U Power (U Power) Operating Income : $-4.88 Mil (TTM As of Dec. 2023)

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What is U Power Operating Income?

U Power's Operating Income for the six months ended in Dec. 2023 was $-2.01 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $-4.88 Mil.

Warning Sign:

U Power Ltd has never been profitable in the past 3 years. It lost money every year.

Operating Margin % is calculated as Operating Income divided by its Revenue. U Power's Operating Income for the six months ended in Dec. 2023 was $-2.01 Mil. U Power's Revenue for the six months ended in Dec. 2023 was $2.50 Mil. Therefore, U Power's Operating Margin % for the quarter that ended in Dec. 2023 was -80.46%.

U Power'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. U Power's annualized ROC % for the quarter that ended in Dec. 2023 was -9.51%. U Power's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -35.01%.

U Power Operating Income Historical Data

The historical data trend for U Power'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.

U Power Operating Income Chart

U Power Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Operating Income

-2.45

-7.06

-8.07

-4.89

U Power Semi-Annual Data
	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Operating Income	Get a 7-Day Free Trial			-4.31	-2.04	-6.11	-2.87	-2.01

U Power 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 $-4.88 Mil.

U Power (NAS:UCAR) Operating Income Explanation

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

U Power'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 )
=	-4.026 * ( 1 - -7.47% )	/	( (35.389	+	55.606)	/ 2 )
=	-4.3267422	/	45.4975
=	-9.51 %

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	))
=	54.353	-	5.006	-	( 15.057	-	max(0, 9.983	-	23.941	+	15.057	))
=	35.389

	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	))
=	60.081	-	4.205	-	( 0.27	-	max(0, 10.487	-	22.856	+	0.27	))
=	55.606

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:

U Power'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 )
=	-4.386	/	( ( (4.31 + max(2.749, 0))	+	(4.681 + max(13.314, 0)) )	/	2 )
=	-4.386	/	( ( 7.059	+	17.995 )	/	2 )
=	-4.386	/	12.527
=	-35.01 %

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)
=	(0.091	+	0.922	+	7.846)	-	(5.006	+	1.047	+	0.056999999999999)
=	2.749

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2.206	+	0.762	+	15.333)	-	(4.205	+	0.724	+	0.058)
=	13.314

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 %:

U Power'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 )
	=	-2.013	/	2.502
	=	-80.46 %

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.

U Power Operating Income Related Terms

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U Power (U Power) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » U Power Ltd (NAS:UCAR) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

18th Floor, Building 3, Science and Technology Industrial Park, Yijiang District, Anhui Province, Wuhu, CHN, 241003

Website

http://www.upincar.com

U Power Ltd is involved in the provision of vehicle sourcing services. It is principally engaged in the provision of new energy vehicles development and sales; battery swapping stations manufactory and sales; battery swapping services and sourcing services. The company as a broker engaged in sales of vehicles between automobile wholesalers and buyers, including small and medium sized vehicle dealers and individual customers primarily located in the lower-tier cities in China, which are smaller and less developed than the tier-1 or tier-2 cities.