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OPY (Oppenheimer Holdings) Operating Income : $305 Mil (TTM As of Dec. 2024)


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What is Oppenheimer Holdings Operating Income?

Oppenheimer Holdings's Operating Income for the three months ended in Dec. 2024 was $69 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2024 was $305 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Oppenheimer Holdings's Operating Income for the three months ended in Dec. 2024 was $69 Mil. Oppenheimer Holdings's Revenue for the three months ended in Dec. 2024 was $375 Mil. Therefore, Oppenheimer Holdings's Operating Margin % for the quarter that ended in Dec. 2024 was 18.47%.

Good Sign:

Oppenheimer Holdings Inc operating margin is expanding. Margin expansion is usually a good sign.

Oppenheimer Holdings's 5-Year average Growth Rate for Operating Margin % was 0.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Oppenheimer Holdings's annualized ROC % for the quarter that ended in Dec. 2024 was 6.07%. Oppenheimer Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2024 was 7.76%.


Oppenheimer Holdings Operating Income Historical Data

The historical data trend for Oppenheimer Holdings'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.

Oppenheimer Holdings Operating Income Chart

Oppenheimer Holdings Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 260.21 344.30 199.18 284.18 304.83

Oppenheimer Holdings Quarterly Data
Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 68.52 85.16 62.88 87.45 69.34

Oppenheimer Holdings 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. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $305 Mil.

* 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.


Oppenheimer Holdings  (NYSE:OPY) Operating Income Explanation

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

Oppenheimer Holdings's annualized ROC % for the quarter that ended in Dec. 2024 is calculated as:

ROC % (Q: Dec. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2024 ) + Invested Capital (Q: Dec. 2024 ))/ count )
=277.34 * ( 1 - 37.14% )/( (2844.593 + 2903.696)/ 2 )
=174.335924/2874.1445
=6.07 %

where

Invested Capital(Q: Sep. 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))
=3367.285 - 490.45 - ( 32.242 - max(0, 490.45 - 2556.562+32.242))
=2844.593

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))
=3382.726 - 445.88 - ( 33.15 - max(0, 445.88 - 2727.437+33.15))
=2903.696

Note: The Operating Income data used here is four times the quarterly (Dec. 2024) data.

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

Oppenheimer Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2024 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2024  Q: Dec. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=153.708/( ( (166.349 + max(1687.722, 0)) + (172.009 + max(1937.499, 0)) )/ 2 )
=153.708/( ( 1854.071 + 2109.508 )/ 2 )
=153.708/1981.7895
=7.76 %

where Working Capital is:

Working Capital(Q: Sep. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1296.339 + 0 + 881.833) - (490.45 + 0 + 0)
=1687.722

Working Capital(Q: Dec. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1268.866 + 0 + 1114.513) - (445.88 + 0 + 0)
=1937.499

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2024) EBIT data.

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

Oppenheimer Holdings's Operating Margin % for the quarter that ended in Dec. 2024 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2024 )/Revenue (Q: Dec. 2024 )
=69.335/375.417
=18.47 %

* 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.


Oppenheimer Holdings Operating Income Related Terms

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Oppenheimer Holdings Business Description

Traded in Other Exchanges
N/A
Address
85 Broad Street, New York, NY, USA, 10004
Oppenheimer Holdings Inc conducts activities in the securities industry. The company is involved in retail securities brokerage, investment banking (both corporate and public finance), institutional sales and trading, market-making, research, trust services, and investment advisory and asset management services. The company has two segments: Wealth Management, and Capital Markets. IT generates maximum revenue from Wealth Management Segment which includes commissions and fee income earned on assets under management (AUM), net interest earnings on client margin loans and cash balances, fees from money market funds, custodian fees and other activities. The company generates the majority of its revenue from the Americas, with the rest from Europe, the Middle East, and Asia.
Executives
Evan Behrens director C/O SEACOR HOLDINGS INC., 2200 ELLER DRIVE, P.O. BOX 13038, FORT LAUDERDALE FL 33316
Dennis P Mcnamara officer: Secretary C/O OPPENHEIMER & CO. INC., 85 BROAD STREET, NEW YORK NY 10004
Stacy J. Kanter director C/O APPLIED THERAPEUTICS, INC., 340 MADISON AVENUE, 19TH FLOOR, NEW YORK NY 10173
Brad M Watkins officer: CFO 72 CANDY LANE, SYOSSET NY 11791
Paul M Friedman director 11 DEERFIELD LANE, SCARSDALE NY 10583
R Lawrence Roth director C/O OPPENHEIMER HOLDINGS INC., 85 BROAD STREET, NEW YORK NY 10004
A Winn Oughtred director 52 MAPLE AVE, TORONTO ONTARIO A6 M4W 2T7
Timothy Martin Dwyer director 60 BEACON HILL ROAD, NEW CANAAN CT 06840
William Ehrhardt director 101 PARK BLVD NORTH, VENICE FL 34285
Teresa Glasser director 1044 GRAND ISLE TERRACE, PALM BEACH GARDENS FL 33418
Robert S Lowenthal director 85 BROAD STREET, NEW YORK NY 10004
Albert G Lowenthal director, 10 percent owner, officer: CEO OPPENHEIMER HOLDINGS INC., 85 BROAD STREET, NEW YORK NY 10004
Jeffrey J Alfano officer: CFO C/O OPPENHEIMER & CO. INC., 85 BROAD STREET, NEW YORK NY 10004
Morris Goldfarb director C/O G-III APPAREL GROUP, 345 W 37TH ST, NY NY 10018
Richard Crystal director 41 BLACK BIRCH LN, SCARSDALE NY 10583