Brodrene A & O Johansen AS (OCSE:AOJ B) Operating Income : kr266 Mil (TTM As of Mar. 2025)

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What is Brodrene A & O Johansen AS Operating Income?

Brodrene A & O Johansen AS's Operating Income for the three months ended in Mar. 2025 was kr60 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2025 was kr266 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Brodrene A & O Johansen AS's Operating Income for the three months ended in Mar. 2025 was kr60 Mil. Brodrene A & O Johansen AS's Revenue for the three months ended in Mar. 2025 was kr1,486 Mil. Therefore, Brodrene A & O Johansen AS's Operating Margin % for the quarter that ended in Mar. 2025 was 4.06%.

Brodrene A & O Johansen AS's 5-Year average Growth Rate for Operating Margin % was -0.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Brodrene A & O Johansen AS's annualized ROC % for the quarter that ended in Mar. 2025 was 6.90%. Brodrene A & O Johansen AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 was 13.76%.

Brodrene A & O Johansen AS Operating Income Historical Data

The historical data trend for Brodrene A & O Johansen AS'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.

Brodrene A & O Johansen AS Operating Income Chart

Brodrene A & O Johansen AS Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Operating Income

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223.70

316.72

383.07

292.00

245.90

Brodrene A & O Johansen AS Quarterly Data
	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25
Operating Income	Get a 7-Day Free Trial															40.60	45.63	69.21	90.42	60.40

Brodrene A & O Johansen AS 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 Mar. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was kr266 Mil.

Brodrene A & O Johansen AS (OCSE:AOJ B) Operating Income Explanation

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

Brodrene A & O Johansen AS's annualized ROC % for the quarter that ended in Mar. 2025 is calculated as:

	ROC % (Q: Mar. 2025 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2024 )	+	Invested Capital (Q: Mar. 2025 ))	/ count )
=	241.6 * ( 1 - 19.8% )	/	( (2663.2	+	2949.8)	/ 2 )
=	193.7632	/	2806.5
=	6.90 %

where

	Invested Capital		(Q: Dec. 2024 )
=	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	))
=	3787.4	-	1068.8	-	( 55.4	-	max(0, 1419.5	-	1556.3	+	55.4	))
=	2663.2

	Invested Capital		(Q: Mar. 2025 )
=	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	))
=	3959	-	968.2	-	( 41	-	max(0, 1550.7	-	1672	+	41	))
=	2949.8

Note: The Operating Income data used here is four times the quarterly (Mar. 2025) data.

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

Brodrene A & O Johansen AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2025 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2024		Q: Mar. 2025
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	246.4	/	( ( (1302.9 + max(330.3, 0))	+	(1350.9 + max(596.7, 0)) )	/	2 )
=	246.4	/	( ( 1633.2	+	1947.6 )	/	2 )
=	246.4	/	1790.4
=	13.76 %

where Working Capital is:

	Working Capital		(Q: Dec. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(608.2	+	814.5	+	16.4)	-	(1068.8	+	0	+	40)
=	330.3

	Working Capital		(Q: Mar. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(731.6	+	820.5	+	23.3)	-	(968.2	+	0	+	10.5)
=	596.7

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2025) EBIT data.

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

Brodrene A & O Johansen AS's Operating Margin % for the quarter that ended in Mar. 2025 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2025 )	/	Revenue (Q: Mar. 2025 )
	=	60.4	/	1486.1
	=	4.06 %

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.

Brodrene A & O Johansen AS Operating Income Related Terms

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Brodrene A & O Johansen AS Business Description

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Address

Rorvang 3, Albertslund, DNK, 2620

Website

http://www.ao.dk

Brodrene A & O Johansen AS is a distributor of industrial products in Denmark. It provides technical installation materials and supplies to the construction industry in Denmark. Its products include heating plumbing and sanitary ware products, electrical equipment and components, water supply and drainage products. Its clients comprise of plumbers, electricians, building contractors, sewer contractors, construction companies, municipalities, utilities and public institutions. The company follows three sales channels, which are AO Stores, which cater to the local market; Online trading, which offers products through its website and mobile application and competency centers where customers may place orders and get advice and direction as well as offers over the phone.

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