Mustang Bio (Mustang Bio) Operating Income : $-39.64 Mil (TTM As of Mar. 2024)

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What is Mustang Bio Operating Income?

Mustang Bio's Operating Income for the three months ended in Mar. 2024 was $-5.23 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 was $-39.64 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Mustang Bio's Operating Income for the three months ended in Mar. 2024 was $-5.23 Mil. Mustang Bio's Revenue for the three months ended in Mar. 2024 was $0.00 Mil. Therefore, Mustang Bio's Operating Margin % for the quarter that ended in Mar. 2024 was %.

Mustang Bio's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Mustang Bio's annualized ROC % for the quarter that ended in Mar. 2024 was -247.96%. Mustang Bio's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was -448.38%.

Mustang Bio Operating Income Historical Data

The historical data trend for Mustang Bio'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.

Mustang Bio Operating Income Chart

Mustang Bio Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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-45.89

-56.81

-66.72

-76.16

-50.73

Mustang Bio Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Operating Income	Get a 7-Day Free Trial															-16.32	-13.89	-11.66	-8.86	-5.23

Mustang Bio 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 Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-39.64 Mil.

Mustang Bio (NAS:MBIO) Operating Income Explanation

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

Mustang Bio's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

	ROC % (Q: Mar. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Mar. 2024 ))	/ count )
=	-20.924 * ( 1 - 0% )	/	( (9.754	+	7.123)	/ 2 )
=	-20.924	/	8.4385
=	-247.96 %

where

	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	))
=	17.742	-	12.013	-	( 6.234	-	max(0, 15.371	-	11.346	+	6.234	))
=	9.754

	Invested Capital		(Q: Mar. 2024 )
=	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	))
=	14.592	-	15.667	-	( 1.337	-	max(0, 17.438	-	9.24	+	1.337	))
=	7.123

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

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

Mustang Bio's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2023		Q: Mar. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-20.76	/	( ( (4.813 + max(-13.618, 0))	+	(4.447 + max(-15.703, 0)) )	/	2 )
=	-20.76	/	( ( 4.813	+	4.447 )	/	2 )
=	-20.76	/	4.63
=	-448.38 %

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	1.233)	-	(12.013	+	0	+	2.838)
=	-13.618

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	1.165)	-	(15.667	+	0	+	1.201)
=	-15.703

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

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

Mustang Bio's Operating Margin % for the quarter that ended in Mar. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2024 )	/	Revenue (Q: Mar. 2024 )
	=	-5.231	/	0
	=	%

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.

Mustang Bio Operating Income Related Terms

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Mustang Bio (Mustang Bio) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Mustang Bio Inc (NAS:MBIO) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

377 Plantation Street, Worcester, MA, USA, 01605

Website

https://www.mustangbio.com

Mustang Bio Inc is a clinical-stage biopharmaceutical company focused on translating today's medical breakthroughs in cell and gene therapy into potential cures for hematologic cancers, solid tumors and rare genetic diseases. Its pipeline is currently focused on the core areas of gene therapies for rare genetic disorders, chimeric antigen receptor (CAR) engineered T cell (CAR T) therapies for hematologic malignancies and CAR T therapies for solid tumors.

Executives

Fortress Biotech, Inc.	10 percent owner	1111 KANE CONCOURSE, SUITE 301, BAY HARBOR ISLANDS FL 33154
Rosenwald Lindsay A Md	director	375 PARK AVE, NEW YORK NY 10152
Manuel Md Litchman	director, officer: President and CEO	2 GANSEVOORT STREET, 9TH FLOOR, NEW YORK NY 10017
Eliot M Lurier	officer: Interim CFO	C/O TENAX THERAPEUTICS, INC., ONE COPLEY PARKWAY, SUITE 490, MORRISVILLE NC 27560
Brian Achenbach	officer: SVP, Fin. & Corp. Controller	2 GANSEVOORT STREET, 9TH FLOOR, NEW YORK NY 10014
Neil Herskowitz	director	2109 BROADWAY, SUITE 206, NEW YORK NY 10023
Adam J. Chill	director	24 NEW ENGLAND EXECUTIVE PARK, SUITE 105, BURLINGTON MA 01803
Michael S Weiss	director	750 LEXINGTON AVE, NEW YORK NY 10022
Michael J Zelefsky	director
David J Horin	officer: Interim CFO	1270 AVENUE OF THE AMERICAS, 16TH FLOOR, NEW YORK NY 10020