China Resources Mixc Lifestyle Services (HKSE:01209) Operating Income : HK$3,889 Mil (TTM As of Dec. 2023)

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What is China Resources Mixc Lifestyle Services Operating Income?

China Resources Mixc Lifestyle Services's Operating Income for the six months ended in Dec. 2023 was HK$1,980 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2023 was HK$3,889 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. China Resources Mixc Lifestyle Services's Operating Income for the six months ended in Dec. 2023 was HK$1,980 Mil. China Resources Mixc Lifestyle Services's Revenue for the six months ended in Dec. 2023 was HK$8,721 Mil. Therefore, China Resources Mixc Lifestyle Services's Operating Margin % for the quarter that ended in Dec. 2023 was 22.71%.

Good Sign:

China Resources Mixc Lifestyle Services Ltd operating margin is expanding. Margin expansion is usually a good sign.

China Resources Mixc Lifestyle Services's 5-Year average Growth Rate for Operating Margin % was 30.10% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. China Resources Mixc Lifestyle Services's annualized ROC % for the quarter that ended in Dec. 2023 was 27.55%. China Resources Mixc Lifestyle Services's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 609.56%.

China Resources Mixc Lifestyle Services Operating Income Historical Data

The historical data trend for China Resources Mixc Lifestyle Services'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.

China Resources Mixc Lifestyle Services Operating Income Chart

China Resources Mixc Lifestyle Services Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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545.26

1,317.06

2,399.15

2,837.79

3,888.94

China Resources Mixc Lifestyle Services Semi-Annual Data
	Dec17	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
Operating Income	Get a 7-Day Free Trial							1,277.09	1,475.20	1,432.42	1,908.49	1,980.45

China Resources Mixc Lifestyle Services 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 HK$3,889 Mil.

China Resources Mixc Lifestyle Services (HKSE:01209) Operating Income Explanation

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

China Resources Mixc Lifestyle Services'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 )
=	3960.902 * ( 1 - 23.27% )	/	( (10358.069	+	11706.157)	/ 2 )
=	3039.2001046	/	11032.113
=	27.55 %

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	))
=	28839.518	-	6610.449	-	( 16683.68	-	max(0, 8715.034	-	20586.034	+	16683.68	))
=	10358.069

	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	))
=	30388.986	-	6455.794	-	( 17098.963	-	max(0, 9121.795	-	21348.83	+	17098.963	))
=	11706.157

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:

China Resources Mixc Lifestyle Services'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 )
=	4498.238	/	( ( (749.596 + max(-5684.97, 0))	+	(726.289 + max(-5985.162, 0)) )	/	2 )
=	4498.238	/	( ( 749.596	+	726.289 )	/	2 )
=	4498.238	/	737.9425
=	609.56 %

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)
=	(2231.388	+	255.549	+	431.527)	-	(6610.449	+	0	+	1992.985)
=	-5684.97

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2267.999	+	221.758	+	480.856)	-	(6455.794	+	0	+	2499.981)
=	-5985.162

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 %:

China Resources Mixc Lifestyle Services'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 )
	=	1980.451	/	8721.387
	=	22.71 %

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.

China Resources Mixc Lifestyle Services Operating Income Related Terms

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China Resources Mixc Lifestyle Services (HKSE:01209) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » China Resources Mixc Lifestyle Services Ltd (HKSE:01209) » Definitions » Operating Income

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Address

No. 9668 Shennan Avenue, 30th Floor, China Resources Land Building, Tower B, Nanshan District, Shenzhen, CHN

Website

https://www.crmixclifestyle.com.cn

China Resources Mixc Lifestyle Services Ltd offers property management services. The business activities of the group function through two business segments namely the residential property management services segment and Commercial operational and property management services segment. Majority of revenue is generated from Commercial operational and property management services segment. The Group provides property management and value-added services to portfolios of residential properties, and also manages and operates a diversified and growing portfolio of commercial properties comprising shopping malls and office buildings. Geographically the company operates through the regions of China.

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