Makati Finance (PHS:MFIN) Operating Income : ₱-26.4 Mil (TTM As of Sep. 2024)

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What is Makati Finance Operating Income?

Makati Finance's Operating Income for the three months ended in Sep. 2024 was ₱-11.8 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2024 was ₱-26.4 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Makati Finance's Operating Income for the three months ended in Sep. 2024 was ₱-11.8 Mil. Makati Finance's Revenue for the three months ended in Sep. 2024 was ₱42.7 Mil. Therefore, Makati Finance's Operating Margin % for the quarter that ended in Sep. 2024 was -27.65%.

Makati Finance'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. Makati Finance's annualized ROC % for the quarter that ended in Sep. 2024 was -3.75%. Makati Finance's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2024 was -7.21%.

Makati Finance Operating Income Historical Data

The historical data trend for Makati Finance'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.

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Makati Finance Operating Income Chart

Makati Finance Annual Data

Trend

Dec14

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Dec23

Operating Income

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15.67

-1.55

4.09

-10.98

-6.46

Makati Finance Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24
Operating Income	Get a 7-Day Free Trial															-1.38	-4.52	2.13	-12.23	-11.80

Makati Finance 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 Sep. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was ₱-26.4 Mil.

Makati Finance (PHS:MFIN) Operating Income Explanation

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

Makati Finance's annualized ROC % for the quarter that ended in Sep. 2024 is calculated as:

	ROC % (Q: Sep. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2024 )	+	Invested Capital (Q: Sep. 2024 ))	/ count )
=	-47.196 * ( 1 - 12.87% )	/	( (1101.521	+	1089.196)	/ 2 )
=	-41.1218748	/	1095.3585
=	-3.75 %

where

	Invested Capital		(Q: Jun. 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	))
=	1177.114	-	29.239	-	( 46.354	-	max(0, 578.316	-	716.102	+	46.354	))
=	1101.521

	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	))
=	1136.768	-	19.466	-	( 28.106	-	max(0, 539.15	-	710.977	+	28.106	))
=	1089.196

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

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

Makati Finance's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2024		Q: Sep. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-47.196	/	( ( (21.926 + max(618.014, 0))	+	(23.691 + max(644.979, 0)) )	/	2 )
=	-47.196	/	( ( 639.94	+	668.67 )	/	2 )
=	-47.196	/	654.305
=	-7.21 %

where Working Capital is:

	Working Capital		(Q: Jun. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(558.859	+	0	+	110.889)	-	(29.239	+	0	+	22.495)
=	618.014

	Working Capital		(Q: Sep. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(570.296	+	0	+	112.575)	-	(19.466	+	0	+	18.426)
=	644.979

When net working capital is negative, 0 is used.

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

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

Makati Finance's Operating Margin % for the quarter that ended in Sep. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Sep. 2024 )	/	Revenue (Q: Sep. 2024 )
	=	-11.799	/	42.674
	=	-27.65 %

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.

Makati Finance Operating Income Related Terms

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Makati Finance Business Description

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Address

2301 Chino Roces Avenue, 3rd Floor Mazda Makati Building, Barangay Magallanes, Makati City, PHL, 1231

Website

http://www.makatifinance.ph

Makati Finance Corp provides financial services and advisory to its clients. The company's operations include sales and marketing, evaluation and approval of loan applications, and collection of loan accounts. The company derives revenues from the following main operating business segments of Rx Cashline Group; Business loans; MFC Factors Group; Motor Vehicles Financing Group and Others. The business loans division grants loans to finance business owners who wishes to expand its business or to start capital whereas the Motor Vehicles Financing Group grants loans to motorcycle buyers. The company's assets producing revenues are located in the Philippines.