Oriental Enterprise Holdings (HKSE:00018) Operating Income : HK$97.6 Mil (TTM As of Sep. 2023)

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What is Oriental Enterprise Holdings Operating Income?

Oriental Enterprise Holdings's Operating Income for the six months ended in Sep. 2023 was HK$34.8 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2023 was HK$97.6 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Oriental Enterprise Holdings's Operating Income for the six months ended in Sep. 2023 was HK$34.8 Mil. Oriental Enterprise Holdings's Revenue for the six months ended in Sep. 2023 was HK$312.1 Mil. Therefore, Oriental Enterprise Holdings's Operating Margin % for the quarter that ended in Sep. 2023 was 11.14%.

Good Sign:

Oriental Enterprise Holdings Ltd operating margin is expanding. Margin expansion is usually a good sign.

Oriental Enterprise Holdings's 5-Year average Growth Rate for Operating Margin % was 20.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Oriental Enterprise Holdings's annualized ROC % for the quarter that ended in Sep. 2023 was 4.57%. Oriental Enterprise Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was 11.63%.

Oriental Enterprise Holdings Operating Income Historical Data

The historical data trend for Oriental Enterprise Holdings'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.

Oriental Enterprise Holdings Operating Income Chart

Oriental Enterprise Holdings Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Operating Income

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91.91

72.49

154.79

176.29

152.35

Oriental Enterprise Holdings Semi-Annual Data
	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
Operating Income	Get a 7-Day Free Trial															89.51	86.78	89.56	62.79	34.77

Oriental Enterprise Holdings 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. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was HK$97.6 Mil.

Oriental Enterprise Holdings (HKSE:00018) Operating Income Explanation

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

Oriental Enterprise Holdings's annualized ROC % for the quarter that ended in Sep. 2023 is calculated as:

	ROC % (Q: Sep. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2023 )	+	Invested Capital (Q: Sep. 2023 ))	/ count )
=	69.544 * ( 1 - 8.54% )	/	( (1160.592	+	1623.007)	/ 2 )
=	63.6049424	/	1391.7995
=	4.57 %

where

	Invested Capital		(Q: Mar. 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	))
=	1892.177	-	66.389	-	( 665.196	-	max(0, 86.163	-	1119.815	+	665.196	))
=	1160.592

	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	))
=	1948.405	-	72.169	-	( 253.229	-	max(0, 128.388	-	1204.685	+	253.229	))
=	1623.007

Note: The Operating Income data used here is two times the semi-annual (Sep. 2023) data.

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

Oriental Enterprise Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2023		Q: Sep. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	71.172	/	( ( (419.186 + max(67.883, 0))	+	(408.643 + max(328.152, 0)) )	/	2 )
=	71.172	/	( ( 487.069	+	736.795 )	/	2 )
=	71.172	/	611.932
=	11.63 %

where Working Capital is:

	Working Capital		(Q: Mar. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(58.774	+	74.483	+	13.217)	-	(66.389	+	0	+	12.202)
=	67.883

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(44.421	+	77.325	+	290.503)	-	(72.169	+	0	+	11.928)
=	328.152

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Sep. 2023) EBIT data.

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

Oriental Enterprise Holdings's Operating Margin % for the quarter that ended in Sep. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Sep. 2023 )	/	Revenue (Q: Sep. 2023 )
	=	34.772	/	312.085
	=	11.14 %

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.

Oriental Enterprise Holdings Operating Income Related Terms

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

Oriental Enterprise Holdings (HKSE:00018) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » Oriental Enterprise Holdings Ltd (HKSE:00018) » Definitions » Operating Income

Traded in Other Exchanges

OPQ:Germany

Address

23 Dai Cheong Street, Oriental Media Centre, Tai Po Industrial Estate, Hong Kong, HKG

Website

https://oeh.on.cc

Oriental Enterprise Holdings Ltd, formerly Oriental Press Group Ltd is a Hong Kong-based company engaged in the publication of newspapers including internet subscription and advertising income. The firm operates in the reportable segments of Publication of newspapers, Money lending business and Others. The Publication of newspapers segment, which acts as a major revenue earner, includes internet subscription and relevant advertising income. The revenue of other operating segments includes rental income from investment properties, license fee income from hotel property and income from restaurant operation. It has a geographic presence in Hong Kong and Australia.

Executives

Conyers Trustee Services (bvi) Limited	2301 Trustee
Marsun Holdings Limited	2201 Interest of corporation controlled by you
Ocean Greatness Limited	2201 Interest of corporation controlled by you
Ever Holdings Limited	2101 Beneficial owner
Hung Mui Fong	2202 Interest of your spouse
Ma Ching Fat	2307 Founder of a discretionary trust who can infl

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