Barry Callebaut AG (XSWX:BARN) Operating Income : CHF648 Mil (TTM As of Feb. 2024)

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What is Barry Callebaut AG Operating Income?

Barry Callebaut AG's Operating Income for the six months ended in Feb. 2024 was CHF320 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2024 was CHF648 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Barry Callebaut AG's Operating Income for the six months ended in Feb. 2024 was CHF320 Mil. Barry Callebaut AG's Revenue for the six months ended in Feb. 2024 was CHF4,643 Mil. Therefore, Barry Callebaut AG's Operating Margin % for the quarter that ended in Feb. 2024 was 6.89%.

Barry Callebaut AG's 5-Year average Growth Rate for Operating Margin % was -0.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Barry Callebaut AG's annualized ROC % for the quarter that ended in Feb. 2024 was 5.45%. Barry Callebaut AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2024 was 10.13%.

Barry Callebaut AG Operating Income Historical Data

The historical data trend for Barry Callebaut AG'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.

Barry Callebaut AG Operating Income Chart

Barry Callebaut AG Annual Data

Trend

Aug14

Aug15

Aug16

Aug17

Aug18

Aug19

Aug20

Aug21

Aug22

Aug23

Operating Income

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613.74

506.46

581.44

647.52

682.48

Barry Callebaut AG Semi-Annual Data
	Aug14	Feb15	Aug15	Feb16	Aug16	Feb17	Aug17	Feb18	Aug18	Feb19	Aug19	Feb20	Aug20	Feb21	Aug21	Feb22	Aug22	Feb23	Aug23	Feb24
Operating Income	Get a 7-Day Free Trial															323.65	323.87	354.78	327.70	320.04

Barry Callebaut AG 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 Feb. 2024 adds up the semi-annually data reported by the company within the most recent 12 months, which was CHF648 Mil.

Barry Callebaut AG (XSWX:BARN) Operating Income Explanation

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

Barry Callebaut AG's annualized ROC % for the quarter that ended in Feb. 2024 is calculated as:

	ROC % (Q: Feb. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Aug. 2023 )	+	Invested Capital (Q: Feb. 2024 ))	/ count )
=	640.088 * ( 1 - 27.55% )	/	( (6348.546	+	10664.598)	/ 2 )
=	463.743756	/	8506.572
=	5.45 %

where

	Invested Capital		(Q: Aug. 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	))
=	8432.748	-	1569.237	-	( 514.965	-	max(0, 4197.402	-	5521.755	+	514.965	))
=	6348.546

	Invested Capital		(Q: Feb. 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	))
=	13325.54	-	2232.989	-	( 427.953	-	max(0, 8188.378	-	10388.983	+	427.953	))
=	10664.598

Note: The Operating Income data used here is two times the semi-annual (Feb. 2024) data.

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

Barry Callebaut AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Feb. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Aug. 2023		Q: Feb. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	382.816	/	( ( (1771.726 + max(1173.237, 0))	+	(1808.365 + max(2805.963, 0)) )	/	2 )
=	382.816	/	( ( 2944.963	+	4614.328 )	/	2 )
=	382.816	/	3779.6455
=	10.13 %

where Working Capital is:

	Working Capital		(Q: Aug. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(532.548	+	2925.732	+	1251.389)	-	(1569.237	+	0	+	1967.195)
=	1173.237

	Working Capital		(Q: Feb. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2088.288	+	4809.647	+	3063.095)	-	(2232.989	+	0	+	4922.078)
=	2805.963

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Feb. 2024) EBIT data.

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

Barry Callebaut AG's Operating Margin % for the quarter that ended in Feb. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Feb. 2024 )	/	Revenue (Q: Feb. 2024 )
	=	320.044	/	4642.995
	=	6.89 %

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.

Barry Callebaut AG Operating Income Related Terms

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Barry Callebaut AG (XSWX:BARN) Business Description

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GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Barry Callebaut AG (XSWX:BARN) » Definitions » Operating Income

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BRRLY:USA BYCBF:USA BARNz:UK 0QO7:UK BCLM:Germany

Address

Hardturmstrasse 181, Zurich, CHE, 8005

Website

https://www.barry-callebaut.com

Barry Callebaut is a significant manufacturer and supplier of cocoa and chocolate ingredients, employing over 13,000 people. Customers include food and beverage makers as well as craftspeople, chocolatiers, pastry chefs, and bakers who utilize chocolate professionally. Barry Callebaut is vertically integrated from raw material (cocoa bean) procurement through chocolate manufacture, while not owning any cocoa farms. The firm produces around 40% of the world's industrial chocolate (open market), and its products are used in approximately 20% of the world's chocolate and cocoa goods. Barry Callebaut's sustainability endeavors are reflected in the fact that the company's Sustainalytics ESG Risk Rating is one of the lowest in its subcategory and first among its peers.

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