Budweiser Brewing Co APAC (Budweiser Brewing Co APAC) Operating Income : $480 Mil (TTM As of Dec. 2023)

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What is Budweiser Brewing Co APAC Operating Income?

Budweiser Brewing Co APAC's Operating Income for the three months ended in Dec. 2023 was $63 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $480 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Budweiser Brewing Co APAC's Operating Income for the three months ended in Dec. 2023 was $63 Mil. Budweiser Brewing Co APAC's Revenue for the three months ended in Dec. 2023 was $1,293 Mil. Therefore, Budweiser Brewing Co APAC's Operating Margin % for the quarter that ended in Dec. 2023 was 4.87%.

Good Sign:

Budweiser Brewing Co APAC Ltd operating margin is expanding. Margin expansion is usually a good sign.

Budweiser Brewing Co APAC's 5-Year average Growth Rate for Operating Margin % was 0.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Budweiser Brewing Co APAC's annualized ROC % for the quarter that ended in Dec. 2023 was -0.99%. Budweiser Brewing Co APAC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 14.74%.

Budweiser Brewing Co APAC Operating Income Historical Data

The historical data trend for Budweiser Brewing Co APAC'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.

Budweiser Brewing Co APAC Operating Income Chart

Budweiser Brewing Co APAC Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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1,294.00

894.00

1,393.00

1,197.00

1,330.00

Budweiser Brewing Co APAC Quarterly Data
	Dec17	Mar18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Sep22	Dec22	Jun23	Sep23	Dec23
Operating Income	Get a 7-Day Free Trial													429.00	-23.00	-	417.00	63.00

Budweiser Brewing Co APAC 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 $480 Mil.

Budweiser Brewing Co APAC (OTCPK:BDWBF) Operating Income Explanation

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

Budweiser Brewing Co APAC'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 )
=	252 * ( 1 - 154.55% )	/	( (0	+	13867)	/ 1 )
=	-137.466	/	13867
=	-0.99 %

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	))
=	0	-	0	-	( 0	-	max(0, 0	-	0	+	0	))
=	0

	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	))
=	16234	-	2757	-	( 3166	-	max(0, 4649	-	4259	+	3166	))
=	13867

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

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

Budweiser Brewing Co APAC'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 )
=	440	/	( ( (0 + max(0, 0))	+	(2986 + max(-3327, 0)) )	/	1 )
=	440	/	( ( 0	+	2986 )	/	1 )
=	440	/	2986
=	14.74 %

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)
=	(0	+	0	+	0)	-	(0	+	0	+	0)
=	0

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(427	+	444	+	214)	-	(2757	+	0	+	1655)
=	-3327

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 %:

Budweiser Brewing Co APAC'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 )
	=	63	/	1293
	=	4.87 %

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.

Budweiser Brewing Co APAC Operating Income Related Terms

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Budweiser Brewing Co APAC (Budweiser Brewing Co APAC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Beverages - Alcoholic » Budweiser Brewing Co APAC Ltd (OTCPK:BDWBF) » Definitions » Operating Income

Traded in Other Exchanges

BDWBY:USA 01876:Hong Kong 4BB:Germany

Address

1 Matheson Street, Suites 3012-16, Tower Two, Times Square, Causeway Bay, Hong Kong, HKG

Website

https://www.budweiserapac.com

Budweiser Brewing Company APAC is the largest brewer in Asia by retail sales value and the second largest by volume, according to Euromonitor. After 10% of the business was listed on the Hong Kong exchange in 2019, parent company Anheuser-Busch InBev owns close to 90% of the company's equity.Budweiser APAC's largest markets are China (roughly 80% of 2022 revenue), South Korea (12%), and India (6%). The remaining 2% comprises Japan, New Zealand, and other export markets in the Asia-Pacific region. The company predominantly produces, imports, markets, distributes, and sells a portfolio of more than 50 beer brands, both owned and licensed, including global brands Budweiser, Stella Artois, and Corona along with multicountry brands and local brands such as Hoegaarden, Cass, and Harbin.