Teekay Tankers (Teekay Tankers) Operating Income : $527 Mil (TTM As of Dec. 2023)

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What is Teekay Tankers Operating Income?

Teekay Tankers's Operating Income for the three months ended in Dec. 2023 was $103 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $527 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Teekay Tankers's Operating Income for the three months ended in Dec. 2023 was $103 Mil. Teekay Tankers's Revenue for the three months ended in Dec. 2023 was $313 Mil. Therefore, Teekay Tankers's Operating Margin % for the quarter that ended in Dec. 2023 was 32.73%.

Teekay Tankers'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. Teekay Tankers's annualized ROC % for the quarter that ended in Dec. 2023 was 27.83%. Teekay Tankers's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 34.54%.

Teekay Tankers Operating Income Historical Data

The historical data trend for Teekay Tankers'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.

Teekay Tankers Operating Income Chart

Teekay Tankers Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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129.43

212.42

-101.73

248.88

526.80

Teekay Tankers 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															155.68	183.10	159.57	81.58	102.55

Teekay Tankers 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 $527 Mil.

Teekay Tankers (NYSE:TNK) Operating Income Explanation

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

Teekay Tankers'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 )
=	410.212 * ( 1 - 1.43% )	/	( (1476.158	+	1429.643)	/ 2 )
=	404.3459684	/	1452.9005
=	27.83 %

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	))
=	1770.635	-	67.185	-	( 227.292	-	max(0, 129.963	-	464.908	+	227.292	))
=	1476.158

	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	))
=	1873.494	-	78.6	-	( 365.251	-	max(0, 139.288	-	613.499	+	365.251	))
=	1429.643

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

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

Teekay Tankers'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 )
=	469.808	/	( ( (1281.238 + max(109.069, 0))	+	(1234.524 + max(95.203, 0)) )	/	2 )
=	469.808	/	( ( 1390.307	+	1329.727 )	/	2 )
=	469.808	/	1360.017
=	34.54 %

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)
=	(116.434	+	51.678	+	11.032)	-	(67.185	+	0	+	2.89)
=	109.069

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(99.94	+	53.219	+	24.933)	-	(78.6	+	0	+	4.289)
=	95.203

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 %:

Teekay Tankers'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 )
	=	102.553	/	313.291
	=	32.73 %

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.

Teekay Tankers Operating Income Related Terms

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Teekay Tankers (Teekay Tankers) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Teekay Tankers Ltd (NYSE:TNK) » Definitions » Operating Income

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Traded in Other Exchanges

3TKA:Germany

Address

69 Pitts Bay Road, 4th Floor, Belvedere Building, Hamilton, BMU, HM 08

Website

https://www.teekay.com

Teekay Tankers Ltd is a provider of marine services to the global oil and natural gas industries and an operator of medium-sized oil tankers. The company operates in two segments: tanker and ship-to-ship transfer. The vast majority of its revenue comes from the tanker segment, which consists of crude oil and product tankers for different contracts.