CMB.Tech NV (XBRU:CMBT) Operating Income : €370.7 Mil (TTM As of Sep. 2024)

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What is CMB.Tech NV Operating Income?

CMB.Tech NV's Operating Income for the three months ended in Sep. 2024 was €68.3 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2024 was €370.7 Mil.

Warning Sign:

CMB.Tech NV has recorded a loss in operating income at least once over the past 3 years.

Operating Margin % is calculated as Operating Income divided by its Revenue. CMB.Tech NV's Operating Income for the three months ended in Sep. 2024 was €68.3 Mil. CMB.Tech NV's Revenue for the three months ended in Sep. 2024 was €199.9 Mil. Therefore, CMB.Tech NV's Operating Margin % for the quarter that ended in Sep. 2024 was 34.15%.

CMB.Tech NV'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. CMB.Tech NV's annualized ROC % for the quarter that ended in Sep. 2024 was 8.57%. CMB.Tech NV's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2024 was 19.61%.

CMB.Tech NV Operating Income Historical Data

The historical data trend for CMB.Tech 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.

CMB.Tech NV Operating Income Chart

CMB.Tech NV Annual Data

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Operating Income

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162.72

420.53

-262.53

187.35

547.68

CMB.Tech NV 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															113.47	94.46	94.19	113.77	68.27

CMB.Tech 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 Sep. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was €370.7 Mil.

CMB.Tech NV (XBRU:CMBT) Operating Income Explanation

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

CMB.Tech NV's annualized ROC % for the quarter that ended in Sep. 2024 is calculated as:

	ROC % (Q: Sep. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2024 )	+	Invested Capital (Q: Sep. 2024 ))	/ count )
=	273.064 * ( 1 - 1.25% )	/	( (3179.976	+	3112.441)	/ 2 )
=	269.6507	/	3146.2085
=	8.57 %

where

	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	))
=	3466.702	-	73.232	-	( 319.482	-	max(0, 570.436	-	783.93	+	319.482	))
=	3179.976

	Invested Capital		(Q: Sep. 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	))
=	3265.391	-	109.902	-	( 43.048	-	max(0, 370.916	-	478.052	+	43.048	))
=	3112.441

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

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

CMB.Tech NV's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2024		Q: Sep. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	574.196	/	( ( (2543.991 + max(349.726, 0))	+	(2641.666 + max(320.915, 0)) )	/	2 )
=	574.196	/	( ( 2893.717	+	2962.581 )	/	2 )
=	574.196	/	2928.149
=	19.61 %

where Working Capital is:

	Working Capital		(Q: Jun. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(208.996	+	30.459	+	204.694)	-	(73.232	+	20.903	+	0.28800000000001)
=	349.726

	Working Capital		(Q: Sep. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(248.934	+	27.155	+	155.047)	-	(109.902	+	0	+	0.31900000000002)
=	320.915

When net working capital is negative, 0 is used.

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

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

CMB.Tech NV's Operating Margin % for the quarter that ended in Sep. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Sep. 2024 )	/	Revenue (Q: Sep. 2024 )
	=	68.266	/	199.878
	=	34.15 %

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.

CMB.Tech NV Operating Income Related Terms

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CMB.Tech NV Business Description

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CMBT:USA 0K9A:UK OCW:Germany

Address

De Gerlachekaai 20, Antwerpen, BEL, 2000

Website

https://www.cmb.tech

CMB.Tech NV owns and operates a fleet of vessels for international maritime shipping and storage of crude oil and petroleum products. It generate a large parts of their revenue from voyage charters, including vessels in pools that predominantly perform voyage charters. The company organises itself into two segments: tankers and floating storage and offloading activities, or FSO. The tankers segment, which generates the majority of revenue, operates crude oil tankers on international markets. The FSO segment conducts floating production, floating storage, and offloading operations for crude oil and petroleum products.