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Universal Security Instruments's Operating Income for the three months ended in Dec. 2023 was $0.11 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was $0.51 Mil.
Warning Sign:
Universal Security Instruments Inc has recorded a loss in operating income at least once over the past 3 years.
Operating Margin % is calculated as Operating Income divided by its Revenue. Universal Security Instruments's Operating Income for the three months ended in Dec. 2023 was $0.11 Mil. Universal Security Instruments's Revenue for the three months ended in Dec. 2023 was $4.66 Mil. Therefore, Universal Security Instruments's Operating Margin % for the quarter that ended in Dec. 2023 was 2.45%.
Universal Security Instruments'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. Universal Security Instruments's annualized ROC % for the quarter that ended in Dec. 2023 was 7.03%. Universal Security Instruments's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 13.99%.
The historical data trend for Universal Security Instruments'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.
Universal Security Instruments Annual Data | |||||||||||||||||||||
Trend | Mar14 | Mar15 | Mar16 | Mar17 | Mar18 | Mar19 | Mar20 | Mar21 | Mar22 | Mar23 | |||||||||||
Operating Income | Get a 7-Day Free Trial | 0.19 | -1.56 | 0.13 | 0.07 | 0.97 |
Universal Security Instruments Quarterly Data | ||||||||||||||||||||
Mar19 | Jun19 | Sep19 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | |
Operating Income | Get a 7-Day Free Trial | 0.42 | 0.34 | 0.22 | -0.16 | 0.11 |
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 quarterly data reported by the company within the most recent 12 months, which was $0.51 Mil.
* 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.
Universal Security Instruments (AMEX:UUU) Operating Income Explanation
1. Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
Universal Security Instruments'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: Sep. 2023 ) | + | Invested Capital (Q: Dec. 2023 )) | / count ) |
= | 0.456 * ( 1 - 0% ) | / | ( (6.242 | + | 6.732) | / 2 ) |
= | 0.456 | / | 6.487 | |||
= | 7.03 % |
where
Invested Capital | (Q: Sep. 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 | )) |
= | 8.995 | - | 2.498 | - | ( 0.255 | - | max(0, 3.565 | - | 8.719 | + | 0.255 | )) |
= | 6.242 |
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 | )) |
= | 8.904 | - | 2.133 | - | ( 0.039 | - | max(0, 3.411 | - | 8.672 | + | 0.039 | )) |
= | 6.732 |
Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.
2. Joel Greenblatt's definition of Return on Capital:
Universal Security Instruments'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: Sep. 2023 | Q: Dec. 2023 | ||||||
= | EBIT | / | ( ( (Property, Plant and Equipment + Net Working Capital) | + | (Property, Plant and Equipment + Net Working Capital) ) | / | count ) |
= | 0.552 | / | ( ( (0.243 + max(3.658, 0)) | + | (0.199 + max(3.794, 0)) ) | / | 2 ) |
= | 0.552 | / | ( ( 3.901 | + | 3.993 ) | / | 2 ) |
= | 0.552 | / | 3.947 | ||||
= | 13.99 % |
where Working Capital is:
Working Capital | (Q: Sep. 2023 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (0.822 | + | 4.968 | + | 0.366) | - | (2.498 | + | 0 | + | -4.4408920985006E-16) |
= | 3.658 |
Working Capital | (Q: Dec. 2023 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (0.647 | + | 4.881 | + | 0.399) | - | (2.133 | + | 0 | + | 0) |
= | 3.794 |
When net working capital is negative, 0 is used.
Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.
3. Operating Income is also linked to Operating Margin %:
Universal Security Instruments'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 ) |
= | 0.114 | / | 4.655 | |
= | 2.45 % |
* 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.
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.
Thank you for viewing the detailed overview of Universal Security Instruments's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.
Bitnile Holdings, Inc. | 10 percent owner | 11411 SOUTHERN HIGHLANDS PARKWAY, SUITE 240, LAS VEGAS NV 89141 |
North Star Investment Management Corp. | other: SEE NOTE 2 BELOW | 20 N. WACKER DRIVE, SUITE # 1416, CHICAGO IL 60606 |
North Star Micro Cap Fund | 10 percent owner | 80 ARKAY DRIVE, SUITE 110, HAUPPAUGE NY 11788 |
Ira Bormel | director | 11407 CRONHILL DRIVE, SUITE A, OWINGS MILLS MD 21117 |
Harvey B Grossblatt | director, officer: President, CEO | 7-A GWYNNS MILL COURT, OWINGS MILLS MD 21117 |
Ronald A Seff | director | 7-A GWYNNS MILL COURT, OWINGS MILLS MD 21117 |
Howard B Silverman | director | 7-A GWYNNS MILL COURT, OWINGS MILLS MD 21117 |
Cary Luskin | director | 7-A GWYNNS MILL COURT, OWINGS MILLS MD 21117 |
Michael L Kovens | 10 percent owner | 6 REGENCY CT, BALTIMORE MD 21208 |
James Ballard Huff | officer: Chief Financial Officer | 7-A GWYNNS MILL COURT, OWINGS MILLS MD 21117 |
Ronald S Lazarus | 10 percent owner | 7-A GWYNNS MILL COURT, OWINGS MILLS MD 21117 |
Stephen C Knepper | director, 10 percent owner, officer: Chairman, CEO | 7-A GWYNNS MILL COURT, OWINGS MILLS MD 21117 |
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