Market Cap : 1.54 B | Enterprise Value : 1.34 B | PE Ratio : 17.36 | PB Ratio : 1.82 |
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Photronics's earnings before interest and taxes (EBIT) for the three months ended in Apr. 2022 was $49.4 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Apr. 2022 was $164.8 Mil.
EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Photronics's annualized ROC % for the quarter that ended in Apr. 2022 was 17.66%. Photronics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2022 was 24.86%.
EBIT is also linked to Joel Greenblatt's definition of earnings yield. Photronics's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Apr. 2022 was 12.29%.
The historical data trend for Photronics'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.
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 Apr. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was $164.8 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.
1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
Photronics's annualized ROC % for the quarter that ended in Apr. 2022 is calculated as:
ROC % (Q: Apr. 2022 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (Q: Jan. 2022 ) | + | Invested Capital (Q: Apr. 2022 )) | / count ) |
= | 197.604 * ( 1 - 25.07% ) | / | ( (848.266 | + | 828.544) | / 2 ) |
= | 148.0646772 | / | 838.405 | |||
= | 17.66 % |
where
Invested Capital | (Q: Jan. 2022 ) | |||||||||||
= | 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 | )) |
= | 1335.248 | - | 172.787 | - | ( 314.195 | - | max(0, 191.094 | - | 597.779 | + | 314.195 | )) |
= | 848.266 |
Invested Capital | (Q: Apr. 2022 ) | |||||||||||
= | 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 | )) |
= | 1331.887 | - | 174.061 | - | ( 329.282 | - | max(0, 186.471 | - | 630.345 | + | 329.282 | )) |
= | 828.544 |
Note: The Operating Income data used here is four times the quarterly (Apr. 2022) data.
2. Joel Greenblatt's definition of Return on Capital:
Photronics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2022 is calculated as:
ROC (Joel Greenblatt) % | (Q: Apr. 2022 ) | ||||||
= | EBIT | / | Average of (Net fixed Assets | + | Net Working Capital) | ||
= | EBIT | / | Average of (Property, Plant and Equipment | + | Net Working Capital) | ||
Q: Jan. 2022 | Q: Apr. 2022 | ||||||
= | EBIT | / | ( ( (Property, Plant and Equipment + Net Working Capital) | + | (Property, Plant and Equipment + Net Working Capital) ) | / | count ) |
= | 197.604 | / | ( ( (692.289 + max(110.797, 0)) | + | (659.881 + max(127.002, 0)) ) | / | 2 ) |
= | 197.604 | / | ( ( 803.086 | + | 786.883 ) | / | 2 ) |
= | 197.604 | / | 794.9845 | ||||
= | 24.86 % |
where Working Capital is:
Working Capital | (Q: Jan. 2022 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (170.673 | + | 61.971 | + | 50.94) | - | (172.787 | + | 0 | + | 0) |
= | 110.797 |
Working Capital | (Q: Apr. 2022 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (190.259 | + | 57.94 | + | 52.864) | - | (174.061 | + | 0 | + | 0) |
= | 127.002 |
When net working capital is negative, 0 is used.
Note: The EBIT data used here is four times the quarterly (Apr. 2022) EBIT data.
3. It is also linked to Joel Greenblatt's definition of Earnings Yield:
Photronics's Earnings Yield (Joel Greenblatt) % for today is calculated as:
Earnings Yield (Joel Greenblatt) % | = | EBIT (TTM) | / | Enterprise Value (Q: Apr. 2022 ) |
= | 164.833 | / | 1341.347 | |
= | 12.29 % |
* 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.
Thank you for viewing the detailed overview of Photronics's EBIT provided by GuruFocus.com. Please click on the following links to see related term pages.
Lewis Adam M | director | 15 SECOR ROAD BROOKFIELD CT 06804 |
Liao Daniel Jl | director | 2045 EAST INNOVATION CIRCLE TEMPE AZ 85284 |
Paladino Mary | director | 15 SECOR ROAD BROOKFIELD CT 06804 |
Lee Kang Jyh | officer: President, Asia IC Photomask | 15 SECOR ROAD BROOKFIELD CT 06804 |
Jordan John P | officer: SVP & Chief Financial Officer | 600 EAST GREENWICH AVENUE WEST WARWICK RI 02893 |
Hsia Liang Choo | director | 15 SECOR RD. BROOKFIELD CT 06804 |
Gmt Capital Corp | 10 percent owner | GMT CAPITAL CORP 2300 WINDY RIDGE PARKWAY SUITE 550 SOUTH ATLANTA GA 30339 |
Burr Richelle E | officer: VP, General Counsel & Secy | 15 SECOR RD BROOKFIELD CT 06804 |
Kirlin Peter S | officer: Senior VP, U.S. & Europe | 15 SECOR ROAD BROOKFIELD CT 06804 |
Progler Christopher J | officer: VP,Chief Technology Officer | 15 SECOR ROAD BROOKFIELD CT 06804 |
Jeong Soo Hong | officer: COO, President-Asia Operations | 15 SECOR ROAD BROOKFIELD CT 06804 |
Luttati Michael J | director, officer: Chief Executive Officer | 15 SECOR ROAD BROOKFIELD CT 06804 |
Maris Willem D | director | 15 SECOR ROAD BROOKFIELD CT 06804 |
Tyson Mitchell G | director | 15 SECOR ROAD BROOKFIELD CT 06804 |
Yomazzo Michael J | director | 15 SECOR ROAD PO BOX 5226 BROOKFIELD CT 06804 |
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