Csepel (BUD:CSEPEL) Operating Income: Ft-0.5 Mil (TTM As of Dec. 2019)

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BUD:CSEPEL Csepel BUD:CSEPEL
3 GF Score
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What is Csepel Operating Income?

Csepel BUD:CSEPEL 3 Operating Income is Ft-0.5 Mil as of Dec. 2019. GuruFocus rates BUD:CSEPEL with a GF Score™ of 3/100.

Csepel's Operating Income for the six months ended in Dec. 2019 was Ft-41.4 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2019 was Ft-0.5 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Csepel's Operating Income for the six months ended in Dec. 2019 was Ft-41.4 Mil. Csepel's Revenue for the six months ended in Dec. 2019 was Ft206.5 Mil. Therefore, Csepel's Operating Margin % for the quarter that ended in Dec. 2019 was -20.05%.

Csepel'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. Csepel's annualized ROC % for the quarter that ended in Dec. 2019 was -18.01%. Csepel's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2019 was -55.88%.


Csepel  (BUD:CSEPEL) Operating Income Explanation

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

Csepel's annualized ROC % for the quarter that ended in Dec. 2019 is calculated as:

ROC % (Q: Dec. 2019 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2019 ) + Invested Capital (Q: Dec. 2019 ))/ count )
=-82.81 * ( 1 - 0% )/( (680.854 + 238.772)/ 2 )
=-82.81/459.813
=-18.01 %

where

Invested Capital(Q: Jun. 2019 )
=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))
=1526.497 - 1092.717 - ( 0.45 - max(0, 1701.404 - 1454.33+0.45))
=680.854

Invested Capital(Q: Dec. 2019 )
=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))
=1405.056 - 1440.415 - ( 0.323 - max(0, 1609.769 - 1335.638+0.323))
=238.772

Note: The Operating Income data used here is two times the semi-annual (Dec. 2019) data.

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

Csepel's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2019 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2019 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2019  Q: Dec. 2019
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-39.418/( ( (71.872 + max(-576.028, 0)) + (69.197 + max(-612.901, 0)) )/ 2 )
=-39.418/( ( 71.872 + 69.197 )/ 2 )
=-39.418/70.5345
=-55.88 %

where Working Capital is:

Working Capital(Q: Jun. 2019 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(298.519 + 745.786 + 2.4999999999998) - (1092.717 + 0 + 530.116)
=-576.028

Working Capital(Q: Dec. 2019 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(138.964 + 764.07 + 15.297) - (1440.415 + 0 + 90.817)
=-612.901

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2019) EBIT data.

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

Csepel's Operating Margin % for the quarter that ended in Dec. 2019 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2019 )/Revenue (Q: Dec. 2019 )
=-41.405/206.529
=-20.05 %

* 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.


Csepel Operating Income Related Terms


Csepel Operating Income Historical Data

* Premium members only.

The historical data trend for Csepel'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.

Csepel Operating Income Chart

Csepel Annual Data
Trend Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 22.70 -269.65 -317.67 -69.60 -0.47

Csepel Semi-Annual Data
Jun10 Dec10 Jun11 Dec11 Jun12 Dec12 Jun13 Dec13 Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19
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 -4.17 93.37 -162.97 40.94 -41.41
BUD:CSEPEL
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Csepel BUD:CSEPEL
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Csepel 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. 2019 adds up the semi-annually data reported by the company within the most recent 12 months, which was Ft-0.5 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.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of Ft-0.5 Mil mean?
Csepel (BUD:CSEPEL) has a Operating Income of Ft-0.5 Mil as of Dec. 2019. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Csepel and its competitors.
Is Csepel's Operating Income too high?
Csepel's current Operating Income is Ft-0.5 Mil. Overall, Csepel has a GF Score™ of 3/100, reflecting its overall financial health beyond just this single metric.
How does Csepel's Operating Income compare to HON and MMM?
Csepel's Operating Income of Ft-0.5 Mil can be compared against companies in the Industrial Products industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for an Industrial Products company?
A good Operating Income depends on the Industrial Products industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Csepel and its competitors. Csepel's current Operating Income is Ft-0.5 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Csepel stock overvalued right now?
Csepel (BUD:CSEPEL) has a current Operating Income of Ft-0.5 Mil. The current Operating Income is Ft-0.5 Mil. Csepel's overall GF Score™ is 3/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Csepel (BUD:CSEPEL), the current Operating Income is Ft-0.5 Mil as of Dec. 2019. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Csepel Business Description

Address Sewing Machine Factory Street 1, Budapest, HUN, 1211
Csepel operates in the diversified industrials in Hungary. The company is engaged in industrial machinery and equipment manufacturing.
3GF Score

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Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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