Profitability Indices | INPEX CORPORATION

EBIDAX = Net income + Minority interests + Deferred tax + (1 –Tax rate) x (Interest expense –Interest income) + Exchange profit and loss + Depreciation and amortization + Amortization of goodwill + Amortization of exploration and development right + Recovery of recoverable accounts under production sharing (Capital expenditure) + Exploration expenses + Provision for allowance for recoverable accounts under production sharing.
Gross margin=Gross profit / Net sales
Operating margin=Operating income / Net sales
Net margin = Net income / Net sales

¥ million

Years ended March 31	2007	2008	2009	2010
Net sales	969,712	1,202,965	1,076,164	840,027
Crude oil sales	607,400	783,465	650,352	486,920
Natural gas sales (Including LPG)	332,937	391,090	398,266	326,412
Other sales	29,375	28,409	27,545	27,094
Cost of sales	343,794	390,554	319,038	298,167
Gross profit	625,918	812,410	757,126	542,259
Operating income	559,077	714,211	663,266	461,667
Net income	165,091	173,245	145,062	107,210
EBIDAX (Earning Before Interest, Depreciation and Amortization, and Exploration)	321,787	382,649	275,865	242,539
Gross margin	64.5%	67.5%	70.2%	64.5%
Operating margin	57.7%	59.4%	61.6%	54.9%
Net margin	17.0%	14.4%	13.5%	12.8%