Magellan Midstream Partners LP (Magellan Midstream Partners LP) EBIT : $1,259 Mil (TTM As of Jun. 2023)

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What is Magellan Midstream Partners LP EBIT?

Magellan Midstream Partners LP's earnings before interest and taxes (EBIT) for the three months ended in Jun. 2023 was $297 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2023 was $1,259 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Magellan Midstream Partners LP's annualized ROC % for the quarter that ended in Jun. 2023 was 15.62%. Magellan Midstream Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2023 was 19.96%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Magellan Midstream Partners LP's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2023 was 6.66%.

Magellan Midstream Partners LP EBIT Historical Data

The historical data trend for Magellan Midstream Partners 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.

* Premium members only.

Magellan Midstream Partners LP EBIT Chart

Magellan Midstream Partners LP Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

EBIT

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1,537.52

1,191.20

1,013.80

1,161.00

1,089.90

Magellan Midstream Partners LP Quarterly Data
	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23
EBIT	Get a 7-Day Free Trial															239.60	386.10	244.50	331.90	296.60

Competitive Comparison of Magellan Midstream Partners LP's EBIT

For the Oil & Gas Midstream subindustry, Magellan Midstream Partners 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.

Magellan Midstream Partners LP's EV-to-EBIT Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Magellan Midstream Partners LP's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Magellan Midstream Partners LP's EV-to-EBIT falls into.

Magellan Midstream Partners 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 Jun. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $1,259 Mil.

Magellan Midstream Partners LP (NYSE:MMP) EBIT Explanation

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

Magellan Midstream Partners LP's annualized ROC % for the quarter that ended in Jun. 2023 is calculated as:

	ROC % (Q: Jun. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2023 )	+	Invested Capital (Q: Jun. 2023 ))	/ count )
=	1116.4 * ( 1 - 0.67% )	/	( (7147.8	+	7047.2)	/ 2 )
=	1108.92012	/	7097.5
=	15.62 %

where

	Invested Capital		(Q: Mar. 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	))
=	7567.1	-	438.6	-	( 7.4	-	max(0, 618.1	-	598.8	+	7.4	))
=	7147.8

	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	))
=	7629.2	-	525.8	-	( 128.4	-	max(0, 681.1	-	737.3	+	128.4	))
=	7047.2

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

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

Magellan Midstream Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2023		Q: Jun. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1186.4	/	( ( (5963.5 + max(-31.2, 0))	+	(5921.6 + max(-85.7, 0)) )	/	2 )
=	1186.4	/	( ( 5963.5	+	5921.6 )	/	2 )
=	1186.4	/	5942.55
=	19.96 %

where Working Capital is:

	Working Capital		(Q: Mar. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(160.2	+	326.6	+	69)	-	(438.6	+	109.6	+	38.8)
=	-31.2

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(169.5	+	330.1	+	74.5)	-	(525.8	+	94.1	+	39.9)
=	-85.7

When net working capital is negative, 0 is used.

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

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

Magellan Midstream Partners LP's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Jun. 2023 )
	=	1259.1	/	18898.296
	=	6.66 %

Magellan Midstream Partners LP EBIT Related Terms

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Magellan Midstream Partners LP (Magellan Midstream Partners LP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Energy » Oil & Gas » Magellan Midstream Partners LP (NYSE:MMP) » Definitions » EBIT

Comparable Companies

PAA WES TRGP AM ENLC DTM ETRN FRO PAGP CEQP TSX:ENB EPD ET WMB LNG KMI TSX:TRP MPLX OKE CQP

Traded in Other Exchanges

N/A

Address

One Williams Center, P.O. Box 22186, Tulsa, OK, USA, 74121-2186

Website

https://www.magellanlp.com

Magellan Midstream Partners is a master limited partnership that operates pipelines and storage terminals in the Central and Eastern United States. Its assets transport, store, and distribute refined petroleum products and crude and earn a fee-based stream of cash flows. Assets include the country's longest petroleum pipeline network and several crude oil pipelines. Refined products make about 70% of operating margin, with the remainder mainly crude-oil pipelines.

Executives

James R Hoskin	officer: Senior Vice President	ONE WILLIAMS CENTER, SUITE 2800, TULSA OK 74172
James R Montague	director	FIVE RADNOR CORPORATE CENTER, SUITE 500, RADNOR PA 19087
Kyle T Krshka	officer: Senior Vice President	ONE WILLIAMS CENTER, SUITE 2800, TULSA OK 74172
Sivasankaran Somasundaram	director	C/O APERGY CORPORATION, 2445 TECHNOLOGY FOREST BLVD, BLD 4, FL 9, THE WOODLANDS TX 77381
Melanie A Little	officer: Senior Vice President	ONE WILLIAMS CENTER, SUITE 2800, TULSA OK 74172
Mark B Roles	officer: Senior Vice President	ONE WILLIAMS CENTER, SUITE 2800, TULSA OK 74172
Lisa J Korner	officer: Vice President	ONE WILLIAMS CENTER, MD 28-1, TULSA OK 74172
Chansoo Joung	director	C/O WARBURG PINCUS LLC, 450 LEXINGTON AVENUE, NEW YORK NY 10017
Jeff R Selvidge	officer: Senior Vice President	ONE WILLIAMS CENTER SUITE 2800, TULSA OK 74172
Douglas J May	officer: Senior Vice President	ONE WILLIAMS CENTER, SUITE 4100, TULSA OK 74172
Robert G Croyle	director	ONE WILLIAMS CENTER, SUITE 2800, TULSA OK 74172
Michael C Pearson	officer: Senior Vice President	ONE WILLIAMS CENTER, SUITE 2800, TULSA OK 74172
Jeffrey L Holman	officer: Senior Vice President & CFO	ONE WILLIAMS CENTER, TULSA OK 74172
Michael N Mears	officer: Vice President	ONE WILLIAMS CENTER, MD 28-1, TULSA OK 74172
Lori Gobillot	director	5103 CITY WEST BLVD., 4TH FLOOR, HOUSTON TX 77042