Givaudan (Givaudan) EBIT

: $1,256 Mil (TTM As of Dec. 2023)

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Givaudan's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was $615 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $1,256 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Givaudan's annualized ROC % for the quarter that ended in Dec. 2023 was 10.17%. Givaudan's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 27.53%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Givaudan's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 2.86%.

Givaudan EBIT Historical Data

The historical data trend for Givaudan'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.

Givaudan Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

902.71

1,085.10

1,149.84

1,103.48

1,282.38

Givaudan Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
EBIT																485.34	577.20	502.36	640.83	615.17

Competitive Comparison

For the Specialty Chemicals subindustry, Givaudan'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.

Givaudan EV-to-EBIT Distribution

For the Chemicals industry and Basic Materials sector, Givaudan's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Givaudan's EV-to-EBIT falls into.

Givaudan 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 semi-annually data reported by the company within the most recent 12 months, which was $1,256 Mil.

Givaudan (OTCPK:GVDNY) EBIT Explanation

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

Givaudan'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: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	1216.466 * ( 1 - 6.13% )	/	( (11488.228	+	10977.104)	/ 2 )
=	1141.8966342	/	11232.666
=	10.17 %

where

	Invested Capital		(Q: Jun. 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	))
=	12845.402	-	1079.52	-	( 277.654	-	max(0, 3209.685	-	4161.484	+	277.654	))
=	11488.228

	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	))
=	12867.715	-	1187.558	-	( 703.053	-	max(0, 2383.21	-	4180.157	+	703.053	))
=	10977.104

Note: The Operating Income data used here is two times the semi-annual (Dec. 2023) data.

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

Givaudan'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: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1230.342	/	( ( (2503.332 + max(2236.784, 0))	+	(2592.507 + max(1604.995, 0)) )	/	2 )
=	1230.342	/	( ( 4740.116	+	4197.502 )	/	2 )
=	1230.342	/	4468.809
=	27.53 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1832.519	+	1711.462	+	339.849)	-	(1079.52	+	0	+	567.526)
=	2236.784

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1679.001	+	1474.329	+	323.774)	-	(1187.558	+	0	+	684.551)
=	1604.995

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	1255.997	/	43907.599
	=	2.86 %

Givaudan EBIT Related Terms

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Givaudan (Givaudan) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Chemicals » Givaudan SA (OTCPK:GVDNY) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

GVDBF:USA GIVNz:UK 0QPS:UK GIN1:Germany GIVN:Switzerland

Address

Chemin de la Parfumerie 5, Vernier, CHE, 1214

Website

https://www.givaudan.com

Spun off from Roche in 2000, Givaudan is one of the world's leading flavour and fragrance manufacturers, with a presence in more than 80 countries. It sources more than 10,000 different ingredients from 100 countries. The company serves end consumer markets with fragrances for personal-, home-, and laundry-care brands, including prestige perfumes. In flavours, customers are in beverages, savoury, snacks, sweet goods, and dairy. Givaudan has nearly 10,000 employees, and its perfumery team is the largest in the industry.