Surf Air Mobility (Surf Air Mobility) Operating Income : $-159.14 Mil (TTM As of Mar. 2024)

View and export this data going back to 2023. Start your Free Trial

What is Surf Air Mobility Operating Income?

Surf Air Mobility's Operating Income for the three months ended in Mar. 2024 was $-34.47 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2024 was $-159.14 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Surf Air Mobility's Operating Income for the three months ended in Mar. 2024 was $-34.47 Mil. Surf Air Mobility's Revenue for the three months ended in Mar. 2024 was $30.62 Mil. Therefore, Surf Air Mobility's Operating Margin % for the quarter that ended in Mar. 2024 was -112.56%.

Surf Air Mobility'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. Surf Air Mobility's annualized ROC % for the quarter that ended in Mar. 2024 was -83.58%. Surf Air Mobility's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was -232.67%.

Surf Air Mobility Operating Income Historical Data

The historical data trend for Surf Air Mobility'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.

Surf Air Mobility Operating Income Chart

Surf Air Mobility Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Operating Income

-20.76

-33.35

-50.90

-136.72

Surf Air Mobility Quarterly Data
	Dec20	Jun21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Operating Income	Get a 7-Day Free Trial							-12.05	-13.15	-63.02	-48.50	-34.47

Surf Air Mobility 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 $-159.14 Mil.

Surf Air Mobility (NYSE:SRFM) Operating Income Explanation

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

Surf Air Mobility'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 )
=	-137.88 * ( 1 - 0.12% )	/	( (159.228	+	170.292)	/ 2 )
=	-137.714544	/	164.76
=	-83.58 %

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	))
=	110.989	-	74.139	-	( 1.72	-	max(0, 140.114	-	17.736	+	1.72	))
=	159.228

	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	))
=	108.786	-	87.251	-	( 1.278	-	max(0, 165.47	-	16.713	+	1.278	))
=	170.292

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

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

Surf Air Mobility'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 )
=	-141.36	/	( ( (61.189 + max(-103.91, 0))	+	(60.321 + max(-128.902, 0)) )	/	2 )
=	-141.36	/	( ( 61.189	+	60.321 )	/	2 )
=	-141.36	/	60.755
=	-232.67 %

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)
=	(4.965	+	0	+	11.051)	-	(74.139	+	19.011	+	26.776)
=	-103.91

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4.71	+	0	+	10.725)	-	(87.251	+	18.122	+	38.964)
=	-128.902

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 %:

Surf Air Mobility'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 )
	=	-34.47	/	30.624
	=	-112.56 %

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.

Surf Air Mobility Operating Income Related Terms

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

Surf Air Mobility (Surf Air Mobility) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Surf Air Mobility Inc (NYSE:SRFM) » Definitions » Operating Income

Comparable Companies

Traded in Other Exchanges

N/A

Address

12111 S. Crenshaw Boulevard, Hawthorne, California 90250, Hawthorne, CA, USA, 90250

Website

https://www.surfair.com

Surf Air Mobility Inc provides a regional air mobility platform with scheduled routes and on demand charter flights operated by third-party Part 135 charter operators. It generates revenue through the sale of membership products, non-member single seats, or flight products for both scheduled and on-demand flights.

Executives

Edward A. Mady	director	12111 S. CRENSHAW BLVD., HAWTHORNE CA 90250
Bruce L. Hack	director	6060 CENTER DRIVE, 5TH FLOOR, LOS ANGELES CA 90045
Carl A Albert	director	C/O BOISE INC., 1111 WEST JEFFERSON STREET, SUITE 200, BOISE ID 83702-5388
John J. D'agostino	director	201 E 79TH STREET 6A, NEW YORK CITY NY 10075
Tyler Painter	director	C/O SURF AIR MOBILITY, 12111 S. CRENSHAW BLVD., HAWTHORNE CA 90250
Sudhin Shahani	director	12111 S. CRENSHAW BLVD., HAWTHORNE CA 90250
Deanna Leigh White	officer: Chief Financial Officer	12111 S. CRENSHAW BLVD., HAWTHORNE CA 90250
Tyrone D. Bland	director	12111 S. CRENSHAW BLVD., HAWTHORNE CA 90250
Robert S. Little	director, officer: Chief Executive Officer	12111 S. CRENSHAW BLVD., HAWTHORNE CA 90250