Fortitude Group (Fortitude Group) EBIT : $-0.46 Mil (TTM As of Sep. 2010)

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What is Fortitude Group EBIT?

Fortitude Group's earnings before interest and taxes (EBIT) for the three months ended in Sep. 2010 was $-0.07 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2010 was $-0.46 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Fortitude Group's annualized ROC % for the quarter that ended in Sep. 2010 was -113.29%. Fortitude Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2010 was -329.11%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield.

Fortitude Group EBIT Historical Data

The historical data trend for Fortitude Group'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.

Fortitude Group EBIT Chart

Fortitude Group Annual Data

Trend

Dec00

Dec01

Dec02

Dec03

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

EBIT

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-0.97

-7.03

-2.05

-1.45

-0.78

Fortitude Group Quarterly Data
	Dec05	Mar06	Jun06	Sep06	Dec06	Mar07	Jun07	Sep07	Dec07	Mar08	Jun08	Sep08	Dec08	Mar09	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10
EBIT	Get a 7-Day Free Trial															-0.16	-0.20	-0.08	-0.13	-0.07

Competitive Comparison of Fortitude Group's EBIT

For the Asset Management subindustry, Fortitude Group'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.

Fortitude Group's EV-to-EBIT Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Fortitude Group's EV-to-EBIT distribution charts can be found below:

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

Fortitude Group 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. 2010 adds up the quarterly data reported by the company within the most recent 12 months, which was $-0.46 Mil.

Fortitude Group (OTCPK:FRTD) EBIT Explanation

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

Fortitude Group's annualized ROC % for the quarter that ended in Sep. 2010 is calculated as:

	ROC % (Q: Sep. 2010 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2010 )	+	Invested Capital (Q: Sep. 2010 ))	/ count )
=	-0.26 * ( 1 - 0% )	/	( (0.158	+	0.301)	/ 2 )
=	-0.26	/	0.2295
=	-113.29 %

where

	Invested Capital		(Q: Jun. 2010 )
=	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	))
=	0.093	-	0.443	-	( 0.01	-	max(0, 0.518	-	0.01	+	0.01	))
=	0.158

	Invested Capital		(Q: Sep. 2010 )
=	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	))
=	0.226	-	0.459	-	( 0	-	max(0, 0.534	-	0	+	0	))
=	0.301

Note: The Operating Income data used here is four times the quarterly (Sep. 2010) data.

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

Fortitude Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2010 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2010 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2010		Q: Sep. 2010
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-0.26	/	( ( (0.082 + max(-0.443, 0))	+	(0.076 + max(-0.459, 0)) )	/	2 )
=	-0.26	/	( ( 0.082	+	0.076 )	/	2 )
=	-0.26	/	0.079
=	-329.11 %

where Working Capital is:

	Working Capital		(Q: Jun. 2010 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0)	-	(0.443	+	0	+	0)
=	-0.443

	Working Capital		(Q: Sep. 2010 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0)	-	(0.459	+	0	+	0)
=	-0.459

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2010) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2010 )
	=	-0.464	/	0.000
	=	%

Fortitude Group EBIT Related Terms

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Fortitude Group (Fortitude Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Fortitude Group Inc (OTCPK:FRTD) » Definitions » EBIT

Comparable Companies

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N/A

Address

1001 State Street, Erie, PA, USA, 16501

Website

http://www.fortitudegroupinc.com

Fortitude Group Inc is a diversified investment company. It invests in multiple sectors of the economy targeting joint ventures, wholly owned subsidiaries and or majority/minority positions that cross various market segments with the goal of creating a quality company that builds intrinsic value for its shareholders.

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