SELECT id, `name`, primary_key, `key`, treemapgroup, name_cn, zacks_table_name, compare_key, compare_display_name from gurufocu_main.financial_definition where termpagedisplay=1 and `key` = 'EBIT' Alcoa (AA) EBIT
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Alcoa Corp (NYSE:AA) » Definitions » EBIT

Alcoa (AA) EBIT

: $-477 Mil (TTM As of Dec. 2023)
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Alcoa's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $-49 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $-477 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Alcoa's annualized ROC % for the quarter that ended in Dec. 2023 was -14.37%. Alcoa's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -2.72%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Alcoa's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -6.49%.

Alcoa EBIT Historical Data

The historical data trend for Alcoa's EBIT 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.

Alcoa Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
EBIT
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -317.00 319.00 1,394.00 808.00 -477.00

Alcoa Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
EBIT Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -214.00 -154.00 -72.00 -202.00 -49.00
Competitive Comparison

For the Aluminum subindustry, Alcoa's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Alcoa EV-to-EBIT Distribution

For the Metals & Mining industry and Basic Materials sector, Alcoa's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Alcoa's EV-to-EBIT falls into.


Alcoa EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-477 Mil.

* 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.

Alcoa  (NYSE:AA) EBIT Explanation

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

Alcoa'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: Sep. 2023 ) + Invested Capital (Q: Dec. 2023 ))/ count )
=-556 * ( 1 - -194.81% )/( (11409 + 11409)/ 2 )
=-1639.1436/11409
=-14.37 %

where

Invested Capital(Q: Sep. 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))
=13917 - 1582 - ( 926 - max(0, 2624 - 4365+926))
=11409

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))
=14155 - 1802 - ( 944 - max(0, 3030 - 4405+944))
=11409

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

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

Alcoa'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: Sep. 2023  Q: Dec. 2023
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-196/( ( (6532 + max(711, 0)) + (6785 + max(358, 0)) )/ 2 )
=-196/( ( 7243 + 7143 )/ 2 )
=-196/7193
=-2.72 %

where Working Capital is:

Working Capital(Q: Sep. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(691 + 2190 + 453) - (1582 + 0 + 1041)
=711

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(656 + 2158 + 495) - (1802 + 0 + 1149)
=358

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Alcoa's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2023 )
=-477/7345.344
=-6.49 %

* 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.

Alcoa EBIT Related Terms

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Alcoa (AA) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Alcoa Corp (NYSE:AA) » Definitions » EBIT
Comparable Companies
CSTM KALU CENX SHSE:601600 NSE:HINDALCO OSL:NHY HKSE:01378 XKLS:8869 BUE:ALUA SZSE:000807 MIC:RUAL SHSE:600219 BAH:ALBH SZSE:002532 SHSE:600361 MIC:ENPG SHSE:601702 BOM:532234 SHSE:601677 SZSE:300428
Traded in Other Exchanges
AA1:Mexico 1AA:Italy 185:Germany 185:Germany 185:Germany ALCA:Austria
Address
201 Isabella Street, Suite 500, Pittsburgh, PA, USA, 15212-5858
Website
https://www.alcoa.com
Alcoa Corp is a vertically integrated aluminum company whose operations include bauxite mining, alumina refining, and the manufacture of primary aluminum. It is the world's largest bauxite miner and alumina refiner by production volume, and its profits are closely tied to prevailing commodity prices along the aluminum supply chain. The company segments include Bauxite; Alumina and Aluminum. It generates maximum revenue from the Aluminum segment. Geographically, it derives a majority of its revenue from the United States.
Executives
Renee Henry officer: SVP & Controller 201 ISABELLA STREET, STE 500, PITTSBURGH PA 15212
Nicol Gagstetter officer: EVP & Chief Ext. Aff. Officer 201 ISABELLA STREET, SUITE 500, PITTSBURGH PA 15212
Andrew Hastings officer: EVP & Gen. Counsel 201 ISABELLA STREET, SUITE 500, PITTSBURGH PA 15212
De Oliveira Marques Roberto director C/O MONDELEZ INTERNATIONAL, INC., THREE PARKWAY NORTH, DEERFIELD IL 60048
Roy Christopher Harvey director, officer: President, CEO & Director 201 ISABELLA STREET, SUITE 500, PITTSBURGH PA 15212
Renato Bacchi officer: EVP & Chief Strategy Officer 201 ISABELLA STREET, SUITE 500, PITTSBURGH PA 15212
Harden Sonya Elam officer: EVP & Chief Ext. Aff. Officer 201 ISABELLA STREET, SUITE 500, PITTSBURGH PA 15212
William F Oplinger officer: Executive VP & CFO 201 ISABELLA STREET, SUITE 500, PITTSBURGH PA 15212
Jeffrey D. Heeter officer: EVP, Gen. Counsel & Secretary C/O ALCOA CORPORATION, 201 ISABELLA STREET, SUITE 500, PITTSBURGH PA 15212
Tammi A Jones officer: EVP & CHRO 201 ISABELLA STREET, SUITE 500, PITTSBURGH PA 15212
Jackson Prince Roberts director 201 ISABELLA STREET, SUITE 500, PITTSBURGH PA 15212
John D Slaven officer: EVP & Chief Strategy Officer 201 ISABELLA STREET, SUITE 500, PITTSBURGH PA 15212-5858
Kelly R. Thomas officer: EVP & Chief Commercial Officer 25825 SCIENCE PARK DRIVE, SUITE 400, BEACHWOOD OH 44122
Molly S. Beerman officer: Vice President and Controller 201 ISABELLA STREET, SUITE 500, PITTSBURGH PA 15212
Benjamin D Kahrs officer: EVP, Chief Innovation Officer 201 ISABELLA STREET, SUITE 500, PITTSBURGH PA 15212