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Cowen Group, Inc. (NAS:COWN)
EV/EBIT
-3.47 (As of Today)

EV/EBIT ratio is calculated as enterprise value divided by its Earnings Before Interest and Taxes (EBIT). As of today, Cowen Group, Inc.'s enterprise value is $-377.0 Mil. Cowen Group, Inc.'s earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2015 was $108.8 Mil. Therefore, Cowen Group, Inc.'s EV/EBIT ratio for today is -3.47.

COWN' s 10-Year EV/EBIT Range
Min: -18.7   Max: 726.1
Current: 0

-18.7
726.1

During the past 13 years, the highest EV/EBIT Ratio of Cowen Group, Inc. was 726.10. The lowest was -18.70. And the median was 4.95.

COWN's EV/EBITis ranked lower than
173% of the 421 Companies
in the Global Capital Markets industry.

( Industry Median: 14.89 vs. COWN: 0.00 )

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt). Cowen Group, Inc.'s enterprise value for the quarter that ended in Jun. 2015 was $-229.7 Mil. Cowen Group, Inc.'s earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2015 was $108.8 Mil. Cowen Group, Inc.'s Earnings Yield (Joel Greenblatt) for the quarter that ended in Jun. 2015 was -47.36%.


Definition

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

EV/EBIT=Enterprise Value (Today)/Earnings Before Interest and Taxes (EBIT) (TTM)
=-377.015/108.771
=-3.47

Cowen Group, Inc.'s current Enterprise Value is $-377.0 Mil.
Cowen Group, Inc.'s Earnings Before Interest and Taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2015 was 23.317 (Sep. 2014 ) + 32.745 (Dec. 2014 ) + 32.353 (Mar. 2015 ) + 20.356 (Jun. 2015 ) = $108.8 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 Jun. 2015 is calculated as:

Earnings Yield (Joel Greenblatt) (Q: Jun. 2015 )=EBIT (TTM)/Enterprise Value (Q: Jun. 2015 )
=108.771/-229.672
=-47.36 %

Cowen Group, Inc.'s Enterprise Value for the quarter that ended in Jun. 2015 was $-229.7 Mil.
Cowen Group, Inc.'s Earnings Before Interest and Taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2015 was 23.317 (Sep. 2014 ) + 32.745 (Dec. 2014 ) + 32.353 (Mar. 2015 ) + 20.356 (Jun. 2015 ) = $108.8 Mil.

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

Cowen Group, Inc. Annual Data

Dec05Dec06Dec07Dec08Dec09Dec10Dec11Dec12Dec13Dec14
ev2ebit 0.003.08-1.43-1.329.3612.747.1781.25-21.06-10.38

Cowen Group, Inc. Quarterly Data

Mar13Jun13Sep13Dec13Mar14Jun14Sep14Dec14Mar15Jun15
ev2ebit 61.44-134.67-34.07-21.06-23.35-33.70-32.76-10.38-0.58-2.11
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