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Target EBIT

: $3,966 Mil (TTM As of Apr. 2020)
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Target's earnings before interest and taxes (EBIT) for the three months ended in Apr. 2020 was $446 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Apr. 2020 was $3,966 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Target's annualized ROC % for the quarter that ended in Apr. 2020 was 5.14%. Target's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2020 was 6.22%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Target's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Apr. 2020 was 5.94%.


Target EBIT Historical Data

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

* Premium members only.

Target Annual Data
Jan11 Jan12 Jan13 Jan14 Jan15 Jan16 Jan17 Jan18 Jan19 Jan20
EBIT Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5,530.00 4,952.00 4,283.00 4,137.00 4,667.00

Target Quarterly Data
Jul15 Oct15 Jan16 Apr16 Jul16 Oct16 Jan17 Apr17 Jul17 Oct17 Jan18 Apr18 Jul18 Oct18 Jan19 Apr19 Jul19 Oct19 Jan20 Apr20
EBIT 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 Premium Member Only Premium Member Only Premium Member Only 1,147.00 1,337.00 1,014.00 1,169.00 446.00

Target 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 Apr. 2020 was 1337 (Jul. 2019 ) + 1014 (Oct. 2019 ) + 1169 (Jan. 2020 ) + 446 (Apr. 2020 ) = $3,966 Mil.

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


Target  (NYSE:TGT) EBIT Explanation

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

Target's annualized ROC % for the quarter that ended in Apr. 2020 is calculated as:

ROC % (Q: Apr. 2020 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jan. 2020 ) + Invested Capital (Q: Apr. 2020 ))/ count )
=1872 * ( 1 - 13.68% )/( (32506 + 30359)/ 2 )
=1615.9104/31432.5
=5.14 %

where

Note: The Operating Income data used here is four times the quarterly (Apr. 2020) data.

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

Target's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2020 is calculated as:

ROC (Joel Greenblatt) %(Q: Apr. 2020 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jan. 2020  Q: Apr. 2020
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1784/( ( (28519 + max(-4763, 0)) + (28824 + max(-4195, 0)) )/ 2 )
=1784/( ( 28519 + 28824 )/ 2 )
=1784/28671.5
=6.22 %

where Working Capital is:

Working Capital(Q: Jan. 2020 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 8992 + 371) - (11858 + 0 + 2268)
=-4763

Working Capital(Q: Apr. 2020 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 8584 + 1465) - (14244 + 0 + 0)
=-4195

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Apr. 2020) EBIT data.

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

Target's Earnings Yield (Joel Greenblatt) %for the quarter that ended in Apr. 2020 is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Apr. 2020 )
=3966/66785.2208
=5.94 %

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


Target EBIT Related Terms


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