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Carnival EBIT

: $-2,554 Mil (TTM As of May. 2020)
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Carnival's earnings before interest and taxes (EBIT) for the three months ended in May. 2020 was $-4,203 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in May. 2020 was $-2,554 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Carnival's annualized ROC % for the quarter that ended in May. 2020 was -21.92%. Carnival's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2020 was -43.08%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Carnival's Earnings Yield (Joel Greenblatt) % for the quarter that ended in May. 2020 was -9.56%.


Carnival EBIT Historical Data

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

* Premium members only.

Carnival Annual Data
Nov10 Nov11 Nov12 Nov13 Nov14 Nov15 Nov16 Nov17 Nov18 Nov19
EBIT Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2,016.00 3,051.00 2,864.00 3,401.00 3,266.00

Carnival Quarterly Data
Aug15 Nov15 Feb16 May16 Aug16 Nov16 Feb17 May17 Aug17 Nov17 Feb18 May18 Aug18 Nov18 Feb19 May19 Aug19 Nov19 Feb20 May20
EBIT Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 513.00 1,879.00 485.00 -715.00 -4,203.00

Carnival 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 May. 2020 was 1879 (Aug. 2019 ) + 485 (Nov. 2019 ) + -715 (Feb. 2020 ) + -4203 (May. 2020 ) = $-2,554 Mil.

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


Carnival  (NYSE:CCL) EBIT Explanation

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

Carnival's annualized ROC % for the quarter that ended in May. 2020 is calculated as:

ROC % (Q: May. 2020 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Feb. 2020 ) + Invested Capital (Q: May. 2020 ))/ count )
=-11252 * ( 1 - 0.25% )/( (52116 + 50301)/ 2 )
=-11223.87/51208.5
=-21.92 %

where

Note: The Operating Income data used here is four times the quarterly (May. 2020) data.

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

Carnival's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2020 is calculated as:

ROC (Joel Greenblatt) %(Q: May. 2020 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Feb. 2020  Q: May. 2020
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-16812/( ( (39492 + max(-5817, 0)) + (38552 + max(-4429, 0)) )/ 2 )
=-16812/( ( 39492 + 38552 )/ 2 )
=-16812/39022
=-43.08 %

where Working Capital is:

Working Capital(Q: Feb. 2020 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(405 + 440 + 686) - (2658 + 4690 + 0)
=-5817

Working Capital(Q: May. 2020 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(604 + 362 + 375) - (3152 + 2618 + 0)
=-4429

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (May. 2020) EBIT data.

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

Carnival's Earnings Yield (Joel Greenblatt) %for the quarter that ended in May. 2020 is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: May. 2020 )
=-2554/26717.54
=-9.56 %

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


Carnival EBIT Related Terms


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