Compuware (FRA:CWR) EBIT : €18.7 Mil (TTM As of Sep. 2014)

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What is Compuware EBIT?

Compuware's earnings before interest and taxes (EBIT) for the three months ended in Sep. 2014 was €11.3 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2014 was €18.7 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Compuware's annualized ROC % for the quarter that ended in Sep. 2014 was 2.34%. Compuware's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2014 was 21.29%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Compuware's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2014 was 1.03%.

Compuware EBIT Historical Data

The historical data trend for Compuware'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.

Compuware EBIT Chart

Compuware Annual Data

Trend

Mar05

Mar06

Mar07

Mar08

Mar09

Mar10

Mar11

Mar12

Mar13

Mar14

EBIT

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135.17

84.49

99.50

33.27

34.60

Compuware Quarterly Data
	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14
EBIT	Get a 7-Day Free Trial															8.08	24.20	-14.39	-2.42	11.32

Competitive Comparison of Compuware's EBIT

For the Software - Application subindustry, Compuware'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.

Compuware's EV-to-EBIT Distribution in the Software Industry

For the Software industry and Technology sector, Compuware's EV-to-EBIT distribution charts can be found below:

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

Compuware 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. 2014 adds up the quarterly data reported by the company within the most recent 12 months, which was €18.7 Mil.

Compuware (FRA:CWR) EBIT Explanation

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

Compuware's annualized ROC % for the quarter that ended in Sep. 2014 is calculated as:

	ROC % (Q: Sep. 2014 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2014 )	+	Invested Capital (Q: Sep. 2014 ))	/ count )
=	45.28 * ( 1 - 38.64% )	/	( (1168.995	+	1206.954)	/ 2 )
=	27.783808	/	1187.9745
=	2.34 %

where

	Invested Capital		(Q: Jun. 2014 )
=	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	))
=	1373.441	-	77.891	-	( 202.778	-	max(0, 338.938	-	465.493	+	202.778	))
=	1168.995

	Invested Capital		(Q: Sep. 2014 )
=	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	))
=	1435.5	-	87.995	-	( 198.09	-	max(0, 357.339	-	497.89	+	198.09	))
=	1206.954

Note: The Operating Income data used here is four times the quarterly (Sep. 2014) data.

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

Compuware's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2014 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2014 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2014		Q: Sep. 2014
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	45.28	/	( ( (208.367 + max(-79.549, 0))	+	(217.084 + max(-60.885, 0)) )	/	2 )
=	45.28	/	( ( 208.367	+	217.084 )	/	2 )
=	45.28	/	212.7255
=	21.29 %

where Working Capital is:

	Working Capital		(Q: Jun. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(211.991	+	0	+	47.398)	-	(77.891	+	261.047	+	-5.6843418860808E-14)
=	-79.549

	Working Capital		(Q: Sep. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(243.621	+	0	+	52.833)	-	(87.995	+	269.343	+	0.00099999999997635)
=	-60.885

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2014) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2014 )
	=	18.712	/	1822.702
	=	1.03 %

Compuware EBIT Related Terms

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Compuware (FRA:CWR) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

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Address

Website

http://www.compuware.com

Compuware Corp a Michigan corporation was incorporated in 1973. The Company delivers services and software that enable its customers' important technologies to perform at their peak. It delivers the solutions through software that is installed and run on its customers' owned hardware and applications and through a Software as a Service ('SaaS') model accessed via its hosted networks. It has six business segments: Application Performance Managemen (APM), Mainframe, Changepoint, Uniface, Professional Services and Covisint Application Services ('Covisint'). Its Compuware Application Performance Management ('Compuware APM') consists of its solutions for optimizing the performance of web, non-web, mobile, streaming and cloud applications. Its Mainframe Software Products improve the productivity of development, maintenance and support teams in application analysis, testing, defect detection and remediation, fault management, file and data management, data compliance and application performance management in the IBM z/OS environment. Its Changepoint software combines professional services automation with project portfolio management capabilities to give customers complete visibility into projects, investments and resources for informed business planning and financial control. Its Uniface solution is Compuware's Rapid Application Development environment for building, renewing and integrating some of the complex enterprise applications. Its Covisint application services provide a cloud engagement platform for enabling organizations to securely connect, engage and collaborate with large, distributed communities of customers, business partners and suppliers. Its products and services are used by the IT departments and lines of business of a of commercial and government organizations. Its competitors include BMC Software Inc., CA, Inc., International Business Machines ('IBM'), Hewlett-Packard Company, Keynote Systems, Inc., Accenture, Computer Sciences Corporation, HP Enterprise Services, Analysts International Corporation and Infosys Technologies.

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