The Brink's Co (The Brink's Co) Operating Income : $481 Mil (TTM As of Dec. 2023)

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What is The Brink's Co Operating Income?

The Brink's Co's Operating Income for the three months ended in Dec. 2023 was $152 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $481 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. The Brink's Co's Operating Income for the three months ended in Dec. 2023 was $152 Mil. The Brink's Co's Revenue for the three months ended in Dec. 2023 was $1,246 Mil. Therefore, The Brink's Co's Operating Margin % for the quarter that ended in Dec. 2023 was 12.18%.

Good Sign:

The Brink's Co operating margin is expanding. Margin expansion is usually a good sign.

The Brink's Co's 5-Year average Growth Rate for Operating Margin % was 5.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. The Brink's Co's annualized ROC % for the quarter that ended in Dec. 2023 was -1.51%. The Brink's Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 30.20%.

The Brink's Co Operating Income Historical Data

The historical data trend for The Brink's 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.

The Brink's Co Operating Income Chart

The Brink's Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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249.60

233.00

301.90

379.20

481.90

The Brink's Co 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															145.70	88.80	104.70	135.90	151.70

The Brink's 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. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $481 Mil.

The Brink's Co (NYSE:BCO) Operating Income Explanation

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

The Brink's Co'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 )
=	606.8 * ( 1 - 110.86% )	/	( (4203.6	+	4541)	/ 2 )
=	-65.89848	/	4372.3
=	-1.51 %

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	))
=	6264.8	-	1223.4	-	( 933.5	-	max(0, 1624.6	-	2462.4	+	933.5	))
=	4203.6

	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	))
=	6601.8	-	1216.6	-	( 1176.6	-	max(0, 1944.1	-	2788.3	+	1176.6	))
=	4541

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

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

The Brink's Co'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 )
=	419.2	/	( ( (1304.2 + max(121.2, 0))	+	(1351 + max(-95.799999999999, 0)) )	/	2 )
=	419.2	/	( ( 1425.4	+	1351 )	/	2 )
=	419.2	/	1388.2
=	30.20 %

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)
=	(801.3	+	0	+	727.6)	-	(1223.4	+	0	+	184.3)
=	121.2

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(684.6	+	0	+	815.4)	-	(1216.6	+	21.4	+	357.8)
=	-95.799999999999

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 %:

The Brink's Co'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 )
	=	151.7	/	1245.6
	=	12.18 %

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.

The Brink's Co Operating Income Related Terms

Thank you for viewing the detailed overview of The Brink's Co's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

The Brink's Co (The Brink's Co) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » The Brink's Co (NYSE:BCO) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

PTY:Germany PTY:Germany

Address

1801 Bayberry Court, P.O. Box 18100, Richmond, VA, USA, 23226-8100

Website

https://www.brinks.com

The Brink's Co is a Global provider of secure logistics and security solutions for cash and other valuables. In 2020, the company acquired the U.K.-based G4S that reorganized its operating segments to be North America, Latin America, Europe, and Rest of World. It generates maximum revenue from the North America segment, namely from its core business of cash-in-transit and ATM services. The Latin America and Europe segments trail North America in revenue earnings with the Brinks Global Services line of business that specializes in the secure transportation of high-valued commodities, such as jewelry, precious metals, banknotes, and electronics. Brink's customer base includes financial institutions, retails, government agencies, mints, and other commercial businesses.

Executives

Arthelbert Louis Parker	director	THE BRINK'S COMPANY, 1801 BAYBERRY CT, 4TH FL, PO BOX 18100, RICHMOND VA 23226
Dominik Bossart	officer: SVP	1800 BAYBERRY COURT, PO BOX 18100, RICHMOND VA 23226
Elizabeth A Galloway	officer: EVP and CHRO	AT HOME GROUP INC., 1600 EAST PLANO PARKWAY, PLANO TX 75074
Michael F Beech	officer: Executive Vice President	THE BRINK'S COMPANY, 1801 BAYBERRY COURT, 4TH FLOOR, RICHMOND VA 23226
Michael J Herling	director	177 BROAD STREET, 15TH FLOOR, STAMFORD CT 06901
Keith R Wyche	director	1801 BAYBERRY COURT, PO BOX 18100, RICHMOND VA 23226
Kurt B Mcmaken	officer: EVP, Chief Financial Officer	THE BRINK'S COMANY, 1801 BAYBERRY COURT, PO BOX 18100, RICHMOND VA 23226
Simon Davis	officer: SVP, CHRO	5757 N GREEN BAY AVE, MILWAUKEE WI 53209
Daniel J Castillo	officer: EVP	2645 SILVER CRESCENT DRIVE, CHARLOTTE NC 28273
Susan E Docherty	director	THE BRINK'S COMPANY, 1801 BAYBERRY COURT, 4TH FLOOR, RICHMOND VA 23226
Kathie J. Andrade	director	6300 LAMAR AVENUE, OVERLAND PARK KS 66202
Rohan Pal	officer: EVP, Chief Information Officer	1801 BAYBERRY COURT, RICHMOND VA 23226
Michael E Sweeney	officer: Controller	C/O LIQUIDITY SERVICES, INC., 1920 L STREET, N.W., 6TH FLOOR, WASHINGTON DC 20036
Timothy Joseph Tynan	director	1801 BAYBERRY COURT, PO BOX 18100, RICHMOND VA 23226
Lindsay K. Blackwood	officer: EVP & General Counsel	1801 BAYBERRY COURT, PO BOX 18100, RICHMOND VA 23226