Guizhou Panjiang Refined Coal Co (SHSE:600395) Operating Income : ¥352 Mil (TTM As of Mar. 2025)

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What is Guizhou Panjiang Refined Coal Co Operating Income?

Guizhou Panjiang Refined Coal Co's Operating Income for the three months ended in Mar. 2025 was ¥14 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2025 was ¥352 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Guizhou Panjiang Refined Coal Co's Operating Income for the three months ended in Mar. 2025 was ¥14 Mil. Guizhou Panjiang Refined Coal Co's Revenue for the three months ended in Mar. 2025 was ¥2,482 Mil. Therefore, Guizhou Panjiang Refined Coal Co's Operating Margin % for the quarter that ended in Mar. 2025 was 0.58%.

Warning Sign:

Guizhou Panjiang Refined Coal Co Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -22.2%.

Guizhou Panjiang Refined Coal Co's 5-Year average Growth Rate for Operating Margin % was -22.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Guizhou Panjiang Refined Coal Co's annualized ROC % for the quarter that ended in Mar. 2025 was 0.15%. Guizhou Panjiang Refined Coal Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 was 0.23%.

Guizhou Panjiang Refined Coal Co Operating Income Historical Data

The historical data trend for Guizhou Panjiang Refined Coal Co'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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Guizhou Panjiang Refined Coal Co Operating Income Chart

Guizhou Panjiang Refined Coal Co Annual Data

Trend

Dec15

Dec16

Dec17

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Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Operating Income

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1,131.77

1,938.11

2,683.86

1,086.34

411.60

Guizhou Panjiang Refined Coal Co Quarterly Data
	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25
Operating Income	Get a 7-Day Free Trial															74.47	19.21	95.85	222.07	14.42

Guizhou Panjiang Refined Coal Co 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 Mar. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was ¥352 Mil.

Guizhou Panjiang Refined Coal Co (SHSE:600395) Operating Income Explanation

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

Guizhou Panjiang Refined Coal Co's annualized ROC % for the quarter that ended in Mar. 2025 is calculated as:

	ROC % (Q: Mar. 2025 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2024 )	+	Invested Capital (Q: Mar. 2025 ))	/ count )
=	57.68 * ( 1 - -14.83% )	/	( (44466.818	+	46636.29)	/ 2 )
=	66.233944	/	45551.554
=	0.15 %

where

	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	))
=	43453.825	-	5607.002	-	( 1710.313	-	max(0, 12903.146	-	6283.151	+	1710.313	))
=	44466.818

	Invested Capital		(Q: Mar. 2025 )
=	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	))
=	45559.356	-	5322.057	-	( 2696.576	-	max(0, 13495.166	-	7096.175	+	2696.576	))
=	46636.29

Note: The Operating Income data used here is four times the quarterly (Mar. 2025) data.

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

Guizhou Panjiang Refined Coal Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2025 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2025 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2024		Q: Mar. 2025
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	63.74	/	( ( (27362.936 + max(-2932.629, 0))	+	(29230.432 + max(-2675.828, 0)) )	/	2 )
=	63.74	/	( ( 27362.936	+	29230.432 )	/	2 )
=	63.74	/	28296.684
=	0.23 %

where Working Capital is:

	Working Capital		(Q: Dec. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(882.187	+	926.027	+	984.762)	-	(5607.002	+	0	+	118.603)
=	-2932.629

	Working Capital		(Q: Mar. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(938.727	+	755.737	+	1067.745)	-	(5322.057	+	0	+	115.98)
=	-2675.828

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2025) EBIT data.

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

Guizhou Panjiang Refined Coal Co's Operating Margin % for the quarter that ended in Mar. 2025 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2025 )	/	Revenue (Q: Mar. 2025 )
	=	14.42	/	2481.915
	=	0.58 %

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.

Guizhou Panjiang Refined Coal Co Operating Income Related Terms

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Guizhou Panjiang Refined Coal Co Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Other Energy Sources » Guizhou Panjiang Refined Coal Co Ltd (SHSE:600395) » Definitions » Operating Income

Traded in Other Exchanges

N/A

Address

Gangou Bridge, Hongguo Economic Development Zone, Guizhou, Liupanshui, CHN, 553536

Website

http://www.pjgf.cn

Guizhou Panjiang Refined Coal Co Ltd is engaged in coal development in Panjiang Mining Area. The company produces gas to coal, fat coal, 1/3 coking coal, and main coking coal, Thin coal, lean coal, anthracite, reserves and coal species.

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