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EBIT

: $ Mil (TTM As of . 20)
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's earnings before interest and taxes (EBIT) for the six months ended in . 20 was $0.00 Mil.

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

EBIT is also linked to Joel Greenblatt's definition of earnings yield.


EBIT Historical Data

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.

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Annual Data
EBIT

Semi-Annual Data
EBIT

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.

For stock reported semi-annually, GuruFocus uses latest annual data as the TTM data. EBIT for the trailing twelve months (TTM) ended in . 20 was $ Mil.

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


  (:) EBIT Explanation

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

's annualized ROC % for the quarter that ended in . 20 is calculated as:

ROC %(Q: . 20 )
=NOPAT/Average Invested Capital
=Operating Income*(1-Tax Rate)/( (Invested Capital (Q: . 20 ) + Invested Capital (Q: . 20 ))/2)
= * ( 1 - % )/( ( + )/2)
=/
= %

where

Invested Capital(Q: . 20 )
=Book Value of Debt + Book Value of Equity - Cash
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation + Total Stockholders Equity - Cash
= + + -
=

Invested Capital(Q: . 20 )
=Book Value of Debt + Book Value of Equity - Cash
=Long-Term Debt & Capital Lease Obligation + Short-Term Debt & Capital Lease Obligation + Total Stockholders Equity - Cash
= + + -
=

Note: The Operating Income data used here is one times the annual (. 20) operating income data.

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

's annualized ROC (Joel Greenblatt) % for the quarter that ended in . 20 is calculated as:

ROC (Joel Greenblatt) %(Q: . 20 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: . 20  Q: . 20
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/2 )
=/( ( ( + max(, 0)) + ( + max(, 0)) )/2 )
=/( ( + )/2 )
=/
= %

where Working Capital is:

Working Capital(Q: . 20 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=( + + ) - ( + + )
=

Working Capital(Q: . 20 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=( + + ) - ( + + )
=

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (. 20) EBIT data.

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

's Earnings Yield (Joel Greenblatt) %for the quarter that ended in . 20 is calculated as:

* All numbers are in millions except for per share data and ratio. All numbers are in their local exchange's currency.


EBIT Related Terms


EBIT Headlines

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