Kiang Huat Sea Gull Trading Frozen Food PCL (BKK:CHOTI) Operating Income : ฿149 Mil (TTM As of Mar. 2024)

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What is Kiang Huat Sea Gull Trading Frozen Food PCL Operating Income?

Kiang Huat Sea Gull Trading Frozen Food PCL's Operating Income for the three months ended in Mar. 2024 was ฿-5 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 was ฿149 Mil.

Warning Sign:

Kiang Huat Sea Gull Trading Frozen Food PCL 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. Kiang Huat Sea Gull Trading Frozen Food PCL's Operating Income for the three months ended in Mar. 2024 was ฿-5 Mil. Kiang Huat Sea Gull Trading Frozen Food PCL's Revenue for the three months ended in Mar. 2024 was ฿691 Mil. Therefore, Kiang Huat Sea Gull Trading Frozen Food PCL's Operating Margin % for the quarter that ended in Mar. 2024 was -0.69%.

Kiang Huat Sea Gull Trading Frozen Food PCL'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. Kiang Huat Sea Gull Trading Frozen Food PCL's annualized ROC % for the quarter that ended in Mar. 2024 was -0.84%. Kiang Huat Sea Gull Trading Frozen Food PCL's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was -1.33%.

Kiang Huat Sea Gull Trading Frozen Food PCL Operating Income Historical Data

The historical data trend for Kiang Huat Sea Gull Trading Frozen Food PCL'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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Kiang Huat Sea Gull Trading Frozen Food PCL Operating Income Chart

Kiang Huat Sea Gull Trading Frozen Food PCL Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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-166.85

-141.14

58.26

126.65

159.57

Kiang Huat Sea Gull Trading Frozen Food PCL 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															-23.86	166.79	20.30	-33.19	-4.75

Kiang Huat Sea Gull Trading Frozen Food PCL 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 ฿149 Mil.

Kiang Huat Sea Gull Trading Frozen Food PCL (BKK:CHOTI) Operating Income Explanation

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

Kiang Huat Sea Gull Trading Frozen Food PCL'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 )
=	-18.984 * ( 1 - -5.54% )	/	( (2434.961	+	2340.187)	/ 2 )
=	-20.0357136	/	2387.574
=	-0.84 %

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	))
=	2558.034	-	90.383	-	( 32.69	-	max(0, 1484.208	-	1941.106	+	32.69	))
=	2434.961

	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	))
=	2444.566	-	94.27	-	( 10.109	-	max(0, 1387.809	-	1771.402	+	10.109	))
=	2340.187

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

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

Kiang Huat Sea Gull Trading Frozen Food PCL'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 )
=	-29.408	/	( ( (456.258 + max(1801.973, 0))	+	(510.207 + max(1667.023, 0)) )	/	2 )
=	-29.408	/	( ( 2258.231	+	2177.23 )	/	2 )
=	-29.408	/	2217.7305
=	-1.33 %

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)
=	(92.18	+	1800.176	+	0)	-	(90.383	+	0	+	0)
=	1801.973

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(258.553	+	1502.74	+	0)	-	(94.27	+	0	+	0)
=	1667.023

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 %:

Kiang Huat Sea Gull Trading Frozen Food PCL'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 )
	=	-4.746	/	691.406
	=	-0.69 %

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.

Kiang Huat Sea Gull Trading Frozen Food PCL Operating Income Related Terms

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Kiang Huat Sea Gull Trading Frozen Food PCL (BKK:CHOTI) Business Description

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GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Kiang Huat Sea Gull Trading Frozen Food PCL (BKK:CHOTI) » Definitions » Operating Income

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Traded in Other Exchanges

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Address

4/2 Moo 3, Asia 43 Road, Tambol Namom, Amphur Namom, Songkhla, THA, 90310

Website

https://www.kst-hatyai.com

Kiang Huat Sea Gull Trading Frozen Food PCL is engaged in the frozen seafood manufacturing business. The production processes include beheading, peeling, sizing, weighing, arranging, cooking, value-added processing, and freezing and packing. The company produces a wide variety of block, vacuum-packed items such as Raw and cooked head-on, Headless and peeled shrimps, Extended shrimps (nobashi), Cooked tail-on butterfly shrimps (sushi), Breaded shrimps (panko), Easily peeled shrimps, Slipper lobster tail, and Meat. The organization sells its products under its own brands which are Sea Kin, Sea Champion, Eagle, Sea Queen, Sea Flower, and Blue Gulf. The group sells its products in Asia, Europe, America, Africa, and Thailand, of which key revenue is generated from Asia.

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