Westfield Trust (ASX:WFT) EBIT: A$1,364.80 Mil (TTM As of Dec. 2003)


What is Westfield Trust EBIT?

Westfield Trust ASX:WFT EBIT is A$1,364.80 Mil as of Dec. 2003.

Westfield Trust's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2003 was A$1,364.80 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2003 was A$1,364.80 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Westfield Trust's annualized ROC % for the quarter that ended in Dec. 2003 was -5.18%. Westfield Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2003 was 12.39%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Westfield Trust's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2003 was 14.97%.

Westfield Trust  (ASX:WFT) EBIT Explanation

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

Westfield Trust's annualized ROC % for the quarter that ended in Dec. 2003 is calculated as:

ROC % (Q: Dec. 2003 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2002 ) + Invested Capital (Q: Dec. 2003 ))/ count )
=-1165.101 * ( 1 - 50.03% )/( (9649.6 + 12838.5)/ 2 )
=-582.2009697/11244.05
=-5.18 %

where

Invested Capital(Q: Dec. 2002 )
=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))
=9743.3 - 495.9 - ( 0 - max(0, 495.9 - 93.7+0))
=9649.6

Invested Capital(Q: Dec. 2003 )
=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))
=12603.3 - 589.5 - ( 0 - max(0, 1015.4 - 190.7+0))
=12838.5

Note: The Operating Income data used here is one times the annual (Dec. 2003) data.

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

Westfield Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2003 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2003 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2002  Q: Dec. 2003
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1364.8/( ( (8904.4 + max(914, 0)) + (11498.6 + max(707.2, 0)) )/ 2 )
=1364.8/( ( 9818.4 + 12205.8 )/ 2 )
=1364.8/11012.1
=12.39 %

where Working Capital is:

Working Capital(Q: Dec. 2002 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 43.9) - (495.9 + 0 + -1366)
=914

Working Capital(Q: Dec. 2003 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 108.6) - (589.5 + 0 + -1188.1)
=707.2

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (Dec. 2003) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2003 )
=1364.8/9119.825
=14.97 %

* 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.

Westfield Trust EBIT Related Terms

Westfield Trust EBIT Historical Data

* Premium members only.

The historical data trend for Westfield Trust'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.

Westfield Trust EBIT Chart

Westfield Trust Annual Data
Trend Dec95 Dec96 Dec97 Dec98 Dec99 Dec00 Dec01 Dec02
EBIT
Get a 7-Day Free Trial 587.30 769.90 1,080.20 1,034.10 1,132.70

Westfield Trust Semi-Annual Data
Dec95 Dec96 Dec97 Dec98 Dec99 Dec00 Dec01 Dec02 Dec03
EBIT Get a 7-Day Free Trial Premium Member Only 769.90 1,080.20 1,034.10 1,132.70 1,364.80

Westfield Trust EBIT Competitor Comparison

For the Real Estate - Development subindustry, Westfield Trust'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.

Westfield Trust EV-to-EBIT vs Real Estate Industry

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

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


Westfield Trust 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. EBIT for the trailing twelve months (TTM) ended in Dec. 2003 was A$1,364.80 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of A$1,364.80 Mil mean?
Westfield Trust (ASX:WFT) has a EBIT of A$1,364.80 Mil as of Dec. 2003. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Westfield Trust.
Is Westfield Trust's EBIT too high?
Westfield Trust's current EBIT is A$1,364.80 Mil.
How does Westfield Trust's EBIT compare to competitors?
Westfield Trust's EBIT of A$1,364.80 Mil can be compared against companies in the Real Estate industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Real Estate company?
A good EBIT depends on the Real Estate industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Westfield Trust. Westfield Trust's current EBIT is A$1,364.80 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Westfield Trust stock overvalued right now?
Westfield Trust (ASX:WFT) has a current EBIT of A$1,364.80 Mil. The current EBIT is A$1,364.80 Mil. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Westfield Trust (ASX:WFT), the current EBIT is A$1,364.80 Mil as of Dec. 2003. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Westfield Trust Business Description

Westfield Trust (WFT) comprises interests in 50 shopping centres in Australia and New Zealand, with 3.1m sqm2 of gross lettable area servicing more than 9,400 retailers who generate in excess of $13.9 billion of retail sales.