Impax Asset Management Group (LSE:IPX) Operating Income : £50.1 Mil (TTM As of Sep. 2024)

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What is Impax Asset Management Group Operating Income?

Impax Asset Management Group's Operating Income for the six months ended in Sep. 2024 was £25.9 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2024 was £50.1 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Impax Asset Management Group's Operating Income for the six months ended in Sep. 2024 was £25.9 Mil. Impax Asset Management Group's Revenue for the six months ended in Sep. 2024 was £84.0 Mil. Therefore, Impax Asset Management Group's Operating Margin % for the quarter that ended in Sep. 2024 was 30.90%.

Good Sign:

Impax Asset Management Group PLC operating margin is expanding. Margin expansion is usually a good sign.

Impax Asset Management Group's 5-Year average Growth Rate for Operating Margin % was 9.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Impax Asset Management Group's annualized ROC % for the quarter that ended in Sep. 2024 was 65.35%. Impax Asset Management Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2024 was 397.58%.

Impax Asset Management Group Operating Income Historical Data

The historical data trend for Impax Asset Management Group'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.

Impax Asset Management Group Operating Income Chart

Impax Asset Management Group Annual Data

Trend

Sep15

Sep16

Sep17

Sep18

Sep19

Sep20

Sep21

Sep22

Sep23

Sep24

Operating Income

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17.58

47.60

65.36

54.25

50.07

Impax Asset Management Group Semi-Annual Data
	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24
Operating Income	Get a 7-Day Free Trial															33.40	24.82	29.43	24.12	25.95

Impax Asset Management Group 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. 2024 adds up the semi-annually data reported by the company within the most recent 12 months, which was £50.1 Mil.

Impax Asset Management Group (LSE:IPX) Operating Income Explanation

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

Impax Asset Management Group's annualized ROC % for the quarter that ended in Sep. 2024 is calculated as:

	ROC % (Q: Sep. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2024 )	+	Invested Capital (Q: Sep. 2024 ))	/ count )
=	51.896 * ( 1 - 25.27% )	/	( (45.653	+	73.029)	/ 2 )
=	38.7818808	/	59.341
=	65.35 %

where

	Invested Capital		(Q: Mar. 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	))
=	157.686	-	31.667	-	( 80.366	-	max(0, 33.624	-	120.722	+	80.366	))
=	45.653

	Invested Capital		(Q: Sep. 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	))
=	182.382	-	7.743	-	( 109.09	-	max(0, 45.558	-	147.168	+	109.09	))
=	73.029

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

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

Impax Asset Management Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2024		Q: Sep. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	49.232	/	( ( (8.198 + max(8.689, 0))	+	(7.879 + max(-34.545, 0)) )	/	2 )
=	49.232	/	( ( 16.887	+	7.879 )	/	2 )
=	49.232	/	12.383
=	397.58 %

where Working Capital is:

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(39.229	+	0	+	1.127)	-	(31.667	+	0	+	0)
=	8.689

	Working Capital		(Q: Sep. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(7.721	+	0	+	1.208)	-	(7.743	+	0	+	35.731)
=	-34.545

When net working capital is negative, 0 is used.

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

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

Impax Asset Management Group's Operating Margin % for the quarter that ended in Sep. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Sep. 2024 )	/	Revenue (Q: Sep. 2024 )
	=	25.948	/	83.963
	=	30.90 %

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.

Impax Asset Management Group Operating Income Related Terms

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Impax Asset Management Group Business Description

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IPXAF:USA LW4:Germany

Address

30 Panton Street, 7th Floor, London, GBR, SW1Y 4AJ

Website

https://www.impaxam.com

Impax Asset Management Group PLC is an investment firm. It operates in both listed and private markets strategies, investing in the opportunities arising from the transition to a more sustainable economy. The Group is managed on an integrated basis and there is one reportable segment The company offers listed and private equity strategies to institutional clients, with assets under management and advice. Geographically, it derives a majority of revenue from North America and also has a presence in UK; France; Luxembourg; Netherlands; Ireland; Australia and other regions.