Direct Nickel (ASX:DIR) EBIT : A$-3.99 Mil (TTM As of Dec. 2014)

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What is Direct Nickel EBIT?

Direct Nickel's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2014 was A$-1.60 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2014 was A$-3.99 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Direct Nickel's annualized ROC % for the quarter that ended in Dec. 2014 was -284.09%. Direct Nickel'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. Direct Nickel's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2014 was -0.00%.

Direct Nickel EBIT Historical Data

The historical data trend for Direct Nickel'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.

Direct Nickel EBIT Chart

Direct Nickel Annual Data

Trend

Jun05

Jun06

Jun07

Jun08

Jun09

Jun10

Jun11

Jun12

Jun13

Jun14

EBIT

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-1.43

-0.17

-0.39

-6.70

-11.74

Direct Nickel Semi-Annual Data
	Jun04	Dec04	Jun05	Dec06	Jun07	Dec07	Jun08	Dec08	Jun09	Dec09	Jun10	Dec10	Jun11	Dec11	Jun12	Dec12	Jun13	Dec13	Jun14	Dec14
EBIT	Get a 7-Day Free Trial															-2.05	-4.65	-9.35	-2.39	-1.60

Competitive Comparison of Direct Nickel's EBIT

For the Other Industrial Metals & Mining subindustry, Direct Nickel'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.

Direct Nickel's EV-to-EBIT Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Direct Nickel's EV-to-EBIT distribution charts can be found below:

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

Direct Nickel 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$-3.99 Mil.

Direct Nickel (ASX:DIR) EBIT Explanation

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

Direct Nickel'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 )
=	-3.206 * ( 1 - 0% )	/	( (1.293	+	0.964)	/ 2 )
=	-3.206	/	1.1285
=	-284.09 %

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	))
=	0.863	-	0.709	-	( 0.094	-	max(0, 1.478	-	0.339	+	0.094	))
=	1.293

	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	))
=	0.877	-	0.113	-	( 0.268	-	max(0, 0.553	-	0.353	+	0.268	))
=	0.964

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:

Direct Nickel'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 )
=	-3.206	/	( ( (0 + max(-1.29, 0))	+	(0 + max(-0.479, 0)) )	/	2 )
=	-3.206	/	( ( 0	+	0 )	/	2 )
=	-3.206	/	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	+	0.188)	-	(0.709	+	0	+	0.769)
=	-1.29

	Working Capital		(Q: Dec. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.074)	-	(0.113	+	0	+	0.44)
=	-0.479

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:

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2014 )
	=	-3.992	/	198801.829
	=	-0.00 %

Direct Nickel EBIT Related Terms

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Direct Nickel (ASX:DIR) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Direct Nickel Ltd (ASX:DIR) » Definitions » EBIT

Comparable Companies

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Address

Website

http://www.directnickel.com

Direct Nickel Ltd is incorporated and domiciled in Australia. The Company is engaged in the research and development of nickel processing technology within the Oceania region. The Company has operations in Sydney and Perth. It also operates in Indonesia through its subsidiary, PT Direct Nickel with offices in Jakarta and has a 50% interest in a laterite deposit in Papua New Guinea.

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