Instructure (Instructure) EBIT : $-84.4 Mil (TTM As of Dec. 2019)

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What is Instructure EBIT?

Instructure's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2019 was $-22.3 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2019 was $-84.4 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Instructure's annualized ROC % for the quarter that ended in Dec. 2019 was -27.73%. Instructure's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2019 was -136.70%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Instructure's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2019 was -10.93%.

Instructure EBIT Historical Data

The historical data trend for Instructure'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.

Instructure EBIT Chart

Instructure Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

EBIT

Get a 7-Day Free Trial

-52.79

-47.80

-43.18

-43.06

-84.42

Instructure Quarterly Data
	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19
EBIT	Get a 7-Day Free Trial															-7.54	-18.89	-22.45	-20.77	-22.32

Competitive Comparison of Instructure's EBIT

For the Software - Application subindustry, Instructure'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.

Instructure's EV-to-EBIT Distribution in the Software Industry

For the Software industry and Technology sector, Instructure's EV-to-EBIT distribution charts can be found below:

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

Instructure 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. 2019 adds up the quarterly data reported by the company within the most recent 12 months, which was $-84.4 Mil.

Instructure (NYSE:INST) EBIT Explanation

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

Instructure's annualized ROC % for the quarter that ended in Dec. 2019 is calculated as:

	ROC % (Q: Dec. 2019 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2019 )	+	Invested Capital (Q: Dec. 2019 ))	/ count )
=	-93.612 * ( 1 - -3.06% )	/	( (359.927	+	335.974)	/ 2 )
=	-96.4765272	/	347.9505
=	-27.73 %

where

	Invested Capital		(Q: Sep. 2019 )
=	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	))
=	390.958	-	22.042	-	( 127.205	-	max(0, 190.949	-	199.938	+	127.205	))
=	359.927

	Invested Capital		(Q: Dec. 2019 )
=	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	))
=	367.5	-	25.761	-	( 116.82	-	max(0, 177.36	-	183.125	+	116.82	))
=	335.974

Note: The Operating Income data used here is four times the quarterly (Dec. 2019) data.

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

Instructure's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2019 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2019 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2019		Q: Dec. 2019
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-89.268	/	( ( (66.013 + max(-111.892, 0))	+	(64.59 + max(-104.501, 0)) )	/	2 )
=	-89.268	/	( ( 66.013	+	64.59 )	/	2 )
=	-89.268	/	65.3015
=	-136.70 %

where Working Capital is:

	Working Capital		(Q: Sep. 2019 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(41.655	+	0	+	31.078)	-	(22.042	+	162.583	+	0)
=	-111.892

	Working Capital		(Q: Dec. 2019 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(38.029	+	0	+	28.276)	-	(25.761	+	145.045	+	2.8421709430404E-14)
=	-104.501

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2019) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2019 )
	=	-84.423	/	772.153
	=	-10.93 %

Instructure EBIT Related Terms

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Instructure (Instructure) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Instructure Inc (NYSE:INST) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

6330 South 3000 East, Suite 700, Salt Lake City, UT, USA, 84121

Website

https://www.instructure.com

Instructure Inc provides cloud-based learning management platform for academic institutions and companies worldwide. The company offers its platform through a Software-as-a-Service business model. It develops Canvas, a learning management application for the education market; and Bridge for the corporate market to enable its customers in developing, delivering, and managing face-to-face and online learning experiences. Geographically, it operates in the market of the United States and its business is also expanding internationally and it derives revenue from Subscription and support source.

Executives

Kevin B Thompson	director	C/O RED HAT, INC, 1801 VARSITY DRIVE, RALEIGH NC 27606
Steven A Collins	director	20 N. MERIDIAN STREET, SUITE 200, INDIANAPOLIS IN 46204
Ellen Levy	director	C/O INSTRUCTURE, INC., 6330 SOUTH 3000 EAST, SUITE 700, SALT LAKE CITY UT 84121
Jim Steele	director	C/O INTRALINKS, INC., 150 E. 42ND STREET, NEW YORK NY 10017
Openview Management, Llc	10 percent owner	C/O OPENVIEW VENTURE PARTNERS, 303 CONGRESS STREET, 6TH FLOOR, BOSTON MA 02210
Byron B Deeter	director	C/O BESSEMER VENTURE PARTNERS, 1865 PALMER AVENUE SUITE 104, LARCHMONT NY 10538
Insight Venture Partners Viii (co-investors), L.p.	10 percent owner	680 FIFTH AVENUE, 8TH FLOOR, NEW YORK NY 10019
Insight Venture Associates Viii, Ltd.	10 percent owner	1114 AVENUE OF THE AMERICAS, 36TH FLOOR, NEW YORK NY 10036
Insight Venture Associates Coinvestment Iii, Ltd.	10 percent owner	1114 AVENUE OF THE AMERICAS, 36TH FLOOR, NEW YORK NY 10036
Insight Venture Associates Coinvestment Iii, L.p.	10 percent owner	1114 AVENUE OF THE AMERICAS, 36 TH FLOOR, NEW YORK NY 10036
Insight Venture Associates Viii, L.p.	10 percent owner	1114 AVENUE OF THE AMERICAS, 36 TH FLOOR, NEW YORK NY 10036
Insight Venture Partners Coinvestment Fund (delaware) Iii, L.p.	10 percent owner	680 FIFTH AVENUE, 8TH FLOOR, NEW YORK NY 10019
Insight Venture Partners Coinvestment Fund Iii, L.p.	10 percent owner	680 FIFTH AVENUE, 8TH FLOOR, NEW YORK NY 10019
Insight Holdings Group, Llc	10 percent owner	1114 AVENUE OF THE AMERICAS, 36TH FLOOR, NEW YORK NY 10036
Insight Venture Partners Viii, L.p.	10 percent owner	P.O. BOX 309 UGLAND HOUSE, GRAND CAYMAN E9 KY1-1104