Noble Investments (UK) (LSE:NBL) Operating Income : £2.16 Mil (TTM As of Feb. 2013)

View and export this data going back to . Start your Free Trial

What is Noble Investments (UK) Operating Income?

Noble Investments (UK)'s Operating Income for the six months ended in Feb. 2013 was £0.89 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2013 was £2.16 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Noble Investments (UK)'s Operating Income for the six months ended in Feb. 2013 was £0.89 Mil. Noble Investments (UK)'s Revenue for the six months ended in Feb. 2013 was £8.08 Mil. Therefore, Noble Investments (UK)'s Operating Margin % for the quarter that ended in Feb. 2013 was 11.04%.

Noble Investments (UK)'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. Noble Investments (UK)'s annualized ROC % for the quarter that ended in Feb. 2013 was 5.90%. Noble Investments (UK)'s annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2013 was 16.21%.

Noble Investments (UK) Operating Income Historical Data

The historical data trend for Noble Investments (UK)'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.

Noble Investments (UK) Operating Income Chart

Noble Investments (UK) Annual Data

Trend

Aug03

Aug04

Aug05

Aug06

Aug07

Aug08

Aug09

Aug10

Aug11

Aug12

Operating Income

Get a 7-Day Free Trial

1.68

1.95

2.17

2.99

3.68

Noble Investments (UK) Semi-Annual Data
	Aug03	Feb04	Aug04	Feb05	Aug05	Feb06	Aug06	Feb07	Aug07	Feb08	Aug08	Feb09	Aug09	Feb10	Aug10	Feb11	Aug11	Feb12	Aug12	Feb13
Operating Income	Get a 7-Day Free Trial															1.52	1.48	2.42	1.27	0.89

Noble Investments (UK) 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. 2013 adds up the semi-annually data reported by the company within the most recent 12 months, which was £2.16 Mil.

Noble Investments (UK) (LSE:NBL) Operating Income Explanation

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

Noble Investments (UK)'s annualized ROC % for the quarter that ended in Feb. 2013 is calculated as:

	ROC % (Q: Feb. 2013 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Aug. 2012 )	+	Invested Capital (Q: Feb. 2013 ))	/ count )
=	1.784 * ( 1 - 40.28% )	/	( (15.899	+	20.207)	/ 2 )
=	1.0654048	/	18.053
=	5.90 %

where

	Invested Capital		(Q: Aug. 2012 )
=	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	))
=	21.321	-	3.176	-	( 2.246	-	max(0, 3.484	-	17.026	+	2.246	))
=	15.899

	Invested Capital		(Q: Feb. 2013 )
=	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	))
=	32.554	-	8.176	-	( 4.171	-	max(0, 9.747	-	20.336	+	4.171	))
=	20.207

Note: The Operating Income data used here is two times the semi-annual (Feb. 2013) data.

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

Noble Investments (UK)'s annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2013 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Feb. 2013 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Aug. 2012		Q: Feb. 2013
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1.784	/	( ( (1.894 + max(11.296, 0))	+	(2.223 + max(6.596, 0)) )	/	2 )
=	1.784	/	( ( 13.19	+	8.819 )	/	2 )
=	1.784	/	11.0045
=	16.21 %

where Working Capital is:

	Working Capital		(Q: Aug. 2012 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3.095	+	9.645	+	2.04)	-	(3.176	+	0	+	0.308)
=	11.296

	Working Capital		(Q: Feb. 2013 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	10.243	+	5.922)	-	(8.176	+	0	+	1.393)
=	6.596

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Feb. 2013) EBIT data.

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

Noble Investments (UK)'s Operating Margin % for the quarter that ended in Feb. 2013 is calculated as:

Operating Margin %	=	Operating Income (Q: Feb. 2013 )	/	Revenue (Q: Feb. 2013 )
	=	0.892	/	8.081
	=	11.04 %

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.

Noble Investments (UK) Operating Income Related Terms

Thank you for viewing the detailed overview of Noble Investments (UK)'s Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

Noble Investments (UK) (LSE:NBL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » Noble Investments (UK) PLC (LSE:NBL) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.nobleinvestmentsplc.com

Noble Investments (UK) PLC is engaged in collectibles retail trading and auctions, including rare coins, stamps, tokens, medals and banknotes. Its two segments are Retail trading and related; and Auctions, commissions and fees. Its provides personalized consultancy services to collectors and dealers in English, Ancient and Foreign coins, Commemorative medals and World tokens, Numismatic and Philatelic Books, Banknotes and Paper Ephemera, Military orders and decorations, and World stamps. It operates under Baldwins's and Apex brands. The group has operations in United Kingdom, North America, Europe, and in other part of the world.