Industrial Capital Holding AD (XBUL:HIKA) Operating Income : лв28.1 Mil (TTM As of Sep. 2024)

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What is Industrial Capital Holding AD Operating Income?

Industrial Capital Holding AD's Operating Income for the three months ended in Sep. 2024 was лв13.1 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2024 was лв28.1 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Industrial Capital Holding AD's Operating Income for the three months ended in Sep. 2024 was лв13.1 Mil. Industrial Capital Holding AD's Revenue for the three months ended in Sep. 2024 was лв77.4 Mil. Therefore, Industrial Capital Holding AD's Operating Margin % for the quarter that ended in Sep. 2024 was 16.94%.

Good Sign:

Industrial Capital Holding AD operating margin is expanding. Margin expansion is usually a good sign.

Industrial Capital Holding AD's 5-Year average Growth Rate for Operating Margin % was 6.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Industrial Capital Holding AD's annualized ROC % for the quarter that ended in Sep. 2024 was 22.92%. Industrial Capital Holding AD's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2024 was 9.65%.

Industrial Capital Holding AD Operating Income Historical Data

The historical data trend for Industrial Capital Holding AD'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.

Industrial Capital Holding AD Operating Income Chart

Industrial Capital Holding AD Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Operating Income

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20.72

18.26

21.62

29.39

50.00

Industrial Capital Holding AD Quarterly Data
	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Mar24	Jun24	Sep24
Operating Income	Get a 7-Day Free Trial															14.77	13.46	8.52	6.48	13.11

Industrial Capital Holding AD 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 лв28.1 Mil.

Industrial Capital Holding AD (XBUL:HIKA) Operating Income Explanation

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

Industrial Capital Holding AD'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 )
=	52.432 * ( 1 - 14.4% )	/	( (193.062	+	198.523)	/ 2 )
=	44.881792	/	195.7925
=	22.92 %

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	))
=	276.634	-	31.198	-	( 52.374	-	max(0, 47.47	-	172.817	+	52.374	))
=	193.062

	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	))
=	261.927	-	15.156	-	( 48.248	-	max(0, 32.279	-	159.222	+	48.248	))
=	198.523

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

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

Industrial Capital Holding AD'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 )
=	15.088	/	( ( (80.935 + max(72.571, 0))	+	(81.067 + max(78.005, 0)) )	/	2 )
=	15.088	/	( ( 153.506	+	159.072 )	/	2 )
=	15.088	/	156.289
=	9.65 %

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)
=	(55.532	+	51.132	+	12.145)	-	(31.198	+	0	+	15.04)
=	72.571

	Working Capital		(Q: Sep. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(49.339	+	49.855	+	10.623)	-	(15.156	+	0	+	16.656)
=	78.005

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 %:

Industrial Capital Holding AD'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 )
	=	13.108	/	77.401
	=	16.94 %

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.

Industrial Capital Holding AD Operating Income Related Terms

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Industrial Capital Holding AD Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Industrial Capital Holding AD (XBUL:HIKA) » Definitions » Operating Income

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Traded in Other Exchanges

N/A

Address

8, Bacho Kiro str, Sofia, BGR, 1000

Website

http://www.hika-bg.com

Industrial Capital Holding AD is a Bulgaria-based holding company engaged in the evaluation, acquisition, management, and sale of shares in Bulgarian and foreign companies.

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