BPZ Resources (FRA:NA4) Operating Income : €-54.93 Mil (TTM As of Mar. 2015)

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What is BPZ Resources Operating Income?

BPZ Resources's Operating Income for the three months ended in Mar. 2015 was €-7.51 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2015 was €-54.93 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. BPZ Resources's Operating Income for the three months ended in Mar. 2015 was €-7.51 Mil. BPZ Resources's Revenue for the three months ended in Mar. 2015 was €10.46 Mil. Therefore, BPZ Resources's Operating Margin % for the quarter that ended in Mar. 2015 was -71.84%.

Good Sign:

BPZ Resources Inc operating margin is expanding. Margin expansion is usually a good sign.

BPZ Resources's 5-Year average Growth Rate for Operating Margin % was 3.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. BPZ Resources's annualized ROC % for the quarter that ended in Mar. 2015 was -10.57%. BPZ Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2015 was -32.55%.

BPZ Resources Operating Income Historical Data

The historical data trend for BPZ Resources'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.

BPZ Resources Operating Income Chart

BPZ Resources Annual Data

Trend

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Operating Income

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-45.96

-8.76

-21.80

-26.58

-46.77

BPZ Resources Quarterly Data
	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15
Operating Income	Get a 7-Day Free Trial															1.54	3.21	-31.11	-19.53	-7.51

BPZ Resources 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. 2015 adds up the quarterly data reported by the company within the most recent 12 months, which was €-54.93 Mil.

BPZ Resources (FRA:NA4) Operating Income Explanation

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

BPZ Resources's annualized ROC % for the quarter that ended in Mar. 2015 is calculated as:

	ROC % (Q: Mar. 2015 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2014 )	+	Invested Capital (Q: Mar. 2015 ))	/ count )
=	-30.056 * ( 1 - -2.27% )	/	( (358.198	+	223.531)	/ 2 )
=	-30.7382712	/	290.8645
=	-10.57 %

where

	Invested Capital		(Q: Dec. 2014 )
=	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	))
=	236.293	-	12.803	-	( 50.403	-	max(0, 204.885	-	70.177	+	50.403	))
=	358.198

	Invested Capital		(Q: Mar. 2015 )
=	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	))
=	254.55	-	11.65	-	( 25.884	-	max(0, 30.059	-	49.428	+	25.884	))
=	223.531

Note: The Operating Income data used here is four times the quarterly (Mar. 2015) data.

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

BPZ Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2015 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2015 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2014		Q: Mar. 2015
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-49.356	/	( ( (134.602 + max(-15.3, 0))	+	(168.658 + max(-11.109, 0)) )	/	2 )
=	-49.356	/	( ( 134.602	+	168.658 )	/	2 )
=	-49.356	/	151.63
=	-32.55 %

where Working Capital is:

	Working Capital		(Q: Dec. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.195	+	9.633	+	4.95)	-	(12.803	+	0	+	18.275)
=	-15.3

	Working Capital		(Q: Mar. 2015 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3.36	+	10.888	+	4.702)	-	(11.65	+	0	+	18.409)
=	-11.109

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2015) EBIT data.

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

BPZ Resources's Operating Margin % for the quarter that ended in Mar. 2015 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2015 )	/	Revenue (Q: Mar. 2015 )
	=	-7.514	/	10.459
	=	-71.84 %

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.

BPZ Resources Operating Income Related Terms

Thank you for viewing the detailed overview of BPZ Resources's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

BPZ Resources (FRA:NA4) Business Description

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GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » BPZ Resources Inc (FRA:NA4) » Definitions » Operating Income

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Address

Website

http://www.bpzenergy.com

BPZ Resources Inc is a Texas corporation, incorporated in 1993. The Company is an independent oil and gas company engaged in the exploration, development and production of oil and natural gas in Peru and Ecuador. The Company is in the process of developing its Peruvian oil and gas reserves. It has completed the installation of the new CX-15 platform in the Corvina field to continue the development of the field and continued its drilling campaign there with completion of the CX-15-1D well. The customer of the Company is Peruvian national oil company, Petroleos del Peru - PETROPERU S.A.

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