SJW Group (SJW Group) Operating Income : $149.4 Mil (TTM As of Dec. 2023)

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What is SJW Group Operating Income?

SJW Group's Operating Income for the three months ended in Dec. 2023 was $36.5 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $149.4 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. SJW Group's Operating Income for the three months ended in Dec. 2023 was $36.5 Mil. SJW Group's Revenue for the three months ended in Dec. 2023 was $171.3 Mil. Therefore, SJW Group's Operating Margin % for the quarter that ended in Dec. 2023 was 21.30%.

Good Sign:

SJW Group operating margin is expanding. Margin expansion is usually a good sign.

SJW Group's 5-Year average Growth Rate for Operating Margin % was 0.30% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. SJW Group's annualized ROC % for the quarter that ended in Dec. 2023 was 3.25%. SJW Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 5.17%.

SJW Group Operating Income Historical Data

The historical data trend for SJW Group'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.

SJW Group Operating Income Chart

SJW Group Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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73.25

117.67

105.88

124.78

149.44

SJW Group Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Operating Income	Get a 7-Day Free Trial															49.72	25.18	31.16	56.61	36.49

SJW Group 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. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $149.4 Mil.

SJW Group (NYSE:SJW) Operating Income Explanation

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

SJW Group's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	145.972 * ( 1 - 8.8% )	/	( (3811.439	+	4391.007)	/ 2 )
=	133.126464	/	4101.223
=	3.25 %

where

	Invested Capital		(Q: Sep. 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	))
=	3843.428	-	111.334	-	( 21.067	-	max(0, 308.116	-	228.771	+	21.067	))
=	3811.439

	Invested Capital		(Q: Dec. 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	))
=	4345.067	-	98.645	-	( 9.723	-	max(0, 342.974	-	198.389	+	9.723	))
=	4391.007

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

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

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

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	152.036	/	( ( (2729.004 + max(4.851, 0))	+	(3134.708 + max(7.753, 0)) )	/	2 )
=	152.036	/	( ( 2733.855	+	3142.461 )	/	2 )
=	152.036	/	2938.158
=	5.17 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(70.374	+	0	+	70.696)	-	(111.334	+	0	+	24.885)
=	4.851

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(67.87	+	0	+	62.382)	-	(98.645	+	0	+	23.854)
=	7.753

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

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

SJW Group's Operating Margin % for the quarter that ended in Dec. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	36.493	/	171.338
	=	21.30 %

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.

SJW Group Operating Income Related Terms

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SJW Group (SJW Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » SJW Group (NYSE:SJW) » Definitions » Operating Income

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76W:Germany

Address

110 West Taylor Street, San Jose, CA, USA, 95110

Website

https://www.sjwgroup.com

SJW Group is a U.S. water utility services holding company that provides, stores, purifies and distributes water. The company primarily operates in various California municipalities and also has operations in other states. Its operating segments include Water Utility Services and Real Estate Services. The majority of the company's revenue is derived from its water utility services segment.

Executives

Denise L Kruger	director
Carl Guardino	director	110 W. TAYLOR STREET, SAN JOSE CA 95110
Craig J Patla	officer: President of CTWS	CONNECTICUT WATER COMPANY, 93 WEST MAIN STREET, CLINTON CT 06413
Mohammed G. Zerhouni	officer: SVP of Fin., Prin. Acct. Ofcr.	110 W. TAYLOR STREET, SAN JOSE CA 95110
Andrew Gere	officer: President and COO	1221 SOUTH BASCOM AVENUE, SAN JOSE CA 95128
James Patrick Lynch	officer: CFO/Treasurer	1675 LAURELWOOD DRIVE, SAN JOSE CA 95125
Bruce A Hauk	officer: Chf. Crp. Dev. & Str. Offcr.	110 W. TAYLOR STREET, SAN JOSE CA 95110
Rebecca A Klein	director	1411 E MISSION AVE, SPOKANE WA 99202
Katharine Armstrong	director	919 CONGRESS AVENUE #1400, AUSTIN TX 78701
Brown Willie D. Jr.	officer: VP, Gen Counsel, & Corp Sec	110 W. TAYLOR STREET, SAN JOSE CA 95110
Wendy Avila-walker	officer: VP of Finance, Controller	110 W. TAYLOR STREET, SAN JOSE CA 95110
Andrew F Walters	officer: Chief Administrative Officer	8 RIVER TERRACE, APT 8-T, NEW YORK NY 10282
Daniel B. More	director	56 W BROTHER DRIVE, GREENWICH CT 06830
Douglas R King	director	465 EL CENTRO ROAD, HILLSBOROUGH CA 94010
Mary Ann Hanley	director	93 WEST MAIN STREET, CLINTON CT 06413