China Isotope & Radiation (HKSE:01763) Operating Income : HK$880 Mil (TTM As of Dec. 2023)

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What is China Isotope & Radiation Operating Income?

China Isotope & Radiation's Operating Income for the six months ended in Dec. 2023 was HK$505 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was HK$880 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. China Isotope & Radiation's Operating Income for the six months ended in Dec. 2023 was HK$505 Mil. China Isotope & Radiation's Revenue for the six months ended in Dec. 2023 was HK$4,260 Mil. Therefore, China Isotope & Radiation's Operating Margin % for the quarter that ended in Dec. 2023 was 11.86%.

Warning Sign:

China Isotope & Radiation Corp operating margin has been in a 5-year decline. The average rate of decline per year is -6.4%.

China Isotope & Radiation's 5-Year average Growth Rate for Operating Margin % was -6.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. China Isotope & Radiation's annualized ROC % for the quarter that ended in Dec. 2023 was 9.94%. China Isotope & Radiation's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 26.71%.

China Isotope & Radiation Operating Income Historical Data

The historical data trend for China Isotope & Radiation'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 Isotope & Radiation Operating Income Chart

China Isotope & Radiation Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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712.75

702.92

907.90

1,000.45

879.98

China Isotope & Radiation Semi-Annual Data
	Dec15	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Operating Income	Get a 7-Day Free Trial											595.29	366.62	651.18	374.73	505.25

China Isotope & Radiation 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$880 Mil.

China Isotope & Radiation (HKSE:01763) Operating Income Explanation

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

China Isotope & Radiation'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 )
=	1010.5 * ( 1 - 13.88% )	/	( (9870.203	+	7647.692)	/ 2 )
=	870.2426	/	8758.9475
=	9.94 %

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	))
=	12903.126	-	653.447	-	( 2379.476	-	max(0, 4440.945	-	8141.448	+	2379.476	))
=	9870.203

	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	))
=	14428.814	-	3638.641	-	( 3142.481	-	max(0, 4652.849	-	8962.937	+	3142.481	))
=	7647.692

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:

China Isotope & Radiation'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 )
=	1296.556	/	( ( (3224.069 + max(1340.15, 0))	+	(3938.886 + max(1206.484, 0)) )	/	2 )
=	1296.556	/	( ( 4564.219	+	5145.37 )	/	2 )
=	1296.556	/	4854.7945
=	26.71 %

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)
=	(4048.616	+	914.053	+	694.099)	-	(653.447	+	0	+	3663.171)
=	1340.15

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4341.347	+	890.516	+	389.913)	-	(3638.641	+	0	+	776.651)
=	1206.484

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 %:

China Isotope & Radiation'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 )
	=	505.25	/	4259.619
	=	11.86 %

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 Isotope & Radiation Operating Income Related Terms

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China Isotope & Radiation (HKSE:01763) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » China Isotope & Radiation Corp (HKSE:01763) » Definitions » Operating Income

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Traded in Other Exchanges

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Address

No. 66 Changwa Middle Street, Haidian District, Beijing, CHN, 100089

Website

https://www.china-isotope.com

China Isotope & Radiation Corp is a Chinese company. It has five operating segments: Pharmaceuticals; Radioactive source products; Irradiation; Radiation therapy equipment and related services and Other businesses. Its Pharmaceutical segment is the key revenue driver, which manufactures and sells imaging diagnostic and therapeutic radiopharmaceuticals imaging, UBT diagnostic kits, and test analyzers, and other products. Its radioactive source products segment involves the sale of medical and industrial radioactive source products and technical services. The Group's operations are carried out and majority of the Group's customers are located in the PRC.

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