Cocoa Processing Co (XGHA:CPC) Operating Income: GHS-90.5 Mil (TTM As of Sep. 2022)

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What is Cocoa Processing Co Operating Income?

Cocoa Processing Co XGHA:CPC Operating Income is GHS-90.5 Mil as of Sep. 2022.

Cocoa Processing Co's Operating Income for the six months ended in Sep. 2022 was GHS-90.5 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2022 was GHS-90.5 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Cocoa Processing Co's Operating Income for the six months ended in Sep. 2022 was GHS-90.5 Mil. Cocoa Processing Co's Revenue for the six months ended in Sep. 2022 was GHS508.3 Mil. Therefore, Cocoa Processing Co's Operating Margin % for the quarter that ended in Sep. 2022 was -17.81%.

Cocoa Processing Co'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. Cocoa Processing Co's annualized ROC % for the quarter that ended in Sep. 2022 was -4.46%. Cocoa Processing Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2022 was -6.11%.


Cocoa Processing Co  (XGHA:CPC) Operating Income Explanation

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

Cocoa Processing Co's annualized ROC % for the quarter that ended in Sep. 2022 is calculated as:

ROC % (Q: Sep. 2022 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2021 ) + Invested Capital (Q: Sep. 2022 ))/ count )
=-90.527 * ( 1 - 6.85% )/( (1877.429 + 1904.799)/ 2 )
=-84.3259005/1891.114
=-4.46 %

where

Invested Capital(Q: Sep. 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))
=1870.323 - 1315.274 - ( 44.352 - max(0, 1789.227 - 466.847+44.352))
=1877.429

Invested Capital(Q: Sep. 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))
=1647.441 - 553.004 - ( 41.115 - max(0, 1122.1 - 311.738+41.115))
=1904.799

Note: The Operating Income data used here is one times the annual (Sep. 2022) data.

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

Cocoa Processing Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2022 is calculated as:

ROC (Joel Greenblatt) %(Q: Sep. 2022 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2021  Q: Sep. 2022
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-83.702/( ( (1403.475 + max(-892.779, 0)) + (1335.714 + max(-282.369, 0)) )/ 2 )
=-83.702/( ( 1403.475 + 1335.714 )/ 2 )
=-83.702/1369.5945
=-6.11 %

where Working Capital is:

Working Capital(Q: Sep. 2021 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(104.131 + 313.07 + 5.294) - (1315.274 + 0 + 2.2737367544323E-13)
=-892.779

Working Capital(Q: Sep. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(57.663 + 206.555 + 6.405) - (553.004 + 0 + -0.012000000000171)
=-282.369

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (Sep. 2022) EBIT data.

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

Cocoa Processing Co's Operating Margin % for the quarter that ended in Sep. 2022 is calculated as:

Operating Margin %=Operating Income (Q: Sep. 2022 )/Revenue (Q: Sep. 2022 )
=-90.527/508.266
=-17.81 %

* 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.


Cocoa Processing Co Operating Income Related Terms


Cocoa Processing Co Operating Income Historical Data

* Premium members only.

The historical data trend for Cocoa Processing Co'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.

Cocoa Processing Co Operating Income Chart

Cocoa Processing Co Annual Data
Trend Sep10 Sep11 Sep12 Sep13 Sep14 Sep21 Sep22
Operating Income
Get a 7-Day Free Trial -42.32 -47.09 -43.64 -110.19 -90.53

Cocoa Processing Co Semi-Annual Data
Sep10 Sep11 Sep12 Sep13 Sep14 Sep21 Sep22
Operating Income Get a 7-Day Free Trial -42.32 -47.09 -43.64 -110.19 -90.53

Cocoa Processing Co 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. Operating Income for the trailing twelve months (TTM) ended in Sep. 2022 was GHS-90.5 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.

Frequently Asked Questions Learn more about Operating Income →
What does a Operating Income of GHS-90.5 Mil mean?
Cocoa Processing Co (XGHA:CPC) has a Operating Income of GHS-90.5 Mil as of Sep. 2022. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Cocoa Processing Co and its competitors.
Is Cocoa Processing Co's Operating Income too high?
Cocoa Processing Co's current Operating Income is GHS-90.5 Mil.
How does Cocoa Processing Co's Operating Income compare to MDLZ and HSY?
Cocoa Processing Co's Operating Income of GHS-90.5 Mil can be compared against companies in the Consumer Packaged Goods industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Income for a Consumer Packaged Goods company?
A good Operating Income depends on the Consumer Packaged Goods industry context. However, Operating Income should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Cocoa Processing Co and its competitors. Cocoa Processing Co's current Operating Income is GHS-90.5 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Cocoa Processing Co stock overvalued right now?
Cocoa Processing Co (XGHA:CPC) has a current Operating Income of GHS-90.5 Mil. The current Operating Income is GHS-90.5 Mil. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Cocoa Processing Co (XGHA:CPC), the current Operating Income is GHS-90.5 Mil as of Sep. 2022. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Cocoa Processing Co Business Description

Address Heavy Industrial Area, Private Mail Bag, Tema, GHA
Cocoa Processing Co Ltd manufactures chocolates, confectionery and semi-finished cocoa products such as cocoa butter, cocoa liquor, cocoa cake and cocoa powder from premium cocoa beans grown in Ghana.