Lendlease Group (ASX:LLC) EBIT : A$-63 Mil (TTM As of Dec. 2023)

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What is Lendlease Group EBIT?

Lendlease Group's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was A$-51 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was A$-63 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Lendlease Group's annualized ROC % for the quarter that ended in Dec. 2023 was 0.15%. Lendlease Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -43.40%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Lendlease Group's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -0.77%.

Lendlease Group EBIT Historical Data

The historical data trend for Lendlease Group'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.

Lendlease Group EBIT Chart

Lendlease Group Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

EBIT

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762.00

-396.00

421.00

-69.00

-80.00

Lendlease Group 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															-337.00	268.00	-68.00	-12.00	-51.00

Competitive Comparison of Lendlease Group's EBIT

For the Real Estate - Diversified subindustry, Lendlease Group'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.

Lendlease Group's EV-to-EBIT Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Lendlease Group's EV-to-EBIT distribution charts can be found below:

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

Lendlease Group 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$-63 Mil.

Lendlease Group (ASX:LLC) EBIT Explanation

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

Lendlease Group'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 )
=	26 * ( 1 - 21.39% )	/	( (14147	+	13250)	/ 2 )
=	20.4386	/	13698.5
=	0.15 %

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	))
=	18214	-	4646	-	( 900	-	max(0, 5429	-	4850	+	900	))
=	14147

	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	))
=	18168	-	4794	-	( 621	-	max(0, 5721	-	5845	+	621	))
=	13250

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:

Lendlease Group'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 )
=	-102	/	( ( (247 + max(-3108, 0))	+	(223 + max(-478, 0)) )	/	2 )
=	-102	/	( ( 247	+	223 )	/	2 )
=	-102	/	235
=	-43.40 %

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)
=	(651	+	1562	+	89)	-	(4646	+	3	+	761)
=	-3108

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2762	+	1148	+	1314)	-	(4794	+	41	+	867)
=	-478

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:

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	-63	/	8206.957
	=	-0.77 %

Lendlease Group EBIT Related Terms

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Lendlease Group (ASX:LLC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Lendlease Group (ASX:LLC) » Definitions » EBIT

Comparable Companies

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LLESY:USA LLESF:USA

Address

Level 14, Tower Three, 300 Barangaroo Avenue, International Towers Sydney, Exchange Place, Barangaroo, Sydney, NSW, AUS, 2000

Website

https://www.lendlease.com

Lendlease's business comprises three segments: development, investments, and construction. Development accounted for more than half of EBITDA in 2020, and the future pipeline is so large it cannot be funded from its own balance sheet. The group is selling stakes in mature projects to its funds management clients. This sacrifices development profit, in return for management fees, reduced risk, and capital to accelerate new projects in the pipeline. Construction generates large revenues but slim margins. This business is retained to preserve expertise and scale for the development business. Lendlease sold its engineering and services business during the pandemic, but retains some risks, notably the Melbourne Metro project. It is also reducing its exposure to retirement living.

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