Volcano (FRA:VQY) EBIT : €-18.1 Mil (TTM As of Sep. 2014)

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What is Volcano EBIT?

Volcano's earnings before interest and taxes (EBIT) for the three months ended in Sep. 2014 was €-3.6 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2014 was €-18.1 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Volcano's annualized ROC % for the quarter that ended in Sep. 2014 was -2.19%. Volcano's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2014 was -8.55%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Volcano's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2014 was -2.23%.

Volcano EBIT Historical Data

The historical data trend for Volcano'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.

Volcano EBIT Chart

Volcano Annual Data

Trend

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

EBIT

Get a 7-Day Free Trial

-19.05

7.20

19.16

13.46

-17.46

Volcano Quarterly Data
	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14
EBIT	Get a 7-Day Free Trial															-4.56	-14.35	-5.79	5.58	-3.57

Competitive Comparison of Volcano's EBIT

For the Medical Devices subindustry, Volcano'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.

Volcano's EV-to-EBIT Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Volcano's EV-to-EBIT distribution charts can be found below:

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

Volcano 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 Sep. 2014 adds up the quarterly data reported by the company within the most recent 12 months, which was €-18.1 Mil.

Volcano (FRA:VQY) EBIT Explanation

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

Volcano's annualized ROC % for the quarter that ended in Sep. 2014 is calculated as:

	ROC % (Q: Sep. 2014 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2014 )	+	Invested Capital (Q: Sep. 2014 ))	/ count )
=	-15.252 * ( 1 - 33.17% )	/	( (443.754	+	485.638)	/ 2 )
=	-10.1929116	/	464.696
=	-2.19 %

where

	Invested Capital		(Q: Jun. 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	))
=	648.087	-	52.597	-	( 151.736	-	max(0, 71.416	-	285.855	+	151.736	))
=	443.754

	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	))
=	671.283	-	51.511	-	( 134.134	-	max(0, 79.02	-	281.25	+	134.134	))
=	485.638

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

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

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

	ROC (Joel Greenblatt) %		(Q: Sep. 2014 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2014		Q: Sep. 2014
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-14.28	/	( ( (90.139 + max(62.703, 0))	+	(94.732 + max(86.628, 0)) )	/	2 )
=	-14.28	/	( ( 152.842	+	181.36 )	/	2 )
=	-14.28	/	167.101
=	-8.55 %

where Working Capital is:

	Working Capital		(Q: Jun. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(62.631	+	53.117	+	18.371)	-	(52.597	+	8.184	+	10.635)
=	62.703

	Working Capital		(Q: Sep. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(61.114	+	59.241	+	26.761)	-	(51.511	+	8.694	+	0.28299999999999)
=	86.628

When net working capital is negative, 0 is used.

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

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2014 )
	=	-18.127	/	811.723
	=	-2.23 %

Volcano EBIT Related Terms

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Volcano (FRA:VQY) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Volcano Corp (FRA:VQY) » Definitions » EBIT

Comparable Companies

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Address

Website

http://www.volcanocorp.com

Volcano Corp incorporated in the state of Delaware in January 2000. The Company completed its initial public offering on June 15, 2006. The Company designs, develops, manufactures and commercializes a broad suite of precision guided therapy tools including intravascular ultrasound, or IVUS, and fractional flow reserve, or FFR, products. The IVUS products include single-procedure disposable phased array and rotational IVUS imaging catheters, and additional functionality options such as ChromaFlo stent apposition analysis. FFR offerings can be accessed through its multi-modality platforms, and it also provide FFR-only consoles. Its products include: IVUS Products, Catheters, its single-use disposable catheters operate and interface solely with its family of consoles. Catheters, its single-use disposable catheters operate and interface solely with its family of consoles. ChromaFlo stent apposition analysis technology uses sequential IVUS frames to differentiate circulating blood from stationary or anchored tissue. SyncVision, Sync-Rx Ltd, or Sync-Rx, an Israel-based company that develops advanced software applications designed to optimize and facilitate trans-catheter cardiovascular interventions using automated online image processing. FFR products consist of pressure and flow consoles and single-procedure disposable pressure and flow guide wires. The Company's primary imaging competitors globally are Boston Scientific, Inc., or Boston Scientific, with its IVUS offering and St. Jude Medical, Inc., or St. Jude with its OCT offering. In Japan, it also competes with Terumo Corporation, which offers both IVUS and OCT. In the FFR market, its primary competitor is St. Jude. Because of the size of the vascular market opportunities, competitors and potential competitors have dedicated and will continue to dedicate significant resources to aggressively promote their products. It has registered and common law trademarks in the U.S. and elsewhere in the world including, but not limited to, Aim, Axsun, Bi-Trieval, Centriq, ChromaFlo, ComboMap, ComboWire, Core, Crux, Crux Biomedical, Define, Eagle Eye, ETNA, FACT, FloMap, FloWire, Ginko, GlyDx, Hi-Q, iFR, In-Line Digital, Instant Wave-Free Ratio, Intentio, Octave, pcFM, Precision Guided Therapy, PreView, PrimeWire, PrimeWire Prestige, ReFlow, Revolution, SlyDx, s5i, SmartMap, SpinVision, Sync-Rx, Trak Back, Valet, Verrata, VH, VIBE, Virtual Histology, Visions, Volcano, Wavewire, Xtract and Zuum. The Company's medical device products are subject to extensive and rigorous regulation by the FDA, as well as other federal and state regulatory bodies in the U.S. and comparable authorities in other countries.

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