Switch to:
Western Digital Corp  (NAS:WDC) EBIT: $1,382 Mil (TTM As of Mar. 2019)

Western Digital Corp's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2019 was $-359 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2019 was $1,382 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Western Digital Corp's annualized ROC % for the quarter that ended in Mar. 2019 was -8.95%. Western Digital Corp's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2019 was -31.86%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Western Digital Corp's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2019 was 6.60%.


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.

Western Digital Corp Annual Data

Jun09 Jun10 Jun11 Jun12 Jun13 Jun14 Jun15 Jun16 Jun17 Jun18
EBIT Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1,808.00 1,626.00 419.00 1,616.00 2,761.00

Western Digital Corp Quarterly Data

Jun14 Sep14 Dec14 Mar15 Jun15 Sep15 Dec15 Mar16 Jun16 Sep16 Dec16 Mar17 Jun17 Sep17 Dec17 Mar18 Jun18 Sep18 Dec18 Mar19
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 32.00 843.00 699.00 199.00 -359.00

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. 2019 was 843 (Jun. 2018 ) + 699 (Sep. 2018 ) + 199 (Dec. 2018 ) + -359 (Mar. 2019 ) = $1,382 Mil.

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


Explanation

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

Western Digital Corp's annualized ROC % for the quarter that ended in Mar. 2019 is calculated as:

ROC %(Q: Mar. 2019 )
=NOPAT/Average Invested Capital
=Operating Income*(1-Tax Rate)/( (Invested Capital (Q: Dec. 2018 ) + Invested Capital (Q: Mar. 2019 ))/2)
=-1272 * ( 1 - -21.8% )/( (17513 + 17117)/2)
=-1549.296/17315
=-8.95 %

where

Invested Capital(Q: Dec. 2018 )
=Book Value of Debt + Book Value of Equity - Cash
=Long-Term Debt & Capital Lease Obligation + Current Portion of Long-Term Debt + Total Stockholders Equity - Cash
=10370 + 244 + 10912 - 4013
=17513

Invested Capital(Q: Mar. 2019 )
=Book Value of Debt + Book Value of Equity - Cash
=Long-Term Debt & Capital Lease Obligation + Current Portion of Long-Term Debt + Total Stockholders Equity - Cash
=10309 + 276 + 10214 - 3682
=17117

Note: The Operating Income data used here is four times the quarterly (Mar. 2019) operating income data.

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

Western Digital Corp's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2019 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2019 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2018  Q: Mar. 2019
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/2 )
=-1436/( ( (3077 + max(1623, 0)) + (3031 + max(1284, 0)) )/2 )
=-1436/( ( 4700 + 4315 )/2 )
=-1436/4507.5
=-31.86 %

where Working Capital is:

Working Capital(Q: Dec. 2018 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1715 + 3427 + 587) - (3761 + 0 + 345)
=1623

Working Capital(Q: Mar. 2019 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1223 + 3440 + 557) - (3534 + 0 + 402)
=1284

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2019) EBIT data.

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

Western Digital Corp's Earnings Yield (Joel Greenblatt) %for the quarter that ended in Mar. 2019 is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2019 )
=1382/20936.52
=6.60 %

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


Related Terms


Headlines

No Headline

Get WordPress Plugins for easy affiliate links on Stock Tickers and Guru Names | Earn affiliate commissions by embedding GuruFocus Charts
GuruFocus Affiliate Program: Earn up to $400 per referral. ( Learn More)

GF Chat

{{numOfNotice}}
FEEDBACK