SciClone Pharmaceuticals (Holdings) (HKSE:06600) Operating Income : HK$1,375 Mil (TTM As of Dec. 2023)

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What is SciClone Pharmaceuticals (Holdings) Operating Income?

SciClone Pharmaceuticals (Holdings)'s Operating Income for the six months ended in Dec. 2023 was HK$553 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was HK$1,375 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. SciClone Pharmaceuticals (Holdings)'s Operating Income for the six months ended in Dec. 2023 was HK$553 Mil. SciClone Pharmaceuticals (Holdings)'s Revenue for the six months ended in Dec. 2023 was HK$1,698 Mil. Therefore, SciClone Pharmaceuticals (Holdings)'s Operating Margin % for the quarter that ended in Dec. 2023 was 32.56%.

Good Sign:

SciClone Pharmaceuticals (Holdings) Ltd operating margin is expanding. Margin expansion is usually a good sign.

SciClone Pharmaceuticals (Holdings)'s 5-Year average Growth Rate for Operating Margin % was 1.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. SciClone Pharmaceuticals (Holdings)'s annualized ROC % for the quarter that ended in Dec. 2023 was 78.02%. SciClone Pharmaceuticals (Holdings)'s annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 178.40%.

SciClone Pharmaceuticals (Holdings) Operating Income Historical Data

The historical data trend for SciClone Pharmaceuticals (Holdings)'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.

SciClone Pharmaceuticals (Holdings) Operating Income Chart

SciClone Pharmaceuticals (Holdings) Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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729.20

895.07

1,272.21

1,235.08

1,375.09

SciClone Pharmaceuticals (Holdings) Semi-Annual Data
	Dec17	Dec18	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Operating Income	Get a 7-Day Free Trial						429.01	840.02	434.83	822.20	552.88

SciClone Pharmaceuticals (Holdings) 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 HK$1,375 Mil.

SciClone Pharmaceuticals (Holdings) (HKSE:06600) Operating Income Explanation

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

SciClone Pharmaceuticals (Holdings)'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 )
=	1105.768 * ( 1 - 5.29% )	/	( (1490.453	+	1194.166)	/ 2 )
=	1047.2728728	/	1342.3095
=	78.02 %

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	))
=	4571.031	-	515.819	-	( 2564.759	-	max(0, 1002.936	-	3808.431	+	2564.759	))
=	1490.453

	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	))
=	4375.389	-	749.435	-	( 2431.788	-	max(0, 763.725	-	3770.373	+	2431.788	))
=	1194.166

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:

SciClone Pharmaceuticals (Holdings)'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 )
=	1197.402	/	( ( (23.671 + max(699.32, 0))	+	(43.118 + max(576.236, 0)) )	/	2 )
=	1197.402	/	( ( 722.991	+	619.354 )	/	2 )
=	1197.402	/	671.1725
=	178.40 %

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)
=	(1052.841	+	126.352	+	35.947)	-	(515.819	+	0	+	0.00100000000009)
=	699.32

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(949.35	+	337.196	+	39.126)	-	(749.435	+	0	+	0.00100000000009)
=	576.236

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 %:

SciClone Pharmaceuticals (Holdings)'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 )
	=	552.884	/	1697.854
	=	32.56 %

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.

SciClone Pharmaceuticals (Holdings) Operating Income Related Terms

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SciClone Pharmaceuticals (Holdings) (HKSE:06600) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Drug Manufacturers » SciClone Pharmaceuticals (Holdings) Ltd (HKSE:06600) » Definitions » Operating Income

Traded in Other Exchanges

N/A

Address

381 Middle Huaihai Road, 22nd Floor, Central Plaza, Shanghai, CHN

Website

https://www.sciclone.com

SciClone Pharmaceuticals (Holdings) Ltd is a biopharmaceutical company with an integrated platform for product development and commercialization. It strategically focuses on some of the fast-growing therapeutic areas with unmet medical needs in China, primarily including oncology and severe infection. It generated revenue primarily from the sale of Zadaxin to Sinopharm.

Executives

Ubs Group Ag	2201 Interest of corporation controlled by you
Zhao Hong	2101 Beneficial owner
Gl Capital Management Gp Limited
Meng Liang	2201 Interest of corporation controlled by you
Ascendent Silver (cayman) Limited	2501 Other
Ascendent Capital Partners Ii Gp Limited	2201 Interest of corporation controlled by you
Ascendent Capital Partners Ii, Gp, L.p.	2201 Interest of corporation controlled by you
Ascendent Capital Partners Ii, L.p.	2201 Interest of corporation controlled by you
Gl Partners Capital Management Ltd.
Gl China Opportunities Carry Gp Limited
Ocean Falcon Limited	2101 Beneficial owner
Central Huijin Investment Ltd.	2201 Interest of corporation controlled by you
Bank Of China Limited	2201 Interest of corporation controlled by you
Bank Of China Group Investment Limited	2201 Interest of corporation controlled by you
Gl Capital Management Gp Ii B.c I. Ltd

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