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Aena SME (XMAD:AENA) EBIT : €2,404 Mil (TTM As of Dec. 2023)


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What is Aena SME EBIT?

Aena SME's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was €743 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was €2,404 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Aena SME's annualized ROC % for the quarter that ended in Dec. 2023 was 11.31%. Aena SME's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 24.80%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Aena SME's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 7.65%.


Aena SME EBIT Historical Data

The historical data trend for Aena SME'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.

Aena SME EBIT Chart

Aena SME Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,973.80 -128.30 -651.08 1,261.71 2,403.72

Aena SME Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
EBIT Get a 7-Day Free Trial 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 321.97 222.14 666.74 772.12 742.71

Competitive Comparison of Aena SME's EBIT

For the Airports & Air Services subindustry, Aena SME's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Aena SME's EV-to-EBIT Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, Aena SME's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Aena SME's EV-to-EBIT falls into.



Aena SME 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 Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was €2,404 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.


Aena SME  (XMAD:AENA) EBIT Explanation

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

Aena SME's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

ROC % (Q: Dec. 2023 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2023 ) + Invested Capital (Q: Dec. 2023 ))/ count )
=2316.2 * ( 1 - 25.5% )/( (15246.669 + 15277.044)/ 2 )
=1725.569/15261.8565
=11.31 %

where

Invested Capital(Q: Sep. 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))
=17039.998 - 1052.764 - ( 1969.859 - max(0, 2178.515 - 2919.08+1969.859))
=15246.669

Invested Capital(Q: Dec. 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))
=17556.226 - 1559.554 - ( 2363.125 - max(0, 2661.301 - 3380.929+2363.125))
=15277.044

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

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

Aena SME's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2023 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2023  Q: Dec. 2023
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2970.84/( ( (11913.512 + max(-161.328, 0)) + (12042.728 + max(-817.329, 0)) )/ 2 )
=2970.84/( ( 11913.512 + 12042.728 )/ 2 )
=2970.84/11978.12
=24.80 %

where Working Capital is:

Working Capital(Q: Sep. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(901.831 + 6.822 + 40.568) - (1052.764 + 0 + 57.785)
=-161.328

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(978.969 + 6.04 + 32.795) - (1559.554 + 0 + 275.579)
=-817.329

When net working capital is negative, 0 is used.

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

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

Aena SME's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2023 )
=2403.719/31402.089
=7.65 %

* 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.


Aena SME EBIT Related Terms

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Aena SME (XMAD:AENA) Business Description

Address
Calle Peonias, 12, Madrid, ESP, 28042
Aena is a Spanish airport operator with 46 airports in Spain, including Madrid and Barcelona, and has stakes in 23 international airports. The group generates regulated and nonregulated revenue. Regulated revenue includes fees collected from takeoff and landing, passenger fees and security, whereas nonregulated revenue stems from commercial activities such as retail, food and beverage and advertising sales. In 2019, before the onset of the pandemic, the group catered to 275 million passengers through its Spanish airport network. The group was semiprivatized in 2015, with a listing on the Madrid exchange.

Aena SME (XMAD:AENA) Headlines

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