Rosneft Oil Co (WBO:ROSN) Operating Income : €16,372 Mil (TTM As of Dec. 2021)

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What is Rosneft Oil Co Operating Income?

Rosneft Oil Co's Operating Income for the three months ended in Dec. 2021 was €5,231 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2021 was €16,372 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Rosneft Oil Co's Operating Income for the three months ended in Dec. 2021 was €5,231 Mil. Rosneft Oil Co's Revenue for the three months ended in Dec. 2021 was €29,291 Mil. Therefore, Rosneft Oil Co's Operating Margin % for the quarter that ended in Dec. 2021 was 17.86%.

Rosneft Oil Co'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. Rosneft Oil Co's annualized ROC % for the quarter that ended in Dec. 2021 was 9.80%. Rosneft Oil Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2021 was 14.38%.

Rosneft Oil Co Operating Income Historical Data

The historical data trend for Rosneft Oil Co'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.

Rosneft Oil Co Operating Income Chart

Rosneft Oil Co Annual Data

Trend

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Operating Income

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8,278.43

15,197.64

17,500.09

3,595.88

16,949.48

Rosneft Oil Co Quarterly Data
	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21
Operating Income	Get a 7-Day Free Trial															1,467.03	2,534.25	3,907.00	4,699.48	5,230.88

Rosneft Oil Co 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. 2021 adds up the quarterly data reported by the company within the most recent 12 months, which was €16,372 Mil.

Rosneft Oil Co (WBO:ROSN) Operating Income Explanation

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

Rosneft Oil Co's annualized ROC % for the quarter that ended in Dec. 2021 is calculated as:

	ROC % (Q: Dec. 2021 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2021 )	+	Invested Capital (Q: Dec. 2021 ))	/ count )
=	20923.516 * ( 1 - 22.37% )	/	( (159933.574	+	171410.027)	/ 2 )
=	16242.9254708	/	165671.8005
=	9.80 %

where

	Invested Capital		(Q: Sep. 2021 )
=	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	))
=	189223.904	-	28557.49	-	( 20345.03	-	max(0, 42144.108	-	42876.948	+	20345.03	))
=	159933.574

	Invested Capital		(Q: Dec. 2021 )
=	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	))
=	196989.861	-	27351.39	-	( 18912.559	-	max(0, 44085.414	-	42313.858	+	18912.559	))
=	171410.027

Note: The Operating Income data used here is four times the quarterly (Dec. 2021) data.

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

Rosneft Oil Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2021 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2021 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2021		Q: Dec. 2021
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	18098.6	/	( ( (123245.052 + max(-12481.542, 0))	+	(128413.881 + max(-9863.259, 0)) )	/	2 )
=	18098.6	/	( ( 123245.052	+	128413.881 )	/	2 )
=	18098.6	/	125829.4665
=	14.38 %

where Working Capital is:

	Working Capital		(Q: Sep. 2021 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(8433.475	+	5269.468	+	8828.975)	-	(28557.49	+	0	+	6455.97)
=	-12481.542

	Working Capital		(Q: Dec. 2021 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(8355.042	+	5961.047	+	9085.21)	-	(27351.39	+	0	+	5913.168)
=	-9863.259

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2021) EBIT data.

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

Rosneft Oil Co's Operating Margin % for the quarter that ended in Dec. 2021 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2021 )	/	Revenue (Q: Dec. 2021 )
	=	5230.879	/	29290.526
	=	17.86 %

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.

Rosneft Oil Co Operating Income Related Terms

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Rosneft Oil Co (WBO:ROSN) Business Description

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Address

26/1 Sofiyskaya Embankment, Moscow, RUS, 117997

Website

https://www.rosneft.com

Rosneft Oil Co is an integrated oil and gas company in which the Russian government is a majority shareholder. The company explores, produces, refines, transports, and sells oil and gas. The majority of revenue is generated from its oil segment, where crude and refined products are sold to international and domestic markets. Upstream, Rosneft's exploration and production is concentrated in Central Russia, with other fields throughout the country. The majority of its crude oil is exported to Europe and Asia. Downstream, the company has several refineries across Russia, which sell refined products to European and Russian markets. This includes many of Rosneft's filling stations, where the company captures additional revenue from gasoline and diesel fuel sales.