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Chambers Street Properties (Chambers Street Properties) Operating Income : $147.8 Mil (TTM As of Jun. 2018)


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What is Chambers Street Properties Operating Income?

Chambers Street Properties's Operating Income for the three months ended in Jun. 2018 was $39.6 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2018 was $147.8 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Chambers Street Properties's Operating Income for the three months ended in Jun. 2018 was $39.6 Mil. Chambers Street Properties's Revenue for the three months ended in Jun. 2018 was $145.6 Mil. Therefore, Chambers Street Properties's Operating Margin % for the quarter that ended in Jun. 2018 was 27.21%.

Good Sign:

Gramercy Property Trust operating margin is expanding. Margin expansion is usually a good sign.

Chambers Street Properties's 5-Year average Growth Rate for Operating Margin % was 18.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Chambers Street Properties's annualized ROC % for the quarter that ended in Jun. 2018 was 2.54%. Chambers Street Properties's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2018 was %.


Chambers Street Properties Operating Income Historical Data

The historical data trend for Chambers Street Properties's Operating Income can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Chambers Street Properties Operating Income Chart

Chambers Street Properties Annual Data
Trend Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17
Operating Income
Get a 7-Day Free Trial Premium Member Only 10.54 14.50 58.30 129.26 136.74

Chambers Street Properties Quarterly Data
Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 34.44 30.36 39.19 38.65 39.62

Chambers Street Properties Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Jun. 2018 adds up the quarterly data reported by the company within the most recent 12 months, which was $147.8 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


Chambers Street Properties  (NYSE:CSG) Operating Income Explanation

1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Chambers Street Properties's annualized ROC % for the quarter that ended in Jun. 2018 is calculated as:

ROC % (Q: Jun. 2018 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2018 ) + Invested Capital (Q: Jun. 2018 ))/ count )
=158.48 * ( 1 - -0.3% )/( (6252.044 + 6267.721)/ 2 )
=158.95544/6259.8825
=2.54 %

where

Invested Capital(Q: Mar. 2018 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=6401.976 - 122.531 - ( 41.964 - max(0, 122.531 - 149.932+41.964))
=6252.044

Invested Capital(Q: Jun. 2018 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=6433.748 - 108.375 - ( 59.741 - max(0, 108.375 - 166.027+59.741))
=6267.721

Note: The Operating Income data used here is four times the quarterly (Jun. 2018) data.

2. Joel Greenblatt's definition of Return on Capital:

Chambers Street Properties's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2018 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2018 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2018  Q: Jun. 2018
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=185.156/( ( (0 + max(-107.088, 0)) + (0 + max(-96.349, 0)) )/ 2 )
=185.156/( ( 0 + 0 )/ 2 )
=185.156/0
= %

where Working Capital is:

Working Capital(Q: Mar. 2018 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 15.443) - (122.531 + 0 + 0)
=-107.088

Working Capital(Q: Jun. 2018 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 12.026) - (108.375 + 0 + 0)
=-96.349

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2018) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Chambers Street Properties's Operating Margin % for the quarter that ended in Jun. 2018 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2018 )/Revenue (Q: Jun. 2018 )
=39.62/145.595
=27.21 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

4. Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the Operating Income growth rate using Operating Income per share data.


Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.


Chambers Street Properties Operating Income Related Terms

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Chambers Street Properties (Chambers Street Properties) Business Description

Traded in Other Exchanges
N/A
Address
Gramercy Property Trust is a real estate investment trust engaged in acquisition and management of single-tenant industrial, office, and specialty properties in the U.S. and Europe. In terms of total value, the vast majority of the company's real estate portfolio is split between offices and industrial properties, such as warehouses and distribution centers, located in urban markets throughout the U.S. Gramercy Property derives nearly all of its income in the form of rental revenue from tenants signed to medium- to long-term leases. The company's assets are fairly evenly dispersed between America's large metropolitan areas, such as Dallas, Los Angeles, New York, and Chicago. Gramercy's major tenants include firms from the financial, healthcare, consumer product, and technology industries.
Executives
Gregory F Hughes director
Charles E Black director 101 W. BROADWAY, SUITE 840, SAN DIEGO CA 92101
Allan Baum director 126 PIERREPONT STREET #3, BROOKLYN NY 11201
Louis P Salvatore director 7 SYLVAN WAY, PARSIPPANY NJ 07054
Jeffrey E Kelter director C/O JACK CREEK INVESTMENT CORP., 386 PARK AVENUE SOUTH, FL 20, NEW YORK NY 10016
James L Francis director 1997 ANNAPOLIS EXCHANGE PARKWAY, SUITE 410, ANNAPOLIS MD 21401
Z Jamie Behar director 200 SPECTRUM CENTER DRIVE, SUITE 2100, IRVINE CA 92618
Thomas D Eckert director 1997 ANNAPOLIS EXCHANGE PARKWAY, SUITE 410, ANNAPOLIS MD 21401
Gordon F Dugan director, officer: Chief Executive Officer 50 ROCKEFELLER PLZ, 2ND FLOOR, NEW YORK NY 10020
Matey Edward J Jr officer: EVP, Secretary + Gen. Counsel
Benjamin P Harris officer: President WP CAREY & CO LLC, 50 ROCKEFELLER PLAZA, NEW YORK NY 10020
Jon W. Clark officer: Chief Financial Officer 420 LEXINGTON AVE., NEW YORK NY 10170
Nicholas L. Pell officer: Chief Investment Officer 521 5TH AVENUE, 30TH FLOOR, NEW YORK NY 10175
Martin A Reid director, officer: Interim President & CEO, & CFO 1929 WEST JOPPA ROAD, RUXTON MD 21204
Philip L Kianka officer: COO & Executive VP 17 HULFISH STREET, SUITE 280, PRINCETON NJ 08542