Alexander & Baldwin (Alexander & Baldwin) Operating Income : $67.7 Mil (TTM As of Dec. 2023)

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What is Alexander & Baldwin Operating Income?

Alexander & Baldwin's Operating Income for the three months ended in Dec. 2023 was $21.1 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $67.7 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Alexander & Baldwin's Operating Income for the three months ended in Dec. 2023 was $21.1 Mil. Alexander & Baldwin's Revenue for the three months ended in Dec. 2023 was $52.9 Mil. Therefore, Alexander & Baldwin's Operating Margin % for the quarter that ended in Dec. 2023 was 39.89%.

Good Sign:

Alexander & Baldwin Inc operating margin is expanding. Margin expansion is usually a good sign.

Alexander & Baldwin's 5-Year average Growth Rate for Operating Margin % was 14.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Alexander & Baldwin's annualized ROC % for the quarter that ended in Dec. 2023 was 5.04%. Alexander & Baldwin's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 114.40%.

Alexander & Baldwin Operating Income Historical Data

The historical data trend for Alexander & Baldwin'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.

Alexander & Baldwin Operating Income Chart

Alexander & Baldwin Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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32.30

30.40

79.50

61.10

67.80

Alexander & Baldwin 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															21.70	12.90	16.10	17.60	21.10

Alexander & Baldwin 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 $67.7 Mil.

Alexander & Baldwin (NYSE:ALEX) Operating Income Explanation

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

Alexander & Baldwin'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 )
=	84.4 * ( 1 - 0% )	/	( (1689.6	+	1660.9)	/ 2 )
=	84.4	/	1675.25
=	5.04 %

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	))
=	1785.9	-	84.5	-	( 11.8	-	max(0, 155.8	-	270.2	+	11.8	))
=	1689.6

	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	))
=	1646.2	-	97.6	-	( 13.5	-	max(0, 168.1	-	55.8	+	13.5	))
=	1660.9

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

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

Alexander & Baldwin'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 )
=	58	/	( ( (4.4 + max(95.3, 0))	+	(1.7 + max(-149.4, 0)) )	/	2 )
=	58	/	( ( 99.7	+	1.7 )	/	2 )
=	58	/	50.7
=	114.40 %

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)
=	(3.6	+	0	+	247.5)	-	(84.5	+	0	+	71.3)
=	95.3

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4.5	+	0	+	14.2)	-	(97.6	+	70.4	+	0.099999999999994)
=	-149.4

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 %:

Alexander & Baldwin'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 )
	=	21.1	/	52.9
	=	39.89 %

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.

Alexander & Baldwin Operating Income Related Terms

Thank you for viewing the detailed overview of Alexander & Baldwin's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

Alexander & Baldwin (Alexander & Baldwin) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Alexander & Baldwin Inc (NYSE:ALEX) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

ABU:Germany

Address

822 Bishop Street, Post Office Box 3440, Honolulu, HI, USA, 96801

Website

https://www.alexanderbaldwin.com

Alexander & Baldwin Inc operates in the real estate sector. It functions through two segments namely Commercial Real Estate and Land Operations The Commercial Real Estate segment owns and manages retail, industrial and office properties in Hawaii, thereby accounting for majority of the company's revenue. The Land Operations segment actively manages the company's land and real estate-related assets and makes optimum utilization of these assets. Geographically, the activities are carried out across the United States.

Executives

Kimura Shelee M.t.	director	C/O P.O. BOX 730, HONOLULU HI 96808
Jeffrey W Pauker	officer: EVP, Chief Investment Officer	822 BISHOP STREET, HONOLULU HI 96813
Anthony J Tommasino	officer: Principal accounting officer	822 BISHOP STREET, HONOLULU HI 96813
Derek T Kanehira	officer: Senior Vice President	822 BISHOP STREET, HONOLULU HI 96813
Scott G Morita	officer: Vice President & Corp Counsel	822 BISHOP STREET, HONOLULU HI 96813
Jerrod M Schreck	officer: Exec VP; President of subsid.	822 BISHOP STREET, HONOLULU HI 96813
Chun Nelson N S	director, officer: Sr. Vice Pres. & CLO	822 BISHOP STREET, HONOLULU HI 96813
John T Leong	director	822 BISHOP STREET, HONOLULU HI 96813
Douglas M Pasquale	director	245 FICHER AVE STE D-1, COSTA MESA CA 92626
Christopher J Benjamin	officer: President of affiliate	822 BISHOP STREET, HONOLULU HI 96813
Robert S Harrison	director	999 BISHOP STREET, HONOLULU HI 96813
Brett A Brown	officer: CFO and Exec. Vice President	C/O INLAND REAL ESTATE CORPORATION, 2901 BUTTERFIELD ROAD, OAK BROOK IL 60523
Stanley M Kuriyama	director, officer: Pres. & CEO	822 BISHOP ST., HONOLULU HI 96813
Doane W Allen Jr	director	822 BISHOP ST., HONOLULU HI 96813
Diana Laing	officer: Executive Vice President	THE MACERICH COMPANY, 401 WILSHIRE BVLD., STE. 700, SANTA MONICA CA 90401