PT Goto Gojek Tokopedia Tbk (ISX:GOTO) Operating Income : Rp-7,175,980 Mil (TTM As of Mar. 2024)

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What is PT Goto Gojek Tokopedia Tbk Operating Income?

PT Goto Gojek Tokopedia Tbk's Operating Income for the three months ended in Mar. 2024 was Rp-941,969 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 was Rp-7,175,980 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. PT Goto Gojek Tokopedia Tbk's Operating Income for the three months ended in Mar. 2024 was Rp-941,969 Mil. PT Goto Gojek Tokopedia Tbk's Revenue for the three months ended in Mar. 2024 was Rp4,079,226 Mil. Therefore, PT Goto Gojek Tokopedia Tbk's Operating Margin % for the quarter that ended in Mar. 2024 was -23.09%.

Good Sign:

PT Goto Gojek Tokopedia Tbk operating margin is expanding. Margin expansion is usually a good sign.

PT Goto Gojek Tokopedia Tbk's 5-Year average Growth Rate for Operating Margin % was 36.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. PT Goto Gojek Tokopedia Tbk's annualized ROC % for the quarter that ended in Mar. 2024 was -14.93%. PT Goto Gojek Tokopedia Tbk's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was -372.17%.

PT Goto Gojek Tokopedia Tbk Operating Income Historical Data

The historical data trend for PT Goto Gojek Tokopedia Tbk'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.

PT Goto Gojek Tokopedia Tbk Operating Income Chart

PT Goto Gojek Tokopedia Tbk Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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-21,023,937.00

-10,166,977.00

-22,384,656.00

-30,329,628.00

-10,278,970.00

PT Goto Gojek Tokopedia Tbk Quarterly Data
	Dec18	Dec19	Dec20	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Operating Income	Get a 7-Day Free Trial										-4,044,959.00	-2,064,280.00	-2,690,491.00	-1,479,240.00	-941,969.00

PT Goto Gojek Tokopedia Tbk 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 Rp-7,175,980 Mil.

PT Goto Gojek Tokopedia Tbk (ISX:GOTO) Operating Income Explanation

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

PT Goto Gojek Tokopedia Tbk'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 )
=	-3767876 * ( 1 - 2.35% )	/	( (26178539	+	23115021)	/ 2 )
=	-3679330.914	/	24646780
=	-14.93 %

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	))
=	54097256	-	7123970	-	( 27758334	-	max(0, 12822544	-	33617291	+	27758334	))
=	26178539

	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	))
=	47735756	-	4763648	-	( 23425787	-	max(0, 9210737	-	29067824	+	23425787	))
=	23115021

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

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

PT Goto Gojek Tokopedia Tbk'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 )
=	-3327172	/	( ( (1038618 + max(-8778333, 0))	+	(749377 + max(-6652873, 0)) )	/	2 )
=	-3327172	/	( ( 1038618	+	749377 )	/	2 )
=	-3327172	/	893997.5
=	-372.17 %

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)
=	(601244	+	71426	+	2468837)	-	(7123970	+	0	+	4795870)
=	-8778333

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(687495	+	75735	+	888923)	-	(4763648	+	0	+	3541378)
=	-6652873

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 %:

PT Goto Gojek Tokopedia Tbk'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 )
	=	-941969	/	4079226
	=	-23.09 %

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.

PT Goto Gojek Tokopedia Tbk Operating Income Related Terms

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PT Goto Gojek Tokopedia Tbk (ISX:GOTO) Business Description

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Address

Jalan Iskandarsyah II No. 2, Gedung Pasaraya Blok M, 6-7th Floor, Jakarta, IDN, 12160

Website

https://www.gotocompany.com

GoTo is an Indonesian ecosystem that combines e-commerce, ride-hailing, delivery, and financial services under one app. The company operates primarily in Indonesia and is the product of a merger between Gojek and Tokopedia in May 2021. The company has 64 million active paying users and 12 million merchants as of 2022 on its platform. In 2022, on-demand accounted for 55% of revenue, e-commerce for 37%, and financial services for 8%. However, 82% of nonfinancial services gross transactional value comes from e-commerce, as it is the focal point in the ecosystem. The company competes with giants such as Sea-backed Shopee, Alibaba's Lazada, and smaller peers such as Bukalapak in e-commerce—and with Grab in the ride-hailing and delivery business.

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