United Power Co (MUS:UECP) Operating Income : ر.ع-0.73 Mil (TTM As of Dec. 2019)

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What is United Power Co Operating Income?

United Power Co's Operating Income for the six months ended in Dec. 2019 was ر.ع-0.73 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2019 was ر.ع-0.73 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. United Power Co's Operating Income for the six months ended in Dec. 2019 was ر.ع-0.73 Mil. United Power Co's Revenue for the six months ended in Dec. 2019 was ر.ع4.24 Mil. Therefore, United Power Co's Operating Margin % for the quarter that ended in Dec. 2019 was -17.26%.

United Power Co'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. United Power Co's annualized ROC % for the quarter that ended in Dec. 2019 was 18.75%. United Power Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2019 was -43.54%.

United Power Co Operating Income Historical Data

The historical data trend for United Power Co'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.

United Power Co Operating Income Chart

United Power Co Annual Data

Trend

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Operating Income

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1.19

-0.43

-1.04

-0.71

-0.73

United Power Co Semi-Annual Data
	Dec08	Dec09	Dec10	Dec11	Dec12	Dec13	Dec14	Dec15	Dec16	Dec17	Dec18	Dec19
Operating Income	Get a 7-Day Free Trial							1.19	-0.43	-1.04	-0.71	-0.73

United Power Co 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. Operating Income for the trailing twelve months (TTM) ended in Dec. 2019 was ر.ع-0.73 Mil.

United Power Co (MUS:UECP) Operating Income Explanation

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

United Power Co's annualized ROC % for the quarter that ended in Dec. 2019 is calculated as:

	ROC % (Q: Dec. 2019 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2018 )	+	Invested Capital (Q: Dec. 2019 ))	/ count )
=	-0.731 * ( 1 - 176.47% )	/	( (5.185	+	0.779)	/ 2 )
=	0.5589957	/	2.982
=	18.75 %

where

	Invested Capital		(Q: Dec. 2018 )
=	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	))
=	9.108	-	0.976	-	( 2.947	-	max(0, 1.443	-	7.748	+	2.947	))
=	5.185

	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	))
=	6.361	-	0.816	-	( 5.024	-	max(0, 1.388	-	6.154	+	5.024	))
=	0.779

Note: The Operating Income data used here is one times the annual (Dec. 2019) data.

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

United Power Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2019 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2019 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2018		Q: Dec. 2019
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-0.731	/	( ( (0 + max(3.358, 0))	+	(0 + max(-0.673, 0)) )	/	2 )
=	-0.731	/	( ( 3.358	+	0 )	/	2 )
=	-0.731	/	1.679
=	-43.54 %

where Working Capital is:

	Working Capital		(Q: Dec. 2018 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4.653	+	0.148	+	8.8817841970013E-16)	-	(0.976	+	0	+	0.467)
=	3.358

	Working Capital		(Q: Dec. 2019 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.678	+	0.037	+	0)	-	(0.816	+	0	+	0.572)
=	-0.673

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (Dec. 2019) EBIT data.

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

United Power Co's Operating Margin % for the quarter that ended in Dec. 2019 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2019 )	/	Revenue (Q: Dec. 2019 )
	=	-0.731	/	4.236
	=	-17.26 %

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.

United Power Co Operating Income Related Terms

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United Power Co (MUS:UECP) Business Description

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GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » United Power Co (MUS:UECP) » Definitions » Operating Income

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Address

Jawharat Al Shatti, P.O. Box 147, Muscat, OMN, 134

Website

http://www.upcmanah.com

United Power Co Formerly United Power builds, owns and operates a power station at Mannah and interconnection and transmission facilities. The Manah Power Station operates on Dispatch Orders from Oman Power and Water Procurement Company (OPWP) and all the net energy from the Manah Power Station is sold to OPWP, which is responsible for all power purchase in Oman.

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