Forest Laboratories (FRA:FQX) EBIT : €93 Mil (TTM As of Mar. 2014)

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What is Forest Laboratories EBIT?

Forest Laboratories's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2014 was €-20 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2014 was €93 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Forest Laboratories's annualized ROC % for the quarter that ended in Mar. 2014 was 1.27%. Forest Laboratories's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2014 was -15.22%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Forest Laboratories's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2014 was 0.47%.

Forest Laboratories EBIT Historical Data

The historical data trend for Forest Laboratories'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.

Forest Laboratories EBIT Chart

Forest Laboratories Annual Data

Trend

Mar05

Mar06

Mar07

Mar08

Mar09

Mar10

Mar11

Mar12

Mar13

Mar14

EBIT

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700.66

953.81

936.93

-59.43

80.80

Forest Laboratories Quarterly Data
	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14
EBIT	Get a 7-Day Free Trial															17.74	29.02	68.53	15.80	-20.11

Competitive Comparison of Forest Laboratories's EBIT

For the Drug Manufacturers - Specialty & Generic subindustry, Forest Laboratories'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.

Forest Laboratories's EV-to-EBIT Distribution in the Drug Manufacturers Industry

For the Drug Manufacturers industry and Healthcare sector, Forest Laboratories's EV-to-EBIT distribution charts can be found below:

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

Forest Laboratories 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. 2014 adds up the quarterly data reported by the company within the most recent 12 months, which was €93 Mil.

Forest Laboratories (FRA:FQX) EBIT Explanation

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

Forest Laboratories's annualized ROC % for the quarter that ended in Mar. 2014 is calculated as:

	ROC % (Q: Mar. 2014 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2013 )	+	Invested Capital (Q: Mar. 2014 ))	/ count )
=	-80.448 * ( 1 - 176.55% )	/	( (3646.064	+	6039.806)	/ 2 )
=	61.582944	/	4842.935
=	1.27 %

where

	Invested Capital		(Q: Dec. 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	))
=	6612.882	-	759.222	-	( 2207.596	-	max(0, 759.222	-	3133.976	+	2207.596	))
=	3646.064

	Invested Capital		(Q: Mar. 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	))
=	8688.675	-	1092.214	-	( 1556.655	-	max(0, 1092.214	-	2981.444	+	1556.655	))
=	6039.806

Note: The Operating Income data used here is four times the quarterly (Mar. 2014) data.

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

Forest Laboratories's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2014 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2014 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2013		Q: Mar. 2014
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-80.448	/	( ( (288.768 + max(167.158, 0))	+	(268.822 + max(332.575, 0)) )	/	2 )
=	-80.448	/	( ( 455.926	+	601.397 )	/	2 )
=	-80.448	/	528.6615
=	-15.22 %

where Working Capital is:

	Working Capital		(Q: Dec. 2013 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(270.013	+	319.741	+	336.626)	-	(759.222	+	0	+	0)
=	167.158

	Working Capital		(Q: Mar. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(417.065	+	442.956	+	564.768)	-	(1092.214	+	0	+	0)
=	332.575

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2014) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2014 )
	=	93.229	/	19811.336
	=	0.47 %

Forest Laboratories EBIT Related Terms

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Forest Laboratories (FRA:FQX) Business Description

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Website

http://www.frx.com

Forest Laboratories, Inc. is a Delaware corporation organized in 1956. The Company develops, manufactures and sells branded forms of ethical drug products most of which require a physician's prescription. The Company's most important United States products are marketed directly, or 'detailed,' to physicians by its salesforces. It emphasizes detailing to physicians of those branded ethical drugs which have the most potential for growth and benefit to patients. The Company also develops and introduces new products, including products developed in collaboration with licensing partners. The Company's products include those developed by it and those acquired from other pharmaceutical companies and integrated into its marketing and distribution systems. It actively promotes in the United States those branded products which have the most potential for growth and patient benefit, and which enable its salesforces to concentrate on groups of physicians who are high prescribers of its products. Such products include: Lexapro, its SSRI for the treatment of major depression in adults and adolescents and GAD in adults; Namenda, its NMDA antagonist for the treatment of moderate and severe Alzheimer's disease; Bystolic, its beta-blocker for the treatment of hypertension; and Savella, its newest product, an SNRI for the management of fibromyalgia. The Company's United Kingdom and Ireland subsidiaries sell both ethical products and over-the-counter preparations. Their most important products include Sudocrem, a topical preparation for the treatment of diaper rash; Colomycin, an antibiotic used in the treatment of cystic fibrosis; Infacol, used to treat infant colic; and Exorex, used in the treatment of eczema and psoriasis. The pharmaceutical industry is subject to comprehensive government regulation which substantially increases the difficulty and cost incurred in obtaining the approval to market newly proposed drug products and maintaining the approval to market existing drugs.

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