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GuruFocus has detected 2 Warning Signs with Banco Macro SA $BMA.
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Banco Macro SA (NYSE:BMA)
EV-to-EBIT
-2.01 (As of Today)

EV/EBIT ratio is calculated as enterprise value divided by its Earnings Before Interest and Taxes (EBIT). As of today, Banco Macro SA's enterprise value is $-1,367 Mil. Banco Macro SA's earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2016 was $679 Mil. Therefore, Banco Macro SA's EV/EBIT ratio for today is -2.01.

BMA' s EV-to-EBIT Range Over the Past 10 Years
Min: -113   Max: 25.9
Current: -2.11

-113
25.9

During the past 13 years, the highest EV/EBIT Ratio of Banco Macro SA was 25.90. The lowest was -113.00. And the median was 3.30.

BMA's EV-to-EBIT is ranked higher than
75% of the 1668 Companies
in the Global Banks - Regional - Latin America industry.

( Industry Median: 12.52 vs. BMA: -2.11 )

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt). Banco Macro SA's enterprise value for the quarter that ended in Dec. 2016 was $2,004 Mil. Banco Macro SA's earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2016 was $679 Mil. Banco Macro SA's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2016 was 33.91%.


Definition

Banco Macro SA's EV/EBIT for today is calculated as:

EV/EBIT=Enterprise Value (Today)/Earnings Before Interest and Taxes (EBIT) (TTM)
=-1367.455/679.499514009
=-2.01

Banco Macro SA's current Enterprise Value is $-1,367 Mil.
Banco Macro SA's Earnings Before Interest and Taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2016 was 149.319296083 (Mar. 2016 ) + 199.726174969 (Jun. 2016 ) + 148.008245764 (Sep. 2016 ) + 182.445797193 (Dec. 2016 ) = $679 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Explanation

This is a more accurate valuation of companies' operation because it consider the debt and cash on its balance sheet, and non-operating items such as interest payment, tax, and one-time items are not included in the Operating Income.

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt).

Banco Macro SA's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2016 is calculated as:

Earnings Yield (Joel Greenblatt) (Q: Dec. 2016 )=EBIT (TTM)/Enterprise Value (Q: Dec. 2016 )
=679.499514009/2003.73944819
=33.91 %

Banco Macro SA's Enterprise Value for the quarter that ended in Dec. 2016 was $2,004 Mil.
Banco Macro SA's Earnings Before Interest and Taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2016 was 149.319296083 (Mar. 2016 ) + 199.726174969 (Jun. 2016 ) + 148.008245764 (Sep. 2016 ) + 182.445797193 (Dec. 2016 ) = $679 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


Related Terms

Enterprise Value, Earnings Yield (Joel Greenblatt), Earnings Before Interest and Taxes (EBIT)


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

Banco Macro SA Annual Data

Dec07Dec08Dec09Dec10Dec11Dec12Dec13Dec14Dec15Dec16
ev2ebit 8.810.171.977.26-2.40-0.690.082.723.913.19

Banco Macro SA Quarterly Data

Sep14Dec14Mar15Jun15Sep15Dec15Mar16Jun16Sep16Dec16
ev2ebit 3.912.725.684.523.963.914.805.445.503.19
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