Appreciate Holdings (Appreciate Holdings) Operating Income : $-11.78 Mil (TTM As of Sep. 2022)

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What is Appreciate Holdings Operating Income?

Appreciate Holdings's Operating Income for the three months ended in Sep. 2022 was $-1.05 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2022 was $-11.78 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Appreciate Holdings's Operating Income for the three months ended in Sep. 2022 was $-1.05 Mil. Appreciate Holdings's Revenue for the three months ended in Sep. 2022 was $0.00 Mil. Therefore, Appreciate Holdings's Operating Margin % for the quarter that ended in Sep. 2022 was %.

Appreciate Holdings'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. Appreciate Holdings's annualized ROC % for the quarter that ended in Sep. 2022 was -1.98%. Appreciate Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2022 was %.

Appreciate Holdings Operating Income Historical Data

The historical data trend for Appreciate 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.

Appreciate Holdings Operating Income Chart

Appreciate Holdings Annual Data

Trend

Dec20

Dec21

Operating Income

-1.19

Appreciate Holdings Quarterly Data
	Aug20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22
Operating Income	Get a 7-Day Free Trial				-0.23	-0.40	-0.44	-9.89	-1.05

Appreciate 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 Sep. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was $-11.78 Mil.

Appreciate Holdings (OTCPK:SFRT) Operating Income Explanation

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

Appreciate Holdings's annualized ROC % for the quarter that ended in Sep. 2022 is calculated as:

	ROC % (Q: Sep. 2022 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2022 )	+	Invested Capital (Q: Sep. 2022 ))	/ count )
=	-4.208 * ( 1 - -8.5% )	/	( (230.091	+	231.123)	/ 2 )
=	-4.56568	/	230.607
=	-1.98 %

where

	Invested Capital		(Q: Jun. 2022 )
=	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	))
=	230.479	-	9.602	-	( 0.233	-	max(0, 9.602	-	0.388	+	0.233	))
=	230.091

	Invested Capital		(Q: Sep. 2022 )
=	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	))
=	231.212	-	10.339	-	( 0.057	-	max(0, 10.414	-	0.164	+	0.057	))
=	231.123

Note: The Operating Income data used here is four times the quarterly (Sep. 2022) data.

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

Appreciate Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2022 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2022 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2022		Q: Sep. 2022
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-4.208	/	( ( (0 + max(-9.447, 0))	+	(0 + max(-10.232, 0)) )	/	2 )
=	-4.208	/	( ( 0	+	0 )	/	2 )
=	-4.208	/	0
=	%

where Working Capital is:

	Working Capital		(Q: Jun. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.155)	-	(9.602	+	0	+	0)
=	-9.447

	Working Capital		(Q: Sep. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.107)	-	(10.339	+	0	+	0)
=	-10.232

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2022) EBIT data.

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

Appreciate Holdings's Operating Margin % for the quarter that ended in Sep. 2022 is calculated as:

Operating Margin %	=	Operating Income (Q: Sep. 2022 )	/	Revenue (Q: Sep. 2022 )
	=	-1.052	/	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.

Appreciate Holdings Operating Income Related Terms

Thank you for viewing the detailed overview of Appreciate Holdings's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

Appreciate Holdings (Appreciate Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Appreciate Holdings Inc (OTCPK:SFRT) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

6101 Baker Rd, Suite 200, Minnetonka, MN, USA, MN 55345

Website

https://www.appreciate.rent

Appreciate Holdings Inc through its operating company Renters Warehouse offers an end-to-end Single Family Rental marketplace and management platform. The company offers a full-service platform for investing in and owning SFR properties, including a proprietary online marketplace and full-service brokerage teams.

Executives

Laurie A. Hawkes	director	7047 EAST GREENWAY PARKWAY, SUITE 350, SCOTTSDALE AZ 85254
Lake Street Landlords, Llc	10 percent owner	315 LAKE STREET E., SUITE 301, WAYZATA MN 55391
Nolan Jacobson	officer: Chief Financial Officer	19880 ANDOVER PLACE, EXCELSIOR MN 55331
Todd Jable	officer: Chief Technology Officer & COO	996 NORTH ARM DRIVE, ORONO MN 55364
Christopher Laurence	director, officer: Chief Executive Officer	1233 SNOW BERRY STREET, PARK CITY UT 84098
Kevin Ortner	officer: President	7008 SANDY HOOK CIRCLE, CHANHASSEN MN 55317
Marcy Haymaker	director	C/O PERCEPTION CAPITAL CORP. II, 315 LAKE STREET EAST, SUITE 301, WAYZATA MN 55391
Scott Honour	director	10877 WILSHIRE BOULEVARD, 18TH FLOOR, LOS ANGELES CA 90024
William John Bush	director	539 BRYANT STREET, SUITE 403, SAN FRANCISCO CA 94107
Douglas Bergeron	director	111 W. OCEAN BOULEVARD, LONG BEACH CA 90802
Polar Asset Management Partners Inc.	10 percent owner	16 YORK STREET SUITE 2900, TORONTO A6 M5J 0E6
Robinson Courtney A	director	3485 N. PINES WAY SUITE 110, WILSON WY 83014
Thomas D Hennessy	director, 10 percent owner, officer: Co-CEO and President	3485 N. PINES WAY SUITE 110, WILSON WY 83014
Hc Proptech Partners Ii Llc	10 percent owner	3485 N. PINES WAY, SUITE 110, WILSON WY 83014
Gloria Fu	director	3485 N. PINES WAY, SUITE 110, WILSON WY 83014