International Meal Co Alimentacao (BSP:MEAL3) Operating Income : R$60 Mil (TTM As of Dec. 2023)

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What is International Meal Co Alimentacao Operating Income?

International Meal Co Alimentacao's Operating Income for the three months ended in Dec. 2023 was R$-24 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was R$60 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. International Meal Co Alimentacao's Operating Income for the three months ended in Dec. 2023 was R$-24 Mil. International Meal Co Alimentacao's Revenue for the three months ended in Dec. 2023 was R$513 Mil. Therefore, International Meal Co Alimentacao's Operating Margin % for the quarter that ended in Dec. 2023 was -4.69%.

International Meal Co Alimentacao'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. International Meal Co Alimentacao's annualized ROC % for the quarter that ended in Dec. 2023 was -6.81%. International Meal Co Alimentacao's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 1.13%.

International Meal Co Alimentacao Operating Income Historical Data

The historical data trend for International Meal Co Alimentacao'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.

International Meal Co Alimentacao Operating Income Chart

International Meal Co Alimentacao Annual Data

Trend

Dec14

Dec15

Dec16

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Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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43.51

-202.18

-25.60

26.73

30.56

International Meal Co Alimentacao 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															8.68	-8.80	29.70	63.55	-24.03

International Meal Co Alimentacao 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 R$60 Mil.

International Meal Co Alimentacao (BSP:MEAL3) Operating Income Explanation

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

International Meal Co Alimentacao'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 )
=	-96.12 * ( 1 - -84.42% )	/	( (2677.028	+	2530.947)	/ 2 )
=	-177.264504	/	2603.9875
=	-6.81 %

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	))
=	2757.444	-	171.582	-	( 186.916	-	max(0, 570.478	-	479.312	+	186.916	))
=	2677.028

	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	))
=	2740	-	251.814	-	( 234.109	-	max(0, 547.024	-	504.263	+	234.109	))
=	2530.947

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

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

International Meal Co Alimentacao'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 )
=	12.552	/	( ( (1103.99 + max(-27.826, 0))	+	(1120.607 + max(-102.48, 0)) )	/	2 )
=	12.552	/	( ( 1103.99	+	1120.607 )	/	2 )
=	12.552	/	1112.2985
=	1.13 %

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)
=	(93.032	+	50.178	+	146.93)	-	(171.582	+	0	+	146.384)
=	-27.826

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(105.351	+	52.765	+	109.704)	-	(251.814	+	0	+	118.486)
=	-102.48

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 %:

International Meal Co Alimentacao'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 )
	=	-24.03	/	512.691
	=	-4.69 %

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.

International Meal Co Alimentacao Operating Income Related Terms

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International Meal Co Alimentacao (BSP:MEAL3) Business Description

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GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Restaurants » International Meal Co Alimentacao SA (BSP:MEAL3) » Definitions » Operating Income

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Address

Avenida das Nacoes Unidas, 4.777, 12th Floor, Jardim Universidade Pinheiros, Sao Paulo, SP, BRA, 5477902

Website

http://ri.internationalmealcompany.com

International Meal Co Alimentacao SA is a Brazil-based company principally engaged in the sale of food and beverages to restaurants, snack bars, coffee shops, cafes on motorways, airports, shopping malls, and airline catering services. It also subleases stores and spaces for promotional and commercial purposes in its store chain, upon the sale of fuel, and provides general services related to these segments. The company operates in five segments: Shopping malls, Airports, Highways, the United States of America (USA), and Others. Some of its brands are Viena, Olive Garden, Margaritaville, KFC Brazil, and Pizza Hut Brazil. Its geographical segments are Brazil, The Caribbean, and the USA.

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