Starwood Hotels & Resorts Worldwide (Starwood Hotels & Resorts Worldwide) EBIT : $637 Mil (TTM As of Jun. 2016)

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What is Starwood Hotels & Resorts Worldwide EBIT?

Starwood Hotels & Resorts Worldwide's earnings before interest and taxes (EBIT) for the three months ended in Jun. 2016 was $76 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2016 was $637 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Starwood Hotels & Resorts Worldwide's annualized ROC % for the quarter that ended in Jun. 2016 was -9.16%. Starwood Hotels & Resorts Worldwide's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2016 was 17.15%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Starwood Hotels & Resorts Worldwide's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2016 was 4.88%.

Starwood Hotels & Resorts Worldwide EBIT Historical Data

The historical data trend for Starwood Hotels & Resorts Worldwide'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.

Starwood Hotels & Resorts Worldwide EBIT Chart

Starwood Hotels & Resorts Worldwide Annual Data

Trend

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

EBIT

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628.00

790.00

931.00

879.00

785.00

Starwood Hotels & Resorts Worldwide Quarterly Data
	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16
EBIT	Get a 7-Day Free Trial															177.00	160.00	234.00	167.00	76.00

Competitive Comparison of Starwood Hotels & Resorts Worldwide's EBIT

For the Lodging subindustry, Starwood Hotels & Resorts Worldwide'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.

Starwood Hotels & Resorts Worldwide's EV-to-EBIT Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Starwood Hotels & Resorts Worldwide's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Starwood Hotels & Resorts Worldwide's EV-to-EBIT falls into.

Starwood Hotels & Resorts Worldwide 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. 2016 adds up the quarterly data reported by the company within the most recent 12 months, which was $637 Mil.

Starwood Hotels & Resorts Worldwide (NYSE:HOT) EBIT Explanation

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

Starwood Hotels & Resorts Worldwide's annualized ROC % for the quarter that ended in Jun. 2016 is calculated as:

	ROC % (Q: Jun. 2016 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2016 )	+	Invested Capital (Q: Jun. 2016 ))	/ count )
=	724 * ( 1 - 167.31% )	/	( (6043	+	4603)	/ 2 )
=	-487.3244	/	5323
=	-9.16 %

where

	Invested Capital		(Q: Mar. 2016 )
=	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	))
=	8444	-	2151	-	( 1180	-	max(0, 2230	-	2480	+	1180	))
=	6043

	Invested Capital		(Q: Jun. 2016 )
=	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	))
=	6922	-	1944	-	( 1575	-	max(0, 1978	-	2353	+	1575	))
=	4603

Note: The Operating Income data used here is four times the quarterly (Jun. 2016) data.

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

Starwood Hotels & Resorts Worldwide's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2016 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2016 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2016		Q: Jun. 2016
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	304	/	( ( (2068 + max(-882, 0))	+	(1478 + max(-1166, 0)) )	/	2 )
=	304	/	( ( 2068	+	1478 )	/	2 )
=	304	/	1773
=	17.15 %

where Working Capital is:

	Working Capital		(Q: Mar. 2016 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(671	+	355	+	243)	-	(2151	+	0	+	0)
=	-882

	Working Capital		(Q: Jun. 2016 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(630	+	15	+	133)	-	(1944	+	0	+	0)
=	-1166

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2016) EBIT data.

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

Starwood Hotels & Resorts Worldwide's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Jun. 2016 )
	=	637	/	13063.820
	=	4.88 %

Starwood Hotels & Resorts Worldwide EBIT Related Terms

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Starwood Hotels & Resorts Worldwide (Starwood Hotels & Resorts Worldwide) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.starwoodhotels.com

Starwood Hotels & Resorts Worldwide Inc was incorporated in 1980 under the laws of Maryland. It operates as a hotel and leisure company. The Company conducts its hotel and leisure business both directly and through its subsidiaries. It has 1,222 properties providing approximately 354,200 rooms in approximately 100 countries and 180,400 employees under its management at its owned and managed properties, vacation ownership resorts and corporate offices. The Company manage and operate its hotel business in three separate hotel segments: the Americas, Europe, Africa and the Middle East ("EAME"), and Asia Pacific. Its vacation ownership and residential business is a separate segment. It franchises its Luxury Collection, Westin, Le MÃ©ridien, Sheraton, Four Points by Sheraton, Aloft and Element brands and generally derive licensing and other fees from franchisees based on a fixed percentage of the franchised hotel's room revenue, as well as fees for other services, including centralized reservations, loyalty program, national and international advertising and sales and marketing. The Company's brands name includes St. Regis, The Luxury Collection, W, Westin, Le MÃ©ridien, Sheraton, Four Points, Aloft, and Element. Some of its competitors are private management firms, several are national and international chains that own and operate their own hotels, as well as manage hotels for third-party owners and sell VOIs, under a variety of brands that compete directly with its brands. It is subject to taxation at the federal, state or provincial and local levels in the U.S. and various other countries and jurisdictions.

Executives

Charlene Barshefsky	director
Lizanne Galbreath	director	LASALLE PARTNERS INC, 200 RANDOLPH DR, CHICAGO IL 60601
Kenneth S Siegel	officer: CAO & General Counsel	40 STARWOOD HOTELS & RESORTS, 111 WESTCHESTER AVE, WHITE PLAINS NY 10604
Thomas B Mangas	director, officer: Chief Executive Officer	C/O ARMSTRONG WORLD INDUSTRIES, INC., 2500 COLUMBIA AVENUE, LANCASTER PA 17603
Sergio Rivera	officer: President, The Americas	C/O STARWOOD HOTELS & RESORTS WORLDWIDE,, ONE STARPOINT, STAMFORD CT 06902
Stephen R Quazzo	director	C/O STARWOOD HOTELS & RESORTS WORLDWIDE, 44 SOUTH BROADWAY, WHITE PLAINS NY 10601
Daley Clayton C Jr	director	C/O THE PROCTER & GAMBLE COMPANY,, ONE PROCTER & GAMBLE PLAZA, CINCINNATI OH 45202
Thomas E Clarke	director	C/O NEWELL RUBBERMAID INC, THREE GLENLAKE PKWY., ATLANTA 2Q 30328
Thomas O Ryder	director	C/O READERS DIGEST ASSOCITATION INC, READERS DIGEST RD., PLEASANTVILLE NY 10570
Aylwin B Lewis	director	111 N. CANAL, SUITE 850, CHICAGO IL 60606
Eric Hippeau	director	STARWOOD HOTELS & RESORTS WORLDWIDE, 44 SOUTH BROADWAY, WHITE PLAINS NY 10601
Bruce W Duncan	director	ONE NORTH WACKER DRIVE, SUITE 4200, CHICAGO IL 60606
Adam M Aron	director, officer: CEO on an interim basis	AMC ENTERTAINMENT HOLDINGS, INC, 11500 ASH STREET, LEAWOOD KS 66211
Van Paasschen Frits D	director, officer: President and CEO	C/O STARWOOD HOTELS & RESORTS WORLDWIDE, 1111 WESTCHESTER AVENUE, WHITE PLAINS NY 10604
Vasant M Prabhu	officer: Vice Chairman & CFO	C/O SAFEWAY INC, 5918 STONERIDGE MALL ROAD, PLEASANTON CA 94588