Charter Hall Long WALE REIT (ASX:CLW) Operating Income : A$148.9 Mil (TTM As of Dec. 2023)

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What is Charter Hall Long WALE REIT Operating Income?

Charter Hall Long WALE REIT's Operating Income for the six months ended in Dec. 2023 was A$74.4 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was A$148.9 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Charter Hall Long WALE REIT's Operating Income for the six months ended in Dec. 2023 was A$74.4 Mil. Charter Hall Long WALE REIT's Revenue for the six months ended in Dec. 2023 was A$110.2 Mil. Therefore, Charter Hall Long WALE REIT's Operating Margin % for the quarter that ended in Dec. 2023 was 67.56%.

Good Sign:

Charter Hall Long WALE REIT operating margin is expanding. Margin expansion is usually a good sign.

Charter Hall Long WALE REIT's 5-Year average Growth Rate for Operating Margin % was 1.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Charter Hall Long WALE REIT's annualized ROC % for the quarter that ended in Dec. 2023 was 2.47%. Charter Hall Long WALE REIT's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -2,077.64%.

Charter Hall Long WALE REIT Operating Income Historical Data

The historical data trend for Charter Hall Long WALE 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.

Charter Hall Long WALE REIT Operating Income Chart

Charter Hall Long WALE REIT Annual Data

Trend

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Operating Income

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47.51

87.47

109.66

155.51

151.61

Charter Hall Long WALE REIT Semi-Annual Data
	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Operating Income	Get a 7-Day Free Trial										67.63	87.88	77.17	74.43	74.44

Charter Hall Long WALE 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 Dec. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was A$148.9 Mil.

Charter Hall Long WALE REIT (ASX:CLW) Operating Income Explanation

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

Charter Hall Long WALE REIT'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: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	148.886 * ( 1 - 0% )	/	( (6162.254	+	5874.929)	/ 2 )
=	148.886	/	6018.5915
=	2.47 %

where

	Invested Capital		(Q: Jun. 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	))
=	6203.453	-	83.557	-	( 19.682	-	max(0, 90.673	-	48.315	+	19.682	))
=	6162.254

	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	))
=	5931.777	-	31.993	-	( 24.855	-	max(0, 91.182	-	157.703	+	24.855	))
=	5874.929

Note: The Operating Income data used here is two times the semi-annual (Dec. 2023) data.

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

Charter Hall Long WALE REIT'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: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-432.834	/	( ( (0 + max(-81.983, 0))	+	(0 + max(41.666, 0)) )	/	2 )
=	-432.834	/	( ( 0	+	41.666 )	/	2 )
=	-432.834	/	20.833
=	-2,077.64 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3.865	+	0	+	4.825)	-	(83.557	+	7.025	+	0.090999999999994)
=	-81.983

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(23.464	+	0	+	109.384)	-	(31.993	+	0	+	59.189)
=	41.666

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

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

Charter Hall Long WALE REIT'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 )
	=	74.443	/	110.185
	=	67.56 %

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.

Charter Hall Long WALE REIT Operating Income Related Terms

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Charter Hall Long WALE REIT (ASX:CLW) Business Description

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CHLWF:USA

Address

No. 1 Martin Place, Level 20, Sydney, NSW, AUS, 2000

Website

https://www.charterhall.com.au

Charter Hall Long Wale REIT is a diversified property trust, with assets in Australia and New Zealand. Occupancy is near 100%, and weighted average lease length is a long 11.2 years (as at June 30, 2023). More than half the REIT's leases are triple-net, where tenants pay rates, maintenance and most outgoings. The REIT's about AUD 7 billion portfolio of 550 properties spans offices, industrial, retail, social infrastructure, and agricultural logistics assets, with about 79% of the portfolio on Australia's eastern seaboard. Leases are evenly spread between CPI-linked (7.2% average rent increase expected in 2023) and fixed uplifts (average 3.1% uplift expected). The tenant profile is strong, with almost all occupiers being government, multinational or national businesses.