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Education Management (Education Management) EBIT : $79 Mil (TTM As of Jun. 2014)


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What is Education Management EBIT?

Education Management's earnings before interest and taxes (EBIT) for the three months ended in Jun. 2014 was $-6 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2014 was $79 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Education Management's annualized ROC % for the quarter that ended in Jun. 2014 was -3.44%. Education Management's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2014 was -4.41%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield.


Education Management EBIT Historical Data

The historical data trend for Education Management'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.

Education Management EBIT Chart

Education Management Annual Data
Trend Jun05 Jun06 Jun07 Jun08 Jun09 Jun10 Jun11 Jun12 Jun13 Jun14
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 371.60 501.27 337.09 197.65 78.97

Education Management Quarterly Data
Sep09 Dec09 Mar10 Jun10 Sep10 Dec10 Mar11 Jun11 Sep11 Dec11 Mar12 Jun12 Sep12 Dec12 Mar13 Jun13 Sep13 Dec13 Mar14 Jun14
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 22.26 11.92 33.08 40.40 -6.43

Competitive Comparison of Education Management's EBIT

For the Education & Training Services subindustry, Education Management'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.


Education Management's EV-to-EBIT Distribution in the Education Industry

For the Education industry and Consumer Defensive sector, Education Management's EV-to-EBIT distribution charts can be found below:

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



Education Management 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. 2014 adds up the quarterly data reported by the company within the most recent 12 months, which was $79 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.


Education Management  (OTCPK:EDMCQ) EBIT Explanation

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

Education Management's annualized ROC % for the quarter that ended in Jun. 2014 is calculated as:

ROC % (Q: Jun. 2014 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2014 ) + Invested Capital (Q: Jun. 2014 ))/ count )
=-25.7 * ( 1 - -97.69% )/( (1508.902 + 1445.905)/ 2 )
=-50.80633/1477.4035
=-3.44 %

where

Invested Capital(Q: Mar. 2014 )
=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))
=1877.35 - 190.98 - ( 177.468 - max(0, 454.021 - 812.524+177.468))
=1508.902

Invested Capital(Q: Jun. 2014 )
=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))
=1877.036 - 190.49 - ( 270.567 - max(0, 635.325 - 875.966+270.567))
=1445.905

Note: The Operating Income data used here is four times the quarterly (Jun. 2014) data.

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

Education Management's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2014 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2014 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2014  Q: Jun. 2014
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-25.7/( ( (442.902 + max(149.734, 0)) + (429.457 + max(143.931, 0)) )/ 2 )
=-25.7/( ( 592.636 + 573.388 )/ 2 )
=-25.7/583.012
=-4.41 %

where Working Capital is:

Working Capital(Q: Mar. 2014 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(176.847 + 0 + 415.033) - (190.98 + 239.304 + 11.862)
=149.734

Working Capital(Q: Jun. 2014 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(210.182 + 0 + 337.309) - (190.49 + 197.725 + 15.345)
=143.931

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2014) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Jun. 2014 )
=78.97/0.000
= %

* 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.


Education Management EBIT Related Terms

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Education Management (Education Management) Business Description

Traded in Other Exchanges
N/A
Address
210 Sixth Avenue, 33rd Floor, Pittsburgh, PA, USA, 15222
Education Management Corp provides post-secondary education in North America. It offers academic programs to students through campus-based and online instruction, or through a combination of both. The company operates in four segments including The Art Institutes; Argosy University; Brown Mackie Colleges and South University. The Art Institutes focus on applied arts in creative professions such as graphic design, media arts, and animation, culinary arts. Brown Mackie Colleges offer flexible Associate's and non-degree diploma programs that enable students to develop skills for entry-level positions in high-demand vocational specialties. South University offers academic programs in health profession and business disciplines, health sciences, nursing, criminal justice, psychology, and IT.
Executives
Carol Dibattiste officer: See Remarks 1155 W FREDERICK SMALL RD, JUPITER FL 33458
Mick J Beekhuizen officer: See Remarks C/O GOLDMAN, SACHS & CO., 85 BROAD STREET, NEW YORK NY 10004
Edward H West director, officer: See Remarks 3250 BRIARPARK DR, SUITE 400, HOUSTON TX 77042
Citigroup Inc 10 percent owner 388 GREENWICH STREET, NEW YORK NY 10013
James Hobby officer: See Remarks 400 N ASHLEY DRIVE SUITE 2800 TAMPA FL 33602
John Robert Kline officer: See Remarks PERDOCEO EDUCATION CORPORATION, 1750 E. GOLF ROAD, SCHAUMBURG IL 60173
Jonathan M Nelson 10 percent owner C/O PROVIDENCE EQUITY PARTNERS, L.L.C., 50 KENNEDY PLAZA, 18TH FL, PROVIDENCE RI 02903
Robert G. Hrivnak officer: See Remarks C/O ORION ENGINEERED CARBONS S.A., 4501 MAGNOLIA COVE DRIVE, SUITE 106, HOUSTON TX 77345
Jeffrey T Leeds director 660 MADISON AVE 15TH FL, NEW YORK NY 10021
Samuel C Cowley director 2200 SOUTH 75TH AVENUE, PHOENIX AZ 85043
Brian A. Napack director C/O JOHN WILEY & SONS, INC., 111 RIVER STREET, HOBOKEN NJ 07030
Providence Equity Gp Iv L.p. 10 percent owner 50 KENNEDY PLAZA, PROVIDENCE RI 02903
Providence Equity Partners Iv, L.l.c. 10 percent owner 50 KENNEDY PLAZA, PROVIDENCE RI 02903
Providence Equity Partners Iv Lp 10 percent owner
William R Johnson director UNITED PARCEL SERVICE, INC., 55 GLENLAKE PARKWAY, NE, ATLANTA GA 30328

Education Management (Education Management) Headlines

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