New Focus Auto Tech Holdings (HKSE:00360) Operating Income : HK$-77.3 Mil (TTM As of Dec. 2023)

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What is New Focus Auto Tech Holdings Operating Income?

New Focus Auto Tech Holdings's Operating Income for the six months ended in Dec. 2023 was HK$-75.9 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was HK$-77.3 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. New Focus Auto Tech Holdings's Operating Income for the six months ended in Dec. 2023 was HK$-75.9 Mil. New Focus Auto Tech Holdings's Revenue for the six months ended in Dec. 2023 was HK$327.3 Mil. Therefore, New Focus Auto Tech Holdings's Operating Margin % for the quarter that ended in Dec. 2023 was -23.20%.

Warning Sign:

New Focus Auto Tech Holdings Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -2.1%.

New Focus Auto Tech Holdings's 5-Year average Growth Rate for Operating Margin % was -2.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. New Focus Auto Tech Holdings's annualized ROC % for the quarter that ended in Dec. 2023 was -16.51%. New Focus Auto Tech Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -34.42%.

New Focus Auto Tech Holdings Operating Income Historical Data

The historical data trend for New Focus Auto Tech Holdings'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.

New Focus Auto Tech Holdings Operating Income Chart

New Focus Auto Tech Holdings Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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-172.25

-65.60

-27.88

-18.62

-77.29

New Focus Auto Tech Holdings Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Operating Income	Get a 7-Day Free Trial															-6.97	-16.41	-2.98	-1.36	-75.94

New Focus Auto Tech Holdings 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 Dec. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was HK$-77.3 Mil.

New Focus Auto Tech Holdings (HKSE:00360) Operating Income Explanation

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

New Focus Auto Tech Holdings's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	-151.87 * ( 1 - -2.68% )	/	( (681.8	+	1207.098)	/ 2 )
=	-155.940116	/	944.449
=	-16.51 %

where

	Invested Capital		(Q: Jun. 2023 )
=	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	))
=	1573.306	-	244.541	-	( 684.645	-	max(0, 767.29	-	1414.255	+	684.645	))
=	681.8

	Invested Capital		(Q: Dec. 2023 )
=	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	))
=	1618.553	-	379.505	-	( 151.951	-	max(0, 743.965	-	775.915	+	151.951	))
=	1207.098

Note: The Operating Income data used here is two times the semi-annual (Dec. 2023) data.

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

New Focus Auto Tech Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-147.798	/	( ( (112.864 + max(-287.8, 0))	+	(615.425 + max(130.509, 0)) )	/	2 )
=	-147.798	/	( ( 112.864	+	745.934 )	/	2 )
=	-147.798	/	429.399
=	-34.42 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(103.304	+	111.922	+	0.0010000000002037)	-	(244.541	+	0	+	258.486)
=	-287.8

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(115.305	+	96.2	+	412.459)	-	(379.505	+	0	+	113.95)
=	130.509

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

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

New Focus Auto Tech Holdings's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	-75.935	/	327.328
	=	-23.20 %

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.

New Focus Auto Tech Holdings Operating Income Related Terms

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New Focus Auto Tech Holdings (HKSE:00360) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » New Focus Auto Tech Holdings Ltd (HKSE:00360) » Definitions » Operating Income

Comparable Companies

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NWFAF:USA

Address

180 Hennessy Road, 5th Floor, Wan Chai, Hong Kong, HKG

Website

https://www.nfa360.com

New Focus Auto Tech Holdings Ltd is an investment holding company and its subsidiaries are principally engaged in the manufacture and sale of electronic and power-related automotive parts and accessories and operating the 4S dealership stores and related business. Its segments include Manufacturing and trading Business and Automobile Dealership and Service Business. The firm generates a majority of its revenue from the Manufacturing Business segment engaged in the manufacture and sale of automobile accessories. Geographically, the company operates in America, Europe, Asia Pacific, and the People's Republic of China.

Executives

Law Wei	2101 Beneficial owner
Hong Kong Prosper Way Investment Ltd
Lai Xi Shi Guo You Zi Chan Tou Zi Fu Wu Zhong Xin	2201 Interest of corporation controlled by you
Luo Xiaoman	2201 Interest of corporation controlled by you
Wu Han Ling Du Chuang Xin Chuang Ye Tou Zi Guan Li You Xian Gong Si	2102 Investment manager
Zhong Dian Guang Gu Lian He Kong Gu You Xian Gong Si	2201 Interest of corporation controlled by you
Xiang Gang Dao Du Shi Ye You Xian Gong Si	2101 Beneficial owner
Qing Dao Ling Du Chuang Ye Tou Zi Guan Li You Xian Gong Si	2201 Interest of corporation controlled by you
Qing Dao Guo Rui Chun Xi Shi Ye You Xian Ze Ren Gong Si	2201 Interest of corporation controlled by you
Qing Dao Guo Rui Xin Fu Ke Si Tou Zi Zhong Xin You Xian He Huo	2201 Interest of corporation controlled by you
Qing Dao Guo Rui Heng Da Tou Zi Kai Fa You Xian Gong Si	2201 Interest of corporation controlled by you
Wu Han Ling Du Zi Ben Tou Zi Guan Li You Xian Gong Si	2201 Interest of corporation controlled by you
Wu Han Guang Gu Lian He Ji Tuan You Xian Gong Si	2201 Interest of corporation controlled by you
Chun Xi Zi Chan Guan Li Bei Jing You Xian Gong Si	2201 Interest of corporation controlled by you
Huang Liping	2201 Interest of corporation controlled by you

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