TCYMF (Tingyi (Cayman Islands) Holding) Operating Income : $677 Mil (TTM As of Jun. 2024)

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What is Tingyi (Cayman Islands) Holding Operating Income?

Tingyi (Cayman Islands) Holding's Operating Income for the six months ended in Jun. 2024 was $386 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2024 was $677 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Tingyi (Cayman Islands) Holding's Operating Income for the six months ended in Jun. 2024 was $386 Mil. Tingyi (Cayman Islands) Holding's Revenue for the six months ended in Jun. 2024 was $5,679 Mil. Therefore, Tingyi (Cayman Islands) Holding's Operating Margin % for the quarter that ended in Jun. 2024 was 6.79%.

Warning Sign:

Tingyi (Cayman Islands) Holding Corp operating margin has been in a 5-year decline. The average rate of decline per year is -5.4%.

Tingyi (Cayman Islands) Holding's 5-Year average Growth Rate for Operating Margin % was -5.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Tingyi (Cayman Islands) Holding's annualized ROC % for the quarter that ended in Jun. 2024 was 8.32%. Tingyi (Cayman Islands) Holding's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2024 was 27.48%.

Tingyi (Cayman Islands) Holding Operating Income Historical Data

The historical data trend for Tingyi (Cayman Islands) Holding'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.

Tingyi (Cayman Islands) Holding Operating Income Chart

Tingyi (Cayman Islands) Holding Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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567.49

894.10

732.66

512.04

578.98

Tingyi (Cayman Islands) Holding Semi-Annual Data
	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Operating Income	Get a 7-Day Free Trial															204.95	315.22	286.57	291.56	385.71

Tingyi (Cayman Islands) Holding 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 semi-annually data reported by the company within the most recent 12 months, which was $677 Mil.

Tingyi (Cayman Islands) Holding (OTCPK:TCYMF) Operating Income Explanation

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

Tingyi (Cayman Islands) Holding'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: Dec. 2023 )	+	Invested Capital (Q: Jun. 2024 ))	/ count )
=	771.416 * ( 1 - 26.58% )	/	( (7191.684	+	6431.028)	/ 2 )
=	566.3736272	/	6811.356
=	8.32 %

where

	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	))
=	7443.721	-	1473.212	-	( 1596.114	-	max(0, 4088.543	-	2867.368	+	1596.114	))
=	7191.684

	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	))
=	7721.856	-	3093.241	-	( 1808.99	-	max(0, 4812.782	-	3010.369	+	1808.99	))
=	6431.028

Note: The Operating Income data used here is two times the semi-annual (Jun. 2024) data.

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

Tingyi (Cayman Islands) Holding'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: Dec. 2023		Q: Jun. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	898.294	/	( ( (3054.752 + max(-1750.973, 0))	+	(3483.064 + max(-2402.718, 0)) )	/	2 )
=	898.294	/	( ( 3054.752	+	3483.064 )	/	2 )
=	898.294	/	3268.908
=	27.48 %

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(221.28	+	614.166	+	293.787)	-	(1473.212	+	0	+	1406.994)
=	-1750.973

	Working Capital		(Q: Jun. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(291.12	+	555.277	+	16.414)	-	(3093.241	+	0	+	172.288)
=	-2402.718

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2024) EBIT data.

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

Tingyi (Cayman Islands) Holding'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 )
	=	385.708	/	5679.244
	=	6.79 %

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.

Tingyi (Cayman Islands) Holding Operating Income Related Terms

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Tingyi (Cayman Islands) Holding Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Tingyi (Cayman Islands) Holding Corp (OTCPK:TCYMF) » Definitions » Operating Income

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Traded in Other Exchanges

TYCMY:USA 910322:Taiwan 00322:Hong Kong TYG:Germany

Address

No. 1688, Wuzhong Road, Building A, Minhang District, Shanghai, CHN, 201103

Website

https://www.masterkong.com.cn

Tingyi is a major producer of instant noodles and ready-to-drink beverages in China, with its Master Kong brand being the most popular. The company commenced its instant noodle business in the country in 1992 and expanded into beverages in 1996. In March 2012, Tingyi formed a strategic alliance with PepsiCo and became the exclusive manufacturer and distributor of Pepsi's nonalcoholic drinks in China.

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