Azeus Systems Holdings (SGX:BBW) Operating Income : S$10.14 Mil (TTM As of Sep. 2023)

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What is Azeus Systems Holdings Operating Income?

Azeus Systems Holdings's Operating Income for the six months ended in Sep. 2023 was S$5.05 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2023 was S$10.14 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Azeus Systems Holdings's Operating Income for the six months ended in Sep. 2023 was S$5.05 Mil. Azeus Systems Holdings's Revenue for the six months ended in Sep. 2023 was S$23.14 Mil. Therefore, Azeus Systems Holdings's Operating Margin % for the quarter that ended in Sep. 2023 was 21.82%.

Azeus Systems 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. Azeus Systems Holdings's annualized ROC % for the quarter that ended in Sep. 2023 was 40.94%. Azeus Systems Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was 235.32%.

Azeus Systems Holdings Operating Income Historical Data

The historical data trend for Azeus Systems 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.

Azeus Systems Holdings Operating Income Chart

Azeus Systems Holdings Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Operating Income

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3.61

4.35

3.97

9.45

10.38

Azeus Systems Holdings Semi-Annual Data
	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
Operating Income	Get a 7-Day Free Trial															3.33	6.11	5.58	5.09	5.05

Azeus Systems 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. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was S$10.14 Mil.

Azeus Systems Holdings (SGX:BBW) Operating Income Explanation

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

Azeus Systems Holdings's annualized ROC % for the quarter that ended in Sep. 2023 is calculated as:

	ROC % (Q: Sep. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2023 )	+	Invested Capital (Q: Sep. 2023 ))	/ count )
=	10.098 * ( 1 - 2.66% )	/	( (24.851	+	23.169)	/ 2 )
=	9.8293932	/	24.01
=	40.94 %

where

	Invested Capital		(Q: Mar. 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	))
=	43.444	-	0.956	-	( 17.637	-	max(0, 18.063	-	41.472	+	17.637	))
=	24.851

	Invested Capital		(Q: Sep. 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	))
=	52.953	-	1.916	-	( 28.533	-	max(0, 17.72	-	45.588	+	28.533	))
=	23.169

Note: The Operating Income data used here is two times the semi-annual (Sep. 2023) data.

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

Azeus Systems Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2023		Q: Sep. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	9.928	/	( ( (0.762 + max(1.514, 0))	+	(6.162 + max(-6.207, 0)) )	/	2 )
=	9.928	/	( ( 2.276	+	6.162 )	/	2 )
=	9.928	/	4.219
=	235.32 %

where Working Capital is:

	Working Capital		(Q: Mar. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(7.487	+	0.624	+	10.953)	-	(0.956	+	0	+	16.594)
=	1.514

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(9.932	+	0.637	+	0.421)	-	(1.916	+	0	+	15.281)
=	-6.207

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Sep. 2023) EBIT data.

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

Azeus Systems Holdings's Operating Margin % for the quarter that ended in Sep. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Sep. 2023 )	/	Revenue (Q: Sep. 2023 )
	=	5.049	/	23.135
	=	21.82 %

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.

Azeus Systems Holdings Operating Income Related Terms

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Azeus Systems Holdings (SGX:BBW) Business Description

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Address

255 King’s Road, 22th Floor, Olympia Plaza, North Point, Hong Kong, HKG

Website

https://www.azeus.com

Azeus Systems Holdings Ltd is made up of a group of companies, which are mainly known as IT solutions providers. It is a global company that operates mainly in Europe, Asia, the Middle East, Australia, North and South America, Africa, and the Caribbean. It operates through two segments, IT Services and Azeus Product. The IT Service segment includes designing and implementing a broad range of IT software and systems, as well as developing and integrating various software programmes of IT systems to fulfill the outsourcing needs of its customers. Its Product includes developing innovative technologies and solutions such as proprietary products known as AzeusCare - an enterprise level social care management system, and Convene - an award-winning Board Portal.