MMX Mineracao E Metalicos (MMX Mineracao E Metalicos) Operating Income : $-1.03 Mil (TTM As of Mar. 2021)

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What is MMX Mineracao E Metalicos Operating Income?

MMX Mineracao E Metalicos's Operating Income for the three months ended in Mar. 2021 was $-0.41 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2021 was $-1.03 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. MMX Mineracao E Metalicos's Operating Income for the three months ended in Mar. 2021 was $-0.41 Mil. MMX Mineracao E Metalicos's Revenue for the three months ended in Mar. 2021 was $0.00 Mil. Therefore, MMX Mineracao E Metalicos's Operating Margin % for the quarter that ended in Mar. 2021 was %.

MMX Mineracao E Metalicos'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. MMX Mineracao E Metalicos's annualized ROC % for the quarter that ended in Mar. 2021 was -1.15%. MMX Mineracao E Metalicos's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2021 was -653.53%.

MMX Mineracao E Metalicos Operating Income Historical Data

The historical data trend for MMX Mineracao E Metalicos'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.

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MMX Mineracao E Metalicos Operating Income Chart

MMX Mineracao E Metalicos Annual Data

Trend

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Operating Income

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122.79

-8.73

-6.11

-25.12

-0.86

MMX Mineracao E Metalicos Quarterly Data
	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21
Operating Income	Get a 7-Day Free Trial															-0.12	-0.12	4.45	-4.94	-0.41

MMX Mineracao E Metalicos 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. 2021 adds up the quarterly data reported by the company within the most recent 12 months, which was $-1.03 Mil.

MMX Mineracao E Metalicos (GREY:MMXXF) Operating Income Explanation

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

MMX Mineracao E Metalicos's annualized ROC % for the quarter that ended in Mar. 2021 is calculated as:

	ROC % (Q: Mar. 2021 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2020 )	+	Invested Capital (Q: Mar. 2021 ))	/ count )
=	-1.64 * ( 1 - -0.3% )	/	( (147.629	+	139.644)	/ 2 )
=	-1.64492	/	143.6365
=	-1.15 %

where

	Invested Capital		(Q: Dec. 2020 )
=	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	))
=	24.865	-	42.845	-	( 0.003	-	max(0, 166.966	-	1.357	+	0.003	))
=	147.629

	Invested Capital		(Q: Mar. 2021 )
=	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	))
=	22.716	-	39.413	-	( 0.051	-	max(0, 157.623	-	1.282	+	0.051	))
=	139.644

Note: The Operating Income data used here is four times the quarterly (Mar. 2021) data.

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

MMX Mineracao E Metalicos's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2021 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2021 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2020		Q: Mar. 2021
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-17.616	/	( ( (2.818 + max(-100.697, 0))	+	(2.573 + max(-92.674, 0)) )	/	2 )
=	-17.616	/	( ( 2.818	+	2.573 )	/	2 )
=	-17.616	/	2.6955
=	-653.53 %

where Working Capital is:

	Working Capital		(Q: Dec. 2020 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	1.19)	-	(42.845	+	0	+	59.042)
=	-100.697

	Working Capital		(Q: Mar. 2021 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	1.073)	-	(39.413	+	0	+	54.334)
=	-92.674

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2021) EBIT data.

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

MMX Mineracao E Metalicos's Operating Margin % for the quarter that ended in Mar. 2021 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2021 )	/	Revenue (Q: Mar. 2021 )
	=	-0.41	/	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.

MMX Mineracao E Metalicos Operating Income Related Terms

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MMX Mineracao E Metalicos (MMX Mineracao E Metalicos) Business Description

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GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » MMX Mineracao E Metalicos SA (GREY:MMXXF) » Definitions » Operating Income

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Address

Rua Lauro Muller, 116 sala 1808, Botafogo Rio de Janeiro, Rio de Janeiro, RJ, BRA, 22290-160

Website

http://www.mmx.com.br

MMX Mineracao E Metalicos SA (MMX) is a Brazil-based company engaged in iron ore mining. The company has installed capacity to produce about 7 million metric tons of iron ore per year in its two systems, namely The Southeast System and the Corumba System. The Southeast System is formed by the Serra Azul and Bom Sucesso Units. It exploits the Tico-Tico and Ipe mines, located in the Serra Azul Region-in the iron mining area of Minas Gerais State. The company has also acquired the mining rights for the Pau de Vinho Mine. The iron ore produced by the Serra Azul Unit is sold to customers in Brazil and other countries.

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