Mertiva AB (LTS:0GSH) Operating Income : kr18.60 Mil (TTM As of Jun. 2020)

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What is Mertiva AB Operating Income?

Mertiva AB's Operating Income for the six months ended in Jun. 2020 was kr18.60 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2020 was kr18.60 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Mertiva AB's Operating Income for the six months ended in Jun. 2020 was kr18.60 Mil. Mertiva AB's Revenue for the six months ended in Jun. 2020 was kr23.04 Mil. Therefore, Mertiva AB's Operating Margin % for the quarter that ended in Jun. 2020 was 80.72%.

Mertiva AB'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. Mertiva AB's annualized ROC % for the quarter that ended in Jun. 2020 was 4.20%. Mertiva AB's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2020 was 7,314.85%.

Mertiva AB Operating Income Historical Data

The historical data trend for Mertiva AB'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.

Mertiva AB Operating Income Chart

Mertiva AB Annual Data

Trend

Aug09

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Dec19

Operating Income

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-0.15

699.60

33.41

Mertiva AB Semi-Annual Data
	Feb10	Aug10	Feb11	Aug11	Feb12	Aug12	Feb13	Aug13	Feb14	Aug14	Feb15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20
Operating Income	Get a 7-Day Free Trial															28.34	5.07	10.70	-	18.60

Mertiva AB 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 Jun. 2020 adds up the semi-annually data reported by the company within the most recent 12 months, which was kr18.60 Mil.

Mertiva AB (LTS:0GSH) Operating Income Explanation

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

Mertiva AB's annualized ROC % for the quarter that ended in Jun. 2020 is calculated as:

	ROC % (Q: Jun. 2020 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2019 )	+	Invested Capital (Q: Jun. 2020 ))	/ count )
=	37.196 * ( 1 - 0% )	/	( (896.26	+	874.22)	/ 2 )
=	37.196	/	885.24
=	4.20 %

where

	Invested Capital		(Q: Dec. 2019 )
=	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	))
=	912.586	-	0	-	( 16.326	-	max(0, 0	-	70.918	+	16.326	))
=	896.26

	Invested Capital		(Q: Jun. 2020 )
=	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	))
=	943.726	-	0	-	( 81.105	-	max(0, 12.731	-	82.237	+	81.105	))
=	874.22

Note: The Operating Income data used here is two times the semi-annual (Jun. 2020) data.

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

Mertiva AB's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2020 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2020 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2019		Q: Jun. 2020
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	37.196	/	( ( (0 + max(0, 0))	+	(0 + max(1.017, 0)) )	/	2 )
=	37.196	/	( ( 0	+	1.017 )	/	2 )
=	37.196	/	0.5085
=	7,314.85 %

where Working Capital is:

	Working Capital		(Q: Dec. 2019 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0)	-	(0	+	0	+	0)
=	0

	Working Capital		(Q: Jun. 2020 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	1.132)	-	(0	+	0	+	0.115)
=	1.017

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2020) EBIT data.

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

Mertiva AB's Operating Margin % for the quarter that ended in Jun. 2020 is calculated as:

Operating Margin %	=	Operating Income (Q: Jun. 2020 )	/	Revenue (Q: Jun. 2020 )
	=	18.598	/	23.039
	=	80.72 %

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.

Mertiva AB Operating Income Related Terms

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Mertiva AB (LTS:0GSH) Business Description

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Address

EdsviksvÃ¤gen 89, Danderyd, Stockholm, SWE, 182 35

Website

http://www.mertiva.se

Mertiva AB is a Swedish investment company. The company focuses on investments it estimates that the relationship between expected return and risk is attractive.

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