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Bursa De Valori Bucuresti (BSE:BVB) Operating Income : lei25.22 Mil (TTM As of Mar. 2024)


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What is Bursa De Valori Bucuresti Operating Income?

Bursa De Valori Bucuresti's Operating Income for the three months ended in Mar. 2024 was lei1.96 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 was lei25.22 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Bursa De Valori Bucuresti's Operating Income for the three months ended in Mar. 2024 was lei1.96 Mil. Bursa De Valori Bucuresti's Revenue for the three months ended in Mar. 2024 was lei17.25 Mil. Therefore, Bursa De Valori Bucuresti's Operating Margin % for the quarter that ended in Mar. 2024 was 11.38%.

Good Sign:

Bursa De Valori Bucuresti SA operating margin is expanding. Margin expansion is usually a good sign.

Bursa De Valori Bucuresti's 5-Year average Growth Rate for Operating Margin % was 6.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Bursa De Valori Bucuresti's annualized ROC % for the quarter that ended in Mar. 2024 was 5.87%. Bursa De Valori Bucuresti's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 41.44%.


Bursa De Valori Bucuresti Operating Income Historical Data

The historical data trend for Bursa De Valori Bucuresti'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.

Bursa De Valori Bucuresti Operating Income Chart

Bursa De Valori Bucuresti Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3.86 4.92 3.01 9.50 25.22

Bursa De Valori Bucuresti Quarterly Data
Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24
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 0.93 -0.81 19.38 4.69 1.96

Bursa De Valori Bucuresti 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 Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was lei25.22 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.


Bursa De Valori Bucuresti  (BSE:BVB) Operating Income Explanation

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

Bursa De Valori Bucuresti's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

ROC % (Q: Mar. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2023 ) + Invested Capital (Q: Mar. 2024 ))/ count )
=7.856 * ( 1 - 15.8% )/( (109.694 + 115.697)/ 2 )
=6.614752/112.6955
=5.87 %

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))
=238.139 - 31.492 - ( 103.447 - max(0, 41.806 - 138.759+103.447))
=109.694

Invested Capital(Q: Mar. 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))
=245.585 - 34.856 - ( 107.982 - max(0, 45.223 - 140.255+107.982))
=115.697

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

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

Bursa De Valori Bucuresti's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2023  Q: Mar. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=15.284/( ( (36.113 + max(-5.006, 0)) + (37.65 + max(-10.656, 0)) )/ 2 )
=15.284/( ( 36.113 + 37.65 )/ 2 )
=15.284/36.8815
=41.44 %

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)
=(11.002 + 0 + 23.373) - (31.492 + 0 + 7.889)
=-5.006

Working Capital(Q: Mar. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(8.494 + 0 + 23.779) - (34.856 + 0 + 8.073)
=-10.656

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

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

Bursa De Valori Bucuresti's Operating Margin % for the quarter that ended in Mar. 2024 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2024 )/Revenue (Q: Mar. 2024 )
=1.964/17.253
=11.38 %

* 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.


Bursa De Valori Bucuresti Operating Income Related Terms

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Bursa De Valori Bucuresti (BSE:BVB) Business Description

Traded in Other Exchanges
N/A
Address
34-36 Carol I Boulevard, 13th-14th Floor, District 2, Bucharest, ROU, 020922
Bursa De Valori Bucuresti SA is engaged in the management of the financial markets. The company's segment includes Capital markets, Post-trading services, Registry services, FCI services and Other services. Capital markets segment includes trading of securities and financial instruments transactions on regulated markets. Post-trading services include services provided after a transaction is completed and the bank account is debited, and the securities are transferred to the portfolio. Registry services include storage and updating of the registry of stakeholders for the listed companies. FCI services and other services are related to the investor's compensation scheme. Majority of revenue is generated from Trading services.

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