Trustco Group Holdings (JSE:TTO) Operating Income: R210.92 Mil (TTM As of Feb. 2024)

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JSE:TTO Trustco Group Holdings Ltd JSE:TTO
11 GF Score
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What is Trustco Group Holdings Operating Income?

Trustco Group Holdings JSE:TTO 11 Operating Income is R210.92 Mil as of Feb. 2024. GuruFocus rates JSE:TTO with a GF Score™ of 11/100.

Trustco Group Holdings's Operating Income for the six months ended in Feb. 2024 was R69.65 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2024 was R210.92 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 R69.65 Mil. Trustco Group Holdings's Revenue for the six months ended in Feb. 2024 was R16.68 Mil. Therefore, Trustco Group Holdings's Operating Margin % for the quarter that ended in Feb. 2024 was 417.63%.

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 4.11%. Trustco Group Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2024 was 5,360.16%.


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 )
=139.306 * ( 1 - 0% )/( (3692.605 + 3090.25)/ 2 )
=139.306/3391.4275
=4.11 %

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))
=3755.39 - 1740.35 - ( 10.791 - max(0, 2400.585 - 723.02+10.791))
=3692.605

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))
=3819.157 - 1822.757 - ( 16.678 - max(0, 1822.757 - 728.907+16.678))
=3090.25

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 )
=394.374/( ( (8.829 + max(-1715.825, 0)) + (5.886 + max(-1794.307, 0)) )/ 2 )
=394.374/( ( 8.829 + 5.886 )/ 2 )
=394.374/7.3575
=5,360.16 %

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)
=(23.545 + 0 + 0.98099999999988) - (1740.35 + 0 + 0.0010000000002037)
=-1715.825

Working Capital(Q: Feb. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(27.469 + 0 + 0.98099999999999) - (1822.757 + 0 + 0)
=-1794.307

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 )
=69.653/16.678
=417.63 %

* 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.


Trustco Group Holdings Operating Income Related Terms


Trustco Group Holdings Operating Income Historical Data

* Premium members only.

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.

Trustco Group Holdings Operating Income Chart

Trustco Group Holdings Annual Data
Trend Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Aug22 Aug23
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only -53.09 157.62 -450.97 -84.37 -30.41

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 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 -27.47 -56.90 -171.68 141.27 69.65
JSE:TTO
11GF Score
Trustco Group Holdings Ltd JSE:TTO
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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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 R210.92 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 R210.92 Mil mean?
Trustco Group Holdings (JSE:TTO) has a Operating Income of R210.92 Mil as of Feb. 2024. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Trustco Group Holdings and its competitors.
Is Trustco Group Holdings' Operating Income too high?
Trustco Group Holdings' current Operating Income is R210.92 Mil. Overall, Trustco Group Holdings has a GF Score™ of 11/100, reflecting its overall financial health beyond just this single metric.
How does Trustco Group Holdings' Operating Income compare to BLK and BX?
Trustco Group Holdings' Operating Income of R210.92 Mil can be compared against companies in the Asset Management 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 an Asset Management company?
A good Operating Income depends on the Asset Management 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 Trustco Group Holdings and its competitors. Trustco Group Holdings's current Operating Income is R210.92 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Trustco Group Holdings stock overvalued right now?
Trustco Group Holdings (JSE:TTO) has a current Operating Income of R210.92 Mil. The current Operating Income is R210.92 Mil. Trustco Group Holdings' overall GF Score™ is 11/100. 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 Trustco Group Holdings (JSE:TTO), the current Operating Income is R210.92 Mil as of Feb. 2024. 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.

Trustco Group Holdings Business Description

Address 2 Keller Street, Eros, P.O. Box 11363, Windhoek, NAM
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.
11GF Score

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Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

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