Yancoal Australia (ASX:YAL) Operating Income : A$3,104 Mil (TTM As of Dec. 2023)

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What is Yancoal Australia Operating Income?

Yancoal Australia's Operating Income for the six months ended in Dec. 2023 was A$1,412 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was A$3,104 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Yancoal Australia's Operating Income for the six months ended in Dec. 2023 was A$1,412 Mil. Yancoal Australia's Revenue for the six months ended in Dec. 2023 was A$3,663 Mil. Therefore, Yancoal Australia's Operating Margin % for the quarter that ended in Dec. 2023 was 38.55%.

Good Sign:

Yancoal Australia Ltd operating margin is expanding. Margin expansion is usually a good sign.

Yancoal Australia's 5-Year average Growth Rate for Operating Margin % was 21.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Yancoal Australia's annualized ROC % for the quarter that ended in Dec. 2023 was 21.83%. Yancoal Australia's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 30.61%.

Yancoal Australia Operating Income Historical Data

The historical data trend for Yancoal Australia'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.

Yancoal Australia Operating Income Chart

Yancoal Australia Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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1,164.00

39.00

1,695.00

6,237.00

3,104.00

Yancoal Australia Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Operating Income	Get a 7-Day Free Trial															1,600.00	2,939.00	3,298.00	1,692.00	1,412.00

Yancoal Australia 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 A$3,104 Mil.

Yancoal Australia (ASX:YAL) Operating Income Explanation

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

Yancoal Australia'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 )
=	2824 * ( 1 - 29.21% )	/	( (9194	+	9123)	/ 2 )
=	1999.1096	/	9158.5
=	21.83 %

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	))
=	10913	-	678	-	( 1084	-	max(0, 1015	-	2056	+	1084	))
=	9194

	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	))
=	11254	-	734	-	( 1397	-	max(0, 1048	-	2533	+	1397	))
=	9123

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:

Yancoal Australia'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 )
=	2428	/	( ( (8002 + max(2, 0))	+	(7860 + max(-1, 0)) )	/	2 )
=	2428	/	( ( 8004	+	7860 )	/	2 )
=	2428	/	7932
=	30.61 %

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)
=	(580	+	320	+	72)	-	(678	+	232	+	60)
=	2

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(529	+	417	+	57)	-	(734	+	222	+	48)
=	-1

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 %:

Yancoal Australia'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 )
	=	1412	/	3663
	=	38.55 %

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.

Yancoal Australia Operating Income Related Terms

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Yancoal Australia (ASX:YAL) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Other Energy Sources » Yancoal Australia Ltd (ASX:YAL) » Definitions » Operating Income

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Traded in Other Exchanges

YACAF:USA 03668:Hong Kong YA1:Germany

Address

201 Sussex Street, Level 18, Darling Park Tower 2, Sydney, NSW, AUS, 2000

Website

https://www.yancoal.com.au

Yancoal Australia Ltd is involved in identifying, developing, and operating coal-related projects in Australia. It has a diversified product mix of metallurgical and thermal coal mines in New South Wales and Queensland. The company generates maximum revenue from the New South Wales segment. Non-operating items of the Group are presented in Corporate segment which includes administrative expenses, foreign exchange gains and losses recycled from hedge reserve, and elimination of intersegment transactions and other consolidation adjustments. It operates coal mines in the Hunter Valley and mid-Western region of New South Wales and open-cut mines in Queensland's Bowen Basin. The company's geographical markets include Japan, Singapore, China, South Korea, Taiwan, Thailand, and other countries.

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