Royal Boskalis Westminster NV (XAMS:BOKA) Operating Income : €178 Mil (TTM As of Jun. 2022)

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What is Royal Boskalis Westminster NV Operating Income?

Royal Boskalis Westminster NV's Operating Income for the six months ended in Jun. 2022 was €92 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2022 was €178 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Royal Boskalis Westminster NV's Operating Income for the six months ended in Jun. 2022 was €92 Mil. Royal Boskalis Westminster NV's Revenue for the six months ended in Jun. 2022 was €1,610 Mil. Therefore, Royal Boskalis Westminster NV's Operating Margin % for the quarter that ended in Jun. 2022 was 5.69%.

Warning Sign:

Royal Boskalis Westminster NV operating margin has been in a 5-year decline. The average rate of decline per year is -4.1%.

Royal Boskalis Westminster NV's 5-Year average Growth Rate for Operating Margin % was -4.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Royal Boskalis Westminster NV's annualized ROC % for the quarter that ended in Jun. 2022 was 4.50%. Royal Boskalis Westminster NV's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2022 was 6.55%.

Royal Boskalis Westminster NV Operating Income Historical Data

The historical data trend for Royal Boskalis Westminster NV'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.

Royal Boskalis Westminster NV Operating Income Chart

Royal Boskalis Westminster NV Annual Data

Trend

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Operating Income

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122.55

68.78

38.26

93.04

162.20

Royal Boskalis Westminster NV Semi-Annual Data
	Dec12	Jun13	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22
Operating Income	Get a 7-Day Free Trial															49.70	43.34	75.90	86.30	91.60

Royal Boskalis Westminster NV 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. 2022 adds up the semi-annually data reported by the company within the most recent 12 months, which was €178 Mil.

Royal Boskalis Westminster NV (XAMS:BOKA) Operating Income Explanation

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

Royal Boskalis Westminster NV's annualized ROC % for the quarter that ended in Jun. 2022 is calculated as:

	ROC % (Q: Jun. 2022 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2021 )	+	Invested Capital (Q: Jun. 2022 ))	/ count )
=	183.2 * ( 1 - 13.6% )	/	( (3710.477	+	3322.5)	/ 2 )
=	158.2848	/	3516.4885
=	4.50 %

where

	Invested Capital		(Q: Dec. 2021 )
=	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	))
=	5012.807	-	1430.041	-	( 672.924	-	max(0, 1991.67	-	1863.959	+	672.924	))
=	3710.477

	Invested Capital		(Q: Jun. 2022 )
=	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	))
=	5093.2	-	1951.2	-	( 537.5	-	max(0, 2002.7	-	1822.2	+	537.5	))
=	3322.5

Note: The Operating Income data used here is two times the semi-annual (Jun. 2022) data.

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

Royal Boskalis Westminster NV's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2022 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2022 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2021		Q: Jun. 2022
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	183.2	/	( ( (2749.328 + max(-743.951, 0))	+	(2846.3 + max(-666.5, 0)) )	/	2 )
=	183.2	/	( ( 2749.328	+	2846.3 )	/	2 )
=	183.2	/	2797.814
=	6.55 %

where Working Capital is:

	Working Capital		(Q: Dec. 2021 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(371.534	+	110.56	+	708.941)	-	(1430.041	+	0	+	504.945)
=	-743.951

	Working Capital		(Q: Jun. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	1284.7	+	0)	-	(1951.2	+	0	+	0)
=	-666.5

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2022) EBIT data.

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

Royal Boskalis Westminster NV's Operating Margin % for the quarter that ended in Jun. 2022 is calculated as:

Operating Margin %	=	Operating Income (Q: Jun. 2022 )	/	Revenue (Q: Jun. 2022 )
	=	91.6	/	1610.2
	=	5.69 %

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.

Royal Boskalis Westminster NV Operating Income Related Terms

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

Royal Boskalis Westminster NV (XAMS:BOKA) Business Description

Industry

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Address

Rosmolenweg 20, Papendrecht, NLD, 3356 LK

Website

http://www.boskalis.com

Royal Boskalis Westminster NV offers dredging activities and a broad range of maritime services for the offshore energy sector. In addition, it provides towage, emergency response, and other salvage-related services. Traditionally, the dredging activities remove silt, sand, and other layers from water beds and utilize maneuvers to reuse the materials. Additional revenue is generated from the construction and maintenance of ports and waterways. The company has three business divisions: dredging and inland infra; offshore energy; and towage and salvage (approximately half of total revenue). Customers primarily operate in the energy, port, and shipping end markets. The global company has a material presence in many different regions and is not overly dependent on any one country.

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