Clipper Realty (NYSE:CLPR) EBIT

: $24.2 Mil (TTM As of Mar. 2023)

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Clipper Realty's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2023 was $3.0 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2023 was $24.2 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Clipper Realty's annualized ROC % for the quarter that ended in Mar. 2023 was 2.31%. Clipper Realty's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2023 was 70.45%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Clipper Realty's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2023 was 1.94%.

Clipper Realty EBIT Historical Data

The historical data trend for Clipper Realty's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Clipper Realty Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

EBIT

23.78

31.06

28.00

21.27

27.64

Clipper Realty Quarterly Data
	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23
EBIT																6.51	7.05	7.30	6.78	3.05

Clipper Realty 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 Mar. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $24.2 Mil.

Clipper Realty (NYSE:CLPR) EBIT Explanation

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

Clipper Realty's annualized ROC % for the quarter that ended in Mar. 2023 is calculated as:

	ROC % (Q: Mar. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2022 )	+	Invested Capital (Q: Mar. 2023 ))	/ count )
=	27.656 * ( 1 - 0% )	/	( (1194.385	+	1204.659)	/ 2 )
=	27.656	/	1199.522
=	2.31 %

where

	Invested Capital		(Q: Dec. 2022 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1229.631	-	17.094	-	( 18.152	-	max(0, 17.094	-	49.325	+	18.152	))
=	1194.385

	Invested Capital		(Q: Mar. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	1237.398	-	13.938	-	( 18.801	-	max(0, 13.938	-	53.251	+	18.801	))
=	1204.659

Note: The Operating Income data used here is four times the quarterly (Mar. 2023) data.

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

Clipper Realty's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2022		Q: Mar. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	12.184	/	( ( (0 + max(14.079, 0))	+	(0 + max(20.512, 0)) )	/	2 )
=	12.184	/	( ( 14.079	+	20.512 )	/	2 )
=	12.184	/	17.2955
=	70.45 %

where Working Capital is:

	Working Capital		(Q: Dec. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(5.005	+	0	+	26.168)	-	(17.094	+	0	+	0)
=	14.079

	Working Capital		(Q: Mar. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4.768	+	0	+	29.682)	-	(13.938	+	0	+	0)
=	20.512

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2023) EBIT data.

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

Clipper Realty's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2023 )
	=	24.173	/	1245.967
	=	1.94 %

Clipper Realty EBIT Related Terms

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Clipper Realty (NYSE:CLPR) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Clipper Realty Inc (NYSE:CLPR) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

4611 12th Avenue, Suite 1L, Brooklyn, NY, USA, 11219

Website

https://www.clipperrealty.com

Clipper Realty Inc is a self-administered and self-managed real estate company. It acquires, owns, manages, operates and repositions multifamily residential and commercial properties in the New York metropolitan area, with a portfolio in Manhattan and Brooklyn. It has classified its reporting segments into commercial and residential rental properties. Clipper derives its revenue mostly from a Residential segment.

Executives

Michael Charles Frenz	officer: Chief Financial Officer	C/O CLIPPER REALTY INC, 4611 12TH AVENUE, SUITE 1L, BROOKLYN NY 11219
Howard M Lorber	director	4400 BISCAYNE BLVD, 10TH FLOOR, MIAMI FL 33137
Roberto Angelo Verrone	director	200 HIGHLAND AVENUE, SHORT HILLS NJ 07078
Robert Jay Ivanhoe	director	GREENBERG TRAURIG, LLP, 200 PARK AVENUE, NEW YORK NY 10166
Richard N Burger	director	P.O. BOX 28543, SCOTTSDALE AZ 85255
Harmon Spolan	director	OOZEN O CONNOR, 1900 MARKET ST 4TH FL, PHILADELPHIA PA 19103
Lawrence E Kreider	officer: Chief Financial Officer	600 GRANT STREET, SUITE 900, DENVER CO 80203
Sam Levinson	director, 10 percent owner	9190 PRIORITY WAY WEST DRIVE, SUITE 300, INDIANAPOLIS IN 46240
David Bistricer	director, 10 percent owner, officer: Co-Chairman and CEO	PO BOX 407, BROOKLIN NY 11219
Jacob Bistricer	officer: Chief Operating Officer	4611 12TH AVENUE, SUITE 1L, BROOKLYN NY 11219
Jacob Schwimmer	officer: Chief PM Offcier	1738 47TH STREET, BROOKLYN NY 11204