Synergy Pharmaceuticals (FRA:S90) Operating Income : €-113.89 Mil (TTM As of Sep. 2018)

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What is Synergy Pharmaceuticals Operating Income?

Synergy Pharmaceuticals's Operating Income for the three months ended in Sep. 2018 was €-25.37 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2018 was €-113.89 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Synergy Pharmaceuticals's Operating Income for the three months ended in Sep. 2018 was €-25.37 Mil. Synergy Pharmaceuticals's Revenue for the three months ended in Sep. 2018 was €9.52 Mil. Therefore, Synergy Pharmaceuticals's Operating Margin % for the quarter that ended in Sep. 2018 was -266.62%.

Synergy Pharmaceuticals'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. Synergy Pharmaceuticals's annualized ROC % for the quarter that ended in Sep. 2018 was -184.52%. Synergy Pharmaceuticals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2018 was -9,363.10%.

Synergy Pharmaceuticals Operating Income Historical Data

The historical data trend for Synergy Pharmaceuticals'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.

Synergy Pharmaceuticals Operating Income Chart

Synergy Pharmaceuticals Annual Data

Trend

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Operating Income

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-45.49

-76.46

-91.64

-137.73

-187.76

Synergy Pharmaceuticals Quarterly Data
	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18
Operating Income	Get a 7-Day Free Trial															-40.02	-32.27	-31.35	-24.90	-25.37

Synergy Pharmaceuticals 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 Sep. 2018 adds up the quarterly data reported by the company within the most recent 12 months, which was €-113.89 Mil.

Synergy Pharmaceuticals (FRA:S90) Operating Income Explanation

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

Synergy Pharmaceuticals's annualized ROC % for the quarter that ended in Sep. 2018 is calculated as:

	ROC % (Q: Sep. 2018 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2018 )	+	Invested Capital (Q: Sep. 2018 ))	/ count )
=	-101.496 * ( 1 - -3.39% )	/	( (5.799	+	107.942)	/ 2 )
=	-104.9367144	/	56.8705
=	-184.52 %

where

	Invested Capital		(Q: Jun. 2018 )
=	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	))
=	82.694	-	24.48	-	( 52.415	-	max(0, 28.76	-	81.427	+	52.415	))
=	5.799

	Invested Capital		(Q: Sep. 2018 )
=	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	))
=	71.164	-	28.585	-	( 39.119	-	max(0, 135.344	-	69.981	+	39.119	))
=	107.942

Note: The Operating Income data used here is four times the quarterly (Sep. 2018) data.

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

Synergy Pharmaceuticals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2018 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2018 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2018		Q: Sep. 2018
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-101.496	/	( ( (1 + max(0.25200000000001, 0))	+	(0.916 + max(-2.008, 0)) )	/	2 )
=	-101.496	/	( ( 1.252	+	0.916 )	/	2 )
=	-101.496	/	1.084
=	-9,363.10 %

where Working Capital is:

	Working Capital		(Q: Jun. 2018 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(7.285	+	15.073	+	6.654)	-	(24.48	+	4.28	+	0)
=	0.25200000000001

	Working Capital		(Q: Sep. 2018 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(7.903	+	18.451	+	4.508)	-	(28.585	+	4.285	+	0)
=	-2.008

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2018) EBIT data.

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

Synergy Pharmaceuticals's Operating Margin % for the quarter that ended in Sep. 2018 is calculated as:

Operating Margin %	=	Operating Income (Q: Sep. 2018 )	/	Revenue (Q: Sep. 2018 )
	=	-25.374	/	9.517
	=	-266.62 %

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.

Synergy Pharmaceuticals Operating Income Related Terms

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

Synergy Pharmaceuticals (FRA:S90) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » Synergy Pharmaceuticals Inc (FRA:S90) » Definitions » Operating Income

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Traded in Other Exchanges

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Address

420 Lexington Avenue, Suite 2012, New York, NY, USA, 10170

Website

http://www.synergypharma.com

Synergy Pharmaceuticals Inc functions in the healthcare sector based in the United States. It focusses on developing therapies to combat gastrointestinal diseases. The company's basic ingredient is the uroguanylin analog, which it employs in its products candidates such as plecanatide and dolcanatide. Plecanatide is a once-daily tablet, which addresses chronic idiopathic constipation and the irritable bowel syndrome. Dolcanatide is meant to cure inflammatory bowel disease by aiding the process of digestive breakdown.

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