United States Lime & Minerals (United States Lime & Minerals) Operating Income : $85.4 Mil (TTM As of Dec. 2023)

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What is United States Lime & Minerals Operating Income?

United States Lime & Minerals's Operating Income for the three months ended in Dec. 2023 was $19.0 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $85.4 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. United States Lime & Minerals's Operating Income for the three months ended in Dec. 2023 was $19.0 Mil. United States Lime & Minerals's Revenue for the three months ended in Dec. 2023 was $65.7 Mil. Therefore, United States Lime & Minerals's Operating Margin % for the quarter that ended in Dec. 2023 was 28.88%.

Good Sign:

United States Lime & Minerals Inc operating margin is expanding. Margin expansion is usually a good sign.

United States Lime & Minerals's 5-Year average Growth Rate for Operating Margin % was 14.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. United States Lime & Minerals's annualized ROC % for the quarter that ended in Dec. 2023 was 25.67%. United States Lime & Minerals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 32.37%.

United States Lime & Minerals Operating Income Historical Data

The historical data trend for United States Lime & Minerals'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.

United States Lime & Minerals Operating Income Chart

United States Lime & Minerals Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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30.18

35.42

46.42

54.78

85.42

United States Lime & Minerals 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															12.27	19.84	22.81	23.80	18.97

United States Lime & Minerals 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 $85.4 Mil.

United States Lime & Minerals (NAS:USLM) Operating Income Explanation

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

United States Lime & Minerals'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 )
=	75.88 * ( 1 - 20.49% )	/	( (233.242	+	236.729)	/ 2 )
=	60.332188	/	234.9855
=	25.67 %

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	))
=	424.055	-	14.508	-	( 176.305	-	max(0, 16.002	-	246.394	+	176.305	))
=	233.242

	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	))
=	440.602	-	15.909	-	( 187.964	-	max(0, 17.491	-	254.969	+	187.964	))
=	236.729

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

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

United States Lime & Minerals'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 )
=	75.88	/	( ( (177.071 + max(55.581, 0))	+	(185.068 + max(51.096, 0)) )	/	2 )
=	75.88	/	( ( 232.652	+	236.164 )	/	2 )
=	75.88	/	234.408
=	32.37 %

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)
=	(44.061	+	23.778	+	2.25)	-	(14.508	+	0	+	0)
=	55.581

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(38.052	+	24.313	+	4.64)	-	(15.909	+	0	+	0)
=	51.096

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 %:

United States Lime & Minerals'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 )
	=	18.97	/	65.692
	=	28.88 %

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.

United States Lime & Minerals Operating Income Related Terms

Thank you for viewing the detailed overview of United States Lime & Minerals's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

United States Lime & Minerals (United States Lime & Minerals) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Building Materials » United States Lime & Minerals Inc (NAS:USLM) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

ULI:Germany

Address

5429 LBJ Freeway, Suite 230, Dallas, TX, USA, 75240

Website

http://www.uslm.com

United States Lime & Minerals Inc is engaged in the business of manufacturing lime and limestone products including PLS, quicklime, hydrated lime, and lime slurry. It supplies primarily to the construction (including highway, road, and building contractors), industrial (including paper and glass manufacturers), environmental (including municipal sanitation and water treatment facilities and flue gas treatment processes), metals (including steel producers), oil and gas services, roof shingle manufacturers and agriculture (including poultry and cattle feed producers) industries. The company operates lime and limestone plants and distribution facilities in Arkansas, Colorado, Louisiana, Missouri, Oklahoma, and Texas.

Executives

Timothy Wade Stone	other: Director - Sales & Marketing	5429 LBJ FREEWAY; SUITE 230, DALLAS TX 75240
Sandra C Duhe	director	5429 LBJ FREEWAY; SUITE 230, DALLAS TX 75240
Timothy W Byrne	director, officer: President & CEO	5429 LBJ FREEWAY, SUITE 230, DALLAS TX 75240
Nathan O'neill	officer: Vice President	5429 LBJ FRWY; STE 230, DALLAS TX 75240
Bill Hughes	officer: Senior Vice President	5429 LBJ FREEWAY, SUITE 230, DALLAS TX 75240
Hawkins Tom S Jr	director	5429 LBJ FREEWAY; SUITE 230, DALLAS TX 75420
John J Gagnon	officer: Vice President	5429 LBJ FREEWAY; SUITE 230, DALLAS TX 75240
Inberdon Enterprises Ltd	10 percent owner	1020 789 WEST PENDER ST, VANCOUVER A1 00000
Edward A Odishaw	director	5429 LBJ FREEWAY, SUITE 230, DALLAS TX 75240
George Michel Doumet	10 percent owner	#2201 - 2077 NELSON STREET, VANCOUVER A1 V6G 2Y2
Richard W Cardin	director	5429 LBJ FREEWAY, SUITE 230, DALLAS TX 75240
Ray M Harlin	director
Michael L Wiedemer	officer: VP & CFO	5429 LBJ FREEWAY, SUITE 230, DALLAS TX 75240
M Michael Owens	officer: Vice President	5429 LBJ FREEWAY STE 230, DALLAS TX 75240
David Leymeister	officer: Vice President	5711 PRESTON OAKS ROAD, #1433, DALLAS TX 75254