Unicasa Ind Moveis (BSP:UCAS3) Operating Income : R$6.9 Mil (TTM As of Dec. 2023)

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What is Unicasa Ind Moveis Operating Income?

Unicasa Ind Moveis's Operating Income for the three months ended in Dec. 2023 was R$0.6 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was R$6.9 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Unicasa Ind Moveis's Operating Income for the three months ended in Dec. 2023 was R$0.6 Mil. Unicasa Ind Moveis's Revenue for the three months ended in Dec. 2023 was R$58.9 Mil. Therefore, Unicasa Ind Moveis's Operating Margin % for the quarter that ended in Dec. 2023 was 1.05%.

Good Sign:

Unicasa Ind Moveis SA operating margin is expanding. Margin expansion is usually a good sign.

Unicasa Ind Moveis's 5-Year average Growth Rate for Operating Margin % was 17.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Unicasa Ind Moveis's annualized ROC % for the quarter that ended in Dec. 2023 was 2.53%. Unicasa Ind Moveis's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 5.77%.

Unicasa Ind Moveis Operating Income Historical Data

The historical data trend for Unicasa Ind Moveis'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.

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Unicasa Ind Moveis Operating Income Chart

Unicasa Ind Moveis Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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18.69

16.13

30.16

25.35

6.90

Unicasa Ind Moveis 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															1.31	2.05	0.40	3.84	0.62

Unicasa Ind Moveis 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 R$6.9 Mil.

Unicasa Ind Moveis (BSP:UCAS3) Operating Income Explanation

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

Unicasa Ind Moveis'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 )
=	2.464 * ( 1 - -194.79% )	/	( (284.584	+	289.66)	/ 2 )
=	7.2636256	/	287.122
=	2.53 %

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	))
=	304.455	-	14.254	-	( 34.701	-	max(0, 91.421	-	97.038	+	34.701	))
=	284.584

	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	))
=	349.181	-	19.969	-	( 59.578	-	max(0, 83.281	-	122.833	+	59.578	))
=	289.66

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

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

Unicasa Ind Moveis'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 )
=	10.496	/	( ( (174.971 + max(-23.892, 0))	+	(188.746 + max(-13.198, 0)) )	/	2 )
=	10.496	/	( ( 174.971	+	188.746 )	/	2 )
=	10.496	/	181.8585
=	5.77 %

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)
=	(24.241	+	28.974	+	7.627)	-	(14.254	+	0	+	70.48)
=	-23.892

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(20.163	+	26.354	+	15.189)	-	(19.969	+	0	+	54.935)
=	-13.198

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 %:

Unicasa Ind Moveis'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 )
	=	0.616	/	58.871
	=	1.05 %

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.

Unicasa Ind Moveis Operating Income Related Terms

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Unicasa Ind Moveis (BSP:UCAS3) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Furnishings, Fixtures & Appliances » Unicasa Ind Moveis SA (BSP:UCAS3) » Definitions » Operating Income

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Traded in Other Exchanges

N/A

Address

RSC 470 Road , KM 212,930 s/n, PO Box 2505, Bento Goncalves, RS, BRA, 95707-540

Website

http://www.unicasamoveis.com.br

Unicasa Ind Moveis SA is a Brazil-based company engaged in the production and trade of furniture. The company is active in the manufacture, sale, import and export of furniture made of wood, iron, steel, and aluminium. It is involved in the production of furniture made of medium-density fiberboard and medium density particleboard. Additionally, the firm sells accessories and decoration items. Its product portfolio includes a range of furnishing solutions, including kitchens, bedrooms, closets, home theatres, laundries, and toilets, as well as furniture equipment for offices and children's rooms. Unicasa has a network of stores in Brazil and abroad, which sell its products under the brand names Dell Anno, Favorita, New and Casa Brasileira.

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