BASSAC (XPAR:BASS) Operating Income: €148 Mil (TTM As of Jun. 2023)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

XPAR:BASS BASSAC XPAR:BASS
8 GF Score
Price €44.20
View Full Analysis

What is BASSAC Operating Income?

BASSAC XPAR:BASS -0.23% 8 Operating Income is €148 Mil as of Jun. 2023. GuruFocus rates XPAR:BASS with a GF Score™ of 8/100.

BASSAC's Operating Income for the six months ended in Jun. 2023 was €45 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2023 was €148 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. BASSAC's Operating Income for the six months ended in Jun. 2023 was €45 Mil. BASSAC's Revenue for the six months ended in Jun. 2023 was €571 Mil. Therefore, BASSAC's Operating Margin % for the quarter that ended in Jun. 2023 was 7.95%.

BASSAC'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. BASSAC's annualized ROC % for the quarter that ended in Jun. 2023 was 4.91%. BASSAC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2023 was 14.73%.

BASSAC  (XPAR:BASS) Operating Income Explanation

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

BASSAC's annualized ROC % for the quarter that ended in Jun. 2023 is calculated as:

ROC % (Q: Jun. 2023 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2022 ) + Invested Capital (Q: Jun. 2023 ))/ count )
=90.722 * ( 1 - 28.24% )/( (1299.041 + 1354.267)/ 2 )
=65.1021072/1326.654
=4.91 %

where

Invested Capital(Q: Dec. 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))
=2118.26 - 354.737 - ( 464.482 - max(0, 884.483 - 1740.381+464.482))
=1299.041

Invested Capital(Q: Jun. 2023 )
=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))
=2211.63 - 418.231 - ( 439.132 - max(0, 971.47 - 1838.585+439.132))
=1354.267

Note: The Operating Income data used here is two times the semi-annual (Jun. 2023) data.

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

BASSAC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2023 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2023 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2022  Q: Jun. 2023
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=111.274/( ( (41.28 + max(674.612, 0)) + (58.849 + max(735.745, 0)) )/ 2 )
=111.274/( ( 715.892 + 794.594 )/ 2 )
=111.274/755.243
=14.73 %

where Working Capital is:

Working Capital(Q: Dec. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(176.148 + 982.273 + 62.803) - (354.737 + 0 + 191.875)
=674.612

Working Capital(Q: Jun. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(219.06 + 1080.329 + 48.886) - (418.231 + 0 + 194.299)
=735.745

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2023) EBIT data.

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

BASSAC's Operating Margin % for the quarter that ended in Jun. 2023 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2023 )/Revenue (Q: Jun. 2023 )
=45.361/570.59
=7.95 %

* 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.

BASSAC Operating Income Related Terms

BASSAC Operating Income Historical Data

* Premium members only.

The historical data trend for BASSAC'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.

BASSAC Operating Income Chart

BASSAC Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 152.70 145.82 145.54 163.02 152.50

BASSAC Semi-Annual Data
Dec13 Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 58.51 104.51 49.88 102.63 45.36
XPAR:BASS
8GF Score
BASSAC XPAR:BASS
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

BASSAC 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. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was €148 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 €148 Mil mean?
BASSAC (XPAR:BASS) has a Operating Income of €148 Mil as of Jun. 2023. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on BASSAC and its competitors.
Is BASSAC's Operating Income too high?
BASSAC's current Operating Income is €148 Mil. Overall, BASSAC has a GF Score™ of 8/100, reflecting its overall financial health beyond just this single metric.
How does BASSAC's Operating Income compare to competitors?
BASSAC's Operating Income of €148 Mil can be compared against companies in the Real Estate 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 Real Estate company?
A good Operating Income depends on the Real Estate 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 BASSAC and its competitors. BASSAC's current Operating Income is €148 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is BASSAC stock overvalued right now?
BASSAC (XPAR:BASS) has a current Operating Income of €148 Mil. The current Operating Income is €148 Mil. BASSAC's overall GF Score™ is 8/100. 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 BASSAC (XPAR:BASS), the current Operating Income is €148 Mil as of Jun. 2023. 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.

BASSAC Business Description

Address 50 Route de la Reine, Boulogne-Billancourt, Paris, FRA, 92100
BASSAC is engaged in real estate development in France as well as in Germany and Spain. It offers the promotion of new housing and offices. The company operates in France, Poland, Germany, Spain and other countries.
8GF Score

Get the complete analysis for XPAR:BASS

Operating Income is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€44.20
Price