Danieli & C. Officine Meccaniche SpA (CHIX:DANRM) Operating Income : €287 Mil (TTM As of Jun. 2024)

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What is Danieli & C. Officine Meccaniche SpA Operating Income?

Danieli & C. Officine Meccaniche SpA's Operating Income for the six months ended in Jun. 2024 was €185 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2024 was €287 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Danieli & C. Officine Meccaniche SpA's Operating Income for the six months ended in Jun. 2024 was €185 Mil. Danieli & C. Officine Meccaniche SpA's Revenue for the six months ended in Jun. 2024 was €2,277 Mil. Therefore, Danieli & C. Officine Meccaniche SpA's Operating Margin % for the quarter that ended in Jun. 2024 was 8.12%.

Danieli & C. Officine Meccaniche SpA'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. Danieli & C. Officine Meccaniche SpA's annualized ROC % for the quarter that ended in Jun. 2024 was 7.06%. Danieli & C. Officine Meccaniche SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2024 was 40.03%.

Danieli & C. Officine Meccaniche SpA Operating Income Historical Data

The historical data trend for Danieli & C. Officine Meccaniche SpA'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.

Danieli & C. Officine Meccaniche SpA Operating Income Chart

Danieli & C. Officine Meccaniche SpA Annual Data

Trend

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Operating Income

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94.03

-23.12

-42.87

324.67

287.32

Danieli & C. Officine Meccaniche SpA Semi-Annual Data
	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Operating Income	Get a 7-Day Free Trial															-107.20	91.37	233.29	102.48	184.84

Danieli & C. Officine Meccaniche SpA 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 €287 Mil.

Danieli & C. Officine Meccaniche SpA (CHIX:DANRm) Operating Income Explanation

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

Danieli & C. Officine Meccaniche SpA'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 )
=	369.686 * ( 1 - 25.34% )	/	( (3798.459	+	4022.165)	/ 2 )
=	276.0075676	/	3910.312
=	7.06 %

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	))
=	7205.149	-	1612.05	-	( 2594.671	-	max(0, 4057.21	-	5851.85	+	2594.671	))
=	3798.459

	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	))
=	7493.775	-	1686.71	-	( 2624.022	-	max(0, 4215.942	-	6000.842	+	2624.022	))
=	4022.165

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:

Danieli & C. Officine Meccaniche SpA'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 )
=	407.894	/	( ( (994.907 + max(-1640.084, 0))	+	(1042.798 + max(-1837.299, 0)) )	/	2 )
=	407.894	/	( ( 994.907	+	1042.798 )	/	2 )
=	407.894	/	1018.8525
=	40.03 %

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)
=	(1107.829	+	776.528	+	455.085)	-	(1612.05	+	0	+	2367.476)
=	-1640.084

	Working Capital		(Q: Jun. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1068.276	+	765.653	+	450.798)	-	(1686.71	+	0	+	2435.316)
=	-1837.299

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 %:

Danieli & C. Officine Meccaniche SpA'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 )
	=	184.843	/	2277.166
	=	8.12 %

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.

Danieli & C. Officine Meccaniche SpA Operating Income Related Terms

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Danieli & C. Officine Meccaniche SpA Business Description

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GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Danieli & C. Officine Meccaniche SpA (CHIX:DANRm) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

DANR:Italy DAN:Italy DANm:UK 0N4I:UK 0APM:UK DAS:Germany

Address

Via Nazionale 41, Buttrio, Udine, ITA, 33042

Website

https://www.danieli.com

Danieli & C. Officine Meccaniche SpA is an Italy-based company that is engaged in manufacturing and distribution of steel and other nonferrous metal products as well as plant building. The company operates through two segments, namely steelmaking and plant making. The Steelmaking segment manufactures ingots, forged bars, blooms, rolled bars, bar in coils and others. End customers primarily come from the mechanical, automotive, oil & gas, power generation and other sectors. The Plant Making segment designs and builds mines, pellet production plants, furnaces, rolling mills and other various plants and facilities. The company has a global presence, with Europe, Middle East and Far East being the three largest markets for the company.

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