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Joy Global (Joy Global) Operating Income : $2 Mil (TTM As of Jan. 2017)


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What is Joy Global Operating Income?

Joy Global's Operating Income for the three months ended in Jan. 2017 was $-2 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jan. 2017 was $2 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Joy Global's Operating Income for the three months ended in Jan. 2017 was $-2 Mil. Joy Global's Revenue for the three months ended in Jan. 2017 was $498 Mil. Therefore, Joy Global's Operating Margin % for the quarter that ended in Jan. 2017 was -0.35%.

Joy Global'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. Joy Global's annualized ROC % for the quarter that ended in Jan. 2017 was -0.01%. Joy Global's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jan. 2017 was -0.04%.


Joy Global Operating Income Historical Data

The historical data trend for Joy Global'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.

Joy Global Operating Income Chart

Joy Global Annual Data
Trend Oct07 Oct08 Oct09 Oct10 Oct11 Oct12 Oct13 Oct14 Oct15 Oct16
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,172.56 835.43 527.53 -1,109.39 -41.41

Joy Global Quarterly Data
Apr12 Jul12 Oct12 Jan13 Apr13 Jul13 Oct13 Jan14 Apr14 Jul14 Oct14 Jan15 Apr15 Jul15 Oct15 Jan16 Apr16 Jul16 Oct16 Jan17
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -45.09 -4.33 -5.17 13.17 -1.75

Joy Global 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 Jan. 2017 adds up the quarterly data reported by the company within the most recent 12 months, which was $2 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.


Joy Global  (NYSE:JOY) Operating Income Explanation

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

Joy Global's annualized ROC % for the quarter that ended in Jan. 2017 is calculated as:

ROC % (Q: Jan. 2017 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Oct. 2016 ) + Invested Capital (Q: Jan. 2017 ))/ count )
=-7 * ( 1 - 97.83% )/( (2592.333 + 2623.129)/ 2 )
=-0.1519/2607.731
=-0.01 %

where

Invested Capital(Q: Oct. 2016 )
=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))
=3426.431 - 557.389 - ( 276.709 - max(0, 772.564 - 1893.068+276.709))
=2592.333

Invested Capital(Q: Jan. 2017 )
=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))
=3445.504 - 500.466 - ( 321.909 - max(0, 785.922 - 1931.59+321.909))
=2623.129

Note: The Operating Income data used here is four times the quarterly (Jan. 2017) data.

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

Joy Global's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jan. 2017 is calculated as:

ROC (Joel Greenblatt) %(Q: Jan. 2017 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Oct. 2016  Q: Jan. 2017
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-0.648/( ( (656.245 + max(885.849, 0)) + (642.882 + max(866.765, 0)) )/ 2 )
=-0.648/( ( 1542.094 + 1509.647 )/ 2 )
=-0.648/1525.8705
=-0.04 %

where Working Capital is:

Working Capital(Q: Oct. 2016 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(683.958 + 814.821 + 117.58) - (557.389 + 173.121 + 0)
=885.849

Working Capital(Q: Jan. 2017 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(639.881 + 836.465 + 133.335) - (500.466 + 242.45 + 0)
=866.765

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jan. 2017) EBIT data.

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

Joy Global's Operating Margin % for the quarter that ended in Jan. 2017 is calculated as:

Operating Margin %=Operating Income (Q: Jan. 2017 )/Revenue (Q: Jan. 2017 )
=-1.75/497.769
=-0.35 %

* 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.


Joy Global Operating Income Related Terms

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


Joy Global (Joy Global) Business Description

Traded in Other Exchanges
N/A
Address
Milwaukee-based Joy Global manufactures electric shovels, excavators, drills, and other mining equipment for use in surface (through its P&H brand) and underground mines (through the Joy name). Joy Global generated 59% of 2015 sales from coal customers and 32% of sales in the United States. The company was formed in 2001 after the bankruptcy and restructuring of Harnischfeger Industries.
Executives
Sean D Major officer: EVP, GC and Secretary 100 E. WISCONSIN AVENUE, SUITE 2780, MILWAUKEE WI 53202
Doheny Edward L Ii director, officer: President and CEO 100 E. WISCONSIN AVENUE, SUITE 2780, MILWAUKEE WI 53202
James M Sullivan officer: EVP & CFO 100 E. WISCONSIN AVENUE, SUITE 2780, MILWAUKEE WI 53202
Steven L Gerard director P.O. BOX 554, MILWAUKEE WI 53201-0554
Gale E Klappa director 231 W. MICHIGAN STREET, MILWAUKEE WI 53203
John Nils Hanson director 100 E WISCONSIN AVE, SUITE 2780, MILWAUKEE WI 53202
Mark Joseph Gliebe director 200 STATE STREET, BELOIT WI 53511
Randal W Baker officer: EVP and COO 100 E WISCONSIN AVENUE, SUITE 2780, MILWAUKEE WI 53202
Michael W Sutherlin director, officer: President and CEO 7374 SE 71ST STREET, MERCER ISLAND WA 98040
Eric A. Nielsen officer: EVP 100 E. WISCONSIN AVENUE, SUITE 2780, MILWAUKEE WI 53202
Ricky T Dillon officer: VP and Controller ONE SOUTH WACKER DRIVE, SUITE 1000, CHICAGO IL 60606
Ken C Johnsen director P.O. BOX 554, MILWAUKEE WI 53201-0554
Woodward James H Jr officer: Executive Vice President, CFO 7140 OFFICE CIRCLE, EVANSVILLE IN 47716
Donald C Roof officer: Executive Vice President, CFO P O BOX 554, MILWAUKEE WI 53201

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