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Sothebys (Sothebys) EBIT : $187 Mil (TTM As of Jun. 2019)


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What is Sothebys EBIT?

Sothebys's earnings before interest and taxes (EBIT) for the three months ended in Jun. 2019 was $97 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2019 was $187 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Sothebys's annualized ROC % for the quarter that ended in Jun. 2019 was 18.83%. Sothebys's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2019 was 80.59%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Sothebys's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2019 was 7.05%.


Sothebys EBIT Historical Data

The historical data trend for Sothebys'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.

Sothebys EBIT Chart

Sothebys Annual Data
Trend Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 225.97 202.04 127.04 173.90 172.66

Sothebys Quarterly Data
Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19 Jun19
EBIT Get a 7-Day Free Trial 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 82.78 -26.99 119.04 -1.44 96.56

Competitive Comparison of Sothebys's EBIT

For the Specialty Retail subindustry, Sothebys'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.


Sothebys's EV-to-EBIT Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Sothebys's EV-to-EBIT distribution charts can be found below:

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



Sothebys 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 Jun. 2019 adds up the quarterly data reported by the company within the most recent 12 months, which was $187 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.


Sothebys  (NYSE:BID) EBIT Explanation

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

Sothebys's annualized ROC % for the quarter that ended in Jun. 2019 is calculated as:

ROC % (Q: Jun. 2019 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2019 ) + Invested Capital (Q: Jun. 2019 ))/ count )
=437.228 * ( 1 - 32.32% )/( (1554.169 + 1588.343)/ 2 )
=295.9159104/1571.256
=18.83 %

where

Invested Capital(Q: Mar. 2019 )
=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))
=2583.321 - 904.82 - ( 124.332 - max(0, 947.489 - 1095.612+124.332))
=1554.169

Invested Capital(Q: Jun. 2019 )
=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))
=2750.588 - 1118.2 - ( 132.137 - max(0, 1159.216 - 1203.261+132.137))
=1588.343

Note: The Operating Income data used here is four times the quarterly (Jun. 2019) data.

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

Sothebys's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2019 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2019 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2019  Q: Jun. 2019
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=386.24/( ( (475.214 + max(-50.018, 0)) + (483.293 + max(-120.817, 0)) )/ 2 )
=386.24/( ( 475.214 + 483.293 )/ 2 )
=386.24/479.2535
=80.59 %

where Working Capital is:

Working Capital(Q: Mar. 2019 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(764.059 + 43.137 + 59.662) - (904.82 + 0 + 12.056)
=-50.018

Working Capital(Q: Jun. 2019 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(900.362 + 32.204 + 79.295) - (1118.2 + 0 + 14.478)
=-120.817

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2019) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Jun. 2019 )
=187.165/2656.520
=7.05 %

* 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.


Sothebys EBIT Related Terms

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Sothebys (Sothebys) Business Description

Traded in Other Exchanges
N/A
Address
1334 York Avenue, New York, NY, USA, 10021
Sothebys is a global art business based in the United States. Its operations are organized under two segments: agency and finance. The agency business provides an auction space or private sale arrangements for sellers and buyers of fine art, decorative art, wine, jewelry and collectibles. The finance segment provides financing activities for collectors and art dealers. Sotheby's auction commissions include those paid by both buyer and seller, both of which are calculated as a percentage of the price of the property sold at auction. Sotheby's private sale commissions are part of a legally binding agreement between Sotheby's and the seller.
Executives
Jessica M Bibliowicz director NATIONAL FINANCIAL PARTNERS CORP., 340 MADISON AVENUE, 20TH FL, NEW YORK NY 10173
Dennis M Weibling director 2300 CARILLON POINT, KIRKLAND WA 98033
Jill Bright officer: EVP of HR and Administration 1334 YORK AVENUE, NEW YORK NY 10021
Michael F Goss officer: EVP, Chief Financial Officer BAIN CAPITAL PARTNERS LLC, JOHN HANCOCK TOWER, 200 CLARENDON STREET, BOSTON MA 02116
Michael J Wolf director 401 CITY AVENUE, SUITE 809, BALA CYNWYD PA 19004
Smith, Jr. Thomas S. director, officer: President and CEO 2 PENN PLAZA, NEW YORK NY 10121
Kevin C. Conroy director C/O NEWELL RUBBERMAID INC., 3 GLENLAKE PKWY., ATLANTA GA 30328
Sole Domenico De director C/O GAP, INC., 2 FOLSOM ST., SAN FRANCISCO CA 94105
Diana L Taylor director ALLINAZ GLOBAL INVESTORS, 1345 AVENUE OF THE AMERICAS, NEW YORK NY 10106
Daniel S Loeb director, 10 percent owner, other: See Remarks THIRD POINT LLC, 390 PARK AVENUE, NEW YORK NY 10022
Third Point Llc 10 percent owner 55 HUDSON YARDS, NEW YORK NY 10001
Harry James Wilson director VISTEON CORPORATION, ONE VILLAGE CENTER DRIVE, VAN BUREN TOWNSHIP MI 48111
Patrick Drahi 10 percent owner WIESTISTRASSE 14, ZERMATT V8 3920
Kevin M Delaney officer: SVP, Corp. Controller & CAO IMAX CORPORATION, 902 BROADWAY, 20TH FLOOR, NEW YORK NY 10010-6002
Lisa Nadler officer: EVP, WW Chief HR Officer 1334 YORK AVE, NEW YORK NY 10021