China Tower (HKSE:00788) Operating Income : HK$0 Mil (TTM As of Dec. 2023)

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What is China Tower Operating Income?

China Tower's Operating Income for the three months ended in Dec. 2023 was HK$0 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was HK$0 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. China Tower's Operating Income for the three months ended in Dec. 2023 was HK$0 Mil. China Tower's Revenue for the three months ended in Dec. 2023 was HK$26,095 Mil. Therefore, China Tower's Operating Margin % for the quarter that ended in Dec. 2023 was 0.00%.

Good Sign:

China Tower Corp Ltd operating margin is expanding. Margin expansion is usually a good sign.

China Tower's 5-Year average Growth Rate for Operating Margin % was 3.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. China Tower's annualized ROC % for the quarter that ended in Dec. 2023 was 0.00%. China Tower's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 0.00%.

China Tower Operating Income Historical Data

The historical data trend for China Tower'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.

China Tower Operating Income Chart

China Tower Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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13,723.56

15,781.67

17,138.87

17,929.97

17,932.51

China Tower Quarterly Data
	Dec16	Mar17	Jun17	Dec17	Mar18	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Sep22	Dec22	Jun23	Sep23	Dec23	Mar24
Operating Income	Get a 7-Day Free Trial															-	-	-	-	-

China Tower 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 quarterly data reported by the company within the most recent 12 months, which was HK$0 Mil.

China Tower (HKSE:00788) Operating Income Explanation

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

China Tower'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: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	0 * ( 1 - 0% )	/	( (348095.193	+	319069.52)	/ 2 )
=	0	/	333582.3565
=	0.00 %

where

	Invested Capital		(Q: Sep. 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	))
=	348095.193	-	0	-	( 0	-	max(0, 0	-	0	+	0	))
=	348095.193

	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	))
=	356579.573	-	33184.158	-	( 4325.895	-	max(0, 69929.659	-	85405.537	+	4325.895	))
=	319069.52

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

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

China Tower'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: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	0	/	( ( (0 + max(0, 0))	+	(266748.607 + max(38527.269, 0)) )	/	2 )
=	0	/	( ( 0	+	305275.876 )	/	2 )
=	0	/	152637.938
=	0.00 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0)	-	(0	+	0	+	0)
=	0

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(70917.342	+	0	+	4015.263)	-	(33184.158	+	0	+	3221.178)
=	38527.269

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

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

China Tower'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 )
	=	0	/	26095.377
	=	0.00 %

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.

China Tower Operating Income Related Terms

Thank you for viewing the detailed overview of China Tower's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

China Tower (HKSE:00788) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Telecommunication Services » China Tower Corp Ltd (HKSE:00788) » Definitions » Operating Income

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Traded in Other Exchanges

CTOWY:USA CHWRF:USA 2Y1:Germany

Address

Yard No. 9, Dongran North Street, China Tower Industrial Park, Haidian District, Room 101, LG1 to 3rd Floor, Building 14, North District, Beijing, CHN

Website

https://www.china-tower.com

China Tower Corp Ltd is a telecommunications tower infrastructure service provider. The business of the company includes tower business; DAS business; Smart Tower business and Energy business. It generates maximum revenue from the tower business. The Tower business includes macro cell and small cell business. Its DAS business provides a DAS system to the Three TSPs for connecting their telecommunication equipment, helping them receive and send indoor mobile telecommunication network signals to enable mobile telecommunication network signals covering buildings, large venues and tunnels.

Executives

Blackrock, Inc.	2201 Interest of corporation controlled by you
Citigroup Inc.	2502 Approved lending agent
Gic Private Limited	2102 Investment manager

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