Actual Experience (LSE:ACT) Operating Income : £-5.18 Mil (TTM As of Mar. 2023)

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What is Actual Experience Operating Income?

Actual Experience's Operating Income for the six months ended in Mar. 2023 was £-2.54 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2023 was £-5.18 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Actual Experience's Operating Income for the six months ended in Mar. 2023 was £-2.54 Mil. Actual Experience's Revenue for the six months ended in Mar. 2023 was £0.23 Mil. Therefore, Actual Experience's Operating Margin % for the quarter that ended in Mar. 2023 was -1,127.11%.

Good Sign:

Actual Experience PLC operating margin is expanding. Margin expansion is usually a good sign.

Actual Experience's 5-Year average Growth Rate for Operating Margin % was 26.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Actual Experience's annualized ROC % for the quarter that ended in Mar. 2023 was -259.38%. Actual Experience's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2023 was -931.97%.

Actual Experience Operating Income Historical Data

The historical data trend for Actual Experience'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.

Actual Experience Operating Income Chart

Actual Experience Annual Data

Trend

Jul12

Sep14

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Operating Income

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-7.43

-6.34

-4.55

-5.07

-5.49

Actual Experience Semi-Annual Data
	Mar13	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23
Operating Income	Get a 7-Day Free Trial															-2.19	-2.88	-2.84	-2.65	-2.54

Actual Experience 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 Mar. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was £-5.18 Mil.

Actual Experience (LSE:ACT) Operating Income Explanation

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

Actual Experience's annualized ROC % for the quarter that ended in Mar. 2023 is calculated as:

	ROC % (Q: Mar. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2022 )	+	Invested Capital (Q: Mar. 2023 ))	/ count )
=	-5.072 * ( 1 - 4.88% )	/	( (2.062	+	1.658)	/ 2 )
=	-4.8244864	/	1.86
=	-259.38 %

where

	Invested Capital		(Q: Sep. 2022 )
=	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	))
=	4.936	-	0.463	-	( 2.871	-	max(0, 0.962	-	3.373	+	2.871	))
=	2.062

	Invested Capital		(Q: Mar. 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	))
=	5.088	-	0.54	-	( 3.097	-	max(0, 0.65	-	3.54	+	3.097	))
=	1.658

Note: The Operating Income data used here is two times the semi-annual (Mar. 2023) data.

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

Actual Experience's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2022		Q: Mar. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-5.014	/	( ( (0.594 + max(-0.6, 0))	+	(0.482 + max(-0.096, 0)) )	/	2 )
=	-5.014	/	( ( 0.594	+	0.482 )	/	2 )
=	-5.014	/	0.538
=	-931.97 %

where Working Capital is:

	Working Capital		(Q: Sep. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.023	+	0	+	0.22)	-	(0.463	+	0	+	0.38)
=	-0.6

	Working Capital		(Q: Mar. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.328	+	0	+	0.115)	-	(0.54	+	0	+	-0.001)
=	-0.096

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2023) EBIT data.

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

Actual Experience's Operating Margin % for the quarter that ended in Mar. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2023 )	/	Revenue (Q: Mar. 2023 )
	=	-2.536	/	0.225
	=	-1,127.11 %

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.

Actual Experience Operating Income Related Terms

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Actual Experience (LSE:ACT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Actual Experience PLC (LSE:ACT) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

Quay House, The Ambury, Bath, Somerset, GBR, BA1 1UA

Website

https://www.actual-experience.com

Actual Experience PLC operates in the United Kingdom technology sector. Its analytics services aid companies that provide digital services. The company's main product is a cloud analytics platform that transforms the measurements of the digital products and services into a real-time digital voice of the customer quality scores. It fragments its services based on its end-user into the Actual Work, Actual Home, and Actual Work Web trademark products. Actual Work analyses infrastructure and application elements in each delivery path as a supplier in a digital supply chain. The company operates in the United Kingdom, and the United States of America of which it generates maximum revenue from the United States of America.