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Tadano (STU:TN0) Operating Income : €151 Mil (TTM As of Jun. 2024)


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What is Tadano Operating Income?

Tadano's Operating Income for the three months ended in Jun. 2024 was €39 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2024 was €151 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Tadano's Operating Income for the three months ended in Jun. 2024 was €39 Mil. Tadano's Revenue for the three months ended in Jun. 2024 was €464 Mil. Therefore, Tadano's Operating Margin % for the quarter that ended in Jun. 2024 was 8.43%.

Tadano'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. Tadano's annualized ROC % for the quarter that ended in Jun. 2024 was 5.85%. Tadano's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2024 was 14.00%.


Tadano Operating Income Historical Data

The historical data trend for Tadano'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.

Tadano Operating Income Chart

Tadano Annual Data
Trend Mar13 Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 118.67 126.13 117.29 -32.40 40.24

Tadano Quarterly Data
Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 27.87 32.85 34.59 39.17 44.88

Tadano 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 Jun. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was €151 Mil.

* 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.


Tadano  (STU:TN0) Operating Income Explanation

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

Tadano's annualized ROC % for the quarter that ended in Jun. 2024 is calculated as:

ROC % (Q: Jun. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2024 ) + Invested Capital (Q: Jun. 2024 ))/ count )
=156.68 * ( 1 - 47.14% )/( (1392.94 + 1439.568)/ 2 )
=82.821048/1416.254
=5.85 %

where

Invested Capital(Q: Mar. 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))
=2281.059 - 315.174 - ( 572.945 - max(0, 785.98 - 1714.611+572.945))
=1392.94

Invested Capital(Q: Jun. 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))
=2175.853 - 294.713 - ( 441.572 - max(0, 708.214 - 1629.44+441.572))
=1439.568

Note: The Operating Income data used here is four times the quarterly (Jun. 2024) data.

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

Tadano's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2024 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2024  Q: Jun. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=152.492/( ( (410.774 + max(645.524, 0)) + (396.835 + max(725.722, 0)) )/ 2 )
=152.492/( ( 1056.298 + 1122.557 )/ 2 )
=152.492/1089.4275
=14.00 %

where Working Capital is:

Working Capital(Q: Mar. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(197.407 + 865.11 + 79.149) - (315.174 + 0 + 180.968)
=645.524

Working Capital(Q: Jun. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(241.389 + 863.6 + 82.879) - (294.713 + 0 + 167.433)
=725.722

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2024) EBIT data.

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

Tadano's Operating Margin % for the quarter that ended in Jun. 2024 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2024 )/Revenue (Q: Jun. 2024 )
=39.17/464.447
=8.43 %

* 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.

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.


Tadano Operating Income Related Terms

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Tadano Business Description

Traded in Other Exchanges
Address
34 Kou, Nittacho, Kagawa Prefecture, Takamatsu City, JPN, 761-0185
Tadano Ltd manufactures cranes, aerial work platforms, and other components. Mobile cranes account for majority of sales, but the company has diversified into truck cranes, loader cranes, and other special purpose vehicles. Its equipment is built for various terrains with multiple steering and acceleration controls. Tadano has three reportable segments: Japan (majority of total revenue), Europe, and Americas. Its research and development division looks to utilize innovative and cutting-edge technologies for both domestic and overseas markets. The company offers used equipment and various cylinders to help meet urgent demand. A wide range of experienced and trained technicians help customize components for the operating machines.

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