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VF (VFC) EBIT : $196 Mil (TTM As of Dec. 2023)


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What is VF EBIT?

VF's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $2 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $196 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. VF's annualized ROC % for the quarter that ended in Dec. 2023 was 6.05%. VF's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 0.20%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. VF's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 1.72%.


VF EBIT Historical Data

The historical data trend for VF'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.

VF EBIT Chart

VF Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,146.05 819.25 592.13 1,659.72 217.68

VF Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
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 510.05 -163.02 -7.07 364.23 2.01

Competitive Comparison of VF's EBIT

For the Apparel Manufacturing subindustry, VF'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.


VF's EV-to-EBIT Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, VF's EV-to-EBIT distribution charts can be found below:

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



VF 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 $196 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.


VF  (NYSE:VFC) EBIT Explanation

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

VF'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 )
=899.456 * ( 1 - 35.23% )/( (10122.849 + 9133.43)/ 2 )
=582.5776512/9628.1395
=6.05 %

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))
=13142.352 - 2520.591 - ( 498.912 - max(0, 3544.833 - 5243.562+498.912))
=10122.849

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))
=12616.474 - 2544.401 - ( 988.006 - max(0, 3997.283 - 4935.926+988.006))
=9133.43

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

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

VF'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 )
=8.032/( ( (2224.214 + max(2224.059, 0)) + (2227.69 + max(1403.519, 0)) )/ 2 )
=8.032/( ( 4448.273 + 3631.209 )/ 2 )
=8.032/4039.741
=0.20 %

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)
=(1889.804 + 2481.051 + 373.795) - (2520.591 + 0 + 4.5474735088646E-13)
=2224.059

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1314.139 + 2148.219 + 485.562) - (2544.401 + 0 + 0)
=1403.519

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:

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2023 )
=196.144/11404.596
=1.72 %

* 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.


VF EBIT Related Terms

Thank you for viewing the detailed overview of VF's EBIT provided by GuruFocus.com. Please click on the following links to see related term pages.


VF (VFC) Business Description

Address
1551 Wewatta Street, Denver, CO, USA, 80202
VF designs, produces, and distributes branded apparel, footwear, and accessories. Its apparel categories are active, outdoor, and work. Its portfolio of about a dozen brands includes Vans, The North Face, Timberland, Supreme, and Dickies. VF markets its products in the Americas, Europe, and Asia-Pacific through wholesale sales to retailers, e-commerce, and branded stores owned by the company and partners. The company has grown through multiple acquisitions and traces its roots to 1899.
Executives
Matthew J Shattock director 510 LAKE COOK ROAD, DEERFIELD IL 60015
Brent Hyder officer: EVP, Chief People Officer 415 MISSION STREET, 3RD FLOOR, SAN FRANCISCO CA 94105
Trevor A Edwards director 2080 NW 133RD PLACE, PORTLAND OR 97229
Richard Carucci director 1441 GARDINER LANE, LOUISVILLE KY 47113
Bracken Darrell officer: President & Chief Exec Officer 2000 M-63N, BENTON HARBOR MI 49022
Juliana L Chugg director 1200 WILLOW LAKE BOULEVARD, PO BOX 64683, ST PAUL MN 55164-0683
Benno O Dorer director 1221 BROADWAY, OAKLAND CA 94612
Clarence Jr Otis director 1095 AVENUE OF THE AMERICAS, NEW YORK NY 10036
Mark Samuel Hoplamazian director 71 SOUTH WACKER DRIVE, SUITE 4700, CHICAGO IL 60606
Anita Z Graham officer: EVP, CHRO & Public Affairs C/O THE ADT CORPORATION, 1501 YAMATO ROAD, BOCA RATON FL 33431
Nicole Beth Otto officer: EVP & Global Brand Pres. TNF C/O CONTAINER STORE GROUP, INC., 500 FREEPORT PARKWAY, COPPELL TX 75019
W Rodney Mcmullen director 1014 VINE ST, CINCINNATI OH 45202
Alex Cho director HP, 1501 PAGE MILL ROAD, PALO ALTO CA 94304
Matthew H Puckett officer: EVP & Chief Financial Officer 1551 WEWATTA STREET, DENVER CO 80202
Jennifer S. Sim officer: EVP, GC & Secretary 1551 WEWATTA STREET, DENVER CO 80202

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