CTI Logistics (ASX:CLX) Operating Income : A$22.8 Mil (TTM As of Dec. 2023)

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What is CTI Logistics Operating Income?

CTI Logistics's Operating Income for the six months ended in Dec. 2023 was A$13.5 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was A$22.8 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. CTI Logistics's Operating Income for the six months ended in Dec. 2023 was A$13.5 Mil. CTI Logistics's Revenue for the six months ended in Dec. 2023 was A$161.8 Mil. Therefore, CTI Logistics's Operating Margin % for the quarter that ended in Dec. 2023 was 8.36%.

Good Sign:

CTI Logistics Ltd operating margin is expanding. Margin expansion is usually a good sign.

CTI Logistics's 5-Year average Growth Rate for Operating Margin % was 35.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. CTI Logistics's annualized ROC % for the quarter that ended in Dec. 2023 was 7.89%. CTI Logistics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 16.33%.

CTI Logistics Operating Income Historical Data

The historical data trend for CTI Logistics'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.

CTI Logistics Operating Income Chart

CTI Logistics Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Operating Income

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2.72

5.30

12.75

23.97

26.32

CTI Logistics Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Operating Income	Get a 7-Day Free Trial															9.40	14.57	17.07	9.26	13.53

CTI Logistics 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 semi-annually data reported by the company within the most recent 12 months, which was A$22.8 Mil.

CTI Logistics (ASX:CLX) Operating Income Explanation

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

CTI Logistics'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: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	27.054 * ( 1 - 33.1% )	/	( (231.646	+	227.085)	/ 2 )
=	18.099126	/	229.3655
=	7.89 %

where

	Invested Capital		(Q: Jun. 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	))
=	242.89	-	23.852	-	( 10.282	-	max(0, 60.399	-	47.791	+	10.282	))
=	231.646

	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	))
=	248.921	-	23.857	-	( 7.204	-	max(0, 50.623	-	48.602	+	7.204	))
=	227.085

Note: The Operating Income data used here is two times the semi-annual (Dec. 2023) data.

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

CTI Logistics'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: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	28.416	/	( ( (167.848 + max(0.14800000000001, 0))	+	(173.615 + max(6.447, 0)) )	/	2 )
=	28.416	/	( ( 167.996	+	180.062 )	/	2 )
=	28.416	/	174.029
=	16.33 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(32.718	+	0.234	+	1.351)	-	(23.852	+	1.136	+	9.167)
=	0.14800000000001

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(41.196	+	0.202	+	0)	-	(23.857	+	1.779	+	9.315)
=	6.447

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

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

CTI Logistics'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 )
	=	13.527	/	161.847
	=	8.36 %

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.

CTI Logistics Operating Income Related Terms

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CTI Logistics (ASX:CLX) Business Description

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Address

1 Drummond Place, West Perth, Perth, WA, AUS, 6005

Website

https://www.ctilogistics.com

CTI Logistics Ltd is an integrated shipping and logistics company. It is organized into four operating segments, which are Transport, Logistics, Property, and Other. The Transport Services segment includes the provision of the courier, taxi truck, parcel distribution, and fleet management. Logistics services include the provision of warehousing and distribution, specialized flooring logistics, supply-based management services, and document storage services. The property segment includes rental of owner-occupied and investment property. The Other segment is engaged in the provision of security services.