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Cowen Group, Inc. (NAS:COWN)
EV/EBIT
81.47 (As of Today)

EV/EBIT ratio is calculated as enterprise value divided by its EBIT. As of today, Cowen Group, Inc.'s enterprise value is $-1,393.9 Mil. Cowen Group, Inc.'s operating income for the trailing twelve months (TTM) ended in Mar. 2014 was $-17.2 Mil. Therefore, Cowen Group, Inc.'s EV/EBIT ratio for today is 81.47.

COWN' s 10-Year EV/EBIT Range
Min: 1.6   Max: 726.1
Current: 81.47

1.6
726.1

During the past 13 years, the highest EV/EBIT Ratio of Cowen Group, Inc. was 726.10. The lowest was 1.60. And the median was 10.30.

COWN's EV/EBITis ranked higher than
61% of the 439 Companies
in the Global Capital Markets industry.

( Industry Median: 25.72 vs. COWN: 81.47 )

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt). Cowen Group, Inc.'s enterprise value for the quarter that ended in Mar. 2014 was $-1,378.9 Mil. Cowen Group, Inc.'s Operating Income for the trailing twelve months (TTM) ended in Mar. 2014 was $-17.2 Mil. Cowen Group, Inc.'s Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2014 was 0.00%.


Definition

Cowen Group, Inc.'s EV/EBIT for today is calculated as:

EV/EBIT=Enterprise Value (Today)/Operating Income (TTM)
=-1393.943/-17.151
=

Cowen Group, Inc.'s current Enterprise Value is $-1,393.9 Mil.
Cowen Group, Inc.'s Operating Income for the trailing twelve months (TTM) ended in Mar. 2014 was -5.405 (Jun. 2013 ) + -10.377 (Sep. 2013 ) + -2.018 (Dec. 2013 ) + 0.649 (Mar. 2014 ) = $-17.2 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their own 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).

Cowen Group, Inc.'s Earnings Yield (Joel Greenblatt) for the quarter that ended in Mar. 2014 is calculated as:

Earnings Yield (Joel Greenblatt) (Q: Mar. 2014 )=Operating Income (TTM)/Enterprise Value (Q: Mar. 2014 )
=-17.151/-1378.9435
=1.24 %

Cowen Group, Inc.'s Enterprise Value for the quarter that ended in Mar. 2014 was $-1,378.9 Mil.
Cowen Group, Inc.'s Operating Income for the trailing twelve months (TTM) ended in Mar. 2014 was -5.405 (Jun. 2013 ) + -10.377 (Sep. 2013 ) + -2.018 (Dec. 2013 ) + 0.649 (Mar. 2014 ) = $-17.2 Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.


Related Terms

Enterprise Value, Operating Income, Earnings Yield (Joel Greenblatt)


Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their own currency.

Cowen Group, Inc. Annual Data

Dec04Dec05Dec06Dec07Dec08Dec09Dec10Dec11Dec12Dec13
ev2ebit 0.000.008.070.000.000.000.000.000.000.00

Cowen Group, Inc. Quarterly Data

Dec11Mar12Jun12Sep12Dec12Mar13Jun13Sep13Dec13Mar14
ev2ebit 0.000.000.000.000.000.000.000.000.000.00
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