Corinthian Colleges (FRA:CH7) EBIT : €22 Mil (TTM As of Jun. 2013)

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What is Corinthian Colleges EBIT?

Corinthian Colleges's earnings before interest and taxes (EBIT) for the six months ended in Jun. 2013 was €22 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2013 was €22 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Corinthian Colleges's annualized ROC % for the quarter that ended in Jun. 2013 was 4.70%. Corinthian Colleges's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2013 was 11.49%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Corinthian Colleges's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2013 was 327.42%.

Corinthian Colleges EBIT Historical Data

The historical data trend for Corinthian Colleges'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.

Corinthian Colleges EBIT Chart

Corinthian Colleges Annual Data

Trend

Jun04

Jun05

Jun06

Jun07

Jun08

Jun09

Jun10

Jun11

Jun12

Jun13

EBIT

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85.58

201.48

-54.61

25.73

21.52

Corinthian Colleges Semi-Annual Data
	Jun98	Jun99	Jun00	Jun01	Jun02	Jun03	Jun04	Jun05	Jun06	Jun07	Jun08	Jun09	Jun10	Jun11	Jun12	Jun13
EBIT	Get a 7-Day Free Trial											85.58	201.48	-54.61	25.73	21.52

Competitive Comparison of Corinthian Colleges's EBIT

For the Education & Training Services subindustry, Corinthian Colleges'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.

Corinthian Colleges's EV-to-EBIT Distribution in the Education Industry

For the Education industry and Consumer Defensive sector, Corinthian Colleges's EV-to-EBIT distribution charts can be found below:

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

Corinthian Colleges 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. EBIT for the trailing twelve months (TTM) ended in Jun. 2013 was €22 Mil.

Corinthian Colleges (FRA:CH7) EBIT Explanation

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

Corinthian Colleges's annualized ROC % for the quarter that ended in Jun. 2013 is calculated as:

	ROC % (Q: Jun. 2013 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2012 )	+	Invested Capital (Q: Jun. 2013 ))	/ count )
=	39.068 * ( 1 - 19.8% )	/	( (684.567	+	647.874)	/ 2 )
=	31.332536	/	666.2205
=	4.70 %

where

	Invested Capital		(Q: Jun. 2012 )
=	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	))
=	855.198	-	137.124	-	( 57.802	-	max(0, 236.925	-	270.432	+	57.802	))
=	684.567

	Invested Capital		(Q: Jun. 2013 )
=	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	))
=	779.788	-	105.518	-	( 35.32	-	max(0, 190.443	-	216.839	+	35.32	))
=	647.874

Note: The Operating Income data used here is one times the annual (Jun. 2013) data.

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

Corinthian Colleges's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2013 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2013 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2012		Q: Jun. 2013
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	21.521	/	( ( (200.701 + max(-42.378, 0))	+	(173.984 + max(-23.377, 0)) )	/	2 )
=	21.521	/	( ( 200.701	+	173.984 )	/	2 )
=	21.521	/	187.3425
=	11.49 %

where Working Capital is:

	Working Capital		(Q: Jun. 2012 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(77.151	+	0	+	114.136)	-	(137.124	+	87.475	+	9.066)
=	-42.378

	Working Capital		(Q: Jun. 2013 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(58.283	+	0	+	105.066)	-	(105.518	+	81.208	+	2.8421709430404E-14)
=	-23.377

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (Jun. 2013) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Jun. 2013 )
	=	21.521	/	6.573
	=	327.42 %

Corinthian Colleges EBIT Related Terms

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Corinthian Colleges (FRA:CH7) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Education » Corinthian Colleges Inc (FRA:CH7) » Definitions » EBIT

Comparable Companies

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Address

Website

http://www.cci.edu

Corinthian Colleges Inc is a post-secondary education company in the United States and Canada. It offers diploma programs and associate, bachelors and master's degrees through a single operating segment. As of June 30, 2013, it has a student enrollment of 81,284 and operated 97 schools in 25 states, and 14 schools in the province of Ontario, Canada. The Company has acquired 76 colleges including the Heald acquisition and has opened 35 branch campuses. Its training program areas include healthcare, criminal justice, business, mechanical, trades, and information technology. The Company's diploma programs provide students with the requisite knowledge and job skills for entry-level positions in their chosen career.Key elements of its operating strategy includes emphasize Student Outcomes, create an Effective Learning Environment, focus on Attractive Markets, manage School and Program Performance, Standardize Key Business Processes and Centralize Key Functions.

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