GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » AvalonBay Communities Inc (NYSE:AVB) » Definitions » EBIT

AvalonBay Communities (AvalonBay Communities) EBIT : $1,145 Mil (TTM As of Dec. 2023)


View and export this data going back to 1994. Start your Free Trial

What is AvalonBay Communities EBIT?

AvalonBay Communities's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $294 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $1,145 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. AvalonBay Communities's annualized ROC % for the quarter that ended in Dec. 2023 was 4.45%. AvalonBay Communities's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 869.58%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. AvalonBay Communities's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 3.28%.


AvalonBay Communities EBIT Historical Data

The historical data trend for AvalonBay Communities'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.

AvalonBay Communities EBIT Chart

AvalonBay Communities Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,002.69 1,038.61 1,230.50 1,381.16 1,144.58

AvalonBay Communities Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
EBIT Get a 7-Day Free Trial 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 305.31 207.16 419.18 224.28 293.98

Competitive Comparison of AvalonBay Communities's EBIT

For the REIT - Residential subindustry, AvalonBay Communities'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.


AvalonBay Communities's EV-to-EBIT Distribution in the REITs Industry

For the REITs industry and Real Estate sector, AvalonBay Communities's EV-to-EBIT distribution charts can be found below:

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



AvalonBay Communities 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 $1,145 Mil.

* 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.


AvalonBay Communities  (NYSE:AVB) EBIT Explanation

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

AvalonBay Communities'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 )
=902.56 * ( 1 - 1% )/( (19992.721 + 20147.254)/ 2 )
=893.5344/20069.9875
=4.45 %

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))
=20702.838 - 758.207 - ( 508.571 - max(0, 828.196 - 780.106+508.571))
=19992.721

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))
=20678.214 - 694.554 - ( 397.89 - max(0, 694.554 - 530.96+397.89))
=20147.254

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

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

AvalonBay Communities'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 )
=1175.9/( ( (135.779 + max(-486.672, 0)) + (134.674 + max(-561.484, 0)) )/ 2 )
=1175.9/( ( 135.779 + 134.674 )/ 2 )
=1175.9/135.2265
=869.58 %

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)
=(0 + 0 + 271.535) - (758.207 + 0 + 0)
=-486.672

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 133.07) - (694.554 + 0 + 0)
=-561.484

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:

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2023 )
=1144.583/34848.760
=3.28 %

* 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.


AvalonBay Communities EBIT Related Terms

Thank you for viewing the detailed overview of AvalonBay Communities's EBIT provided by GuruFocus.com. Please click on the following links to see related term pages.


AvalonBay Communities (AvalonBay Communities) Business Description

Traded in Other Exchanges
Address
4040 Wilson Boulevard, Suite 1000, Arlington, VA, USA, 22203
AvalonBay Communities owns a portfolio of 276 apartment communities with over 82,000 units and is developing 18 additional properties with over 5,700 units. The company focuses on owning large, high-quality properties in major metropolitan areas of New England, New York/New Jersey, Washington D.C., California, and the Pacific Northwest.
Executives
Joanne M Lockeridge officer: Executive Vice President 4040 WILSON BOULEVARD, SUITE 1000, ARLINGTON VA 22203
Matthew H. Birenbaum officer: EVP, Strategy & Portfolio Mgmt 671 NORTH GLEBE ROAD, SUITE 800, ARLINGTON VA 22203
Mueller Charles E Jr director C/O AVALONBAY COMMUNITIES, INC., 4040 WILSON BLVD., SUITE 1000, ARLINGTON VA 22027
Edward M Schulman officer: Vice President-General Counsel
William M Mclaughlin officer: Executive Vice President AVALONBAY COMMUNITIES, INC., 2900 EISENHOWER AVENUE, SUITE 300, ALEXANDRIA VA 22314
Timothy J Naughton officer: Chief Operating Officer 2900 ELSENHOWER AVE 3RD FL, ALEXANDRIA VA 22314
Sean J. Breslin officer: Senior Vice President 2900 EISENHOWER AVE., SUITE 300, ALEXANDRIA VA 22314
Keri A Shea officer: VP-Finance and Treasurer 2900 EISEHOWER AVE., SUITE 300, ALEXANDRIA VA 22314
Kevin P. O'shea officer: Executive Vice President 671 N. GLEBE ROAD, SUITE 800, ARLINGTON VA 22203
Nnenna Lynch director 4040 WILSON BOULEVARD, SUITE1000, ARLINGTON VA 22203
Christopher B. Howard director 4040 WILSON BOULEVARD, SUITE 1000, ARLINGTON VA 22203
Benjamin Schall director, officer: President 261 BROADWAY, NO.11B, NEW YORK NY 10007
W Edward Walter director
Horey Leo S Iii officer: Senior Vice President 2900 ELSENHOWER AVE 3RD FL, ALEXANDRIA VA 22314
Stephen W Wilson officer: Executive Vice President C/O PS BUSINESS PARKS, INC., 701 WESTERN AVENUE, GLENDALE CA 91201

AvalonBay Communities (AvalonBay Communities) Headlines

From GuruFocus

Q3 2023 Avalonbay Communities Inc Earnings Call Transcript

By GuruFocus Research 01-22-2024

Q1 2021 Avalonbay Communities Inc Earnings Call Transcript

By GuruFocus Research 01-22-2024

Q1 2020 AvalonBay Communities Inc Earnings Call Transcript

By GuruFocus Research 01-22-2024

Q4 2022 Avalonbay Communities Inc Earnings Call Transcript

By GuruFocus Research 01-22-2024

Q4 2018 AvalonBay Communities Inc Earnings Call Transcript

By GuruFocus Research 01-22-2024

Q3 2022 Avalonbay Communities Inc Earnings Call Transcript

By GuruFocus Research 01-22-2024

Q1 2019 AvalonBay Communities Inc Earnings Call Transcript

By GuruFocus Research 01-22-2024

Q1 2023 Avalonbay Communities Inc Earnings Call Transcript

By GuruFocus Research 01-22-2024

Q3 2021 Avalonbay Communities Inc Earnings Call Transcript

By GuruFocus Research 01-22-2024