Empire State Realty Trust (Empire State Realty Trust) EBIT : $187.5 Mil (TTM As of Dec. 2023)

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What is Empire State Realty Trust EBIT?

Empire State Realty Trust's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $43.0 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $187.5 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Empire State Realty Trust's annualized ROC % for the quarter that ended in Dec. 2023 was 3.69%. Empire State Realty Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 134.01%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Empire State Realty Trust's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 5.42%.

Empire State Realty Trust EBIT Historical Data

The historical data trend for Empire State Realty Trust'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.

Empire State Realty Trust EBIT Chart

Empire State Realty Trust Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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165.97

60.05

79.62

165.96

188.61

Empire State Realty Trust Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
EBIT	Get a 7-Day Free Trial															35.78	63.09	46.72	43.02	34.69

Competitive Comparison of Empire State Realty Trust's EBIT

For the REIT - Diversified subindustry, Empire State Realty Trust'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.

Empire State Realty Trust's EV-to-EBIT Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Empire State Realty Trust's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Empire State Realty Trust's EV-to-EBIT falls into.

Empire State Realty Trust 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 $187.5 Mil.

Empire State Realty Trust (NYSE:ESRT) EBIT Explanation

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

Empire State Realty Trust'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 )
=	163.088 * ( 1 - 10.17% )	/	( (3968.556	+	3976.497)	/ 2 )
=	146.5019504	/	3972.5265
=	3.69 %

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	))
=	4216.547	-	83.299	-	( 353.999	-	max(0, 548.145	-	712.837	+	353.999	))
=	3968.556

	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	))
=	4219.333	-	99.671	-	( 346.62	-	max(0, 559.255	-	702.42	+	346.62	))
=	3976.497

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

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

Empire State Realty Trust'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 )
=	172.06	/	( ( (28.496 + max(199.851, 0))	+	(28.439 + max(-69.797, 0)) )	/	2 )
=	172.06	/	( ( 228.347	+	28.439 )	/	2 )
=	172.06	/	128.393
=	134.01 %

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)
=	(291.884	+	0	+	66.954)	-	(83.299	+	75.688	+	0)
=	199.851

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(39.836	+	0	+	60.336)	-	(99.671	+	70.298	+	0)
=	-69.797

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:

Empire State Realty Trust's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	187.515	/	3458.635
	=	5.42 %

Empire State Realty Trust EBIT Related Terms

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Empire State Realty Trust (Empire State Realty Trust) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Empire State Realty Trust Inc (NYSE:ESRT) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

ES9:Germany

Address

111 West 33rd Street, 12th Floor, New York, NY, USA, 10120

Website

https://www.empirestaterealtytrust.com

Empire State Realty Trust operates as a pure-play greater New York and Manhattan-focused REIT, featuring its landmark Empire State Building office and observation deck. The company owns and operates around 9.4 million square feet of office space, about 80% of which is located in Manhattan.

Executives

Hannah Y Yang	director	C/O EMPIRE STATE REALTY TRUST, INC., 111 WEST 33RD STREET, 12TH FLOOR, NEW YORK NY 10120
Tassell Christina Van	director	C/O 111 RIVER STREET, HOBOKEN NJ 07030
Stephen Horn	officer: Chief Accounting Officer	255 WEST 94TH STREET, NEW YORK NY 10025
Grant Hill	director	121 ORANGE AVE, SUITE 1500, ORLANDO FL 32801
Robert Paige Hood	director	C/O EMPIRE STATE REALTY TRUST, INC., 111 WEST 33RD STREET, 12TH FLOOR, NEW YORK NY 10120
Christina Chiu	officer: EVP and CFO	C/O EMPIRE STATE REALTY TRUST, INC., 111 WEST 33RD STREET, 12TH FLOOR, NEW YORK NY 10120
Patricia Han	director	600 OFFICE CENTER DRIVE, FORT WASHINGTON PA 19034
David A Karp	director, officer: EVP and CFO	C/O EMPIRE STATE REALTY TRUST, INC., 111 WEST 33RD STREET, NEW YORK NY 10120
Quark Holding Llc	10 percent owner	P.O. BOX 23224 OOREDOO TOWER, DIPLOMATIC AREA STREET, WEST BAY, DOHA S3 S3
Thomas J Derosa	director	C/O WELLTOWER INC., 4500 DORR STREET, TOLEDO OH 43615
Salvatore Michael Giliberto	director	C/O EMPIRE STATE REALTY TRUST, INC., 111 WEST 33RD STREET, 12TH FLOOR, NEW YORK NY 10120
Steven J Gilbert	director	540 MADISON AVE, 40TH FL, NEW YORK NY 10022
Robinson James D Iv	director	130 EAST 59TH STREET, NEW YORK NY 10022
William H Berkman	director	650 MADISON AVE, 25TH FL, NEW YORK NY 10022
Leslie D. Biddle	director	111 WEST 33RD STREET 12TH FLOOR, NEW YORK NY 10120