IMC (International Market Centers) Operating Income: $ Mil (TTM As of Dec. 2014)


What is International Market Centers Operating Income?

International Market Centers IMC Operating Income is $ Mil as of Dec. 2014.

International Market Centers's Operating Income for the six months ended in Dec. 2014 was $21.12 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. International Market Centers's Operating Income for the six months ended in Dec. 2014 was $21.12 Mil. International Market Centers's Revenue for the six months ended in Dec. 2014 was $162.80 Mil. Therefore, International Market Centers's Operating Margin % for the quarter that ended in Dec. 2014 was 12.97%.

International Market Centers'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. International Market Centers's annualized ROC % for the quarter that ended in Dec. 2014 was 2.76%. International Market Centers's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2014 was 1.32%.

International Market Centers  (NYSE:IMC) Operating Income Explanation

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

International Market Centers's annualized ROC % for the quarter that ended in Dec. 2014 is calculated as:

ROC % (Q: Dec. 2014 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2013 ) + Invested Capital (Q: Dec. 2014 ))/ count )
=21.12 * ( 1 - 0% )/( (789.53 + 740.33)/ 2 )
=21.12/764.93
=2.76 %

where

Invested Capital(Q: Dec. 2013 )
=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))
=839.341 - 26.876 - ( 22.935 - max(0, 30.373 - 97.623+22.935))
=789.53

Invested Capital(Q: Dec. 2014 )
=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))
=788.612 - 24.105 - ( 24.177 - max(0, 27.349 - 68.745+24.177))
=740.33

Note: The Operating Income data used here is one times the annual (Dec. 2014) data.

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

International Market Centers's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2014 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2014 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2013  Q: Dec. 2014
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=9.299/( ( (684.583 + max(38.484, 0)) + (673.142 + max(12.491, 0)) )/ 2 )
=9.299/( ( 723.067 + 685.633 )/ 2 )
=9.299/704.35
=1.32 %

where Working Capital is:

Working Capital(Q: Dec. 2013 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(28.484 + 0 + 40.373) - (26.876 + 3.497 + 0)
=38.484

Working Capital(Q: Dec. 2014 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(27.593 + 0 + 12.247) - (24.105 + 3.244 + 0)
=12.491

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (Dec. 2014) EBIT data.

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

International Market Centers's Operating Margin % for the quarter that ended in Dec. 2014 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2014 )/Revenue (Q: Dec. 2014 )
=21.12/162.801
=12.97 %

* 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.

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.

International Market Centers Operating Income Related Terms

International Market Centers Operating Income Historical Data

* Premium members only.

The historical data trend for International Market Centers'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.

International Market Centers Operating Income Chart

International Market Centers Annual Data
Trend Dec12 Dec13 Dec14
Operating Income
-30.61 3.08 21.12

International Market Centers Semi-Annual Data
Dec12 Dec13 Dec14
Operating Income -30.61 3.08 21.12

International Market Centers 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. Operating Income for the trailing twelve months (TTM) ended in Dec. 2014 was $ Mil.

* 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.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of $ Mil mean?
International Market Centers (IMC) has a Operating Income of $ Mil as of Dec. 2014. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on International Market Centers and its competitors.
Is International Market Centers' Operating Income too high?
International Market Centers' current Operating Income is $ Mil.
How does International Market Centers' Operating Income compare to HMG and AIII?
International Market Centers' Operating Income of $ Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a REITs company?
A good Operating Income depends on the REITs industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on International Market Centers and its competitors. International Market Centers's current Operating Income is $ Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is International Market Centers stock overvalued right now?
International Market Centers (IMC) has a current Operating Income of $ Mil. The current Operating Income is $ Mil. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For International Market Centers (IMC), the current Operating Income is $ Mil as of Dec. 2014. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

International Market Centers Business Description

Industry Real EstateREITs
International Market Centers Inc was incorporated in Maryland on June 27, 2014. The Company is structured as an internally-managed REIT. The Company is the owner and operator of permanent business-to-business showroom space in North America for the home furniture industry and owners and operators of permanent business-to-business showroom space for the home décor and gift industries. The Company owns approximately 11.9 million gross square feet of showroom space across 13 buildings in High Point, North Carolina and three buildings and three exhibition pavilions in Las Vegas, Nevada. The Company leases its space on a long-term basis to manufacturers and suppliers of home furniture, home décor and gift products that participate in the Company's Markets. The Company faces competition from other Markets that serve manufacturers and suppliers and buyers of home furniture, home décor and gift products.