CEN Biotech (CEN Biotech) Operating Income : $-1.49 Mil (TTM As of Mar. 2023)

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What is CEN Biotech Operating Income?

CEN Biotech's Operating Income for the three months ended in Mar. 2023 was $-0.38 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2023 was $-1.49 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. CEN Biotech's Operating Income for the three months ended in Mar. 2023 was $-0.38 Mil. CEN Biotech's Revenue for the three months ended in Mar. 2023 was $0.09 Mil. Therefore, CEN Biotech's Operating Margin % for the quarter that ended in Mar. 2023 was -408.51%.

CEN Biotech'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. CEN Biotech's annualized ROC % for the quarter that ended in Mar. 2023 was -12.36%. CEN Biotech's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2023 was -1,071.59%.

CEN Biotech Operating Income Historical Data

The historical data trend for CEN Biotech'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.

CEN Biotech Operating Income Chart

CEN Biotech Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Operating Income

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-3.10

-2.58

-2.21

-17.71

-1.27

CEN Biotech Quarterly Data
	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23
Operating Income	Get a 7-Day Free Trial															-0.14	-0.30	-0.49	-0.32	-0.38

CEN Biotech 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 Mar. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-1.49 Mil.

CEN Biotech (OTCPK:CENBF) Operating Income Explanation

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

CEN Biotech's annualized ROC % for the quarter that ended in Mar. 2023 is calculated as:

	ROC % (Q: Mar. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2022 )	+	Invested Capital (Q: Mar. 2023 ))	/ count )
=	-1.536 * ( 1 - 0% )	/	( (12.656	+	12.199)	/ 2 )
=	-1.536	/	12.4275
=	-12.36 %

where

	Invested Capital		(Q: Dec. 2022 )
=	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	))
=	7.859	-	4.923	-	( 0.084	-	max(0, 9.974	-	0.254	+	0.084	))
=	12.656

	Invested Capital		(Q: Mar. 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	))
=	7.447	-	4.936	-	( 0.136	-	max(0, 9.987	-	0.299	+	0.136	))
=	12.199

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

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

CEN Biotech's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2022		Q: Mar. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-1.452	/	( ( (0.145 + max(-4.788, 0))	+	(0.126 + max(-4.807, 0)) )	/	2 )
=	-1.452	/	( ( 0.145	+	0.126 )	/	2 )
=	-1.452	/	0.1355
=	-1,071.59 %

where Working Capital is:

	Working Capital		(Q: Dec. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.109	+	0	+	0.026)	-	(4.923	+	0	+	0)
=	-4.788

	Working Capital		(Q: Mar. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.102	+	0	+	0.026)	-	(4.936	+	0	+	-0.00099999999999945)
=	-4.807

When net working capital is negative, 0 is used.

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

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

CEN Biotech's Operating Margin % for the quarter that ended in Mar. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2023 )	/	Revenue (Q: Mar. 2023 )
	=	-0.384	/	0.094
	=	-408.51 %

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.

CEN Biotech Operating Income Related Terms

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

CEN Biotech (CEN Biotech) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » CEN Biotech Inc (OTCPK:CENBF) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

3295 Quality Way, Suite 300, Windsor, ON, CAN, N8T 3R9

Website

CEN Biotech Inc is an early-stage Canadian biopharmaceutical company. The Company grows, sells, and delivers pharmaceutical-grade medical marijuana to patients.

Executives

Lawrence Lehoux	director, officer: Chief Technology Officer	11879 SOLOMAN ST, WINDSOR A6 N8P 1P1
Jeffery Allen Thomas	director	23772 WEST ROAD #152, BROWNSTOWN TOWNSHIP MI 48183
Rick Leigh Purdy	director	9 ELAINE STREET, ST. ALBERT A0 T8N7R6
Usamakh Saadikh	director	3 DRUDBGY NARODOV SQUARE, KYIV 2H 04210
Joseph A. Byrne	director, officer: Chief Executive Officer	6 CAMERON SIDE ROAD EAST, ESSEX A6 N8M 2X5
Alex Tarrabain	director	18908 89 AVENUE, EDMONTON A0 T5T 6B7
Donald Strilchuck	director	352 RIDEAU PL, TECUMSEH A6 N8N 3N9
Richard Boswell	director, 10 percent owner, officer: CFO Senior Executive VP	2408 EASTERN AVE., ROCHESTER HILLS MI 48307
Ameen Ferris	director	30 AYRSHIRE COURT, BRAMPTON A6 L6Z 0G6
Brian Payne	director, officer: Vice President	1027 HUNTINGTON BLVD, BELLE RIVER A6 N0R 1A0
Aubrey De Lavenu Harold Andre	director	APT 627 VALE DO LOBO, ALMANCIL S1 8135-034
Bahige B. Chaaban	director, 10 percent owner, officer: Chief Executive Officer	888 OLD TECUMSAH RD., BELLE RIVER A6 N0R 1A0

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