Empire State Realty OP LP (Empire State Realty OP LP) EBIT : $187.5 Mil (TTM As of Dec. 2023)

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What is Empire State Realty OP LP EBIT?

Empire State Realty OP LP's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $43.0 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $187.5 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Empire State Realty OP LP's annualized ROC % for the quarter that ended in Dec. 2023 was 3.65%. Empire State Realty OP LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 93.56%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Empire State Realty OP LP's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 4.29%.

Empire State Realty OP LP EBIT Historical Data

The historical data trend for Empire State Realty OP LP'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.

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Empire State Realty OP LP EBIT Chart

Empire State Realty OP LP Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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165.97

60.05

79.62

165.96

188.61

Empire State Realty OP LP Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
EBIT	Get a 7-Day Free Trial															35.78	63.09	46.72	43.02	34.69

Competitive Comparison of Empire State Realty OP LP's EBIT

For the REIT - Office subindustry, Empire State Realty OP LP's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Empire State Realty OP LP's EV-to-EBIT Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Empire State Realty OP LP's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Empire State Realty OP LP's EV-to-EBIT falls into.

Empire State Realty OP LP 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 Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $187.5 Mil.

Empire State Realty OP LP (ARCA:ESBA) EBIT Explanation

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

Empire State Realty OP LP's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	163.088 * ( 1 - 10.17% )	/	( (4007.863	+	4011.996)	/ 2 )
=	146.5019504	/	4009.9295
=	3.65 %

where

	Invested Capital		(Q: Sep. 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	))
=	4216.547	-	83.299	-	( 353.999	-	max(0, 587.452	-	712.837	+	353.999	))
=	4007.863

	Invested Capital		(Q: Dec. 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	))
=	4219.333	-	99.671	-	( 346.62	-	max(0, 594.754	-	702.42	+	346.62	))
=	4011.996

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

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

Empire State Realty OP LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	172.06	/	( ( (28.496 + max(160.544, 0))	+	(28.439 + max(150.332, 0)) )	/	2 )
=	172.06	/	( ( 189.04	+	178.771 )	/	2 )
=	172.06	/	183.9055
=	93.56 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(291.884	+	0	+	66.954)	-	(83.299	+	114.995	+	0)
=	160.544

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(295.464	+	0	+	60.336)	-	(99.671	+	105.797	+	0)
=	150.332

When net working capital is negative, 0 is used.

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

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

Empire State Realty OP LP's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	187.515	/	4373.014
	=	4.29 %

Empire State Realty OP LP EBIT Related Terms

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Empire State Realty OP LP (Empire State Realty OP LP) Business Description

Industry

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OGCP:USA FISK:USA

Address

111 West 33rd Street, 12th Floor, New York, NY, USA, 10120

Website

https://www.esrtreit.com

Empire State Realty OP LP is the operating partner of Empire State Realty Inc. The company along with its partner manages, operates, acquires and repositions properties in Manhattan and the greater New York metropolitan area. The firm operates in two segments, Real Estate and Observatory. Through the Real Estate segment, it offers services related to the ownership, management, operation, acquisition, repositioning and disposition of its real estate assets. Under the Observatory segment, it operates the two observatories of the Empire State Building. The company generates maximum revenue from the Real Estate segment.