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Prelios SpA Operating Income

: $7.88 Mil (TTM As of Dec. 2017)
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Prelios SpA's Operating Income for the three months ended in Dec. 2017 was $4.93 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2017 was $7.88 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Prelios SpA's Operating Income for the three months ended in Dec. 2017 was $4.93 Mil. Prelios SpA's Revenue for the three months ended in Dec. 2017 was $32.29 Mil. Therefore, Prelios SpA's Operating Margin % for the quarter that ended in Dec. 2017 was 15.26%.

Prelios SpA's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Prelios SpA's annualized ROC % for the quarter that ended in Dec. 2017 was 17.60%. Prelios SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2017 was -4,713.76%.


Prelios SpA Operating Income Historical Data

The historical data trend for Prelios SpA'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.

Prelios SpA Annual Data
Trend Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17
Operating Income
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -72.18 -27.18 -18.56 -4.45 8.25

Prelios SpA Quarterly Data
Mar13 Jun13 Sep13 Dec13 Mar14 Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17
Operating Income Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.56 3.24 0.27 -0.56 4.93

Prelios SpA 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. 2017 adds up the quarterly data reported by the company within the most recent 12 months, which was $7.88 Mil.

* 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.


Prelios SpA  (GREY:PLLRF) Operating Income Explanation

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

Prelios SpA's annualized ROC % for the quarter that ended in Dec. 2017 is calculated as:

ROC % (Q: Dec. 2017 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2017 ) + Invested Capital (Q: Dec. 2017 ))/ count )
=19.71124260355 * ( 1 - -33.12% )/( (160.81287246722 + 137.34674556213)/ 2 )
=26.239606153846/149.07980901468
=17.60 %

where

Invested Capital(Q: Sep. 2017 )
=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))
=222.08939213349 - 60.775923718713 - ( 34.165673420739 - max(0, 91.153754469607 - 91.654350417163+34.165673420739))
=160.81287246722

Invested Capital(Q: Dec. 2017 )
=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))
=207.35266272189 - 64.333727810651 - ( 38.398816568047 - max(0, 90.94674556213 - 96.618934911243+38.398816568047))
=137.34674556213

Note: The Operating Income data used here is four times the quarterly (Dec. 2017) data.

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

Prelios SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2017 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2017 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2017  Q: Dec. 2017
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-35.204733727811/( ( (0.69606674612634 + max(-12.258641239571, 0)) + (0.79763313609467 + max(-12.91124260355, 0)) )/ 2 )
=-35.204733727811/( ( 0.69606674612634 + 0.79763313609467 )/ 2 )
=-35.204733727811/0.74684994111051
=-4,713.76 %

where Working Capital is:

Working Capital(Q: Sep. 2017 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(43.812872467223 + 0 + 13.675804529201) - (60.775923718713 + 0 + 8.9713945172825)
=-12.258641239571

Working Capital(Q: Dec. 2017 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(44.872189349112 + 0 + 13.347928994083) - (64.333727810651 + 0 + 6.7976331360947)
=-12.91124260355

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2017) EBIT data.

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

Prelios SpA's Operating Margin % for the quarter that ended in Dec. 2017 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2017 )/Revenue (Q: Dec. 2017 )
=4.9278106508876/32.285207100592
=15.26 %

* 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.

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.


Prelios SpA Operating Income Related Terms

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Prelios SpA Business Description

Prelios SpA logo
Industry
Real Estate » Real Estate NAICS : 531190 SIC : 6531
Traded in Other Exchanges
N/A
Address
Via Valtellina, 15/17, Milan, ITA, 20159
Prelios is an European asset management company providing real estate and financial services. The company operates in Italy, Germany and Poland. Its services include Real estate fund management, Integrated property management services, Real estate agency, Valuations and Performing and non-performing loans management.

Prelios SpA Headlines

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