VCOGF (Victoria Oil & Gas) Operating Income : $-8.15 Mil (TTM As of Jun. 2021)

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What is Victoria Oil & Gas Operating Income?

Victoria Oil & Gas's Operating Income for the six months ended in Jun. 2021 was $-1.65 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2021 was $-8.15 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Victoria Oil & Gas's Operating Income for the six months ended in Jun. 2021 was $-1.65 Mil. Victoria Oil & Gas's Revenue for the six months ended in Jun. 2021 was $7.15 Mil. Therefore, Victoria Oil & Gas's Operating Margin % for the quarter that ended in Jun. 2021 was -23.06%.

Victoria Oil & Gas'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. Victoria Oil & Gas's annualized ROC % for the quarter that ended in Jun. 2021 was -9.11%. Victoria Oil & Gas's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2021 was -7.03%.

Victoria Oil & Gas Operating Income Historical Data

The historical data trend for Victoria Oil & Gas'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.

Victoria Oil & Gas Operating Income Chart

Victoria Oil & Gas Annual Data

Trend

May11

May12

May13

May14

May15

Dec16

Dec17

Dec18

Dec19

Dec20

Operating Income

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-6.41

-9.51

-7.63

-10.41

-1.37

Victoria Oil & Gas Semi-Annual Data
	Nov11	May12	Nov12	May13	Nov13	May14	Nov14	May15	Nov15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21
Operating Income	Get a 7-Day Free Trial															-1.24	-9.17	5.13	-6.50	-1.65

Victoria Oil & Gas 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. 2021 adds up the semi-annually data reported by the company within the most recent 12 months, which was $-8.15 Mil.

Victoria Oil & Gas (OTCPK:VCOGF) Operating Income Explanation

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

Victoria Oil & Gas's annualized ROC % for the quarter that ended in Jun. 2021 is calculated as:

	ROC % (Q: Jun. 2021 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2020 )	+	Invested Capital (Q: Jun. 2021 ))	/ count )
=	-3.296 * ( 1 - -5.43% )	/	( (38.477	+	37.842)	/ 2 )
=	-3.4749728	/	38.1595
=	-9.11 %

where

	Invested Capital		(Q: Dec. 2020 )
=	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	))
=	51.085	-	24.918	-	( 1.806	-	max(0, 31.771	-	19.461	+	1.806	))
=	38.477

	Invested Capital		(Q: Jun. 2021 )
=	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	))
=	46.969	-	22.972	-	( 1.638	-	max(0, 29.881	-	16.036	+	1.638	))
=	37.842

Note: The Operating Income data used here is two times the semi-annual (Jun. 2021) data.

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

Victoria Oil & Gas's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2021 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2021 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2020		Q: Jun. 2021
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-2.196	/	( ( (31.586 + max(-17.713, 0))	+	(30.921 + max(-18.733, 0)) )	/	2 )
=	-2.196	/	( ( 31.586	+	30.921 )	/	2 )
=	-2.196	/	31.2535
=	-7.03 %

where Working Capital is:

	Working Capital		(Q: Dec. 2020 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(6.84	+	0.008	+	0.357)	-	(24.918	+	0	+	0)
=	-17.713

	Working Capital		(Q: Jun. 2021 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3.868	+	0.009	+	0.362)	-	(22.972	+	0	+	0)
=	-18.733

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2021) EBIT data.

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

Victoria Oil & Gas's Operating Margin % for the quarter that ended in Jun. 2021 is calculated as:

Operating Margin %	=	Operating Income (Q: Jun. 2021 )	/	Revenue (Q: Jun. 2021 )
	=	-1.648	/	7.148
	=	-23.06 %

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.

Victoria Oil & Gas Operating Income Related Terms

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Victoria Oil & Gas Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Victoria Oil & Gas PLC (OTCPK:VCOGF) » Definitions » Operating Income

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Address

Scott House, Suite 1 The Concourse, Waterloo Station, GBR, SE1 7LY

Website

http://www.victoriaoilandgas.com

Victoria Oil & Gas PLC is a UK-based company that operates a fully integrated domestic natural gas production and distribution business and supplies industry in the port city of Douala, Cameroon. The principal activities of the company include exploration, production, and distribution and the sale of hydrocarbons and related activities. It focuses on the development of the Logbaba gas and condensate field to supply gas to its customers and the expansion of the gas pipeline distribution network. The company's operating segments are Cameroon, Russia & Kazakhstan, and Corporate. Most of the company's revenue is generated from Cameroon.

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