Exelis (FRA:6EX) EBIT : €335 Mil (TTM As of Mar. 2015)

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What is Exelis EBIT?

Exelis's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2015 was €96 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2015 was €335 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Exelis's annualized ROC % for the quarter that ended in Mar. 2015 was 7.61%. Exelis's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2015 was 51.70%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Exelis's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2015 was 7.94%.

Exelis EBIT Historical Data

The historical data trend for Exelis'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.

Exelis EBIT Chart

Exelis Annual Data

Trend

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

EBIT

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526.18

415.72

427.48

239.44

321.97

Exelis Quarterly Data
	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15
EBIT	Get a 7-Day Free Trial															49.89	75.81	74.50	88.40	96.10

Competitive Comparison of Exelis's EBIT

For the Aerospace & Defense subindustry, Exelis'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.

Exelis's EV-to-EBIT Distribution in the Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, Exelis's EV-to-EBIT distribution charts can be found below:

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

Exelis 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 Mar. 2015 adds up the quarterly data reported by the company within the most recent 12 months, which was €335 Mil.

Exelis (FRA:6EX) EBIT Explanation

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

Exelis's annualized ROC % for the quarter that ended in Mar. 2015 is calculated as:

	ROC % (Q: Mar. 2015 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2014 )	+	Invested Capital (Q: Mar. 2015 ))	/ count )
=	384.384 * ( 1 - 37.89% )	/	( (2914.734	+	3361.512)	/ 2 )
=	238.7409024	/	3138.123
=	7.61 %

where

	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	))
=	3956.058	-	627.714	-	( 413.61	-	max(0, 627.714	-	1347.882	+	413.61	))
=	2914.734

	Invested Capital		(Q: Mar. 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	))
=	4463.844	-	659.736	-	( 442.596	-	max(0, 659.736	-	1538.46	+	442.596	))
=	3361.512

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

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

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

	ROC (Joel Greenblatt) %		(Q: Mar. 2015 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2014		Q: Mar. 2015
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	384.384	/	( ( (354.407 + max(306.558, 0))	+	(389.928 + max(436.128, 0)) )	/	2 )
=	384.384	/	( ( 660.965	+	826.056 )	/	2 )
=	384.384	/	743.5105
=	51.70 %

where Working Capital is:

	Working Capital		(Q: Dec. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(668.264	+	182.475	+	83.533)	-	(627.714	+	0	+	0)
=	306.558

	Working Capital		(Q: Mar. 2015 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(788.172	+	213.444	+	94.248)	-	(659.736	+	0	+	0)
=	436.128

When net working capital is negative, 0 is used.

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

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2015 )
	=	334.799	/	4214.942
	=	7.94 %

Exelis EBIT Related Terms

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Exelis (FRA:6EX) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

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Address

Website

http://www.exelisinc.com

Exelis Inc was incorporated in the state of Indiana on May 4, 2011. The Company is a diversified aerospace, defense, information and services Company. The Company operates in two segments: Command, Control, Communications, Computers, Intelligence, Surveillance and Reconnaissance (C4ISR) Electronics and Systems and Information and Technical Services to military, government and commercial customers in the United States and internationally. The C4ISR Electronics and Systems segment provides engineered systems and solutions, including: ISR systems; integrated electronic warfare systems; radar and sonar systems; electronic attack and release systems; communications solutions; space systems; and composite aerostructures, for government and commercial customers. The Information and Technical Services segment provides a broad range of service solutions, including: systems integration; network design and development; air traffic management; cyber; intelligence; operations; sustainment; advanced engineering; logistics; and space launch and range-support, for U.S. military and U.S. Government customers. The C4ISR Electronics and Systems' products are classified into Intelligence, Surveillance and Reconnaissance Systems, Integrated Electronic Warfare Systems, Electronic Attack and Release Systems, Radar, Reconnaissance and Undersea Systems, Communications Solutions, Night Vision, Positioning, Navigation and Timing, Aerostructures, and Specialty Applications. Information and Technical Services product lines are classified into Advanced Information Solutions, Civil and Aerospace Systems, Command, Control and Communications Systems, Infrastructure Asset Management, Logistics and Supply Chain Management, and Information Technology and Network Communication Services. The Company's customers include the United States Department of Defense, including U.S. Army, Navy, Marines and Air Force, U.S. Government intelligence agencies, National Aeronautics and Space Administration, Federal Aviation Administration. The Company competes against companies such as Lockheed Martin Corporation, The Boeing Company, Raytheon Company, General Dynamics Corporation, L-3 Communications Corporation, SAIC Inc., Northrop Grumman Corporation, Harris Corporation and BAE Systems, Inc. Internationally, it also competes against these same companies as well as Thales Group, EADS N.V., Finmeccanica S.p.A., among others The Company is subject to federal, state and local environmental laws and regulations.

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