Casa Systems (STU:6CS) Operating Income : €-60.2 Mil (TTM As of Sep. 2023)

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What is Casa Systems Operating Income?

Casa Systems's Operating Income for the three months ended in Sep. 2023 was €-17.2 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2023 was €-60.2 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Casa Systems's Operating Income for the three months ended in Sep. 2023 was €-17.2 Mil. Casa Systems's Revenue for the three months ended in Sep. 2023 was €58.2 Mil. Therefore, Casa Systems's Operating Margin % for the quarter that ended in Sep. 2023 was -29.64%.

Casa Systems'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. Casa Systems's annualized ROC % for the quarter that ended in Sep. 2023 was -43.79%. Casa Systems's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was -190.18%.

Casa Systems Operating Income Historical Data

The historical data trend for Casa Systems'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.

Casa Systems Operating Income Chart

Casa Systems Annual Data

Trend

Dec14

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Dec17

Dec18

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Dec20

Dec21

Dec22

Operating Income

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69.41

-8.21

19.90

16.16

-64.65

Casa Systems Quarterly Data
	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23
Operating Income	Get a 7-Day Free Trial															-30.43	-1.78	-25.35	-15.83	-17.25

Casa Systems 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 quarterly data reported by the company within the most recent 12 months, which was €-60.2 Mil.

Casa Systems (STU:6CS) Operating Income Explanation

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

Casa Systems'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: Jun. 2023 )	+	Invested Capital (Q: Sep. 2023 ))	/ count )
=	-68.98 * ( 1 - -3.21% )	/	( (170.883	+	154.275)	/ 2 )
=	-71.194258	/	162.579
=	-43.79 %

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	))
=	280.543	-	50.343	-	( 59.317	-	max(0, 124.694	-	188.382	+	59.317	))
=	170.883

	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	))
=	245.977	-	46.796	-	( 44.906	-	max(0, 107.223	-	158.994	+	44.906	))
=	154.275

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

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

Casa Systems'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: Jun. 2023		Q: Sep. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-52.884	/	( ( (20.141 + max(11.814, 0))	+	(9.465 + max(14.196, 0)) )	/	2 )
=	-52.884	/	( ( 31.955	+	23.661 )	/	2 )
=	-52.884	/	27.808
=	-190.18 %

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)
=	(43.75	+	77.61	+	7.705)	-	(50.343	+	49.471	+	17.437)
=	11.814

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(35.006	+	72.342	+	6.74)	-	(46.796	+	39.222	+	13.874)
=	14.196

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2023) EBIT data.

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

Casa Systems'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 )
	=	-17.245	/	58.177
	=	-29.64 %

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.

Casa Systems Operating Income Related Terms

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Casa Systems (STU:6CS) Business Description

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GURUFOCUS.COM » STOCK LIST » Technology » Hardware » Casa Systems Inc (STU:6CS) » Definitions » Operating Income

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CASA:USA 6CS:Germany

Address

100 Old River Road, Andover, MA, USA, 01810

Website

https://www.casa-systems.com

Casa Systems Inc is engaged in providing a suite of software-centric infrastructure solutions that allow cable service providers to deliver voice, video and data services over a single platform at multi-gigabit speeds. In addition, the company offers solutions for next-generation distributed and virtualized architectures in cable operator, fixed telecom, and wireless networks. The company focuses on creating a software-centric, multi-service portfolio that enables a broad range of core and access network functions for fixed and wireless networks. The company's product line includes cable networks, IP networks, mobile networks, optical networks, professional and managed services and others. Substantial revenue is generated from North American operations.

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