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Kayne Anderson Energy Development Co  (NYSE:KED) Net Income: $23.52 Mil (TTM As of May. 2017)

Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax. Kayne Anderson Energy Development Co's net income for the six months ended in May. 2017 was $2.20 Mil. Its net income for the trailing twelve months (TTM) ended in May. 2017 was $23.52 Mil.

Net Income is linked to the most popular Earnings per Share (Diluted) number. Kayne Anderson Energy Development Co's Earnings per Share (Diluted) for the six months ended in May. 2017 was $0.21.


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.

Kayne Anderson Energy Development Co Annual Data

Nov07 Nov08 Nov09 Nov10 Nov11 Nov12 Nov13 Nov14 Nov15 Nov16
Net Income Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 24.32 83.32 54.83 -127.99 23.52

Kayne Anderson Energy Development Co Semi-Annual Data

Nov07 May08 Nov08 May09 Nov09 May10 Nov10 May11 Nov11 May12 Nov12 May13 Nov13 May14 Nov14 May15 Nov15 May16 Nov16 May17
Net Income 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 -36.56 -91.43 6.53 16.99 2.20

Calculation

Net Income is the net profit that a company earns after deducting all costs and losses including cost of goods, SGA, DDA, interest expenses, non-recurring items and tax.

Net Income
= Revenue - Cost of Goods Sold - Selling, General, & Admin. Expense - Research & Development - Depreciation, Depletion and Amortization - Interest Expense - Non-Recurring Items (NRI) - Tax Expense + Others
= - Depreciation, Depletion and Amortization - Interest Expense - Non-Recurring Items (NRI) - Tax Expense + Others
= Operating Income - Interest Expense - Non-Recurring Items (NRI) - Tax Expense + Others
= Pre-Tax Income - Tax Expense + Others

Kayne Anderson Energy Development Co's Net Income for the fiscal year that ended in Nov. 2016 is calculated as

Net Income(A: Nov. 2016 )
= Pre-Tax Income + Tax Provision + Other Income (Expense) + Net Income (Discontinued Operations)
=21.392+2.123+0+0
=23.52

Kayne Anderson Energy Development Co's Net Income for the quarter that ended in May. 2017 is calculated as

Net Income(Q: May. 2017 )
= Pre-Tax Income + Tax Provision + Other Income (Expense) + Net Income (Discontinued Operations)
=1.194+1.007+0+0
=2.20

For stock reported semi-annually, GuruFocus uses latest annual data as the TTM data. Net Income for the trailing twelve months (TTM) ended in May. 2017 was $23.52 Mil.

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


Explanation

Net income is the most widely cited number in reporting a company's profitability. It is linked to the most popular earnings-per-share (EPS) number through:

Kayne Anderson Energy Development Co's Earnings per Share (Diluted) (EPS) for the quarter that ended in May. 2017 is calculated as

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

Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.

EPS is most useful for companies that have:

A predictable business
Consistent accounting methods
And few restructurings

The dividend paid to preferred stocks needs to be subtracted from the total net income in the calculation of EPS because common stock holders are not entitled to that part of the net income.


Be Aware

Warren Buffett looks for consistency and upward long term trend. Because of share repurchase it is possible for net earnings trend to differ from EPS trend. He preferred net income over EPS. The companies with durable competitive advantage companies report higher % net earnings to total revenues.

Important: If a company is showing net earnings history greater than 20% on total revenues, it is probably benefiting from a long term competitive advantage.

If net earnings is less than 10%, likely to be in a highly competitive business.


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