EMC (FRA:EMP) EBIT : €2,906 Mil (TTM As of Jun. 2016)

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What is EMC EBIT?

EMC's earnings before interest and taxes (EBIT) for the three months ended in Jun. 2016 was €796 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2016 was €2,906 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. EMC's annualized ROC % for the quarter that ended in Jun. 2016 was 6.83%. EMC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2016 was 94.54%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. EMC's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2016 was 5.79%.

EMC EBIT Historical Data

The historical data trend for EMC'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.

EMC EBIT Chart

EMC Annual Data

Trend

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

EBIT

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2,598.44

2,958.85

2,935.33

3,170.20

2,796.23

EMC Quarterly Data
	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16
EBIT	Get a 7-Day Free Trial															650.43	656.67	1,070.39	383.45	795.66

Competitive Comparison of EMC's EBIT

For the Computer Hardware subindustry, EMC'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.

EMC's EV-to-EBIT Distribution in the Hardware Industry

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

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

EMC 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. 2016 adds up the quarterly data reported by the company within the most recent 12 months, which was €2,906 Mil.

EMC (FRA:EMP) EBIT Explanation

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

EMC's annualized ROC % for the quarter that ended in Jun. 2016 is calculated as:

	ROC % (Q: Jun. 2016 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2016 )	+	Invested Capital (Q: Jun. 2016 ))	/ count )
=	3139.92 * ( 1 - 26.06% )	/	( (34653.82	+	33365.21)	/ 2 )
=	2321.656848	/	34009.515
=	6.83 %

where

	Invested Capital		(Q: Mar. 2016 )
=	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	))
=	41041.294	-	3411.502	-	( 8801.298	-	max(0, 10134.828	-	13110.8	+	8801.298	))
=	34653.82

	Invested Capital		(Q: Jun. 2016 )
=	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	))
=	41603.05	-	3657.01	-	( 10467.29	-	max(0, 10148.67	-	14729.5	+	10467.29	))
=	33365.21

Note: The Operating Income data used here is four times the quarterly (Jun. 2016) data.

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

EMC's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2016 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2016 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2016		Q: Jun. 2016
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	3182.64	/	( ( (3417.788 + max(-4994.676, 0))	+	(3315.25 + max(-5174.46, 0)) )	/	2 )
=	3182.64	/	( ( 3417.788	+	3315.25 )	/	2 )
=	3182.64	/	3366.519
=	94.54 %

where Working Capital is:

	Working Capital		(Q: Mar. 2016 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2641.018	+	1107.234	+	561.25)	-	(3411.502	+	5816.346	+	76.33)
=	-4994.676

	Working Capital		(Q: Jun. 2016 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2577.44	+	1106.27	+	578.5)	-	(3657.01	+	5714.69	+	64.969999999999)
=	-5174.46

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2016) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Jun. 2016 )
	=	2906.161	/	50151.905
	=	5.79 %

EMC EBIT Related Terms

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EMC (FRA:EMP) Business Description

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Address

Website

http://www.emc.com

EMC Corp is a Massachusetts corporation, incorporated in 1979. The Company together with its subsidiaries supports the businesses and service providers to transform information technology (IT) operations to an as a service model (ITaaS). The Company operates in three segments: EMC Information Infrastructure, Pivotal and VMware Virtual Infrastructure. The Company's information infrastructure provides a foundation for organizations to store, manage, protect, analyze and secure ever-increasing quantities of information, while at the same time improving business agility, lowering cost and increasing competitive advantage. VMware Virtual Infrastructure provides virtualization infrastructure solutions. Pivotal provides application and data infrastructure software, agile development services and data science consulting. The Company offers a comprehensive portfolio of enterprise storage systems and software - including high-end EMC VMAX and mid-tier EMC VNX unified storage and a portfolio of backup products that support enterprise application workloads. The Company's two additional storage families, EMC Isilon and EMC Atmos, are specifically designed to handle vast quantities of unstructured data. EMC supports a broad range of customers, including service providers, around the world - in every industry, in both public and private sectors, and of sizes ranging from the Fortune 500 to small business and individual consumers. The Company markets its products through direct sales and through multiple distribution channels. It has a direct sales presence throughout North America, Latin America, Europe, the Middle East, South Africa and the Asia Pacific region. The Company also has agreements in place with many partners, including value-added resellers and distributors, cloud service providers, systems integrators, outsourcers, Independent Software Vendors ("ISVs"), and Original Equipment Manufacturers ("OEMs"). The Company competes with many companies in the markets it serve, including companies that offer IT products and services and others that offer specific information storage, protection, security, management and intelligence, data analytics or virtualization products or services.

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