ShaPE Capital AG (XSWX:SHPNE) Operating Income : CHF-3.75 Mil (TTM As of Dec. 2014)

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What is ShaPE Capital AG Operating Income?

ShaPE Capital AG's Operating Income for the six months ended in Dec. 2014 was CHF-6.92 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2014 was CHF-3.75 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. ShaPE Capital AG's Operating Income for the six months ended in Dec. 2014 was CHF-6.92 Mil. ShaPE Capital AG's Revenue for the six months ended in Dec. 2014 was CHF-6.52 Mil. Therefore, ShaPE Capital AG's Operating Margin % for the quarter that ended in Dec. 2014 was 106.13%.

ShaPE Capital AG'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. ShaPE Capital AG's annualized ROC % for the quarter that ended in Dec. 2014 was -29.74%. ShaPE Capital AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2014 was %.

ShaPE Capital AG Operating Income Historical Data

The historical data trend for ShaPE Capital AG'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.

ShaPE Capital AG Operating Income Chart

ShaPE Capital AG Annual Data

Trend

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Operating Income

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3.16

8.50

2.85

-3.75

ShaPE Capital AG Semi-Annual Data
	Jun09	Dec09	Jun10	Dec10	Jun11	Dec11	Jun12	Dec12	Jun13	Dec13	Jun14	Dec14
Operating Income	Get a 7-Day Free Trial							0.72	-1.68	4.53	3.17	-6.92

ShaPE Capital AG 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 Dec. 2014 adds up the semi-annually data reported by the company within the most recent 12 months, which was CHF-3.75 Mil.

ShaPE Capital AG (XSWX:SHPNE) Operating Income Explanation

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

ShaPE Capital AG's annualized ROC % for the quarter that ended in Dec. 2014 is calculated as:

	ROC % (Q: Dec. 2014 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2014 )	+	Invested Capital (Q: Dec. 2014 ))	/ count )
=	-13.84 * ( 1 - -0.26% )	/	( (55.185	+	38.135)	/ 2 )
=	-13.875984	/	46.66
=	-29.74 %

where

	Invested Capital		(Q: Jun. 2014 )
=	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	))
=	63.771	-	0.316	-	( 8.523	-	max(0, 0.316	-	8.586	+	8.523	))
=	55.185

	Invested Capital		(Q: Dec. 2014 )
=	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	))
=	54.854	-	0.269	-	( 16.689	-	max(0, 0.269	-	16.719	+	16.689	))
=	38.135

Note: The Operating Income data used here is two times the semi-annual (Dec. 2014) data.

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

ShaPE Capital AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2014 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2014 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2014		Q: Dec. 2014
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-13.84	/	( ( (0 + max(-0.253, 0))	+	(0 + max(-0.239, 0)) )	/	2 )
=	-13.84	/	( ( 0	+	0 )	/	2 )
=	-13.84	/	0
=	%

where Working Capital is:

	Working Capital		(Q: Jun. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.063000000000001)	-	(0.316	+	0	+	0)
=	-0.253

	Working Capital		(Q: Dec. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.030000000000001)	-	(0.269	+	0	+	0)
=	-0.239

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2014) EBIT data.

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

ShaPE Capital AG's Operating Margin % for the quarter that ended in Dec. 2014 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2014 )	/	Revenue (Q: Dec. 2014 )
	=	-6.92	/	-6.52
	=	106.13 %

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.

ShaPE Capital AG Operating Income Related Terms

Thank you for viewing the detailed overview of ShaPE Capital AG's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

ShaPE Capital AG (XSWX:SHPNE) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » ShaPE Capital AG (XSWX:SHPNE) » Definitions » Operating Income

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Website

http://www.shape-capital.com

ShaPE Capital AG is an investment company which provides access to a diversified portfolio of private equity investments. The investment activities of the Company are conducted by the wholly-owned subsidiary shaPE Capital (Cayman) Ltd.

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