Foresight 2 VCT (LSE:FTNI) EBIT : £0.57 Mil (TTM As of Mar. 2015)

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What is Foresight 2 VCT EBIT?

Foresight 2 VCT's earnings before interest and taxes (EBIT) for the six months ended in Mar. 2015 was £0.21 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2015 was £0.57 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Foresight 2 VCT's annualized ROC % for the quarter that ended in Mar. 2015 was 1.91%. Foresight 2 VCT's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2015 was 97.67%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Foresight 2 VCT's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2015 was 0.96%.

Foresight 2 VCT EBIT Historical Data

The historical data trend for Foresight 2 VCT'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.

Foresight 2 VCT EBIT Chart

Foresight 2 VCT Annual Data

Trend

Sep05

Sep06

Sep07

Sep08

Sep09

Sep10

Sep11

Sep12

Sep13

Sep14

EBIT

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0.30

-0.10

-0.25

0.08

0.21

Foresight 2 VCT Semi-Annual Data
	Mar06	Sep06	Mar07	Sep07	Mar08	Sep08	Mar09	Sep09	Mar10	Sep10	Mar11	Sep11	Mar12	Sep12	Mar13	Sep13	Mar14	Sep14	Mar15
EBIT	Get a 7-Day Free Trial														0.30	-0.21	-0.15	0.36	0.21

Competitive Comparison of Foresight 2 VCT's EBIT

For the Asset Management subindustry, Foresight 2 VCT'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.

Foresight 2 VCT's EV-to-EBIT Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, Foresight 2 VCT's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Foresight 2 VCT's EV-to-EBIT falls into.

Foresight 2 VCT 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. 2015 adds up the semi-annually data reported by the company within the most recent 12 months, which was £0.57 Mil.

Foresight 2 VCT (LSE:FTNI) EBIT Explanation

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

Foresight 2 VCT's annualized ROC % for the quarter that ended in Mar. 2015 is calculated as:

	ROC % (Q: Mar. 2015 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2014 )	+	Invested Capital (Q: Mar. 2015 ))	/ count )
=	0.42 * ( 1 - -18.57% )	/	( (26.906	+	25.253)	/ 2 )
=	0.497994	/	26.0795
=	1.91 %

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	))
=	28.195	-	0.599	-	( 0.69	-	max(0, 0.599	-	2.149	+	0.69	))
=	26.906

	Invested Capital		(Q: Mar. 2015 )
=	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	))
=	28.397	-	0.561	-	( 2.583	-	max(0, 0.561	-	3.31	+	2.583	))
=	25.253

Note: The Operating Income data used here is two times the semi-annual (Mar. 2015) data.

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

Foresight 2 VCT's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2015 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2015 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2014		Q: Mar. 2015
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	0.42	/	( ( (0 + max(0.86, 0))	+	(0 + max(-0.561, 0)) )	/	2 )
=	0.42	/	( ( 0.86	+	0 )	/	2 )
=	0.42	/	0.43
=	97.67 %

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)
=	(1.459	+	0	+	0)	-	(0.599	+	0	+	0)
=	0.86

	Working Capital		(Q: Mar. 2015 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0)	-	(0.561	+	0	+	0)
=	-0.561

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2015) EBIT data.

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

Foresight 2 VCT's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2015 )
	=	0.57	/	59.542
	=	0.96 %

Foresight 2 VCT EBIT Related Terms

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Foresight 2 VCT (LSE:FTNI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » Foresight 2 VCT PLC (LSE:FTNI) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

The Shard 32, 32 London Bridge Street, London, Kent, GBR, SE1 9SG

Website

http://www.foresightgroup.eu

Foresight 2 VCT PLC is a venture capital company. The Company's investment objective is to provide private investors with attractive returns by investing in range of securities including ordinary and preference shares, loan stock as well as cash. Foresight Group is the manager of the Company and provides investment management and other administrative services.

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