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JMI Syringes & Medical Devices (DHA:JMISMDL) Operating Income : BDT46 Mil (TTM As of Dec. 2023)


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What is JMI Syringes & Medical Devices Operating Income?

JMI Syringes & Medical Devices's Operating Income for the three months ended in Dec. 2023 was BDT20 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was BDT46 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. JMI Syringes & Medical Devices's Operating Income for the three months ended in Dec. 2023 was BDT20 Mil. JMI Syringes & Medical Devices's Revenue for the three months ended in Dec. 2023 was BDT453 Mil. Therefore, JMI Syringes & Medical Devices's Operating Margin % for the quarter that ended in Dec. 2023 was 4.44%.

Warning Sign:

JMI Syringes & Medical Devices Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -24.5%.

JMI Syringes & Medical Devices's 5-Year average Growth Rate for Operating Margin % was -24.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. JMI Syringes & Medical Devices's annualized ROC % for the quarter that ended in Dec. 2023 was 0.31%. JMI Syringes & Medical Devices's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 3.10%.


JMI Syringes & Medical Devices Operating Income Historical Data

The historical data trend for JMI Syringes & Medical Devices'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.

JMI Syringes & Medical Devices Operating Income Chart

JMI Syringes & Medical Devices Annual Data
Trend Dec14 Dec15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 327.86 229.05 186.36 213.03 72.16

JMI Syringes & Medical Devices 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 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 21.82 13.75 1.14 11.17 20.11

JMI Syringes & Medical Devices 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 BDT46 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.


JMI Syringes & Medical Devices  (DHA:JMISMDL) Operating Income Explanation

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

JMI Syringes & Medical Devices'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 )
=80.432 * ( 1 - 89.32% )/( (2752.736 + 2713.628)/ 2 )
=8.5901376/2733.182
=0.31 %

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))
=3014 - 244.741 - ( 16.523 - max(0, 314.841 - 1579.503+16.523))
=2752.736

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))
=2928.861 - 193.017 - ( 22.216 - max(0, 257.432 - 1509.419+22.216))
=2713.628

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

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

JMI Syringes & Medical Devices'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 )
=84.176/( ( (1432.091 + max(1312.185, 0)) + (1417.037 + max(1272.107, 0)) )/ 2 )
=84.176/( ( 2744.276 + 2689.144 )/ 2 )
=84.176/2716.71
=3.10 %

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)
=(534.645 + 817.011 + 211.324) - (244.741 + 0 + 6.054)
=1312.185

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(570.324 + 733.728 + 183.151) - (193.017 + 0 + 22.079)
=1272.107

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 %:

JMI Syringes & Medical Devices'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 )
=20.108/452.983
=4.44 %

* 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.


JMI Syringes & Medical Devices Operating Income Related Terms

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JMI Syringes & Medical Devices (DHA:JMISMDL) Business Description

Traded in Other Exchanges
N/A
Address
117, Kazi Nazrul Islam Avenue, Unique Heights, Level-11, Ramna, Dhaka, BGD, 1217
JMI Syringes & Medical Devices Ltd is a Bangladesh-based syringe and medical device manufacturing company. It manufactures and markets disposable syringe, auto-disable syringe, needle, infusion set, scalp vein set, urine drainage bag, insulin syringe, First AID bandage, riles tube, IV Cannula, feeding tube, and Blood Lancets, and other products.

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