CMHHF (China Merchants Port Holdings Co) Operating Income : $572 Mil (TTM As of Jun. 2024)

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What is China Merchants Port Holdings Co Operating Income?

China Merchants Port Holdings Co's Operating Income for the six months ended in Jun. 2024 was $327 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2024 was $572 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. China Merchants Port Holdings Co's Operating Income for the six months ended in Jun. 2024 was $327 Mil. China Merchants Port Holdings Co's Revenue for the six months ended in Jun. 2024 was $742 Mil. Therefore, China Merchants Port Holdings Co's Operating Margin % for the quarter that ended in Jun. 2024 was 44.11%.

Good Sign:

China Merchants Port Holdings Co Ltd operating margin is expanding. Margin expansion is usually a good sign.

China Merchants Port Holdings Co's 5-Year average Growth Rate for Operating Margin % was 6.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. China Merchants Port Holdings Co's annualized ROC % for the quarter that ended in Jun. 2024 was 2.64%. China Merchants Port Holdings Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2024 was 39.43%.

China Merchants Port Holdings Co Operating Income Historical Data

The historical data trend for China Merchants Port Holdings 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.

China Merchants Port Holdings Co Operating Income Chart

China Merchants Port Holdings Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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304.06

264.84

485.06

508.64

501.81

China Merchants Port Holdings Co 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															313.07	193.05	256.48	244.57	327.27

China Merchants Port Holdings 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 Jun. 2024 adds up the semi-annually data reported by the company within the most recent 12 months, which was $572 Mil.

China Merchants Port Holdings Co (OTCPK:CMHHF) Operating Income Explanation

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

China Merchants Port Holdings Co'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 )
=	654.546 * ( 1 - 12.93% )	/	( (21876.744	+	21359.667)	/ 2 )
=	569.9132022	/	21618.2055
=	2.64 %

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	))
=	22063.817	-	527.414	-	( 2006.325	-	max(0, 2608.133	-	2267.792	+	2006.325	))
=	21876.744

	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	))
=	21891.677	-	824.584	-	( 1620.871	-	max(0, 2302.049	-	2009.475	+	1620.871	))
=	21359.667

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:

China Merchants Port Holdings Co'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 )
=	1638.412	/	( ( (3628.134 + max(-408.204, 0))	+	(4681.69 + max(-435.98, 0)) )	/	2 )
=	1638.412	/	( ( 3628.134	+	4681.69 )	/	2 )
=	1638.412	/	4154.912
=	39.43 %

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)
=	(107.301	+	23.944	+	0.76899999999978)	-	(527.414	+	0	+	12.804)
=	-408.204

	Working Capital		(Q: Jun. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(352.497	+	34.827	+	1.2799999999997)	-	(824.584	+	0	+	0)
=	-435.98

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 %:

China Merchants Port Holdings Co'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 )
	=	327.273	/	741.997
	=	44.11 %

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.

China Merchants Port Holdings Co Operating Income Related Terms

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China Merchants Port Holdings Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » China Merchants Port Holdings Co Ltd (OTCPK:CMHHF) » Definitions » Operating Income

Traded in Other Exchanges

CMHHY:USA 00144:Hong Kong CPM:Germany

Address

168-200 Connaught Road Central, 38th Floor, China Merchants Tower, Shun Tak Centre, Hong Kong, HKG

Website

https://www.cmport.com.hk

China Merchants Port Holdings Co Ltd is a company that operates ports. It has a port network that is geographically diversified and stretches along China's coastline, with a growing presence in overseas ports. The company's segments include port operations, covering container, bulk, and general cargo terminal operations managed by the Group, associates, and joint ventures. Bonded logistics operations involve logistic park management and port transportation. Other activities include property development and investment, logistics operations by associates, and property investments by the Group, all supported by integral corporate functions.