Precision Castparts (Precision Castparts) EBIT : $2,333 Mil (TTM As of Sep. 2015)

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What is Precision Castparts EBIT?

Precision Castparts's earnings before interest and taxes (EBIT) for the three months ended in Sep. 2015 was $549 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2015 was $2,333 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Precision Castparts's annualized ROC % for the quarter that ended in Sep. 2015 was 8.24%. Precision Castparts's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2015 was 45.40%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Precision Castparts's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2015 was 7.22%.

Precision Castparts EBIT Historical Data

The historical data trend for Precision Castparts'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.

Precision Castparts EBIT Chart

Precision Castparts Annual Data

Trend

Mar06

Mar07

Mar08

Mar09

Mar10

Mar11

Mar12

Mar13

Mar14

Mar15

EBIT

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1,506.00

1,823.50

2,164.00

2,664.00

2,608.00

Precision Castparts Quarterly Data
	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15
EBIT	Get a 7-Day Free Trial															707.00	671.00	493.00	620.00	549.00

Competitive Comparison of Precision Castparts's EBIT

For the Metal Fabrication subindustry, Precision Castparts'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.

Precision Castparts's EV-to-EBIT Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Precision Castparts's EV-to-EBIT distribution charts can be found below:

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

Precision Castparts 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 Sep. 2015 adds up the quarterly data reported by the company within the most recent 12 months, which was $2,333 Mil.

Precision Castparts (NYSE:PCP) EBIT Explanation

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

Precision Castparts's annualized ROC % for the quarter that ended in Sep. 2015 is calculated as:

	ROC % (Q: Sep. 2015 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2015 )	+	Invested Capital (Q: Sep. 2015 ))	/ count )
=	2192 * ( 1 - 32.75% )	/	( (17669	+	18106)	/ 2 )
=	1474.12	/	17887.5
=	8.24 %

where

	Invested Capital		(Q: Jun. 2015 )
=	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	))
=	20382	-	1657	-	( 1056	-	max(0, 2196	-	6569	+	1056	))
=	17669

	Invested Capital		(Q: Sep. 2015 )
=	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	))
=	20189	-	1451	-	( 632	-	max(0, 2013	-	6152	+	632	))
=	18106

Note: The Operating Income data used here is four times the quarterly (Sep. 2015) data.

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

Precision Castparts's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2015 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2015 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2015		Q: Sep. 2015
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	2196	/	( ( (2546 + max(2179, 0))	+	(2588 + max(2361, 0)) )	/	2 )
=	2196	/	( ( 4725	+	4949 )	/	2 )
=	2196	/	4837
=	45.40 %

where Working Capital is:

	Working Capital		(Q: Jun. 2015 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	3760	+	109)	-	(1657	+	22	+	11)
=	2179

	Working Capital		(Q: Sep. 2015 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	3769	+	98)	-	(1451	+	44	+	11)
=	2361

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2015) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2015 )
	=	2333	/	32326.360
	=	7.22 %

Precision Castparts EBIT Related Terms

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Precision Castparts (Precision Castparts) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Precision Castparts Corp (NYSE:PCP) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

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Address

Website

http://www.precast.com

Precision Castparts Corp was incorporated in the State of Oregon. The Company is a manufacturer of complex metal components and products provides high-quality investment castings, forgings and fasteners/fastener systems for critical aerospace and power applications. It also provides investment castings and forgings for general industrial, armament, medical and other applications; nickel alloys and mill forms, as well as cobalt alloys, for the aerospace, chemical processing, oil and gas, pollution control and other industries; seamless pipe for coal-fired, industrial gas turbine, and nuclear power plants, as well as oil and gas applications; fasteners for automotive and general industrial markets; specialty alloys for the investment casting industry; refiner plates, screen cylinders and other products for the pulp and paper industry; metal-injection-molded and ThixoFormedparts for automotive and other markets; grinder pumps and affiliated components for low pressure sewer systems; critical auxiliary equipment and gas monitoring systems for the power generation industry; and metalworking tools for the fastener market and other applications. It manufactures complex metal components and products in three main business segments: Investment Cast Products, Forged Products and Fastener Products. The Company's Investment Cast Products segment manufactures investment castings for aircraft engines, IGT engines, airframes, medical prostheses, armament, unmanned aerial vehicles and other industrial applications. The segment also provides alloys to PCC's investment casting operations, as well as to other investment casting companies. It manufactures forged components for the aerospace and power generation markets. Forged Products' aerospace and IGT sales are mainly derived from the same large engine customers served by the Investment Cast Products segment, with additional aerospace sales to manufacturers of landing gear and airframes. Therefore, the dynamics of the aerospace and IGT markets, as described in the Investment Cast Products section above, are virtually the same for Forged Products. It manufactures forged components for the aerospace and power generation markets. Forged Products' aerospace and IGT sales are mainly derived from the same large engine customers served by the Investment Cast Products segment, with additional aerospace sales to manufacturers of landing gear and airframes. Therefore, the dynamics of the aerospace and IGT markets, as described in the Investment Cast Products section above, are virtually the same for Forged Products. The Company's main competitors are Ladish Co., a subsidiary of Allegheny Technologies, Inc., Fortech, S.A. and Thyssen AG for aerospace turbine products, Alcoa Inc. and Firth Rixson Limited for aerospace structural products, Vallourec & Mannesmann Tubes and Sumitomo Corporation for energy products and Allegheny Technologies, Inc., Carpenter Technology Corporation, Haynes International, Inc., an

Executives

Ulrich Schmidt	director	PRECISION CASTPARTS CORP., 4650 SW MACADAM AVENUE, SUITE 400, PORTLAND OR 97239
Richard L Wambold	director	C/O PACTIV CORP, 1900 W FIELD COURT, LAKE FOREST IL 60045
Lester L Lyles	director	C/O MTC TECHNOLOGIES INC, 4032 LINDEN AVENUE, DAYTON OH 45432
Timothy A Wicks	director	C/O PRECISION CASTPARTS CORP., 4650 SW MACADAM AVENUE, SUITE 400, PORTLAND OR 97239
Andrew Masterman	officer: EVP, Pres. Wyman-Gordon	401 PLYMOUTH ROAD, SUITE 500, PLYMOUTH MEETING PA 19462-1646
Kevin M Stein	officer: Exec VP	TRANSDIGM GROUP INCORPORATED, 1301 EAST 9TH STREET, SUITE 3000, CLEVELAND OH 44114
Steven G Rothmeier	director	C/O E.W BLANCH HOLDINGS INC, 500 N. AKARD #4500, DALLAS TX 75201
Russell S Pattee	officer: VP and Corporate Controller	PRECISION CASTPARTS CORP., 4650 SW MACADAM AVENUE, SUITE 400, PORTLAND OR 97239
Chris Ayers	officer: Exec. VP, Pres. PCC Forgings	4650 S.W. MACADAM, SUITE #440, PORTLAND OR 97239
William D Larsson	officer: Sr. VP and CFO	35 SHARPS CIRCLE, RENO NV 89519
Byron O Pond	director	C/O GSI GROUP INC., 125 MIDDLESEX TURNPIKE, BEDFORD MA 01730-1409
Wayne F Robbins	officer: President; PCC Flow Technologi	4650 SW MACADAM, STE 440, PORTLAND OR 97239