International Game Technology (FRA:IGT) EBIT : €305 Mil (TTM As of Dec. 2014)

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What is International Game Technology EBIT?

International Game Technology's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2014 was €59 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2014 was €305 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. International Game Technology's annualized ROC % for the quarter that ended in Dec. 2014 was 5.33%. International Game Technology's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2014 was 45.50%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. International Game Technology's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2014 was 7.77%.

International Game Technology EBIT Historical Data

The historical data trend for International Game Technology'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.

International Game Technology EBIT Chart

International Game Technology Annual Data

Trend

Sep05

Sep06

Sep07

Sep08

Sep09

Sep10

Sep11

Sep12

Sep13

Sep14

EBIT

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356.02

406.18

360.84

393.22

342.06

International Game Technology Quarterly Data
	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14
EBIT	Get a 7-Day Free Trial															81.69	57.41	88.84	99.95	59.20

Competitive Comparison of International Game Technology's EBIT

For the Gambling subindustry, International Game Technology'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.

International Game Technology's EV-to-EBIT Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, International Game Technology's EV-to-EBIT distribution charts can be found below:

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

International Game Technology 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 quarterly data reported by the company within the most recent 12 months, which was €305 Mil.

International Game Technology (FRA:IGT) EBIT Explanation

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

International Game Technology'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: Sep. 2014 )	+	Invested Capital (Q: Dec. 2014 ))	/ count )
=	205.992 * ( 1 - 32.3% )	/	( (2566.309	+	2667.622)	/ 2 )
=	139.456584	/	2616.9655
=	5.33 %

where

	Invested Capital		(Q: Sep. 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	))
=	3095.852	-	331.585	-	( 197.958	-	max(0, 422.765	-	947.574	+	197.958	))
=	2566.309

	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	))
=	3088.775	-	257.655	-	( 163.498	-	max(0, 352.947	-	886.18	+	163.498	))
=	2667.622

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

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

International Game Technology'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: Sep. 2014		Q: Dec. 2014
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	236.812	/	( ( (320.255 + max(170.953, 0))	+	(328.617 + max(220.997, 0)) )	/	2 )
=	236.812	/	( ( 491.208	+	549.614 )	/	2 )
=	236.812	/	520.411
=	45.50 %

where Working Capital is:

	Working Capital		(Q: Sep. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(255.537	+	55.406	+	282.775)	-	(331.585	+	0	+	91.18)
=	170.953

	Working Capital		(Q: Dec. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(227.485	+	58.392	+	288.067)	-	(257.655	+	0	+	95.292)
=	220.997

When net working capital is negative, 0 is used.

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

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

International Game Technology's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2014 )
	=	305.393	/	3929.957
	=	7.77 %

International Game Technology EBIT Related Terms

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International Game Technology (FRA:IGT) Business Description

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International Game Technology was incorporated in Nevada in December 1980. It is a gaming Company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms land-based, online real-money and social gaming. The Company manages operations in two geographic segments namely North America and International. North America consists of operations in the US and Canada and International encompasses its efforts in all other jurisdictions. The Company has two revenue streams within each business segment gaming operations and product sales. It includes the sales of gaming equipment, systems, services, licensing, and component parts in Product Sales. It provides casino games, gaming equipment and systems technology for land-based and online social gaming and wagering markets under for-sale or revenue sharing arrangements. IGT systems products include infrastructure and applications for casino management, customer relationship management, player management, and server-based gaming. Casino management solutions include integrated modules for machine accounting, patron management, cage and table accounting, ticket-in/ticket-out, bonusing, and table game automation. The Company's competitors include Ainsworth Game Technology Ltd, Aristocrat Leisure Limited, Bally Technologies, Inc., Konami Gaming Inc., Novomatic Group of Companies, and WMS Industries, Inc. At September 30, 2013, the Company held approximately 6,000 patents or patent applications and approximately 4,100 trademarks filed and registered around the world. he manufacture and distribution of casino games, gaming equipment, systems technology, and related services, as well as the operation of casinos, is subject to regulation by a variety of federal, state, international, tribal, and local agencies, with the majority of oversight provided by individual state gaming control boards.