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GuruFocus has detected 5 Warning Signs with II-VI Inc $IIVI.
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II-VI Inc (NAS:IIVI)
EV/EBIT
23.66 (As of Today)

EV/EBIT ratio is calculated as enterprise value divided by its Earnings Before Interest and Taxes (EBIT). As of today, II-VI Inc's enterprise value is $2,502.5 Mil. II-VI Inc's earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2016 was $105.8 Mil. Therefore, II-VI Inc's EV/EBIT ratio for today is 23.66.

IIVI' s EV/EBIT Range Over the Past 10 Years
Min: 5.2   Max: 35.4
Current: 23.67

5.2
35.4

During the past 13 years, the highest EV/EBIT Ratio of II-VI Inc was 35.40. The lowest was 5.20. And the median was 15.20.

IIVI's EV/EBIT is ranked lower than
65% of the 1645 Companies
in the Global Scientific & Technical Instruments industry.

( Industry Median: 15.75 vs. IIVI: 23.67 )

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt). II-VI Inc's enterprise value for the quarter that ended in Dec. 2016 was $1,887.3 Mil. II-VI Inc's earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2016 was $105.8 Mil. II-VI Inc's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2016 was 5.60%.


Definition

II-VI Inc's EV/EBIT for today is calculated as:

EV/EBIT=Enterprise Value (Today)/Earnings Before Interest and Taxes (EBIT) (TTM)
=2502.461/105.75
=23.66

II-VI Inc's current Enterprise Value is $2,502.5 Mil.
II-VI Inc's Earnings Before Interest and Taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2016 was 18.133 (Mar. 2016 ) + 29.343 (Jun. 2016 ) + 25.093 (Sep. 2016 ) + 33.181 (Dec. 2016 ) = $105.8 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).

II-VI Inc'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 )
=105.75/1887.263
=5.60 %

II-VI Inc's Enterprise Value for the quarter that ended in Dec. 2016 was $1,887.3 Mil.
II-VI Inc's Earnings Before Interest and Taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2016 was 18.133 (Mar. 2016 ) + 29.343 (Jun. 2016 ) + 25.093 (Sep. 2016 ) + 33.181 (Dec. 2016 ) = $105.8 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.

II-VI Inc Annual Data

Jun07Jun08Jun09Jun10Jun11Jun12Jun13Jun14Jun15Jun16
ev2ebit 15.6310.8612.1615.7814.4810.4312.2419.0714.0312.66

II-VI Inc Quarterly Data

Sep14Dec14Mar15Jun15Sep15Dec15Mar16Jun16Sep16Dec16
ev2ebit 14.9412.8015.4414.0311.1413.0116.2412.6616.1717.85
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