Rothschild SCA (CHIX:ROTHP) Operating Income : €445 Mil (TTM As of Jun. 2023)

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What is Rothschild SCA Operating Income?

Rothschild SCA's Operating Income for the six months ended in Jun. 2023 was €97 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2023 was €445 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Rothschild SCA's Operating Income for the six months ended in Jun. 2023 was €97 Mil. Rothschild SCA's Revenue for the six months ended in Jun. 2023 was €1,247 Mil. Therefore, Rothschild SCA's Operating Margin % for the quarter that ended in Jun. 2023 was 7.76%.

Good Sign:

Rothschild & Co SCA operating margin is expanding. Margin expansion is usually a good sign.

Rothschild SCA's 5-Year average Growth Rate for Operating Margin % was 3.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Rothschild SCA's annualized ROC % for the quarter that ended in Jun. 2023 was 1.16%. Rothschild SCA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2023 was 109.01%.

Rothschild SCA Operating Income Historical Data

The historical data trend for Rothschild SCA'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.

Rothschild SCA Operating Income Chart

Rothschild SCA Annual Data

Trend

Mar13

Mar14

Mar15

Mar16

Mar17

Dec18

Dec19

Dec20

Dec21

Dec22

Operating Income

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465.07

249.69

276.37

782.21

613.43

Rothschild SCA Semi-Annual Data
	Sep13	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23
Operating Income	Get a 7-Day Free Trial															295.02	487.20	265.40	348.03	96.70

Rothschild SCA 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 Jun. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was €445 Mil.

Rothschild SCA (CHIX:ROTHp) Operating Income Explanation

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

Rothschild SCA's annualized ROC % for the quarter that ended in Jun. 2023 is calculated as:

	ROC % (Q: Jun. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2022 )	+	Invested Capital (Q: Jun. 2023 ))	/ count )
=	193.396 * ( 1 - 20.67% )	/	( (14619.995	+	11924.442)	/ 2 )
=	153.4210468	/	13272.2185
=	1.16 %

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	))
=	17376.513	-	234.83	-	( 2521.688	-	max(0, 1297.316	-	8139.936	+	2521.688	))
=	14619.995

	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	))
=	17834.746	-	834.28	-	( 5076.024	-	max(0, 1478.799	-	12611.986	+	5076.024	))
=	11924.442

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

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

Rothschild SCA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2022		Q: Jun. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	504.618	/	( ( (466.994 + max(-966.923, 0))	+	(458.823 + max(-1111.992, 0)) )	/	2 )
=	504.618	/	( ( 466.994	+	458.823 )	/	2 )
=	504.618	/	462.9085
=	109.01 %

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)
=	(249.655	+	0	+	78.245)	-	(234.83	+	0	+	1059.993)
=	-966.923

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(249.864	+	0	+	116.943)	-	(834.28	+	0	+	644.519)
=	-1111.992

When net working capital is negative, 0 is used.

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

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

Rothschild SCA's Operating Margin % for the quarter that ended in Jun. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: Jun. 2023 )	/	Revenue (Q: Jun. 2023 )
	=	96.698	/	1246.557
	=	7.76 %

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.

Rothschild SCA Operating Income Related Terms

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Rothschild SCA (CHIX:ROTHP) Business Description

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GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Rothschild & Co SCA (CHIX:ROTHp) » Definitions » Operating Income

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Address

23 bis, Avenue de Messine, Paris, FRA, 75008

Website

https://www.rothschildandco.com

Rothschild & Co SCA is a financial advisory group that provides merger and acquisition, strategy and financing advice, as well as investment and wealth management solutions to large institutions, families, individuals, and governments globally. The company operates through three divisions: Rothschild Global Advisory, which offers merger and acquisition, strategy, and financing solutions to clients; Rothschild Private Wealth & Rothschild Asset Management, which provides investing, structuring, and safeguarding solutions; and Rothschild Merchant Banking, which is engaged in corporate private equity, managed funds, direct lending, and credit management. Its geographical segments are France, United Kingdom & Channel Islands, Americas, Rest of Europe, Switzerland, Australia & Asia, and others.

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