Aerovate Therapeutics (Aerovate Therapeutics) EBIT : $-88.39 Mil (TTM As of Mar. 2024)

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What is Aerovate Therapeutics EBIT?

Aerovate Therapeutics's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2024 was $-24.62 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2024 was $-88.39 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Aerovate Therapeutics's annualized ROC % for the quarter that ended in Mar. 2024 was -2,095.82%. Aerovate Therapeutics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was -10,436.88%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Aerovate Therapeutics's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was -17.89%.

Aerovate Therapeutics EBIT Historical Data

The historical data trend for Aerovate Therapeutics'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.

Aerovate Therapeutics EBIT Chart

Aerovate Therapeutics Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

-3.33

-8.89

-23.02

-53.24

-81.41

Aerovate Therapeutics Quarterly Data
	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
EBIT	Get a 7-Day Free Trial													-17.64	-20.34	-21.37	-22.07	-24.62

Competitive Comparison of Aerovate Therapeutics's EBIT

For the Biotechnology subindustry, Aerovate Therapeutics'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.

Aerovate Therapeutics's EV-to-EBIT Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Aerovate Therapeutics's EV-to-EBIT distribution charts can be found below:

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

Aerovate Therapeutics 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 Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-88.39 Mil.

Aerovate Therapeutics (NAS:AVTE) EBIT Explanation

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

Aerovate Therapeutics's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

	ROC % (Q: Mar. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Mar. 2024 ))	/ count )
=	-98.472 * ( 1 - 0% )	/	( (4.696	+	4.701)	/ 2 )
=	-98.472	/	4.6985
=	-2,095.82 %

where

	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	))
=	127.418	-	16.127	-	( 122.439	-	max(0, 17.637	-	124.232	+	122.439	))
=	4.696

	Invested Capital		(Q: Mar. 2024 )
=	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	))
=	106.821	-	14.399	-	( 99.334	-	max(0, 15.518	-	103.239	+	99.334	))
=	4.701

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

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

Aerovate Therapeutics's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2023		Q: Mar. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-98.472	/	( ( (0.902 + max(-15.424, 0))	+	(0.985 + max(-11.168, 0)) )	/	2 )
=	-98.472	/	( ( 0.902	+	0.985 )	/	2 )
=	-98.472	/	0.9435
=	-10,436.88 %

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	1.793)	-	(16.127	+	0	+	1.09)
=	-15.424

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	3.905)	-	(14.399	+	0	+	0.674)
=	-11.168

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2024 )
	=	-88.388	/	494.027
	=	-17.89 %

Aerovate Therapeutics EBIT Related Terms

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Aerovate Therapeutics (Aerovate Therapeutics) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » Aerovate Therapeutics Inc (NAS:AVTE) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

930 Winter Street, Suite M-500, Waltham, MA, USA, 02451

Website

https://www.aerovatetx.com

Aerovate Therapeutics Inc is a clinical-stage biopharmaceutical company focused on developing drugs that improve the lives of patients with rare cardiopulmonary disease. Its initial focus is on advancing AV-101, dry powder inhaled formulation of imatinib for the treatment of pulmonary arterial hypertension, a devastating disease impacting people in the United States and Europe.

Executives

Hunter Gillies	officer: Chief Medical Officer	C/O AEROVATE THERAPEUTICS, INC., 200 BERKELEY STREET, FLOOR 18, BOSTON MA 02116
Ralph Niven	officer: Chief Development Officer	C/O AEROVATE THERAPEUTICS, INC., 200 BERKELEY STREET, FLOOR 18, BOSTON MA 02116
Benjamin T Dake	officer: See Remarks	C/O AEROVATE THERAPEUTICS, INC., 200 BERKELEY STREET, FLOOR 18, BOSTON MA 02116
Marinus Verwijs	officer: SENIOR VICE PRESIDENT, CMC	C/O AEROVATE THERAPEUTICS, INC., 200 BERKELEY STREET, FLOOR 18, BOSTON MA 02116
Timothy P Noyes	director, officer: Chief Executive Officer	1365 MAIN STREET, WALTHAM MA 02451
Habib J Dable	director	C/O ACCELERON PHARMA INC., 128 SIDNEY STREET, CAMBRIDGE MA 02139
Timothy Pigot	officer: Chief Commercial Officer	AEROVATE THERAPEUTICS, INC., 930 WINTER STREET, SUITE M-500, WALTHAM MA 02451
Donald J Santel	director	4362 24TH STREET, SAN FRANCISCO CA 94114
George A Eldridge	officer: See Remarks	C/O TARGANTA THERAPEUTICS CORPORATION, 222 THIRD STREET SUITE 2300, CAMBRIDGE MA 02142
Allison Dorval	director	C/O INSULET CORPORATION, 600 TECHNOLOGY PARK DRIVE, SUITE 200, BILLERICA MA 01821
Cormorant Asset Management, Lp	10 percent owner	200 CLARENDON STREET, 52ND FLOOR, BOSTON MA 02116
Maha Katabi	director, 10 percent owner	SOFINNOVA INVESTMENTS, 3000 SAND HILL ROAD, 4-250, MENLO PARK CA 94025
Ra Capital Healthcare Fund Lp	director, 10 percent owner	200 BERKELEY STREET, 18TH FLOOR, BOSTON MA 02116
Ra Capital Management, L.p.	director, 10 percent owner	200 BERKELEY STREET, 18TH FLOOR, BOSTON MA 02116
Peter Kolchinsky	director, 10 percent owner	200 BERKELEY STREET, 18TH FLOOR, BOSTON MA 02116