Doverddlery (FRA:D1R) EBIT : €1.92 Mil (TTM As of Mar. 2015)

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What is Doverddlery EBIT?

Doverddlery's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2015 was €-1.10 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2015 was €1.92 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Doverddlery's annualized ROC % for the quarter that ended in Mar. 2015 was -8.16%. Doverddlery's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2015 was -15.49%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Doverddlery's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2015 was 4.72%.

Doverddlery EBIT Historical Data

The historical data trend for Doverddlery'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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Doverddlery EBIT Chart

Doverddlery Annual Data

Trend

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

EBIT

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3.43

3.25

2.85

2.53

2.36

Doverddlery Quarterly Data
	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15
EBIT	Get a 7-Day Free Trial															-0.69	0.46	0.45	2.11	-1.10

Competitive Comparison of Doverddlery's EBIT

For the Specialty Retail subindustry, Doverddlery'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.

Doverddlery's EV-to-EBIT Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Doverddlery's EV-to-EBIT distribution charts can be found below:

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

Doverddlery 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. 2015 adds up the quarterly data reported by the company within the most recent 12 months, which was €1.92 Mil.

Doverddlery (FRA:D1R) EBIT Explanation

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

Doverddlery's annualized ROC % for the quarter that ended in Mar. 2015 is calculated as:

	ROC % (Q: Mar. 2015 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2014 )	+	Invested Capital (Q: Mar. 2015 ))	/ count )
=	-4.404 * ( 1 - 42.46% )	/	( (26.284	+	35.836)	/ 2 )
=	-2.5340616	/	31.06
=	-8.16 %

where

	Invested Capital		(Q: Dec. 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	))
=	35.103	-	8.564	-	( 0.255	-	max(0, 11.078	-	27.393	+	0.255	))
=	26.284

	Invested Capital		(Q: Mar. 2015 )
=	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	))
=	45.237	-	8.983	-	( 0.418	-	max(0, 11.537	-	35.171	+	0.418	))
=	35.836

Note: The Operating Income data used here is four times the quarterly (Mar. 2015) data.

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

Doverddlery's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2015 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2015 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2014		Q: Mar. 2015
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-4.404	/	( ( (5.692 + max(18.574, 0))	+	(6.812 + max(25.77, 0)) )	/	2 )
=	-4.404	/	( ( 24.266	+	32.582 )	/	2 )
=	-4.404	/	28.424
=	-15.49 %

where Working Capital is:

	Working Capital		(Q: Dec. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.333	+	22.919	+	2.886)	-	(8.564	+	0	+	0)
=	18.574

	Working Capital		(Q: Mar. 2015 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.214	+	29.898	+	3.641)	-	(8.983	+	0	+	0)
=	25.77

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2015) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2015 )
	=	1.921	/	40.696
	=	4.72 %

Doverddlery EBIT Related Terms

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Doverddlery (FRA:D1R) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Dover Saddlery Inc (FRA:D1R) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

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Address

Website

http://www.doversaddlery.com

Dover Saddlery, Inc. is a Delaware Corporation. The Company was founded in 1975. It is a specialty retailer and the largest multi-channel marketer of premium, equestrian products in the U.S. The Company sells its products through a multi-channel strategy, including direct and retail. The Company offers a comprehensive selection of products required to own, ride, train and compete with a horse. The Company's equestrian product line includes a broad variety of separate items such as saddles, tack, specialized apparel, footwear, horse clothing, horse health and stable products. The Company has established itself as the largest multi-channel marketer of equestrian tack, specialized apparel, horse care and stable products in the U.S. and plans to continue its multi-channel retail strategy to capitalize on strong brand equity and utilize its customer database. This multi-channel strategy enables it to capture customer data, achieve operational synergies, provide a seamless and convenient shopping experience for its customers, cross market its products and reinforce its brand across channels. As of December 31, 2012, it operated seventeen stores under the Dover Saddlery brand and one store under the Smith Brothers brand. The Company is subject to numerous regulations governing the Internet and e-commerce, retailers generally, the importation, promotion and sale of merchandise, and the operation of retail stores and warehouse facilities.

Doverddlery (FRA:D1R) Headlines

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