BTG Hotels (Group) Co (SHSE:600258) Operating Income : ¥1,590 Mil (TTM As of Mar. 2024)

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What is BTG Hotels (Group) Co Operating Income?

BTG Hotels (Group) Co's Operating Income for the three months ended in Mar. 2024 was ¥251 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 was ¥1,590 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. BTG Hotels (Group) Co's Operating Income for the three months ended in Mar. 2024 was ¥251 Mil. BTG Hotels (Group) Co's Revenue for the three months ended in Mar. 2024 was ¥1,845 Mil. Therefore, BTG Hotels (Group) Co's Operating Margin % for the quarter that ended in Mar. 2024 was 13.62%.

BTG Hotels (Group) Co'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. BTG Hotels (Group) Co's annualized ROC % for the quarter that ended in Mar. 2024 was 3.12%. BTG Hotels (Group) Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 11.07%.

BTG Hotels (Group) Co Operating Income Historical Data

The historical data trend for BTG Hotels (Group) Co'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.

BTG Hotels (Group) Co Operating Income Chart

BTG Hotels (Group) Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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1,395.49

-296.80

556.36

-164.05

1,547.31

BTG Hotels (Group) Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Operating Income	Get a 7-Day Free Trial															208.15	419.30	647.30	272.55	251.35

BTG Hotels (Group) Co 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. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was ¥1,590 Mil.

BTG Hotels (Group) Co (SHSE:600258) Operating Income Explanation

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

BTG Hotels (Group) Co's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

	ROC % (Q: Mar. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Mar. 2024 ))	/ count )
=	1005.392 * ( 1 - 22.91% )	/	( (24645.901	+	24992.142)	/ 2 )
=	775.0566928	/	24819.0215
=	3.12 %

where

	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	))
=	25240.145	-	2058.237	-	( 2313.05	-	max(0, 4494.794	-	3030.801	+	2313.05	))
=	24645.901

	Invested Capital		(Q: Mar. 2024 )
=	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	))
=	25678.312	-	1977.95	-	( 2505.106	-	max(0, 4653.513	-	3361.733	+	2505.106	))
=	24992.142

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

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

BTG Hotels (Group) Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2023		Q: Mar. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1103.684	/	( ( (9896.508 + max(-2303.585, 0))	+	(10037.585 + max(-2251.585, 0)) )	/	2 )
=	1103.684	/	( ( 9896.508	+	10037.585 )	/	2 )
=	1103.684	/	9967.0465
=	11.07 %

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(359.442	+	43.644	+	240.346)	-	(2058.237	+	0	+	888.78)
=	-2303.585

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(364.589	+	39.786	+	225.721)	-	(1977.95	+	0	+	903.731)
=	-2251.585

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

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

BTG Hotels (Group) Co's Operating Margin % for the quarter that ended in Mar. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Mar. 2024 )	/	Revenue (Q: Mar. 2024 )
	=	251.348	/	1845.459
	=	13.62 %

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.

BTG Hotels (Group) Co Operating Income Related Terms

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BTG Hotels (Group) Co (SHSE:600258) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » BTG Hotels (Group) Co Ltd (SHSE:600258) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

51 Fuxingmennei Boulevard, Xicheng District, Beijing, CHN, 100031

Website

http://www.btghotels.com

BTG Hotels (Group) Co Ltd engages in investment and management; hotel operation and management; property management; renting commercial premises; tourism services; development and sales of tourism products; taxi passenger transport; information consulting; exhibition and exhibition activities; catering services; design, production, agency, publishing domestic And foreign businessmen's advertising in China.

Executives

Sun Jian	Director
Zong Xiang Xin	Director
Shen Nan Peng	Director

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