Cleo Diagnostics (ASX:COV) Operating Income : A$ Mil (TTM As of Dec. 2023)

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What is Cleo Diagnostics Operating Income?

Cleo Diagnostics's Operating Income for the six months ended in Dec. 2023 was A$-2.78 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Cleo Diagnostics's Operating Income for the six months ended in Dec. 2023 was A$-2.78 Mil. Cleo Diagnostics's Revenue for the six months ended in Dec. 2023 was A$0.00 Mil. Therefore, Cleo Diagnostics's Operating Margin % for the quarter that ended in Dec. 2023 was %.

Cleo Diagnostics'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. Cleo Diagnostics's annualized ROC % for the quarter that ended in Dec. 2023 was -432.66%. Cleo Diagnostics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -14,164.38%.

Cleo Diagnostics Operating Income Historical Data

The historical data trend for Cleo Diagnostics'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.

Cleo Diagnostics Operating Income Chart

Cleo Diagnostics Annual Data

Trend

Jun23

Operating Income

-1.73

Cleo Diagnostics Semi-Annual Data
	Dec22	Jun23	Dec23
Operating Income	-0.42	-1.31	-2.78

Cleo Diagnostics 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 semi-annually data reported by the company within the most recent 12 months, which was A$ Mil.

Cleo Diagnostics (ASX:COV) Operating Income Explanation

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

Cleo Diagnostics'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: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	-5.564 * ( 1 - 0% )	/	( (2.1	+	0.472)	/ 2 )
=	-5.564	/	1.286
=	-432.66 %

where

	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	))
=	1.077	-	0.417	-	( 0.24	-	max(0, 2.02	-	0.58	+	0.24	))
=	2.1

	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	))
=	10.739	-	0.196	-	( 10.108	-	max(0, 0.199	-	10.27	+	10.108	))
=	0.472

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

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

Cleo Diagnostics'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: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-5.17	/	( ( (0.038 + max(-0.08, 0))	+	(0.035 + max(-0.037000000000002, 0)) )	/	2 )
=	-5.17	/	( ( 0.038	+	0.035 )	/	2 )
=	-5.17	/	0.0365
=	-14,164.38 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.032	+	0	+	0.308)	-	(0.417	+	0	+	0.0030000000000001)
=	-0.08

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.162	+	0	+	-1.7763568394003E-15)	-	(0.196	+	0	+	0.003)
=	-0.037000000000002

When net working capital is negative, 0 is used.

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

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

Cleo Diagnostics'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 )
	=	-2.782	/	0
	=	%

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.

Cleo Diagnostics Operating Income Related Terms

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

Cleo Diagnostics (ASX:COV) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Cleo Diagnostics Ltd (ASX:COV) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

480 Collins Street, Level 2, Melbourne, VIC, AUS, 3000

Website

https://www.cleodx.com

Cleo Diagnostics Ltd is focused on the development of non-invasive blood-based IVD tests to detect the presence, and recurrence, of ovarian cancer. The Company's first product to market is intended to be the Triage Test which has to date produced strong results to accurately differentiate patients with malignant ovarian cancer from those with benign gynaecological conditions. The Company aims to improve the diagnostic process and procedures for detecting ovarian cancer and, in this regard, improve quality-of-life outcomes for patients who have been diagnosed with ovarian cancer.

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