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ACDSF (CapitaLand Ascendas REIT) Operating Income : $701 Mil (TTM As of Jun. 2024)


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What is CapitaLand Ascendas REIT Operating Income?

CapitaLand Ascendas REIT's Operating Income for the six months ended in Jun. 2024 was $354 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2024 was $701 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. CapitaLand Ascendas REIT's Operating Income for the six months ended in Jun. 2024 was $354 Mil. CapitaLand Ascendas REIT's Revenue for the six months ended in Jun. 2024 was $570 Mil. Therefore, CapitaLand Ascendas REIT's Operating Margin % for the quarter that ended in Jun. 2024 was 62.05%.

Warning Sign:

CapitaLand Ascendas REIT operating margin has been in a 5-year decline. The average rate of decline per year is -1.2%.

CapitaLand Ascendas REIT's 5-Year average Growth Rate for Operating Margin % was -1.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. CapitaLand Ascendas REIT's annualized ROC % for the quarter that ended in Jun. 2024 was 5.03%. CapitaLand Ascendas REIT's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2024 was 149.33%.


CapitaLand Ascendas REIT Operating Income Historical Data

The historical data trend for CapitaLand Ascendas REIT'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.

CapitaLand Ascendas REIT Operating Income Chart

CapitaLand Ascendas REIT Annual Data
Trend Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Dec20 Dec21 Dec22 Dec23
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 433.82 524.60 601.35 642.08 690.92

CapitaLand Ascendas REIT Semi-Annual Data
Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 307.73 326.97 339.52 347.81 353.52

CapitaLand Ascendas REIT 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. 2024 adds up the semi-annually data reported by the company within the most recent 12 months, which was $701 Mil.

* 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.


CapitaLand Ascendas REIT  (OTCPK:ACDSF) Operating Income Explanation

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

CapitaLand Ascendas REIT's annualized ROC % for the quarter that ended in Jun. 2024 is calculated as:

ROC % (Q: Jun. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2023 ) + Invested Capital (Q: Jun. 2024 ))/ count )
=707.034 * ( 1 - -1.5% )/( (14317.434 + 14190.239)/ 2 )
=717.63951/14253.8365
=5.03 %

where

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))
=13715.022 - 317.951 - ( 166.338 - max(0, 1203.521 - 283.158+166.338))
=14317.434

Invested Capital(Q: Jun. 2024 )
=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))
=13527.684 - 298.724 - ( 123.667 - max(0, 1183.378 - 222.099+123.667))
=14190.239

Note: The Operating Income data used here is two times the semi-annual (Jun. 2024) data.

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

CapitaLand Ascendas REIT's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2024 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2023  Q: Jun. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=717.124/( ( (485.19 + max(-265.84, 0)) + (475.292 + max(-262.112, 0)) )/ 2 )
=717.124/( ( 485.19 + 475.292 )/ 2 )
=717.124/480.241
=149.33 %

where Working Capital is:

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(66.32 + 46.867 + 3.633) - (317.951 + 0 + 64.709)
=-265.84

Working Capital(Q: Jun. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(80.599 + 0 + 17.833) - (298.724 + 0 + 61.82)
=-262.112

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2024) EBIT data.

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

CapitaLand Ascendas REIT's Operating Margin % for the quarter that ended in Jun. 2024 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2024 )/Revenue (Q: Jun. 2024 )
=353.517/569.703
=62.05 %

* 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.

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.


CapitaLand Ascendas REIT Operating Income Related Terms

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CapitaLand Ascendas REIT Business Description

Traded in Other Exchanges
Address
168 Robinson Road, No. 30-01 Capital Tower, Singapore, SGP, 068912
CapitaLand Ascendas REIT is a real estate investment trust focusing on the industrial and business space. As of Sept. 30, 2024, it held a SGD 16.8 billion portfolio of 226 properties across Singapore, Australia, Europe, and the US The property types encompass business and science parks, high-specification industrial properties, data centers, light industrial properties, and logistics and distribution centers. The trust is externally managed by Ascendas Funds Management, a subsidiary of CapitaLand Investment, which owns a 17.5% stake in the trust.