Alpha Pro Tech (Alpha Pro Tech) Operating Income : $4.13 Mil (TTM As of Dec. 2023)

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What is Alpha Pro Tech Operating Income?

Alpha Pro Tech's Operating Income for the three months ended in Dec. 2023 was $0.97 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $4.13 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Alpha Pro Tech's Operating Income for the three months ended in Dec. 2023 was $0.97 Mil. Alpha Pro Tech's Revenue for the three months ended in Dec. 2023 was $15.27 Mil. Therefore, Alpha Pro Tech's Operating Margin % for the quarter that ended in Dec. 2023 was 6.36%.

Warning Sign:

Alpha Pro Tech Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -4.4%.

Alpha Pro Tech's 5-Year average Growth Rate for Operating Margin % was -4.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Alpha Pro Tech's annualized ROC % for the quarter that ended in Dec. 2023 was 6.79%. Alpha Pro Tech's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 9.56%.

Alpha Pro Tech Operating Income Historical Data

The historical data trend for Alpha Pro Tech'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.

Alpha Pro Tech Operating Income Chart

Alpha Pro Tech Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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3.02

31.58

7.93

4.65

4.13

Alpha Pro Tech 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															0.76	0.43	1.31	1.42	0.97

Alpha Pro Tech 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 $4.13 Mil.

Alpha Pro Tech (AMEX:APT) Operating Income Explanation

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

Alpha Pro Tech'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 )
=	3.884 * ( 1 - 19.8% )	/	( (45.243	+	46.48)	/ 2 )
=	3.114968	/	45.8615
=	6.79 %

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	))
=	64.611	-	1.205	-	( 18.163	-	max(0, 1.982	-	52.687	+	18.163	))
=	45.243

	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	))
=	68.763	-	1.905	-	( 20.378	-	max(0, 2.566	-	53.064	+	20.378	))
=	46.48

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

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

Alpha Pro Tech'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 )
=	3.884	/	( ( (6.753 + max(33.319, 0))	+	(10.397 + max(30.781, 0)) )	/	2 )
=	3.884	/	( ( 40.072	+	41.178 )	/	2 )
=	3.884	/	40.625
=	9.56 %

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)
=	(8.44	+	21.526	+	4.558)	-	(1.205	+	0	+	-2.2204460492503E-16)
=	33.319

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(6.545	+	20.131	+	6.01)	-	(1.905	+	0	+	0)
=	30.781

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 %:

Alpha Pro Tech'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 )
	=	0.971	/	15.265
	=	6.36 %

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.

Alpha Pro Tech Operating Income Related Terms

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

Alpha Pro Tech (Alpha Pro Tech) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Construction » Alpha Pro Tech Ltd (AMEX:APT) » Definitions » Operating Income

Comparable Companies

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APL:Germany

Address

60 Centurian Drive, Suite 112, Markham, ON, CAN, L3R 9R2

Website

https://www.alphaprotech.com

Alpha Pro Tech Ltd is involved in the business of developing, manufacturing, and marketing of disposable protective apparel, building supply, and infection control products principally in the United States. It operates its business through segment which includes Building Supply and Disposable Protective Apparel. It mainly offers a line of construction supply weatherization products, namely house wrap and synthetic roof underlayment as well as other woven material, different styles of disposable products like shoe covers, bouffant caps, gowns, coveralls, lab coats, frocks and other miscellaneous products. It also provides face masks and eye shields. It generates most of its revenues from the sale of products across the United States.

Executives

James Buchan	director	60 CENTURIAN DRIVE, SUITE 112, MARKHAM A6 L3R9R2
Benjamin A Shaw	director	160 CENTURIAN DRIVE, SUITE 112, MARKHAM A6 L3R 9R2
John Ritota	director	C/O ALPHA PRO TECH LTD, 60 CENTURIAN DR STE 112, MARKHAM ONTARIO CANADA A1 L3R9R2
David R Garcia	director	60 CENTURIAN DRIVE, SUITE 112, MARKHAM A6 L3R9R2
Charles D Montgomery	officer: Sr. V.P. Engineered Products	60 CENTURIAN DRIVE SUITE#112, MARKHAM A6 L3R 9R2
Russell Manock	director	C/O ALPHA PRO TECH LTD, 60 CENTURIAN DR, MARKHAM CANADA A6 9999999999
Lloyd Hoffman	officer: CFO and Sr VP Finance and Admi	C/O ALPHA PRO TECH LTD, 60 CENTURIAN DRIVE STE 112, MARKHAM ONTARIO CANADA A1 L3R9R2
Mcdonald Colleen J	officer: CFO	60 CENTURIAN DRIVE SUITE 112, MARKHAM A6 L3R 9R2
Donna Millar	director	60 CENTURIAN DRIVE, SUITE 112, MARKHAM A6 L3R 9R2
David B Anderson	director	60 CENTURIAN DRIVE SUITE # 112, MARKHAM A6 L3R 9R2
Al Millar	director, officer: President	C/O ALPHA PRO TECH LTD, 60 CENTURIAN DRIVE STE 112, MARKHAM ONTARIO CANADA A1 L3R9R2
Sheldon Hoffman	director, officer: C.E.O.	60 ENTURIAN DRIVE STE 112, C/O ALPHA PRO TECH LTD, MARKHAM ONTAIRO CANADA A6 0000
Donald Bennett	director
Scheerer Michael	officer: Sr VP- Sales & marketing	60 CENTURIAN DRIVE STE 112, C/O ALPHA PRO TECH LTD, MARKHAM ONTARIO CANA A6 0000
Robert Isaly	director