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Iliad (XPAR:ILD) Operating Income : €1,027 Mil (TTM As of Jun. 2022)


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What is Iliad Operating Income?

Iliad's Operating Income for the six months ended in Jun. 2022 was €461 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2022 was €1,027 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Iliad's Operating Income for the six months ended in Jun. 2022 was €461 Mil. Iliad's Revenue for the six months ended in Jun. 2022 was €4,024 Mil. Therefore, Iliad's Operating Margin % for the quarter that ended in Jun. 2022 was 11.46%.

Warning Sign:

Iliad SA operating margin has been in 5-year decline. The average rate of decline per year is -18.8%.

Iliad's 5-Year average Growth Rate for Operating Margin % was -18.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Iliad's annualized ROC % for the quarter that ended in Jun. 2022 was 3.27%. Iliad's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2022 was 16.18%.


Iliad Operating Income Historical Data

The historical data trend for Iliad'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.

Iliad Operating Income Chart

Iliad Annual Data
Trend Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 905.00 709.00 215.00 546.00 916.00

Iliad Semi-Annual Data
Dec12 Jun13 Dec13 Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22
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 449.00 97.00 350.00 566.00 461.00

Iliad 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. 2022 adds up the semi-annually data reported by the company within the most recent 12 months, which was €1,027 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.


Iliad  (XPAR:ILD) Operating Income Explanation

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

Iliad's annualized ROC % for the quarter that ended in Jun. 2022 is calculated as:

ROC % (Q: Jun. 2022 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2021 ) + Invested Capital (Q: Jun. 2022 ))/ count )
=922 * ( 1 - 17.99% )/( (22007 + 24272)/ 2 )
=756.1322/23139.5
=3.27 %

where

Note: The Operating Income data used here is two times the semi-annual (Jun. 2022) data.

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

Iliad's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2022 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2022 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2021  Q: Jun. 2022
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1914/( ( (11566 + max(-541, 0)) + (12086 + max(-833, 0)) )/ 2 )
=1914/( ( 11566 + 12086 )/ 2 )
=1914/11826
=16.18 %

where Working Capital is:

Working Capital(Q: Dec. 2021 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1005 + 65 + 2147) - (3463 + 0 + 295)
=-541

Working Capital(Q: Jun. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1089 + 237 + 1451) - (3549 + 0 + 61)
=-833

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2022) EBIT data.

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

Iliad's Operating Margin % for the quarter that ended in Jun. 2022 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2022 )/Revenue (Q: Jun. 2022 )
=461/4024
=11.46 %

* 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.


Iliad Operating Income Related Terms

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Iliad (XPAR:ILD) Business Description

Traded in Other Exchanges
N/A
Address
16 rue de la Ville l Eveque, Paris, FRA, 75008
Iliad was founded in the 1990s as a broadband Internet provider. After several years operating just in the fixed business, it entered France's mobile market in 2012 after regulators determined France needed a fourth mobile network operator, or MNO. Regulators favored the entrance of Iliad in the French market, as the company was allowed to acquire spectrum at a reduced price and could rely on Orange 3G Network for many years. After disrupting the French mobile market, Iliad has expanded to Italy, where it entered in 2018, and to Poland through the acquisition of MNO Play in November 2020.

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