China Maple Leaf Educational Systems (HKSE:01317) Operating Income : HK$297 Mil (TTM As of Aug. 2024)

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What is China Maple Leaf Educational Systems Operating Income?

China Maple Leaf Educational Systems's Operating Income for the six months ended in Aug. 2024 was HK$103 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Aug. 2024 was HK$297 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. China Maple Leaf Educational Systems's Operating Income for the six months ended in Aug. 2024 was HK$103 Mil. China Maple Leaf Educational Systems's Revenue for the six months ended in Aug. 2024 was HK$622 Mil. Therefore, China Maple Leaf Educational Systems's Operating Margin % for the quarter that ended in Aug. 2024 was 16.62%.

Good Sign:

China Maple Leaf Educational Systems Ltd operating margin is expanding. Margin expansion is usually a good sign.

China Maple Leaf Educational Systems's 5-Year average Growth Rate for Operating Margin % was 2.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. China Maple Leaf Educational Systems's annualized ROC % for the quarter that ended in Aug. 2024 was 1.79%. China Maple Leaf Educational Systems's annualized ROC (Joel Greenblatt) % for the quarter that ended in Aug. 2024 was 14.16%.

China Maple Leaf Educational Systems Operating Income Historical Data

The historical data trend for China Maple Leaf Educational Systems'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.

China Maple Leaf Educational Systems Operating Income Chart

China Maple Leaf Educational Systems Annual Data

Trend

Aug15

Aug16

Aug17

Aug18

Aug19

Aug20

Aug21

Aug22

Aug23

Aug24

Operating Income

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25.60

204.55

157.03

209.90

300.30

China Maple Leaf Educational Systems Semi-Annual Data
	Aug15	Feb16	Aug16	Feb17	Aug17	Feb18	Aug18	Feb19	Aug19	Feb20	Aug20	Feb21	Aug21	Feb22	Aug22	Feb23	Aug23	Feb24	Aug24	Feb25
Operating Income	Get a 7-Day Free Trial															107.06	109.18	196.25	103.43	193.31

China Maple Leaf Educational Systems 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 Aug. 2024 adds up the semi-annually data reported by the company within the most recent 12 months, which was HK$297 Mil.

China Maple Leaf Educational Systems (HKSE:01317) Operating Income Explanation

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

China Maple Leaf Educational Systems's annualized ROC % for the quarter that ended in Aug. 2024 is calculated as:

	ROC % (Q: Aug. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Feb. 2024 )	+	Invested Capital (Q: Aug. 2024 ))	/ count )
=	206.868 * ( 1 - 37.45% )	/	( (8026.316	+	6445.77)	/ 2 )
=	129.395934	/	7236.043
=	1.79 %

where

	Invested Capital		(Q: Feb. 2024 )
=	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	))
=	6654.535	-	581.069	-	( 674.71	-	max(0, 2908.133	-	955.283	+	674.71	))
=	8026.316

	Invested Capital		(Q: Aug. 2024 )
=	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	))
=	6764.538	-	942.315	-	( 669.969	-	max(0, 1590.234	-	966.687	+	669.969	))
=	6445.77

Note: The Operating Income data used here is two times the semi-annual (Aug. 2024) data.

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

China Maple Leaf Educational Systems's annualized ROC (Joel Greenblatt) % for the quarter that ended in Aug. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Aug. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Feb. 2024		Q: Aug. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	345.766	/	( ( (2438.538 + max(-1086.977, 0))	+	(2446.23 + max(-1473.449, 0)) )	/	2 )
=	345.766	/	( ( 2438.538	+	2446.23 )	/	2 )
=	345.766	/	2442.384
=	14.16 %

where Working Capital is:

	Working Capital		(Q: Feb. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(9.96	+	11.661	+	20.875)	-	(581.069	+	0	+	548.404)
=	-1086.977

	Working Capital		(Q: Aug. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(12.857	+	13.674	+	54.313)	-	(942.315	+	0	+	611.978)
=	-1473.449

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Aug. 2024) EBIT data.

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

China Maple Leaf Educational Systems's Operating Margin % for the quarter that ended in Aug. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Aug. 2024 )	/	Revenue (Q: Aug. 2024 )
	=	103.434	/	622.251
	=	16.62 %

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.

China Maple Leaf Educational Systems Operating Income Related Terms

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China Maple Leaf Educational Systems Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Education » China Maple Leaf Educational Systems Ltd (HKSE:01317) » Definitions » Operating Income

Comparable Companies

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CML1:Germany

Address

No. 13, Baolong First Road, Baolong Street, Longgang District, Guangdong Province, Shenzhen, CHN, 518116

Website

http://www.mapleleaf.cn

China Maple Leaf Educational Systems Ltd provides one of China's private international school systems and has been a Chinese international school operator. Its Maple Leaf Systems and its secondary, middle, elementary, and foreign national schools have been accredited by Cognia, since 2017. The core component of business is a bilingual, dual-curriculum and dual-diploma high school education. It enables graduates of People's Republic of China, or PRC, and British Columbia, or BC, certified schools to receive both a fully accredited BC high school diploma and a PRC high school diploma. It operates all schools under the Maple Leaf brand. The company's reportable segment includes, PRC segment, and the Overseas segment which generates majority of the revenue of the company.

Executives

Sherman International Investment Limited	2201 Interest of corporation controlled by you
Sherman Investment Holdings Limited	2101 Beneficial owner
Jen Shu Liang Sherman	2307 Founder of a discretionary trust who can infl
Yan Mei Chen Amy	2202 Interest of your spouse
Hsbc International Trustee Limited	2301 Trustee
Ubs Group Ag	2201 Interest of corporation controlled by you
Jpmorgan Chase & Co.	2201 Interest of corporation controlled by you
Fischer Seth Hillel	2201 Interest of corporation controlled by you
Oasis Investments Ii Master Fund Ltd.	2201 Interest of corporation controlled by you
Oasis Investments Ii Offshore Feeder Ltd.	2101 Beneficial owner
Oasis Management Company Ltd.	2102 Investment manager

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