New England Realty Associates LP (New England Realty Associates LP) Operating Income : $19.79 Mil (TTM As of Dec. 2023)

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What is New England Realty Associates LP Operating Income?

New England Realty Associates LP's Operating Income for the three months ended in Dec. 2023 was $5.70 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $19.79 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. New England Realty Associates LP's Operating Income for the three months ended in Dec. 2023 was $5.70 Mil. New England Realty Associates LP's Revenue for the three months ended in Dec. 2023 was $19.73 Mil. Therefore, New England Realty Associates LP's Operating Margin % for the quarter that ended in Dec. 2023 was 28.88%.

New England Realty Associates LP's 5-Year average Growth Rate for Operating Margin % was -0.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. New England Realty Associates LP's annualized ROC % for the quarter that ended in Dec. 2023 was 8.18%. New England Realty Associates LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was %.

New England Realty Associates LP Operating Income Historical Data

The historical data trend for New England Realty Associates LP'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.

New England Realty Associates LP Operating Income Chart

New England Realty Associates LP Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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17.27

14.97

14.24

18.09

19.79

New England Realty Associates LP Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income	Get a 7-Day Free Trial															5.14	4.45	4.74	4.90	5.70

New England Realty Associates LP 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 Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $19.79 Mil.

New England Realty Associates LP (AMEX:NEN) Operating Income Explanation

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

New England Realty Associates LP's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	22.788 * ( 1 - 0% )	/	( (284.511	+	272.796)	/ 2 )
=	22.788	/	278.6535
=	8.18 %

where

	Invested Capital		(Q: Sep. 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	))
=	386.158	-	31.919	-	( 99.394	-	max(0, 41.557	-	111.285	+	99.394	))
=	284.511

	Invested Capital		(Q: Dec. 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	))
=	385.731	-	32.428	-	( 102.931	-	max(0, 32.428	-	112.935	+	102.931	))
=	272.796

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

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

New England Realty Associates LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	24.968	/	( ( (0 + max(-31.869, 0))	+	(0 + max(-24.653, 0)) )	/	2 )
=	24.968	/	( ( 0	+	0 )	/	2 )
=	24.968	/	0
=	%

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.929	+	0	+	8.759)	-	(31.919	+	9.638	+	0)
=	-31.869

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.954	+	0	+	6.821)	-	(32.428	+	0	+	0)
=	-24.653

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

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

New England Realty Associates LP's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	5.697	/	19.727
	=	28.88 %

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.

New England Realty Associates LP Operating Income Related Terms

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New England Realty Associates LP (New England Realty Associates LP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » New England Realty Associates LP (AMEX:NEN) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

39 Brighton Avenue, Allston, MA, USA, 02134

Website

https://www.thehamiltoncompany.com

New England Realty Associates LP is engaged in the business of acquiring, developing, holding for investment, operating and selling real estate. The Partnership owns and operates various residential apartments, condominium units and commercial properties located in Massachusetts and New Hampshire. The company generates revenue from rental income from residential and commercial properties recognized over the term of the related lease. The long-term goals of the Partnership are to manage, rent and improve its properties and to acquire additional properties with income and capital appreciation potential as suitable opportunities arise.

Executives

Jameson Pruitt Brown	director, officer: Treasurer	NEW ENGLAND REALTY ASSOCIATES LP, 39 BRIGHTON AVENUE, ALLSTON MA 02360
Ronald Brown	officer: President	NEW ENGLAND REALTY ASSOCIATES LP, 39 BRIGHTON AVENUE, ALLSTON MA 02134
Carl Anthony Valeri	other: 5% Owner, Asset Manager	50 UDINE STREET, ARLINGTON MA 02476
Harold Brown	director, 10 percent owner, officer: Treas. & Dir. of Gen. Ptnr NEN	39 BRIGHTON AVE, ALLSTON MA 02134
1999 Revocable Trust	10 percent owner	C/O NEW ENGLAND REALTY ASSOCIATES LP, 39 BRIGHTON AVENUE, ALLSTON MA 02025
Nera 1994 Irrevocable Trust	10 percent owner, officer: Treasurer	C/O LANE AITMAN & OWENS, 101 FEDERAL STREET, BOSTON MA 02110
David R Jarvis	10 percent owner	C/O MERCURY REAL ESTATE ADVISORS LLC, 100 FIELD POINT ROAD, GREENWICH CT 06830
Mercury Real Estate Securities Offshore Fund, Ltd.	10 percent owner	100 FIELD POINT ROAD, GREENWICH CT 06830
Silvercreek Sav Llc	10 percent owner	C/O MERCURY REAL ESTATE ADVISORS LLC, 100 FIELD POINT ROAD, GREENWICH CT 06830
Mercury Special Situations Offshore Fund Ltd	10 percent owner	P O BOX 3460 RD TOWN, TORTOLA BVI E9 00000
Maclean Malcolm F Iv	10 percent owner	C/O ASPEN GROUP, INC., 1660 SOUTH ALBION STREET, SUITE 525, DENVER CO 80222
Mercury Real Estate Securities Fund Lp	10 percent owner	100 FIELD POINT ROAD, GREENWICH CT 06830
Mercury Mayfair Llc	10 percent owner	100 FIELD POINT ROAD, FIRST FLOOR, GREENWICH CT 06830
Mercury Special Situations Fund L P	10 percent owner	100 FIELD POINT RD, GREENWICH CT 06830
Mercury Securities Ii Llc	10 percent owner	100 FIELD POINT ROAD, FIRST FLOOR, GREENWICH CT 06830