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Aeroflot Russian Airlines PJSC (XKAZ:RU_AFLT) Operating Income : ₸706,693 Mil (TTM As of Dec. 2023)


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What is Aeroflot Russian Airlines PJSC Operating Income?

Aeroflot Russian Airlines PJSC's Operating Income for the three months ended in Dec. 2023 was ₸345,095 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was ₸706,693 Mil.

Warning Sign:

Aeroflot Russian Airlines PJSC has recorded a loss in operating income at least once over the past 3 years.

Operating Margin % is calculated as Operating Income divided by its Revenue. Aeroflot Russian Airlines PJSC's Operating Income for the three months ended in Dec. 2023 was ₸345,095 Mil. Aeroflot Russian Airlines PJSC's Revenue for the three months ended in Dec. 2023 was ₸874,260 Mil. Therefore, Aeroflot Russian Airlines PJSC's Operating Margin % for the quarter that ended in Dec. 2023 was 39.47%.

Aeroflot Russian Airlines PJSC'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. Aeroflot Russian Airlines PJSC's annualized ROC % for the quarter that ended in Dec. 2023 was 19.52%. Aeroflot Russian Airlines PJSC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 84.48%.


Aeroflot Russian Airlines PJSC Operating Income Historical Data

The historical data trend for Aeroflot Russian Airlines PJSC'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.

Aeroflot Russian Airlines PJSC Operating Income Chart

Aeroflot Russian Airlines PJSC 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 345,112.12 -494,907.79 -31,631.80 178,727.12 705,652.22

Aeroflot Russian Airlines PJSC Quarterly Data
Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Jun22 Sep22 Dec22 Jun23 Sep23 Dec23
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 279,403.95 -51,424.07 13,048.79 348,549.69 345,094.77

Aeroflot Russian Airlines PJSC 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 ₸706,693 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.


Aeroflot Russian Airlines PJSC  (XKAZ:RU_AFLT) Operating Income Explanation

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

Aeroflot Russian Airlines PJSC'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 )
=1380379.068 * ( 1 - 21.83% )/( (5309521.873 + 5748944.422)/ 2 )
=1079042.3174556/5529233.1475
=19.52 %

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))
=5251812.05 - 323749.83 - ( 662970.521 - max(0, 1818917.055 - 1437457.402+662970.521))
=5309521.873

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))
=5692546.001 - 397374.575 - ( 598506.969 - max(0, 1735356.461 - 1281583.465+598506.969))
=5748944.422

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

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

Aeroflot Russian Airlines PJSC'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 )
=2926258.908/( ( (3130373.729 + max(-210416.996, 0)) + (3797493.659 + max(-290622.794, 0)) )/ 2 )
=2926258.908/( ( 3130373.729 + 3797493.659 )/ 2 )
=2926258.908/3463933.694
=84.48 %

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)
=(524178.587 + 117506.457 + 132801.837) - (323749.83 + 0 + 661154.047)
=-210416.996

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(420353.98 + 162981.574 + 99740.942) - (397374.575 + 0 + 576324.715)
=-290622.794

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 %:

Aeroflot Russian Airlines PJSC'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 )
=345094.767/874259.835
=39.47 %

* 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.


Aeroflot Russian Airlines PJSC Operating Income Related Terms

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Aeroflot Russian Airlines PJSC (XKAZ:RU_AFLT) Business Description

Traded in Other Exchanges
Address
1, Arbat Street, Moscow, RUS, 119019
Aeroflot Russian Airlines PJSC is Russia's largest airline group, and accounts for approximately one third of Russia's air-travel market. It provides scheduled and chartered flights. Passengers may buy tickets through websites, online booking systems, sales offices, and authorized agents. Domestic routes throughout Russia comprise the majority of total passengers. Additionally, it provides international routes to many different regions. The company's lone operating segment is passenger traffic. Outside of Russia, Europe books the next-highest number of passengers at around one fifth the total amount. The Russian Federation owns roughly half of the company.

Aeroflot Russian Airlines PJSC (XKAZ:RU_AFLT) Headlines

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