voestalpine AG (WBO:VOE) Operating Income : €1,089 Mil (TTM As of Dec. 2023)

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What is voestalpine AG Operating Income?

voestalpine AG's Operating Income for the three months ended in Dec. 2023 was €181 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was €1,089 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. voestalpine AG's Operating Income for the three months ended in Dec. 2023 was €181 Mil. voestalpine AG's Revenue for the three months ended in Dec. 2023 was €3,875 Mil. Therefore, voestalpine AG's Operating Margin % for the quarter that ended in Dec. 2023 was 4.68%.

voestalpine AG'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. voestalpine AG's annualized ROC % for the quarter that ended in Dec. 2023 was 4.59%. voestalpine AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 11.49%.

voestalpine AG Operating Income Historical Data

The historical data trend for voestalpine AG'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.

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voestalpine AG Operating Income Chart

voestalpine AG Annual Data

Trend

Mar14

Mar15

Mar16

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Mar19

Mar20

Mar21

Mar22

Mar23

Operating Income

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765.90

-104.70

331.80

1,408.50

1,519.70

voestalpine AG Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income	Get a 7-Day Free Trial															246.80	395.30	305.60	207.00	181.40

voestalpine AG 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 €1,089 Mil.

voestalpine AG (WBO:VOE) Operating Income Explanation

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

voestalpine AG'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 )
=	725.6 * ( 1 - 24.85% )	/	( (11775.7	+	11963.1)	/ 2 )
=	545.2884	/	11869.4
=	4.59 %

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	))
=	16668.9	-	3645.3	-	( 1247.9	-	max(0, 5931.2	-	8785.3	+	1247.9	))
=	11775.7

	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	))
=	16606.7	-	3461.6	-	( 1182	-	max(0, 6135.5	-	8659.6	+	1182	))
=	11963.1

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

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

voestalpine AG'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 )
=	832.4	/	( ( (5761.4 + max(1606.2, 0))	+	(5781.2 + max(1342.1, 0)) )	/	2 )
=	832.4	/	( ( 7367.6	+	7123.3 )	/	2 )
=	832.4	/	7245.45
=	11.49 %

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)
=	(1919.3	+	5618.1	+	-1.8189894035459E-12)	-	(3645.3	+	0	+	2285.9)
=	1606.2

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1875.5	+	5602.1	+	0)	-	(3461.6	+	0	+	2673.9)
=	1342.1

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 %:

voestalpine AG'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 )
	=	181.4	/	3874.8
	=	4.68 %

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.

voestalpine AG Operating Income Related Terms

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voestalpine AG (WBO:VOE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Steel » voestalpine AG (WBO:VOE) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

VLPNY:USA VLPNF:USA 0MKX:UK VAS:Germany VOE:Czech Republic

Address

Voestalpine-Strasse 1, Linz, AUT, 4020

Website

https://www.voestalpine.com

voestalpine AG is an Austria-based holding company engaged in the manufacturing, processing and development of steel products. The company is divided into four divisions. The Steel Division is involved in the production of steel products and the casting of large turbines. The High-Performance metals Division provides metals for the automotive, consumer goods, power generation, energy and aviation sectors. The Metal Engineering division produces rails, turnout systems, track-based monitoring systems, specially treated wire and others. The Metal Forming Division provides customized special and precision sections, as well as solutions for systems in the construction, cab construction for commercial vehicles, and aviation sectors. The company generates its revenue from the European Union.

Executives

Dr. Franz Gasselsberger	Supervisory Board
Di Dr. Peter Schwab	Board of Directors
Herbert Eibensteiner	Board of Directors
Mag. Dipl.-ing. Robert Ottel	Board of Directors