Mechel PAO (MIC:MTLR) Operating Income: ₽33,059 Mil (TTM As of Jun. 2023)

What is Mechel PAO Operating Income?

Mechel PAO MIC:MTLR +0.67% 17 Operating Income is ₽33,059 Mil as of Jun. 2023. GuruFocus rates MIC:MTLR with a GF Score™ of 17/100.

Mechel PAO's Operating Income for the six months ended in Jun. 2023 was ₽33,059 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2023 was ₽33,059 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Mechel PAO's Operating Income for the six months ended in Jun. 2023 was ₽33,059 Mil. Mechel PAO's Revenue for the six months ended in Jun. 2023 was ₽194,686 Mil. Therefore, Mechel PAO's Operating Margin % for the quarter that ended in Jun. 2023 was 16.98%.

Mechel PAO'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. Mechel PAO's annualized ROC % for the quarter that ended in Jun. 2023 was 7.19%. Mechel PAO's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2023 was 5.07%.

Mechel PAO (MIC:MTLR) Operating Income Explanation

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

Mechel PAO's annualized ROC % for the quarter that ended in Jun. 2023 is calculated as:

	ROC % (Q: Jun. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2022 )	+	Invested Capital (Q: Jun. 2023 ))	/ count )
=	66118 * ( 1 - 52.88% )	/	( (0	+	433146)	/ 1 )
=	31154.8016	/	433146
=	7.19 %

where

	Invested Capital		(Q: Jun. 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	))
=	0	-	0	-	( 0	-	max(0, 0	-	0	+	0	))
=	0

	Invested Capital		(Q: Jun. 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	))
=	270272	-	41600	-	( 21203	-	max(0, 327311	-	122837	+	21203	))
=	433146

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

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

Mechel PAO's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2022		Q: Jun. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	8842	/	( ( (0 + max(0, 0))	+	(130930 + max(43593, 0)) )	/	1 )
=	8842	/	( ( 0	+	174523 )	/	1 )
=	8842	/	174523
=	5.07 %

where Working Capital is:

	Working Capital		(Q: Jun. 2022 )
=	(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. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(25416	+	65707	+	10200)	-	(41600	+	11499	+	4631)
=	43593

When net working capital is negative, 0 is used.

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

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

Mechel PAO's Operating Margin % for the quarter that ended in Jun. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Jun. 2023 )	/	Revenue (Q: Jun. 2023 )
	=	33059	/	194686
	=	16.98 %

* 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.

Mechel PAO Operating Income Related Terms

Mechel PAO Operating Income Historical Data

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The historical data trend for Mechel PAO's Operating Income can be seen below:

Mechel PAO Operating Income Chart

Mechel PAO Annual Data

Trend

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Operating Income

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63,757.00

58,851.00

37,044.00

24,353.00

104,911.00

Mechel PAO Semi-Annual Data
	Jun13	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Jun23
Operating Income	Get a 7-Day Free Trial															15,185.00	43,870.00	61,041.00	70,419.00	33,059.00

17GF Score

Mechel PAO MIC:MTLR

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

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Mechel PAO 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. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was ₽33,059 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of ₽33,059 Mil mean?

Mechel PAO (MIC:MTLR) has a Operating Income of ₽33,059 Mil as of Jun. 2023. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Mechel PAO and its competitors.

Is Mechel PAO's Operating Income too high?

Mechel PAO's current Operating Income is ₽33,059 Mil. Overall, Mechel PAO has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.

How does Mechel PAO's Operating Income compare to NUE and STLD?

Mechel PAO's Operating Income of ₽33,059 Mil can be compared against companies in the Steel 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 a Steel company?

A good Operating Income depends on the Steel 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 Mechel PAO and its competitors. Mechel PAO's current Operating Income is ₽33,059 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Mechel PAO stock overvalued right now?

Mechel PAO (MIC:MTLR) has a current Operating Income of ₽33,059 Mil. The current Operating Income is ₽33,059 Mil. Mechel PAO's overall GF Score™ is 17/100. 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 Mechel PAO (MIC:MTLR), the current Operating Income is ₽33,059 Mil as of Jun. 2023. 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.

Mechel PAO Business Description

Industry Basic Materials Steel

Comparable Companies MIC:AMEZ MIC:CHMK MIC:URKZ MIC:KOGK MIC:IGST NUE BOM:500228 NSE:TATASTEEL SHSE:600019 XKRX:005490 STLD XAMS:MT TSE:5401 MIC:CHMF RS BOM:532286 TPE:2002 SZSE:000708 SHSE:600010 BOM:526371

Address Krasnoarmeyskaya Street 1, Moscow, RUS, 125167

Website http://www.mechel.ru

Mechel PAO is a vertically integrated group operating into three industrial segments Mining, Steel and Power. The mining segment produces metallurgical coal (coking coal, PCI and anthracite), steam coal, iron ore and iron ore concentrate, coke and chemical products. The segment consists of its coal, iron ore and coke production facilities in Russia. The steel segment produces and sells semi-finished steel products, long products of a wide range of steel grades, carbon and stainless flat steel products and high value-added metal products, including wire products, stampings and forgings, structural shapes, beams and rails. The power segment sells electricity and capacity to the wholesale market. The majority of the revenue is derived from the Steel segment.

17GF Score

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₽36.18

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