Accordia Golf Co (Accordia Golf Co) EBIT : $75.7 Mil (TTM As of Dec. 2016)

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What is Accordia Golf Co EBIT?

Accordia Golf Co's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2016 was $32.4 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2016 was $75.7 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Accordia Golf Co's annualized ROC % for the quarter that ended in Dec. 2016 was 4.14%. Accordia Golf Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2016 was 14.34%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Accordia Golf Co's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2016 was 9.95%.

Accordia Golf Co EBIT Historical Data

The historical data trend for Accordia Golf 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.

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Accordia Golf Co EBIT Chart

Accordia Golf Co Annual Data

Trend

Mar07

Mar08

Mar09

Mar10

Mar11

Mar12

Mar13

Mar14

Mar15

Mar16

EBIT

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143.41

138.16

118.60

98.43

88.23

Accordia Golf Co Quarterly Data
	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16
EBIT	Get a 7-Day Free Trial															34.43	8.11	26.03	9.15	32.40

Competitive Comparison of Accordia Golf Co's EBIT

For the Leisure subindustry, Accordia Golf Co'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.

Accordia Golf Co's EV-to-EBIT Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Accordia Golf Co's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Accordia Golf Co's EV-to-EBIT falls into.

Accordia Golf 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 Dec. 2016 adds up the quarterly data reported by the company within the most recent 12 months, which was $75.7 Mil.

Accordia Golf Co (OTCPK:ACGFY) EBIT Explanation

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

Accordia Golf Co's annualized ROC % for the quarter that ended in Dec. 2016 is calculated as:

	ROC % (Q: Dec. 2016 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2016 )	+	Invested Capital (Q: Dec. 2016 ))	/ count )
=	89.788 * ( 1 - 27.96% )	/	( (1773.908	+	1353.036)	/ 2 )
=	64.6832752	/	1563.472
=	4.14 %

where

	Invested Capital		(Q: Sep. 2016 )
=	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	))
=	1482.624	-	31.72	-	( 39.239	-	max(0, 432.844	-	109.84	+	39.239	))
=	1773.908

	Invested Capital		(Q: Dec. 2016 )
=	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	))
=	1287.871	-	19.068	-	( 35.71	-	max(0, 181.253	-	97.02	+	35.71	))
=	1353.036

Note: The Operating Income data used here is four times the quarterly (Dec. 2016) data.

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

Accordia Golf Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2016 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2016 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2016		Q: Dec. 2016
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	129.584	/	( ( (967.913 + max(-48, 0))	+	(839.315 + max(-27.707, 0)) )	/	2 )
=	129.584	/	( ( 967.913	+	839.315 )	/	2 )
=	129.584	/	903.614
=	14.34 %

where Working Capital is:

	Working Capital		(Q: Sep. 2016 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(22.769	+	21.551	+	26.281)	-	(31.72	+	0	+	86.881)
=	-48

	Working Capital		(Q: Dec. 2016 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(20.371	+	18.62	+	22.319)	-	(19.068	+	0	+	69.949)
=	-27.707

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2016) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2016 )
	=	75.686	/	760.519
	=	9.95 %

Accordia Golf Co EBIT Related Terms

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Accordia Golf Co (Accordia Golf Co) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Accordia Golf Co Ltd (OTCPK:ACGFY) » Definitions » EBIT

Traded in Other Exchanges

N/A

Address

Website

http://www.accordiagolf.co.jp

Accordia Golf Co Ltd is a Japan-based company primarily involved in the golf business. It owns, operates, and manages golf courses and golf practice ranges in Japan. The activity of golf courses is primarily operated in metropolitan areas and regional urban centers under the Accordia Golf brand name. In addition, the group is also engaged in the operation of restaurants and hotels. It derives revenue from the playing fees, membership fees, sale of golf equipment and rest through the restaurants and hotels activities.

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