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Steel Partners Holdings LP (Steel Partners Holdings LP) Operating Income : $250.48 Mil (TTM As of Mar. 2024)


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What is Steel Partners Holdings LP Operating Income?

Steel Partners Holdings LP's Operating Income for the three months ended in Mar. 2024 was $66.14 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 was $250.48 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Steel Partners Holdings LP's Operating Income for the three months ended in Mar. 2024 was $66.14 Mil. Steel Partners Holdings LP's Revenue for the three months ended in Mar. 2024 was $476.35 Mil. Therefore, Steel Partners Holdings LP's Operating Margin % for the quarter that ended in Mar. 2024 was 13.89%.

Good Sign:

Steel Partners Holdings LP operating margin is expanding. Margin expansion is usually a good sign.

Steel Partners Holdings LP's 5-Year average Growth Rate for Operating Margin % was 13.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Steel Partners Holdings LP's annualized ROC % for the quarter that ended in Mar. 2024 was 6.58%. Steel Partners Holdings LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 86.54%.


Steel Partners Holdings LP Operating Income Historical Data

The historical data trend for Steel Partners Holdings LP'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.

Steel Partners Holdings LP Operating Income Chart

Steel Partners Holdings LP Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 125.04 138.04 216.67 191.95 245.66

Steel Partners Holdings LP 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 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 61.32 71.96 47.07 65.31 66.14

Steel Partners Holdings LP 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 $250.48 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.


Steel Partners Holdings LP  (NYSE:SPLPpT.PFD) Operating Income Explanation

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

Steel Partners Holdings LP'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 )
=264.572 * ( 1 - 23.78% )/( (3175.822 + 2953.222)/ 2 )
=201.6567784/3064.522
=6.58 %

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))
=3990.44 - 252.394 - ( 577.928 - max(0, 2065.132 - 2627.356+577.928))
=3175.822

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))
=3640.959 - 241.069 - ( 446.668 - max(0, 1864.948 - 2313.232+446.668))
=2953.222

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

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

Steel Partners Holdings LP'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 )
=284.104/( ( (330.726 + max(-729.523, 0)) + (325.837 + max(-693.761, 0)) )/ 2 )
=284.104/( ( 330.726 + 325.837 )/ 2 )
=284.104/328.2815
=86.54 %

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)
=(216.429 + 202.294 + 916.819) - (252.394 + 0 + 1812.671)
=-729.523

Working Capital(Q: Mar. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(223.559 + 204.823 + 742.805) - (241.069 + 0 + 1623.879)
=-693.761

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 %:

Steel Partners Holdings LP'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 )
=66.143/476.346
=13.89 %

* 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.


Steel Partners Holdings LP Operating Income Related Terms

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Steel Partners Holdings LP (Steel Partners Holdings LP) Business Description

Traded in Other Exchanges
Address
590 Madison Avenue, 32nd Floor, New York, NY, USA, 10022
Steel Partners Holdings LP operates in industrial products, energy, defense, supply chain management and logistics, banking, and youth sports industries. It operates in various segments including the Diversified Industrial segment comprised of manufacturers of engineered niche industrial products, including joining materials, tubing, building materials, performance materials, electrical products, cutting replacement products and services, and metallized films and packaging businesses; the Energy segment provides drilling and production services to the oil and gas industry and owns a youth sports business; the Financial Services segment consists of the operations of WebBank, a Utah chartered industrial bank, which engages in a full range of banking activities.