ValueCommerce Co (TSE:2491) EBIT

: 円7,381 Mil (TTM As of Mar. 2023)

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ValueCommerce Co's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2023 was 円1,489 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2023 was 円7,381 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. ValueCommerce Co's annualized ROC % for the quarter that ended in Mar. 2023 was 142.27%. ValueCommerce Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2023 was 2,802.82%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. ValueCommerce Co's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2023 was 27.85%.

ValueCommerce Co EBIT Historical Data

The historical data trend for ValueCommerce Co'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.

ValueCommerce Co Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

EBIT

3,755.60

4,953.30

6,218.00

7,906.00

8,249.00

ValueCommerce Co Quarterly Data
	Jun18	Sep18	Dec18	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23
EBIT																2,357.00	2,090.00	1,974.00	1,828.00	1,489.00

ValueCommerce Co 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 Mar. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was 円7,381 Mil.

ValueCommerce Co (TSE:2491) EBIT Explanation

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

ValueCommerce Co's annualized ROC % for the quarter that ended in Mar. 2023 is calculated as:

	ROC % (Q: Mar. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2022 )	+	Invested Capital (Q: Mar. 2023 ))	/ count )
=	5956 * ( 1 - 30.85% )	/	( (2681	+	3109)	/ 2 )
=	4118.574	/	2895
=	142.27 %

where

	Invested Capital		(Q: Dec. 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	))
=	28197	-	6702	-	( 20184	-	max(0, 7308	-	26122	+	20184	))
=	2681

	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	))
=	27164	-	5109	-	( 19803	-	max(0, 6223	-	25169	+	19803	))
=	3109

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

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

ValueCommerce Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2022		Q: Mar. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	5956	/	( ( (210 + max(-1370, 0))	+	(215 + max(-857, 0)) )	/	2 )
=	5956	/	( ( 210	+	215 )	/	2 )
=	5956	/	212.5
=	2,802.82 %

where Working Capital is:

	Working Capital		(Q: Dec. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4278	+	0	+	1660)	-	(6702	+	0	+	606)
=	-1370

	Working Capital		(Q: Mar. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3861	+	0	+	1505)	-	(5109	+	0	+	1114)
=	-857

When net working capital is negative, 0 is used.

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

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

ValueCommerce Co's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2023 )
	=	7381	/	26504.015
	=	27.85 %

ValueCommerce Co EBIT Related Terms

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ValueCommerce Co (TSE:2491) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » ValueCommerce Co Ltd (TSE:2491) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

Nihonseimei Akasaka Building 5F, 8-1-19 Akasaka, Minato, Tokyo, JPN, 107-0052

Website

http://www.valuecommerce.co.jp

ValueCommerce Co Ltd is a Japan-based information technology company engaged in the provision of internet advertising delivery services. The company's service portfolio comprises affiliate marketing service, StoreMatch service and Store's R8. The affiliate marketing service provides compensation based on the performances of advertising for e-commerce sites. The StoreMatch Service provides pay-per-click internet advertising for stores listing on online shopping malls. The Store's R8 service is a marketing automation system customized for Yahoo! shopping.

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