SCE Intelligent Commercial Management Holdings (HKSE:00606) Operating Income : HK$240 Mil (TTM As of Dec. 2023)

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What is SCE Intelligent Commercial Management Holdings Operating Income?

SCE Intelligent Commercial Management Holdings's Operating Income for the six months ended in Dec. 2023 was HK$75 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was HK$240 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. SCE Intelligent Commercial Management Holdings's Operating Income for the six months ended in Dec. 2023 was HK$75 Mil. SCE Intelligent Commercial Management Holdings's Revenue for the six months ended in Dec. 2023 was HK$686 Mil. Therefore, SCE Intelligent Commercial Management Holdings's Operating Margin % for the quarter that ended in Dec. 2023 was 10.94%.

Good Sign:

SCE Intelligent Commercial Management Holdings Ltd operating margin is expanding. Margin expansion is usually a good sign.

SCE Intelligent Commercial Management Holdings's 5-Year average Growth Rate for Operating Margin % was 6.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. SCE Intelligent Commercial Management Holdings's annualized ROC % for the quarter that ended in Dec. 2023 was 7.68%. SCE Intelligent Commercial Management Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 920.98%.

SCE Intelligent Commercial Management Holdings Operating Income Historical Data

The historical data trend for SCE Intelligent Commercial Management 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.

SCE Intelligent Commercial Management Holdings Operating Income Chart

SCE Intelligent Commercial Management Holdings Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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117.53

259.64

446.08

271.70

239.66

SCE Intelligent Commercial Management Holdings Semi-Annual Data
	Dec18	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Operating Income	Get a 7-Day Free Trial					194.53	205.66	75.78	164.61	75.05

SCE Intelligent Commercial Management 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 Dec. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was HK$240 Mil.

SCE Intelligent Commercial Management Holdings (HKSE:00606) Operating Income Explanation

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

SCE Intelligent Commercial Management Holdings'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: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	150.098 * ( 1 - 20.44% )	/	( (1171.608	+	1938.716)	/ 2 )
=	119.4179688	/	1555.162
=	7.68 %

where

	Invested Capital		(Q: Jun. 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	))
=	3592.498	-	435.185	-	( 2365.801	-	max(0, 705.62	-	2691.325	+	2365.801	))
=	1171.608

	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	))
=	3714.844	-	510.219	-	( 1265.909	-	max(0, 787.287	-	2483.296	+	1265.909	))
=	1938.716

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

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

SCE Intelligent Commercial Management Holdings'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: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	335.562	/	( ( (37.647 + max(-445.73, 0))	+	(35.224 + max(-487.123, 0)) )	/	2 )
=	335.562	/	( ( 37.647	+	35.224 )	/	2 )
=	335.562	/	36.4355
=	920.98 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(259.889	+	0	+	0.00099999999974898)	-	(435.185	+	0	+	270.435)
=	-445.73

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(300.164	+	0	+	-4.5474735088646E-13)	-	(510.219	+	0	+	277.068)
=	-487.123

When net working capital is negative, 0 is used.

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

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

SCE Intelligent Commercial Management Holdings'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 )
	=	75.049	/	686.255
	=	10.94 %

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.

SCE Intelligent Commercial Management Holdings Operating Income Related Terms

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SCE Intelligent Commercial Management Holdings (HKSE:00606) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » SCE Intelligent Commercial Management Holdings Ltd (HKSE:00606) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 2, Lane 1688, Shenchang Road, 5th Floor, SCE Tower, Hongqiao Business District, Shanghai, CHN

Website

http://www.sce-icm.com

SCE Intelligent Commercial Management Holdings Ltd is a comprehensive property management service provider managing both commercial and residential properties in China. The company's property management portfolio includes approximately 60 cities across 19 provinces, municipalities, and autonomous regions in China.

Executives

Boc Hong Kong (holdings) Limited	2201 Interest of corporation controlled by you
Luso International Banking Limited	2401 A concert party to an agreement to buy shares
Nan Yang Shang Ye Yin Hang Zhong Guo You Xian Gong Si Shen Zhen Fen Hang	2401 A concert party to an agreement to buy shares
Guang Zhou Yue Xiu Ji Tuan Gu Fen You Xian Gong Si	2201 Interest of corporation controlled by you
Chow Wai Shing Daniel (in The Capacity As The Receiver)	2501 Other
Wong Chiu Yeung	2201 Interest of corporation controlled by you
Cmb Wing Lung Bank Limited	2401 A concert party to an agreement to buy shares
The Bank Of East Asia, Limited	2401 A concert party to an agreement to buy shares
Hsbc Holdings Plc	2201 Interest of corporation controlled by you
Gardner Aaron Luke (in The Capacity As The Receiver)	2501 Other
Central Huijin Investment Ltd.	2201 Interest of corporation controlled by you
Affluent Way International Limited	2201 Interest of corporation controlled by you
Boc Hong Kong (group) Limited	2201 Interest of corporation controlled by you
Boc Hong Kong (bvi) Limited	2201 Interest of corporation controlled by you
Bank Of China Limited	2201 Interest of corporation controlled by you

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