Highwater Ethanol LLC (Highwater Ethanol LLC) Operating Income : $13.6 Mil (TTM As of Jan. 2024)

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What is Highwater Ethanol LLC Operating Income?

Highwater Ethanol LLC's Operating Income for the three months ended in Jan. 2024 was $0.4 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jan. 2024 was $13.6 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Highwater Ethanol LLC's Operating Income for the three months ended in Jan. 2024 was $0.4 Mil. Highwater Ethanol LLC's Revenue for the three months ended in Jan. 2024 was $37.2 Mil. Therefore, Highwater Ethanol LLC's Operating Margin % for the quarter that ended in Jan. 2024 was 0.95%.

Highwater Ethanol LLC'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. Highwater Ethanol LLC's annualized ROC % for the quarter that ended in Jan. 2024 was 3.46%. Highwater Ethanol LLC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jan. 2024 was 10.24%.

Highwater Ethanol LLC Operating Income Historical Data

The historical data trend for Highwater Ethanol LLC'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.

Highwater Ethanol LLC Operating Income Chart

Highwater Ethanol LLC Annual Data

Trend

Oct14

Oct15

Oct16

Oct17

Oct18

Oct19

Oct20

Oct21

Oct22

Oct23

Operating Income

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-7.71

-6.11

12.31

28.94

15.36

Highwater Ethanol LLC Quarterly Data
	Apr19	Jul19	Oct19	Jan20	Apr20	Jul20	Oct20	Jan21	Apr21	Jul21	Oct21	Jan22	Apr22	Jul22	Oct22	Jan23	Apr23	Jul23	Oct23	Jan24
Operating Income	Get a 7-Day Free Trial															2.15	1.58	6.05	5.58	0.35

Highwater Ethanol LLC 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 Jan. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $13.6 Mil.

Highwater Ethanol LLC (GREY:HEOL) Operating Income Explanation

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

Highwater Ethanol LLC's annualized ROC % for the quarter that ended in Jan. 2024 is calculated as:

	ROC % (Q: Jan. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Oct. 2023 )	+	Invested Capital (Q: Jan. 2024 ))	/ count )
=	1.412 * ( 1 - 0% )	/	( (39.196	+	42.474)	/ 2 )
=	1.412	/	40.835
=	3.46 %

where

	Invested Capital		(Q: Oct. 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	))
=	101.039	-	20.323	-	( 41.52	-	max(0, 20.565	-	62.248	+	41.52	))
=	39.196

	Invested Capital		(Q: Jan. 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	))
=	80.728	-	15.421	-	( 22.833	-	max(0, 15.624	-	42.661	+	22.833	))
=	42.474

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

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

Highwater Ethanol LLC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jan. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jan. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Oct. 2023		Q: Jan. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	3.556	/	( ( (33.213 + max(-0.717, 0))	+	(32.492 + max(3.715, 0)) )	/	2 )
=	3.556	/	( ( 33.213	+	36.207 )	/	2 )
=	3.556	/	34.71
=	10.24 %

where Working Capital is:

	Working Capital		(Q: Oct. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.813	+	16.113	+	1.68)	-	(20.323	+	0	+	0)
=	-0.717

	Working Capital		(Q: Jan. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.944	+	16.036	+	1.156)	-	(15.421	+	0	+	1.7763568394003E-15)
=	3.715

When net working capital is negative, 0 is used.

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

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

Highwater Ethanol LLC's Operating Margin % for the quarter that ended in Jan. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Jan. 2024 )	/	Revenue (Q: Jan. 2024 )
	=	0.353	/	37.236
	=	0.95 %

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.

Highwater Ethanol LLC Operating Income Related Terms

Thank you for viewing the detailed overview of Highwater Ethanol LLC's Operating Income provided by GuruFocus.com. Please click on the following links to see related term pages.

Highwater Ethanol LLC (Highwater Ethanol LLC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Highwater Ethanol LLC (GREY:HEOL) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

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Address

24500 US Highway 14, P.O. Box 96, Lamberton, MN, USA, 56152

Website

http://www.highwaterethanol.com

Highwater Ethanol LLC is engaged in the production of ethanol and distillers grains at the plant. It focuses on the manufacturing and marketing of fuel-grade ethanol and the co-products of the ethanol production process. Its products include fuel-grade ethanol, distillers grains, and corn oil. The company produces and sells fuel ethanol and co-products of the fuel ethanol production process in the continental United States.

Executives

Gerald R Forsythe	director	600 N BUFFALO GROVE RD, BUFFALO GROVE IL 60089
Mark Warren Pankonin	director	23620 COUNTY ROAD 4 LAMBERTON MN 56152
David Richard Eis	officer: Governor	26116 GARDEN AVE WABASSO MN 56293
Lucas Grant Schneider	officer: Chief Financial Officer	2858 LINDEN AVENUE SLAYTON MN 56172
Luke T Spalj	other: Govenor	1360 POST OAK BLVD, STE 2100, HOUSTON TX 77056
Scott A Brittenham	director	4400 E. BROADWAY SUITE 600 TUSCON AZ 85711
Rex Roehl	director	600 NORTH BUFFALO GROVE ROAD, SUITE 300 BUFFALO GROVE IL 60089
Mark W Peterson	officer: CFO	712 W VICTORY LANE SIOUX FALLS SD 57108
Jason Ray Fink	director	3903 COVEY TR MINNETRISTA MN 55375
George Michael Goblish	director	32866 DAYTON AVENUE VESTA MN 56292
Ronald Eric Jorgenson	director	33689 CO ROAD 4 JEFFERS MN 56145
Brian D Kletscher	director, officer: CEO	26161 140TH ST LAMBERTON MN 56152
Michael John Landuyt	director	13526 CAMP AVENUE WALNUT GROVE MN 56180
Todd Allen Reif	director	123 SAVANNAH HEIGHTS BLVD LYND MN 56175
Monica Rose Anderson	director	2736 211TH STREET WALNUT GROVE MN 56180

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