Trustco Group Holdings (JSE:TTO) Operating Income : R216.57 Mil (TTM As of Feb. 2024)

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What is Trustco Group Holdings Operating Income?

Trustco Group Holdings's Operating Income for the six months ended in Feb. 2024 was R71.52 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2024 was R216.57 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Trustco Group Holdings's Operating Income for the six months ended in Feb. 2024 was R71.52 Mil. Trustco Group Holdings's Revenue for the six months ended in Feb. 2024 was R17.12 Mil. Therefore, Trustco Group Holdings's Operating Margin % for the quarter that ended in Feb. 2024 was 417.64%.

Trustco Group Holdings'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. Trustco Group Holdings's annualized ROC % for the quarter that ended in Feb. 2024 was 4.47%. Trustco Group Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2024 was 5,359.74%.

Trustco Group Holdings Operating Income Historical Data

The historical data trend for Trustco Group Holdings'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.

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Trustco Group Holdings Operating Income Chart

Trustco Group Holdings Annual Data

Trend

Mar13

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Aug22

Aug23

Operating Income

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-54.51

161.84

-463.04

-86.63

-31.23

Trustco Group Holdings Semi-Annual Data
	Sep13	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Mar21	Feb22	Aug22	Feb23	Aug23	Feb24
Operating Income	Get a 7-Day Free Trial															-28.20	-58.42	-176.28	145.05	71.52

Trustco Group Holdings 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 Feb. 2024 adds up the semi-annually data reported by the company within the most recent 12 months, which was R216.57 Mil.

Trustco Group Holdings (JSE:TTO) Operating Income Explanation

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

Trustco Group Holdings's annualized ROC % for the quarter that ended in Feb. 2024 is calculated as:

	ROC % (Q: Feb. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Aug. 2023 )	+	Invested Capital (Q: Feb. 2024 ))	/ count )
=	143.034 * ( 1 - -8.91% )	/	( (3791.421	+	3172.947)	/ 2 )
=	155.7783294	/	3482.184
=	4.47 %

where

	Invested Capital		(Q: Aug. 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	))
=	3855.887	-	1786.923	-	( 11.08	-	max(0, 2464.826	-	742.369	+	11.08	))
=	3791.421

	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	))
=	3921.36	-	1871.535	-	( 17.124	-	max(0, 1871.535	-	748.413	+	17.124	))
=	3172.947

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

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

Trustco Group Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Feb. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Aug. 2023		Q: Feb. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	404.928	/	( ( (9.066 + max(-1761.741, 0))	+	(6.044 + max(-1842.324, 0)) )	/	2 )
=	404.928	/	( ( 9.066	+	6.044 )	/	2 )
=	404.928	/	7.555
=	5,359.74 %

where Working Capital is:

	Working Capital		(Q: Aug. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(24.175	+	0	+	1.0069999999999)	-	(1786.923	+	0	+	0)
=	-1761.741

	Working Capital		(Q: Feb. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(28.204	+	0	+	1.0069999999999)	-	(1871.535	+	0	+	0)
=	-1842.324

When net working capital is negative, 0 is used.

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

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

Trustco Group Holdings's Operating Margin % for the quarter that ended in Feb. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Feb. 2024 )	/	Revenue (Q: Feb. 2024 )
	=	71.517	/	17.124
	=	417.64 %

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.

Trustco Group Holdings Operating Income Related Terms

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Trustco Group Holdings Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Trustco Group Holdings Ltd (JSE:TTO) » Definitions » Operating Income

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Address

2 Keller Street, Eros, P.O. Box 11363, Windhoek, NAM

Website

https://www.tgh.na

Trustco Group Holdings Ltd engages in the provision of financial services. The company's operating segment includes Financial Services and Resources. The Financial Services portfolio earns income from insurance premiums, property sales, rental income, investment property activities, banking and finance activities, interest, fees, and commissions from customers, and tuition income. The Resources portfolio conducts mining operations in Namibia and Sierra Leone. The company earns maximum revenue through Micro-Finance.

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