New Horizon Aircraft (New Horizon Aircraft) Operating Income : $ Mil (TTM As of May. 2023)

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What is New Horizon Aircraft Operating Income?

New Horizon Aircraft's Operating Income for the six months ended in May. 2023 was $-0.80 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. New Horizon Aircraft's Operating Income for the six months ended in May. 2023 was $-0.80 Mil. New Horizon Aircraft's Revenue for the six months ended in May. 2023 was $0.00 Mil. Therefore, New Horizon Aircraft's Operating Margin % for the quarter that ended in May. 2023 was %.

New Horizon Aircraft'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. New Horizon Aircraft's annualized ROC % for the quarter that ended in May. 2023 was -57.01%. New Horizon Aircraft's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2023 was -465.52%.

New Horizon Aircraft Operating Income Historical Data

The historical data trend for New Horizon Aircraft'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.

New Horizon Aircraft Operating Income Chart

New Horizon Aircraft Annual Data

Trend

May22

May23

Operating Income

-1.39

-0.80

New Horizon Aircraft Semi-Annual Data
	May22	May23
Operating Income	-1.39	-0.80

New Horizon Aircraft 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. Operating Income for the trailing twelve months (TTM) ended in May. 2023 was $ Mil.

New Horizon Aircraft (NAS:HOVR) Operating Income Explanation

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

New Horizon Aircraft's annualized ROC % for the quarter that ended in May. 2023 is calculated as:

	ROC % (Q: May. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: May. 2022 )	+	Invested Capital (Q: May. 2023 ))	/ count )
=	-0.803 * ( 1 - 0% )	/	( (1.015	+	1.802)	/ 2 )
=	-0.803	/	1.4085
=	-57.01 %

where

	Invested Capital		(Q: May. 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	))
=	0.905	-	0.145	-	( 0.003	-	max(0, 0.26	-	0.005	+	0.003	))
=	1.015

	Invested Capital		(Q: May. 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	))
=	1.045	-	0.163	-	( 0.169	-	max(0, 1.101	-	0.181	+	0.169	))
=	1.802

Note: The Operating Income data used here is one times the annual (May. 2023) data.

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

New Horizon Aircraft's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: May. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: May. 2022		Q: May. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-0.81	/	( ( (0.204 + max(-0.143, 0))	+	(0.144 + max(-0.151, 0)) )	/	2 )
=	-0.81	/	( ( 0.204	+	0.144 )	/	2 )
=	-0.81	/	0.174
=	-465.52 %

where Working Capital is:

	Working Capital		(Q: May. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.002)	-	(0.145	+	0	+	0)
=	-0.143

	Working Capital		(Q: May. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.011	+	0	+	0.00099999999999997)	-	(0.163	+	0	+	0)
=	-0.151

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (May. 2023) EBIT data.

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

New Horizon Aircraft's Operating Margin % for the quarter that ended in May. 2023 is calculated as:

Operating Margin %	=	Operating Income (Q: May. 2023 )	/	Revenue (Q: May. 2023 )
	=	-0.803	/	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.

New Horizon Aircraft Operating Income Related Terms

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New Horizon Aircraft (New Horizon Aircraft) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Aerospace & Defense » New Horizon Aircraft Ltd (NAS:HOVR) » Definitions » Operating Income

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Traded in Other Exchanges

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Address

3187 Highway 35, Lindsay, ON, CAN, K9V 4R1

Website

New Horizon Aircraft Ltd is an advanced aerospace Original Equipment Manufacturer that is designing and aiming to build a next-generation hybrid electric vertical take-off and landing aircraft for the regional air mobility market. Its unique aircraft will offer a more efficient way to move people and goods at a regional scale, help to connect remote communities and advance its ability to deal with an increasing number of climate-related natural disasters such as wildfires, Floods and droughts. The company aims to deliver a hybrid electric 7-seat aircraft, called the Cavorite X7, that can take off and land vertically like and helicopter.

New Horizon Aircraft (New Horizon Aircraft) Headlines

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