Family Dollar Stores (FRA:FAY) EBIT : €330 Mil (TTM As of May. 2015)

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What is Family Dollar Stores EBIT?

Family Dollar Stores's earnings before interest and taxes (EBIT) for the three months ended in May. 2015 was €121 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in May. 2015 was €330 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Family Dollar Stores's annualized ROC % for the quarter that ended in May. 2015 was 11.57%. Family Dollar Stores's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2015 was 20.84%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Family Dollar Stores's Earnings Yield (Joel Greenblatt) % for the quarter that ended in May. 2015 was 3.99%.

Family Dollar Stores EBIT Historical Data

The historical data trend for Family Dollar Stores'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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Family Dollar Stores EBIT Chart

Family Dollar Stores Annual Data

Trend

Aug05

Aug06

Aug07

Aug08

Aug09

Aug10

Aug11

Aug12

Aug13

Aug14

EBIT

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447.33

446.44

555.36

538.16

340.05

Family Dollar Stores Quarterly Data
	Aug10	Nov10	Feb11	May11	Aug11	Nov11	Feb12	May12	Aug12	Nov12	Feb13	May13	Aug13	Nov13	Feb14	May14	Aug14	Nov14	Feb15	May15
EBIT	Get a 7-Day Free Trial															94.11	35.98	63.08	110.65	120.64

Competitive Comparison of Family Dollar Stores's EBIT

For the Discount Stores subindustry, Family Dollar Stores'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.

Family Dollar Stores's EV-to-EBIT Distribution in the Retail - Defensive Industry

For the Retail - Defensive industry and Consumer Defensive sector, Family Dollar Stores's EV-to-EBIT distribution charts can be found below:

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

Family Dollar Stores 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 May. 2015 adds up the quarterly data reported by the company within the most recent 12 months, which was €330 Mil.

Family Dollar Stores (FRA:FAY) EBIT Explanation

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

Family Dollar Stores's annualized ROC % for the quarter that ended in May. 2015 is calculated as:

	ROC % (Q: May. 2015 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Feb. 2015 )	+	Invested Capital (Q: May. 2015 ))	/ count )
=	452.1 * ( 1 - 37.55% )	/	( (2434.384	+	2447.359)	/ 2 )
=	282.33645	/	2440.8715
=	11.57 %

where

	Invested Capital		(Q: Feb. 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	))
=	3528.399	-	942.943	-	( 151.072	-	max(0, 1201.252	-	1977.416	+	151.072	))
=	2434.384

	Invested Capital		(Q: May. 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	))
=	3520.14	-	875.885	-	( 196.896	-	max(0, 1041.639	-	1943.256	+	196.896	))
=	2447.359

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

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

Family Dollar Stores's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2015 is calculated as:

	ROC (Joel Greenblatt) %		(Q: May. 2015 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Feb. 2015		Q: May. 2015
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	482.576	/	( ( (1486.951 + max(825.269, 0))	+	(1514.106 + max(805.454, 0)) )	/	2 )
=	482.576	/	( ( 2312.22	+	2319.56 )	/	2 )
=	482.576	/	2315.89
=	20.84 %

where Working Capital is:

	Working Capital		(Q: Feb. 2015 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	1514.269	+	253.943)	-	(942.943	+	0	+	0)
=	825.269

	Working Capital		(Q: May. 2015 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	1460.573	+	220.766)	-	(875.885	+	0	+	0)
=	805.454

When net working capital is negative, 0 is used.

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

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

Family Dollar Stores's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: May. 2015 )
	=	330.353	/	8281.493
	=	3.99 %

Family Dollar Stores EBIT Related Terms

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Family Dollar Stores (FRA:FAY) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Retail - Defensive » Family Dollar Stores Inc (FRA:FAY) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.familydollar.com

Family Dollar Stores Inc was incorporated in November 1959. The Company provides consumers with a selection of competitively priced merchandise in convenient neighbourhood stores. Its merchandise assortment includes Consumables, Home Products, Apparel and Accessories, and Seasonal and Electronics. It classifies the combination of Home Products, Apparel and Accessories, and Seasonal and Electronics as Discretionary. It operates general merchandise retail discount stores in 46 states, serving the basic needs of customers primarily in the low- and middle-income brackets. The stores are supported by 11 distribution centers and one Store Support Center. It competes for sales and store locations in varying degrees with international, national, regional and local retailing establishments, other discount stores, department stores, variety stores, dollar stores, discount clothing stores, drug stores, grocery stores, convenience stores, outlet stores, warehouse stores and other stores. The Company's trademark includes Family Dollar and Family Dollar Stores. Its business is subject to federal, state, local, and international laws, rules, and regulations, such as state and local wage and hour laws, anti-corruption laws, import and export laws, unclaimed property laws, and many others.

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