Seri Industrial (STU:PCHP) Operating Income : €-8.5 Mil (TTM As of Dec. 2023)

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What is Seri Industrial Operating Income?

Seri Industrial's Operating Income for the six months ended in Dec. 2023 was €-3.1 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was €-8.5 Mil.

Warning Sign:

Seri Industrial has never been profitable in the past 3 years. It lost money every year.

Operating Margin % is calculated as Operating Income divided by its Revenue. Seri Industrial's Operating Income for the six months ended in Dec. 2023 was €-3.1 Mil. Seri Industrial's Revenue for the six months ended in Dec. 2023 was €81.5 Mil. Therefore, Seri Industrial's Operating Margin % for the quarter that ended in Dec. 2023 was -3.78%.

Seri Industrial'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. Seri Industrial's annualized ROC % for the quarter that ended in Dec. 2023 was -1.03%. Seri Industrial's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -3.63%.

Seri Industrial Operating Income Historical Data

The historical data trend for Seri Industrial'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.

Seri Industrial Operating Income Chart

Seri Industrial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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6.93

-9.05

-0.07

-3.29

-8.51

Seri Industrial Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Operating Income	Get a 7-Day Free Trial															1.15	-1.97	-1.32	-5.43	-3.08

Seri Industrial 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 semi-annually data reported by the company within the most recent 12 months, which was €-8.5 Mil.

Seri Industrial (STU:PCHP) Operating Income Explanation

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

Seri Industrial'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 )
=	-6.16 * ( 1 - 47.5% )	/	( (303.243	+	322.745)	/ 2 )
=	-3.234	/	312.994
=	-1.03 %

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	))
=	362.93	-	55.908	-	( 3.779	-	max(0, 129.36	-	153.127	+	3.779	))
=	303.243

	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	))
=	442.955	-	55.055	-	( 65.155	-	max(0, 136.503	-	225.101	+	65.155	))
=	322.745

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

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

Seri Industrial'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 )
=	-6.048	/	( ( (104.631 + max(72.742, 0))	+	(98.194 + max(57.534, 0)) )	/	2 )
=	-6.048	/	( ( 177.373	+	155.728 )	/	2 )
=	-6.048	/	166.5505
=	-3.63 %

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)
=	(31.791	+	82.562	+	23.451)	-	(55.908	+	0	+	9.154)
=	72.742

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(35.316	+	72.294	+	19.707)	-	(55.055	+	0	+	14.728)
=	57.534

When net working capital is negative, 0 is used.

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

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

Seri Industrial'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 )
	=	-3.08	/	81.462
	=	-3.78 %

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.

Seri Industrial Operating Income Related Terms

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

Seri Industrial (STU:PCHP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Independent Power Producers » Seri Industrial (STU:PCHP) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

SERI:Italy 0Q98:UK PCHP:Germany

Address

via Provinciale per Gioia Sannitica, San Potito Sannitico, Caserta, ITA, 81016

Website

https://www.seri-industrial.it

Seri Industrial is a financial holding company. It researches, markets and designs the production of energy from renewable sources including wind and solar power. The company offers lead and lithium batteries for traction, stationary, and automotive applications. It also produces lids, boxes, and accessories for industrial, traction, and stationary batteries, as well as for the automotive sector.

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