CVC Property Fund (ASX:CJT) EBIT : A$2.90 Mil (TTM As of Dec. 2014)

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What is CVC Property Fund EBIT?

CVC Property Fund's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2014 was A$1.56 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2014 was A$2.90 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. CVC Property Fund's annualized ROC % for the quarter that ended in Dec. 2014 was 8.72%. CVC Property Fund's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2014 was %.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. CVC Property Fund's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2014 was 27.00%.

CVC Property Fund EBIT Historical Data

The historical data trend for CVC Property Fund'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.

CVC Property Fund EBIT Chart

CVC Property Fund Annual Data

Trend

Jun05

Jun06

Jun07

Jun08

Jun09

Jun10

Jun11

Jun12

Jun13

Jun14

EBIT

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-1.81

4.15

-0.25

2.72

1.83

CVC Property Fund Semi-Annual Data
	Jun05	Dec05	Jun06	Dec06	Jun07	Dec07	Jun08	Dec08	Jun09	Dec09	Jun10	Dec10	Jun11	Dec11	Jun12	Dec12	Jun13	Dec13	Jun14	Dec14
EBIT	Get a 7-Day Free Trial															1.36	1.36	0.49	1.35	1.56

Competitive Comparison of CVC Property Fund's EBIT

For the Real Estate Services subindustry, CVC Property Fund'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.

CVC Property Fund's EV-to-EBIT Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, CVC Property Fund's EV-to-EBIT distribution charts can be found below:

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

CVC Property Fund 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. 2014 adds up the semi-annually data reported by the company within the most recent 12 months, which was A$2.90 Mil.

CVC Property Fund (ASX:CJT) EBIT Explanation

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

CVC Property Fund's annualized ROC % for the quarter that ended in Dec. 2014 is calculated as:

	ROC % (Q: Dec. 2014 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2014 )	+	Invested Capital (Q: Dec. 2014 ))	/ count )
=	3.114 * ( 1 - 0% )	/	( (28.25	+	43.196)	/ 2 )
=	3.114	/	35.723
=	8.72 %

where

	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	))
=	28.711	-	0.371	-	( 0.293	-	max(0, 0.371	-	0.461	+	0.293	))
=	28.25

	Invested Capital		(Q: Dec. 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	))
=	28.597	-	0.391	-	( 0.295	-	max(0, 15.337	-	0.347	+	0.295	))
=	43.196

Note: The Operating Income data used here is two times the semi-annual (Dec. 2014) data.

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

CVC Property Fund's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2014 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2014 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2014		Q: Dec. 2014
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	3.114	/	( ( (0 + max(-0.203, 0))	+	(0 + max(-0.391, 0)) )	/	2 )
=	3.114	/	( ( 0	+	0 )	/	2 )
=	3.114	/	0
=	%

where Working Capital is:

	Working Capital		(Q: Jun. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.168)	-	(0.371	+	0	+	0)
=	-0.203

	Working Capital		(Q: Dec. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0)	-	(0.391	+	0	+	0)
=	-0.391

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2014) EBIT data.

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

CVC Property Fund's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2014 )
	=	2.902	/	10.750
	=	27.00 %

CVC Property Fund EBIT Related Terms

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CVC Property Fund (ASX:CJT) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » CVC Property Fund (ASX:CJT) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.cvc.com.au

CVC Property Fund (CJT, formerly Taragon Property Fund) is a listed registered managed investment scheme domiciled in Australia.

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