Superior Plus (Superior Plus) Operating Income : $200 Mil (TTM As of Dec. 2023)

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What is Superior Plus Operating Income?

Superior Plus's Operating Income for the three months ended in Dec. 2023 was $97 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $200 Mil.

Warning Sign:

Superior Plus Corp had lost money in 50% of the time over the past 12quarters.

Operating Margin % is calculated as Operating Income divided by its Revenue. Superior Plus's Operating Income for the three months ended in Dec. 2023 was $97 Mil. Superior Plus's Revenue for the three months ended in Dec. 2023 was $735 Mil. Therefore, Superior Plus's Operating Margin % for the quarter that ended in Dec. 2023 was 13.18%.

Warning Sign:

Superior Plus Corp operating margin has been in a 5-year decline. The average rate of decline per year is -5.1%.

Superior Plus's 5-Year average Growth Rate for Operating Margin % was -5.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Superior Plus's annualized ROC % for the quarter that ended in Dec. 2023 was 8.01%. Superior Plus's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 30.03%.

Superior Plus Operating Income Historical Data

The historical data trend for Superior Plus'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.

Superior Plus Operating Income Chart

Superior Plus Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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239.35

158.72

106.56

136.18

202.97

Superior Plus 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															99.37	169.63	-20.02	-46.63	96.83

Superior Plus 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 $200 Mil.

Superior Plus (OTCPK:SUUIF) Operating Income Explanation

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

Superior Plus'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 )
=	387.3 * ( 1 - 27.5% )	/	( (3543.345	+	3466.309)	/ 2 )
=	280.7925	/	3504.827
=	8.01 %

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	))
=	3808.44	-	402.705	-	( 41.682	-	max(0, 512.379	-	374.769	+	41.682	))
=	3543.345

	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	))
=	3856.664	-	464.744	-	( 30.337	-	max(0, 562.463	-	488.074	+	30.337	))
=	3466.309

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

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

Superior Plus'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 )
=	428.144	/	( ( (1407.361 + max(-140.418, 0))	+	(1443.948 + max(-66.712, 0)) )	/	2 )
=	428.144	/	( ( 1407.361	+	1443.948 )	/	2 )
=	428.144	/	1425.6545
=	30.03 %

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)
=	(206.932	+	80.408	+	29.71)	-	(402.705	+	20.545	+	34.218)
=	-140.418

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(300.686	+	86.166	+	53.145)	-	(464.744	+	18.262	+	23.703)
=	-66.712

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 %:

Superior Plus'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 )
	=	96.825	/	734.794
	=	13.18 %

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.

Superior Plus Operating Income Related Terms

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Superior Plus (Superior Plus) Business Description

Industry

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Traded in Other Exchanges

8SP:Germany SPB:Canada

Address

200 Wellington Street West, Suite 401, Toronto, ON, CAN, M5V 3C7

Website

https://www.superiorplus.com

Superior Plus Corp is a Canadian-based company that distributes energy and specialty chemicals. The company is organized into three business segments: U.S. Propane, Canadian Propane & Wholesale Propane, out of which the majority is from the U.S. Propane segment. The products & services offered by the company include wholesale procurement, distribution, related services for propane and other refined fuels, and supply of chemicals required by industries. The U.S. Propane segment distributes propane gas & liquid fuels along the Eastern U.S. & into the Midwest and California. The Canadian Propane segment includes the Canadian retail business with operations across Canada. The Wholesale Propane segment is the wholesale business with operations in Canada & the Western United States.