Melco Resorts and Entertainment (Melco Resorts and Entertainment) EBIT : $90 Mil (TTM As of Dec. 2023)

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What is Melco Resorts and Entertainment EBIT?

Melco Resorts and Entertainment's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $-83 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $90 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Melco Resorts and Entertainment's annualized ROC % for the quarter that ended in Dec. 2023 was -5.42%. Melco Resorts and Entertainment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -5.86%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Melco Resorts and Entertainment's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 0.98%.

Melco Resorts and Entertainment EBIT Historical Data

The historical data trend for Melco Resorts and Entertainment'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.

Melco Resorts and Entertainment EBIT Chart

Melco Resorts and Entertainment Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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712.67

-1,116.69

-603.04

-715.21

90.48

Melco Resorts and Entertainment 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															-188.74	6.06	71.29	96.35	-83.22

Competitive Comparison of Melco Resorts and Entertainment's EBIT

For the Resorts & Casinos subindustry, Melco Resorts and Entertainment'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.

Melco Resorts and Entertainment's EV-to-EBIT Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Melco Resorts and Entertainment's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Melco Resorts and Entertainment's EV-to-EBIT falls into.

Melco Resorts and Entertainment 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 $90 Mil.

Melco Resorts and Entertainment (NAS:MLCO) EBIT Explanation

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

Melco Resorts and Entertainment'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 )
=	-363.332 * ( 1 - -6.94% )	/	( (7093.899	+	7245.187)	/ 2 )
=	-388.5472408	/	7169.543
=	-5.42 %

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	))
=	8713.85	-	957.744	-	( 1417.998	-	max(0, 1011.617	-	1673.824	+	1417.998	))
=	7093.899

	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	))
=	8335.072	-	649.213	-	( 1310.715	-	max(0, 1103.62	-	1544.292	+	1310.715	))
=	7245.187

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

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

Melco Resorts and Entertainment'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 )
=	-332.876	/	( ( (5758.281 + max(-702.919, 0))	+	(5604.059 + max(-815.848, 0)) )	/	2 )
=	-332.876	/	( ( 5758.281	+	5604.059 )	/	2 )
=	-332.876	/	5681.17
=	-5.86 %

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)
=	(95.716	+	28.106	+	131.003)	-	(957.744	+	0	+	-1.1368683772162E-13)
=	-702.919

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(91.638	+	29.427	+	111.715)	-	(649.213	+	250.955	+	148.46)
=	-815.848

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:

Melco Resorts and Entertainment's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	90.483	/	9254.987
	=	0.98 %

Melco Resorts and Entertainment EBIT Related Terms

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Melco Resorts and Entertainment (Melco Resorts and Entertainment) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Melco Resorts and Entertainment Ltd (NAS:MLCO) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

0A2P:UK M1LC34:Brazil

Address

60 Wyndham Street, 38th Floor, The Centrium, Central, Hong Kong, HKG

Website

https://www.melco-resorts.com

Melco Resorts & Entertainment is one of only six licensed casino operators in Macao. It operates Altira, a complex focused on VIP customers; City of Dreams, an integrated resort in Cotai serving both mass-market and premium patrons; and Mocha Clubs electronic gaming machines. The company also has a majority interest in Studio City, which opened in 2015. Outside Macao, Melco owns City of Dreams Manila in the Philippines and City of Dreams Mediterranean in Cyprus. The business mix in terms of adjusted EBITDA was about 84% from Macao with the rest largely from the Philippines as of 2019.