Raffles Education (Raffles Education) Operating Income : $0.00 Mil (TTM As of Dec. 2023)

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What is Raffles Education Operating Income?

Raffles Education's Operating Income for the three months ended in Dec. 2023 was $0.00 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $0.00 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Raffles Education's Operating Income for the three months ended in Dec. 2023 was $0.00 Mil. Raffles Education's Revenue for the three months ended in Dec. 2023 was $0.00 Mil. Therefore, Raffles Education's Operating Margin % for the quarter that ended in Dec. 2023 was %.

Warning Sign:

Raffles Education Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -37.9%.

Raffles Education's 5-Year average Growth Rate for Operating Margin % was -37.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Raffles Education's annualized ROC % for the quarter that ended in Dec. 2023 was 0.00%. Raffles Education's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 0.00%.

Raffles Education Operating Income Historical Data

The historical data trend for Raffles Education'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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Raffles Education Operating Income Chart

Raffles Education Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Operating Income

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-3.63

-0.78

-5.33

-15.41

-18.21

Raffles Education Quarterly Data
	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Dec22	Jun23	Dec23
Operating Income	Get a 7-Day Free Trial															2.30	-47.81	-	-	-

Raffles Education 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 $0.00 Mil.

Raffles Education (OTCPK:RFLFF) Operating Income Explanation

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

Raffles Education'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: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	0 * ( 1 - 0% )	/	( (896.84	+	895.668)	/ 2 )
=	0	/	896.254
=	0.00 %

where

	Invested Capital		(Q: Jun. 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	))
=	854.285	-	40.331	-	( 17.981	-	max(0, 200.414	-	117.528	+	17.981	))
=	896.84

	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	))
=	846.771	-	36.394	-	( 35.751	-	max(0, 197.07	-	111.779	+	35.751	))
=	895.668

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

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

Raffles Education'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: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	0	/	( ( (362.425 + max(17.01, 0))	+	(361.767 + max(-14.856, 0)) )	/	2 )
=	0	/	( ( 379.435	+	361.767 )	/	2 )
=	0	/	370.601
=	0.00 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2.521	+	0.045	+	82.043)	-	(40.331	+	0	+	27.268)
=	17.01

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2.654	+	0.044	+	58.762)	-	(36.394	+	0	+	39.922)
=	-14.856

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 %:

Raffles Education'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 )
	=	0	/	0
	=	%

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.

Raffles Education Operating Income Related Terms

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Raffles Education (Raffles Education) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Education » Raffles Education Ltd (OTCPK:RFLFF) » Definitions » Operating Income

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NR7:Singapore

Address

111 Somerset, Unit No. 15-22, Singapore, SGP, 238164

Website

https://www.raffles.education

Raffles Education Ltd operates as an investment holding company, which engages in providing business and management consultancy services. It operates through the following business segments: Education, Education Facilities Rental Service, Real Estate Investment and Development, and Corporate and Others. The Education segment offers students a range of degree, diploma and full-time certification programmes in design and business-oriented disciplines at the post-secondary level. The Education Facilities Rental Service segment refers to the OUCHK engaging in education facilities leasing and commercial leasing for supporting facilities. The Real Estate Investment and Development segment participates in real estate investments and development.