Compania Espanola de PetroleosU CEPSA (XMAD:CEP) Operating Income: € Mil (TTM As of . 20)


What is Compania Espanola de PetroleosU CEPSA Operating Income?

Compania Espanola de PetroleosU CEPSA XMAD:CEP Operating Income is € Mil as of . 20.

Compania Espanola de PetroleosU CEPSA's Operating Income for the six months ended in . 20 was €0.00 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Compania Espanola de PetroleosU CEPSA's Operating Income for the six months ended in . 20 was €0.00 Mil. Compania Espanola de PetroleosU CEPSA's Revenue for the six months ended in . 20 was €0.00 Mil. Therefore, Compania Espanola de PetroleosU CEPSA's Operating Margin % for the quarter that ended in . 20 was %.

Compania Espanola de PetroleosU CEPSA'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.

Compania Espanola de PetroleosU CEPSA  (XMAD:CEP) Operating Income Explanation

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

Compania Espanola de PetroleosU CEPSA's annualized ROC % for the quarter that ended in . 20 is calculated as:

ROC % (Q: . 20 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: . 20 ) + Invested Capital (Q: . 20 ))/ count )
= * ( 1 - % )/( ( + )/ )
=/
= %

where

Invested Capital(Q: . 20 )
=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))
= - - ( - max(0, - +))
=

Invested Capital(Q: . 20 )
=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))
= - - ( - max(0, - +))
=

Note: The Operating Income data used here is one times the annual (. 20) data.

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

Compania Espanola de PetroleosU CEPSA's annualized ROC (Joel Greenblatt) % for the quarter that ended in . 20 is calculated as:

ROC (Joel Greenblatt) %(Q: . 20 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: . 20  Q: . 20
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=/( ( ( + max(, 0)) + ( + max(, 0)) )/ )
=/( ( + )/ )
=/
= %

where Working Capital is:

Working Capital(Q: . 20 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=( + + ) - ( + + )
=

Working Capital(Q: . 20 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=( + + ) - ( + + )
=

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (. 20) EBIT data.

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

Compania Espanola de PetroleosU CEPSA's Operating Margin % for the quarter that ended in . 20 is calculated as:

Operating Margin %=Operating Income (Q: . 20 )/Revenue (Q: . 20 )
=/
= %

* 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.

Compania Espanola de PetroleosU CEPSA Operating Income Related Terms

Compania Espanola de PetroleosU CEPSA Operating Income Historical Data

* Premium members only.

The historical data trend for Compania Espanola de PetroleosU CEPSA'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.

Compania Espanola de PetroleosU CEPSA Operating Income Chart

Compania Espanola de PetroleosU CEPSA Annual Data
Trend
Operating Income

Compania Espanola de PetroleosU CEPSA Semi-Annual Data
Operating Income

Compania Espanola de PetroleosU CEPSA 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 . 20 was € 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 € Mil mean?
Compania Espanola de PetroleosU CEPSA (XMAD:CEP) has a Operating Income of € Mil as of . 20. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Compania Espanola de PetroleosU CEPSA and its competitors.
Is Compania Espanola de PetroleosU CEPSA's Operating Income too high?
Compania Espanola de PetroleosU CEPSA's current Operating Income is € Mil.
How does Compania Espanola de PetroleosU CEPSA's Operating Income compare to ?
Compania Espanola de PetroleosU CEPSA's Operating Income of € Mil can be compared against companies in the Oil & Gas 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 an Oil & Gas company?
A good Operating Income depends on the Oil & Gas 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 Compania Espanola de PetroleosU CEPSA and its competitors. Compania Espanola de PetroleosU CEPSA's current Operating Income is € Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Compania Espanola de PetroleosU CEPSA stock overvalued right now?
Compania Espanola de PetroleosU CEPSA (XMAD:CEP) has a current Operating Income of € Mil. The current Operating Income is € 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 Compania Espanola de PetroleosU CEPSA (XMAD:CEP), the current Operating Income is € Mil as of . 20. 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.

Compania Espanola de PetroleosU CEPSA Business Description

Industry EnergyOil & Gas
Comparable Companies
Address Paseo de la Castellana, 259 A., CEPSA Tower, Madrid, ESP, 28046
Compania Espanola de Petroleos SAU CEPSA is an integrated oil and gas company. It operates its business activities in four segments including Exploration and Production segment engages in the exploration and development of oil and gas fields and the production of crude oil and natural gas. Refining segment distills crude oil and transforms it into refined products for sale to market. Marketing segment commercializes and offers petroleum products and non-fuel services through its network of service stations in Spain, Portugal, Andorra and Gibraltar, and to its domestic and international network of agents and distributors. Petrochemicals segment manufactures and markets basic petrochemical products and their derivatives.