King Fook Holdings (HKSE:00280) Operating Income : HK$81.4 Mil (TTM As of Sep. 2023)

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What is King Fook Holdings Operating Income?

King Fook Holdings's Operating Income for the six months ended in Sep. 2023 was HK$34.7 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2023 was HK$81.4 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. King Fook Holdings's Operating Income for the six months ended in Sep. 2023 was HK$34.7 Mil. King Fook Holdings's Revenue for the six months ended in Sep. 2023 was HK$363.9 Mil. Therefore, King Fook Holdings's Operating Margin % for the quarter that ended in Sep. 2023 was 9.54%.

King Fook Holdings'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. King Fook Holdings's annualized ROC % for the quarter that ended in Sep. 2023 was 16.95%. King Fook Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was 25.56%.

King Fook Holdings Operating Income Historical Data

The historical data trend for King Fook 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.

King Fook Holdings Operating Income Chart

King Fook Holdings Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Operating Income

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2.65

10.62

43.02

67.43

94.37

King Fook 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															37.52	29.91	47.70	46.67	34.73

King Fook 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$81.4 Mil.

King Fook Holdings (HKSE:00280) Operating Income Explanation

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

King Fook 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 )
=	69.46 * ( 1 - 0% )	/	( (454.804	+	364.794)	/ 2 )
=	69.46	/	409.799
=	16.95 %

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	))
=	854.184	-	26.996	-	( 372.384	-	max(0, 74.948	-	817.195	+	372.384	))
=	454.804

	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	))
=	971.271	-	123.339	-	( 483.138	-	max(0, 228.653	-	913.492	+	483.138	))
=	364.794

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:

King Fook 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 )
=	90.766	/	( ( (28.74 + max(356.914, 0))	+	(50.209 + max(274.245, 0)) )	/	2 )
=	90.766	/	( ( 385.654	+	324.454 )	/	2 )
=	90.766	/	355.054
=	25.56 %

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)
=	(1.07	+	387.379	+	14.824)	-	(26.996	+	0	+	19.363)
=	356.914

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(8.067	+	394.582	+	12.965)	-	(123.339	+	0	+	18.03)
=	274.245

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 %:

King Fook 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 )
	=	34.73	/	363.913
	=	9.54 %

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.

King Fook Holdings Operating Income Related Terms

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King Fook Holdings (HKSE:00280) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » King Fook Holdings Ltd (HKSE:00280) » Definitions » Operating Income

Traded in Other Exchanges

N/A

Address

30-32 Des Voeux Road Central, 9th Floor, King Fook Building, Hong Kong, HKG

Website

https://www.kingfook.com

King Fook Holdings Ltd is a Hong Kong-based investment holding company. It is engaged in Gold ornament, jewelry, watch and gift retailing, Bullion trading, and Diamond wholesaling activity. The majority of the revenue is generated from the retail of Gold ornaments, jewelry, watch, and gift. The Group has only one single reportable segment, which is retailing, bullion trading, and diamond wholesaling. Principally the group operates in Hong Kong.

Executives

Yeung Chi Shing Estates Limited

2101 Beneficial owner

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