IPRA.PFD (Intelsat) Operating Income : $160.27 Mil (TTM As of Sep. 2021)

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What is Intelsat Operating Income?

Intelsat's Operating Income for the three months ended in Sep. 2021 was $72.24 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2021 was $160.27 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Intelsat's Operating Income for the three months ended in Sep. 2021 was $72.24 Mil. Intelsat's Revenue for the three months ended in Sep. 2021 was $526.10 Mil. Therefore, Intelsat's Operating Margin % for the quarter that ended in Sep. 2021 was 13.73%.

Warning Sign:

Intelsat SA operating margin has been in a 5-year decline. The average rate of decline per year is -10.3%.

Intelsat's 5-Year average Growth Rate for Operating Margin % was -10.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Intelsat's annualized ROC % for the quarter that ended in Sep. 2021 was 1.63%. Intelsat's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2021 was -1.28%.

Intelsat Operating Income Historical Data

The historical data trend for Intelsat'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.

Intelsat Operating Income Chart

Intelsat Annual Data

Trend

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Operating Income

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917.99

911.08

941.87

770.16

460.94

Intelsat Quarterly Data
	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21
Operating Income	Get a 7-Day Free Trial															137.39	65.23	11.32	11.49	72.24

Intelsat 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. 2021 adds up the quarterly data reported by the company within the most recent 12 months, which was $160.27 Mil.

Intelsat (NYSE:IPRA.PFD) Operating Income Explanation

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

Intelsat's annualized ROC % for the quarter that ended in Sep. 2021 is calculated as:

	ROC % (Q: Sep. 2021 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2021 )	+	Invested Capital (Q: Sep. 2021 ))	/ count )
=	288.956 * ( 1 - -1.83% )	/	( (17870.257	+	18252.573)	/ 2 )
=	294.2438948	/	18061.415
=	1.63 %

where

	Invested Capital		(Q: Jun. 2021 )
=	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	))
=	12910.11	-	324.65	-	( 631.871	-	max(0, 7269.658	-	1984.861	+	631.871	))
=	17870.257

	Invested Capital		(Q: Sep. 2021 )
=	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	))
=	13253.07	-	304.702	-	( 636.51	-	max(0, 7529.268	-	2225.063	+	636.51	))
=	18252.573

Note: The Operating Income data used here is four times the quarterly (Sep. 2021) data.

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

Intelsat's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2021 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2021 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2021		Q: Sep. 2021
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-63.524	/	( ( (4958.927 + max(-46.571, 0))	+	(4981.394 + max(-856.425, 0)) )	/	2 )
=	-63.524	/	( ( 4958.927	+	4981.394 )	/	2 )
=	-63.524	/	4970.1605
=	-1.28 %

where Working Capital is:

	Working Capital		(Q: Jun. 2021 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1022.447	+	140.302	+	150.961)	-	(324.65	+	904.806	+	130.825)
=	-46.571

	Working Capital		(Q: Sep. 2021 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(217.235	+	125.288	+	168.005)	-	(304.702	+	913.453	+	148.798)
=	-856.425

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2021) EBIT data.

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

Intelsat's Operating Margin % for the quarter that ended in Sep. 2021 is calculated as:

Operating Margin %	=	Operating Income (Q: Sep. 2021 )	/	Revenue (Q: Sep. 2021 )
	=	72.239	/	526.095
	=	13.73 %

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.

Intelsat Operating Income Related Terms

Thank you for viewing the detailed overview of Intelsat's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

Intelsat Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Telecommunication Services » Intelsat SA (NYSE:IPRA.PFD) » Definitions » Operating Income

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Traded in Other Exchanges

N/A

Address

4 rue Albert Borschette, Luxembourg, LUX, L-1246

Website

http://www.intelsat.com

Intelsat SA is a Luxembourg-based company which operates satellite services business. It is engaged in providing diversified communications services to the media companies, fixed and wireless telecommunications operators, data networking service providers for enterprise and mobile applications in the air and on the seas, and a multinational corporation. In addition, it provides commercial satellite communication services to the United States government and other select military organizations and their contractors. Intelsat operates through a single segment being Providing satellite services. The company earns the majority of its revenue from North America.

Executives

Jonathan B Cobin	officer: Chief Strategy Officer	1250 N ARLINGTON HEIGHTS RD, STE 500, ITASCA IL 60143
John Wade	officer: President, Commercial Aviation	1250 N ARLINGTON HEIGHTS RD, STE 500, ITASCA IL 60143
Bruno Fromont	officer: SVP, Strategy and Planning	INTELSAT, 7900 TYSONS ONE PLACE, MCLEAN VA 22102
Bc European Capital Viii-36 Sc	10 percent owner	C/O LMBO EUROPE SAS, 54 AVENUE MARCEAU, PARIS I0 75008
Bc European Capital Viii-8	10 percent owner	C/O CIE MANAGEMENT II LIMITED, HERITAGE HALL, LE MARCHANT STREET, ST. PETER PORT, GUERNSEY X0 GY1 4HY
Bc European Capital Viii-7	10 percent owner	C/O CIE MANAGEMENT II LIMITED, HERITAGE HALL, LE MARCHANT STREET, ST. PETER PORT, GUERNSEY X0 GY1 4HY
Bc European Capital Viii-6	10 percent owner	C/O CIE MANAGEMENT II LIMITED, HERITAGE HALL, LE MARCHANT STREET, ST. PETER PORT, GUERNSEY X0 GY1 4HY
Bc European Capital Viii-5	10 percent owner	C/O CIE MANAGEMENT II LIMITED, HERITAGE HALL, LE MARCHANT STREET, ST. PETER PORT, GUERNSEY X0 GY1 4HY
Bc European Capital Viii-4	10 percent owner	C/O CIE MANAGEMENT II LIMITED, HERITAGE HALL, LE MARCHANT STREET, ST. PETER PORT, GUERNSEY X0 GY1 4HY
Bc European Capital Viii-39 Sc	10 percent owner	C/O LMBO EUROPE SAS, 54 AVENUE MARCEAU, PARIS I0 75008
Bc European Capital Viii-38 Sc	10 percent owner	C/O LMBO EUROPE SAS, 54 AVENUE MARCEAU, PARIS I0 75008
Justin Bateman	director	C/O BC PARTNERS, 667 MADISON AVENUE, 19TH FLOOR, NEW YORK NY 10065
Bc European Capital Viii-35 Sc	10 percent owner	C/O LMBO EUROPE SAS, 54 AVENUE MARCEAU, PARIS I0 75008
Bc European Capital Viii-34	10 percent owner	C/O CIE MANAGEMENT II LIMITED, HERITAGE HALL, LE MARCHANT STREET, ST. PETER PORT, GUERNSEY X0 GY1 4HY
Bc European Capital Viii-33	10 percent owner	C/O CIE MANAGEMENT II LIMITED, HERITAGE HALL, LE MARCHANT STREET, ST. PETER PORT, GUERNSEY X0 GY1 4HY