China Power Equipment (China Power Equipment) EBIT : $6.87 Mil (TTM As of Sep. 2013)

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What is China Power Equipment EBIT?

China Power Equipment's earnings before interest and taxes (EBIT) for the three months ended in Sep. 2013 was $1.97 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2013 was $6.87 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. China Power Equipment's annualized ROC % for the quarter that ended in Sep. 2013 was 41.56%. China Power Equipment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2013 was 54.41%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield.

China Power Equipment EBIT Historical Data

The historical data trend for China Power Equipment'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.

China Power Equipment EBIT Chart

China Power Equipment Annual Data

Trend

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

EBIT

Get a 7-Day Free Trial

1.91

5.00

6.61

7.22

7.76

China Power Equipment Quarterly Data
	Dec08	Mar09	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13
EBIT	Get a 7-Day Free Trial															2.50	1.91	1.30	1.69	1.97

Competitive Comparison of China Power Equipment's EBIT

For the Electronic Components subindustry, China Power Equipment'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.

China Power Equipment's EV-to-EBIT Distribution in the Hardware Industry

For the Hardware industry and Technology sector, China Power Equipment's EV-to-EBIT distribution charts can be found below:

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

China Power Equipment 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 Sep. 2013 adds up the quarterly data reported by the company within the most recent 12 months, which was $6.87 Mil.

China Power Equipment (OTCPK:CPQQ) EBIT Explanation

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

China Power Equipment's annualized ROC % for the quarter that ended in Sep. 2013 is calculated as:

	ROC % (Q: Sep. 2013 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2013 )	+	Invested Capital (Q: Sep. 2013 ))	/ count )
=	7.788 * ( 1 - 17.03% )	/	( (15.868	+	15.231)	/ 2 )
=	6.4617036	/	15.5495
=	41.56 %

where

	Invested Capital		(Q: Jun. 2013 )
=	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	))
=	48.714	-	3.61	-	( 29.236	-	max(0, 3.678	-	39.024	+	29.236	))
=	15.868

	Invested Capital		(Q: Sep. 2013 )
=	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	))
=	51.332	-	4.346	-	( 31.755	-	max(0, 4.414	-	41.93	+	31.755	))
=	15.231

Note: The Operating Income data used here is four times the quarterly (Sep. 2013) data.

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

China Power Equipment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2013 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2013 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2013		Q: Sep. 2013
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	7.868	/	( ( (8.533 + max(6.178, 0))	+	(8.382 + max(5.829, 0)) )	/	2 )
=	7.868	/	( ( 14.711	+	14.211 )	/	2 )
=	7.868	/	14.461
=	54.41 %

where Working Capital is:

	Working Capital		(Q: Jun. 2013 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(6.235	+	0.77	+	2.783)	-	(3.61	+	0	+	0)
=	6.178

	Working Capital		(Q: Sep. 2013 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(6.118	+	0.882	+	3.175)	-	(4.346	+	0	+	0)
=	5.829

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2013) EBIT data.

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

China Power Equipment's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2013 )
	=	6.873	/	0.000
	=	%

China Power Equipment EBIT Related Terms

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China Power Equipment (China Power Equipment) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Hardware » China Power Equipment Inc (OTCPK:CPQQ) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

Yongle Industry Zone, Jingyang Industry Concentration Area, Xi’an, Shaanxi, CHN, 713702

Website

http://www.chinapower-equipment.com

China Power Equipment Inc designs, manufactures, and distributes amorphous alloy transformer cores and amorphous alloy distribution transformers in the Peoples Republic of China. Its devices are used to step down voltage at the final phase of the distribution of electricity to consumers, businesses, and industries. The Company offers its products to electricity generators and suppliers, suppliers of electrical equipment, and other electric power transformers manufacturers.

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