GAMCO Investors (GAMCO Investors) Operating Income : $67.9 Mil (TTM As of Jun. 2023)

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What is GAMCO Investors Operating Income?

GAMCO Investors's Operating Income for the three months ended in Jun. 2023 was $16.5 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2023 was $67.9 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. GAMCO Investors's Operating Income for the three months ended in Jun. 2023 was $16.5 Mil. GAMCO Investors's Revenue for the three months ended in Jun. 2023 was $59.2 Mil. Therefore, GAMCO Investors's Operating Margin % for the quarter that ended in Jun. 2023 was 27.87%.

Warning Sign:

GAMCO Investors Inc operating margin has been in a 5-year decline. The average rate of decline per year is -9.8%.

GAMCO Investors's 5-Year average Growth Rate for Operating Margin % was -9.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. GAMCO Investors's annualized ROC % for the quarter that ended in Jun. 2023 was 69.12%. GAMCO Investors's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2023 was 2,693.42%.

GAMCO Investors Operating Income Historical Data

The historical data trend for GAMCO Investors'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.

GAMCO Investors Operating Income Chart

GAMCO Investors Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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117.98

99.61

117.42

89.23

66.21

GAMCO Investors Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Dec23
Operating Income	Get a 7-Day Free Trial															18.00	17.01	16.40	16.49	-

GAMCO Investors 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 Jun. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $67.9 Mil.

GAMCO Investors (OTCPK:GAMI) Operating Income Explanation

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

GAMCO Investors's annualized ROC % for the quarter that ended in Jun. 2023 is calculated as:

	ROC % (Q: Jun. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2023 )	+	Invested Capital (Q: Jun. 2023 ))	/ count )
=	65.968 * ( 1 - 26.1% )	/	( (70.7	+	70.351)	/ 2 )
=	48.750352	/	70.5255
=	69.12 %

where

	Invested Capital		(Q: Mar. 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	))
=	226.142	-	71	-	( 133.277	-	max(0, 71	-	155.442	+	133.277	))
=	70.7

	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	))
=	241.045	-	74.11	-	( 149.153	-	max(0, 74.11	-	170.694	+	149.153	))
=	70.351

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

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

GAMCO Investors's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2023		Q: Jun. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	80.264	/	( ( (3.035 + max(-51.935, 0))	+	(2.925 + max(-55.274, 0)) )	/	2 )
=	80.264	/	( ( 3.035	+	2.925 )	/	2 )
=	80.264	/	2.98
=	2,693.42 %

where Working Capital is:

	Working Capital		(Q: Mar. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(19.065	+	0	+	2.8421709430404E-14)	-	(71	+	0	+	0)
=	-51.935

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(18.836	+	0	+	0)	-	(74.11	+	0	+	0)
=	-55.274

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2023) EBIT data.

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

GAMCO Investors's Operating Margin % for the quarter that ended in Jun. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Jun. 2023 )	/	Revenue (Q: Jun. 2023 )
	=	16.492	/	59.171
	=	27.87 %

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.

GAMCO Investors Operating Income Related Terms

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

GAMCO Investors (GAMCO Investors) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » GAMCO Investors Inc (OTCPK:GAMI) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

6JV:Germany

Address

191 Mason Street, Greenwich, CT, USA, 06830

Website

https://www.gabelli.com

GAMCO Investors Inc is a provider of investment advisory services to open-end funds, closed-end funds, Exchange Traded Managed Funds (ETMFs), and institutional and private wealth management investors principally in the United States. The company invests in a variety of U.S. and international securities through various investment styles including value, growth, non-market correlated, and convertible securities. Its revenues are based primarily on the company's levels of assets under management (AUM) and fees associated with our various investment products. Its AUM are organized into three groups; Open and Closed-End Funds; Institutional and Private Wealth Management; and SICAV.

Executives

Ggcp, Inc.	10 percent owner	189 MASON STREET, GREENWICH CT 06830
Alexis Glick	director	C/O GAMCO INVESTORS, INC., ONE CORPORATE CENTER, RYE NY 10580
Associated Capital Group, Inc.	10 percent owner	191 MASON STREET, GREENWICH CT 06830
Kieran Caterina	officer: Acting Co-CFO	ONE CORPORATE CENTER, RYE NY 10580
Van Der Eb Henry	other: Senior Vice President	100 CORPORATE NORTH, SUITE 201, BANNOCKBURN IL 60015
Peter D. Goldstein	officer: General Counsel	249 ROYAL PALM WAY, SUITE 503, PALM BEACH FL 33480
Mario J Gabelli	director, 10 percent owner, officer: Chairman of the Board and CEO	191 MASON STREET, GREENWICH CT 06830
Leslie B Daniels	director	540 MADISON, 22ND FLOOR, NEW YORK NY 10022
Elisa M. Wilson	director	C/O GAMCO INVESTORS, INC., ONE CORPORATE CENTER, RYE NY 10580
Raymond Avansino	director	C/O ONE CORPORTATE CENTER, RYE NY 10580
Frederick J. Mancheski Revocable Trust Indenture, Dated June 8, 1999, As Amended	10 percent owner	C/O COLLIER, HALPERN & NEWBERG, LLP, ONE NORTH LEXINGTON AVENUE, 15TH FLOOR, WHITE PLAINS NY 10601
Diane Lapointe	officer: Acting Co-CFO	ONE CORPORATE CENTER, RYE NY 10580
Ggcp Holdings Llc	10 percent owner	140 GREENWICH AVENUE, GREENWICH CT 06830
Gabelli Securities Inc	10 percent owner	ONE CORPORATE CENTER, RYE NY 10580
Kevin Handwerker	officer: Executive VP & General Counsel