CMIM (Changming Industrial Management Group Holding) EBIT : $-0.83 Mil (TTM As of Jun. 2009)

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What is Changming Industrial Management Group Holding EBIT?

Changming Industrial Management Group Holding's earnings before interest and taxes (EBIT) for the three months ended in Jun. 2009 was $0.29 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2009 was $-0.83 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Changming Industrial Management Group Holding's annualized ROC % for the quarter that ended in Jun. 2009 was -15.75%. Changming Industrial Management Group Holding's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2009 was 327.02%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Changming Industrial Management Group Holding's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2009 was -83,000.00%.

Changming Industrial Management Group Holding EBIT Historical Data

The historical data trend for Changming Industrial Management Group Holding'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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Changming Industrial Management Group Holding EBIT Chart

Changming Industrial Management Group Holding Annual Data

Trend

May07

May08

EBIT

-0.05

-0.02

Changming Industrial Management Group Holding Quarterly Data
	Nov06	Feb07	May07	Aug07	Nov07	Feb08	May08	Sep08	Dec08	Mar09	Jun09
EBIT	Get a 7-Day Free Trial						-0.01	-	-0.39	-0.73	0.29

Competitive Comparison of Changming Industrial Management Group Holding's EBIT

For the Other Industrial Metals & Mining subindustry, Changming Industrial Management Group Holding'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.

Changming Industrial Management Group Holding's EV-to-EBIT Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Changming Industrial Management Group Holding's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Changming Industrial Management Group Holding's EV-to-EBIT falls into.

Changming Industrial Management Group Holding 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 Jun. 2009 adds up the quarterly data reported by the company within the most recent 12 months, which was $-0.83 Mil.

Changming Industrial Management Group Holding (OTCPK:CMIM) EBIT Explanation

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

Changming Industrial Management Group Holding's annualized ROC % for the quarter that ended in Jun. 2009 is calculated as:

	ROC % (Q: Jun. 2009 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2009 )	+	Invested Capital (Q: Jun. 2009 ))	/ count )
=	-0.384 * ( 1 - 0% )	/	( (2.37	+	2.507)	/ 2 )
=	-0.384	/	2.4385
=	-15.75 %

where

	Invested Capital		(Q: Mar. 2009 )
=	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	))
=	1.068	-	4.495	-	( 0.04	-	max(0, 6.002	-	0.205	+	0.04	))
=	2.37

	Invested Capital		(Q: Jun. 2009 )
=	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	))
=	1.478	-	4.538	-	( 0.027	-	max(0, 6.041	-	0.474	+	0.027	))
=	2.507

Note: The Operating Income data used here is four times the quarterly (Jun. 2009) data.

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

Changming Industrial Management Group Holding's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2009 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2009 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2009		Q: Jun. 2009
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1.156	/	( ( (0.707 + max(-5.837, 0))	+	(0 + max(-5.594, 0)) )	/	2 )
=	1.156	/	( ( 0.707	+	0 )	/	2 )
=	1.156	/	0.3535
=	327.02 %

where Working Capital is:

	Working Capital		(Q: Mar. 2009 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.163	+	0	+	0.002)	-	(4.495	+	0	+	1.507)
=	-5.837

	Working Capital		(Q: Jun. 2009 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.436	+	0	+	0.011)	-	(4.538	+	0	+	1.503)
=	-5.594

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2009) EBIT data.

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

Changming Industrial Management Group Holding's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Jun. 2009 )
	=	-0.83	/	0.001
	=	-83,000.00 %

Changming Industrial Management Group Holding EBIT Related Terms

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Changming Industrial Management Group Holding Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Changming Industrial Management Group Holding Inc (OTCPK:CMIM) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

Room 904, Tung Wai Commercial Building, Wan Chai, Hong Kong, HKG

Website

http://www.sxcmky.com

Changming Industrial Management Group Holding Inc is engaged in the processing and sales of mineral products as well as vanadium mining. Its product series include Product Series Vanadium ore, crystal, pentoxide, alloy, iron, and titanium alloy.

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