CVC (ASX:CVC) EBIT : A$25.00 Mil (TTM As of Dec. 2023)

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What is CVC EBIT?

CVC's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was A$2.17 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was A$25.00 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. CVC's annualized ROC % for the quarter that ended in Dec. 2023 was -1.53%. CVC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 135.73%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. CVC's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 7.60%.

CVC EBIT Historical Data

The historical data trend for CVC'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.

CVC EBIT Chart

CVC Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

EBIT

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6.71

4.08

47.74

24.38

26.79

CVC Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
EBIT	Get a 7-Day Free Trial															22.81	1.57	3.96	22.83	2.17

Competitive Comparison of CVC's EBIT

For the Asset Management subindustry, CVC'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.

CVC's EV-to-EBIT Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, CVC's EV-to-EBIT distribution charts can be found below:

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

CVC 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 semi-annually data reported by the company within the most recent 12 months, which was A$25.00 Mil.

CVC (ASX:CVC) EBIT Explanation

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

CVC'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: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	-6.956 * ( 1 - 39.61% )	/	( (226.736	+	322.667)	/ 2 )
=	-4.2007284	/	274.7015
=	-1.53 %

where

	Invested Capital		(Q: Jun. 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	))
=	283.061	-	4.932	-	( 51.393	-	max(0, 12.525	-	101.162	+	51.393	))
=	226.736

	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	))
=	342.136	-	1.34	-	( 44.376	-	max(0, 32.645	-	50.774	+	44.376	))
=	322.667

Note: The Operating Income data used here is two times the semi-annual (Dec. 2023) data.

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

CVC'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: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	4.344	/	( ( (1.461 + max(-1.865, 0))	+	(1.214 + max(3.726, 0)) )	/	2 )
=	4.344	/	( ( 1.461	+	4.94 )	/	2 )
=	4.344	/	3.2005
=	135.73 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.887	+	4.721	+	2.507)	-	(4.932	+	5.265	+	0.783)
=	-1.865

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	5.755	+	0.643)	-	(1.34	+	0.586	+	0.74600000000001)
=	3.726

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	25.003	/	329.037
	=	7.60 %

CVC EBIT Related Terms

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CVC (ASX:CVC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » CVC Ltd (ASX:CVC) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

Level 40, Governor Philip Tower, Suite 4, 1 Farrer Place, Sydney, NSW, AUS, 2000

Website

https://www.cvc.com.au

CVC Ltd is a diversified investment company that invests patient capital in a combination of listed, unlisted, and property investments. It is organized into the following business segments: Property Investment, Non-Property Investment. Property Investment includes investments in property-related ordinary equity, preferred equity, joint ventures, options to acquire an interest in direct property subject to planning outcomes, and property-backed lending comprising loans backed by underlying property assets. Non-Property Investment comprises listed investments, unlisted investments, and secured lending opportunities that are non-property related. It also includes receivables, litigation claims, and other investments. The company operates predominantly in Australia.