Invensys (FRA:SBPD) EBIT : €94 Mil (TTM As of Sep. 2013)

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What is Invensys EBIT?

Invensys's earnings before interest and taxes (EBIT) for the six months ended in Sep. 2013 was €95 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2013 was €94 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Invensys's annualized ROC % for the quarter that ended in Sep. 2013 was 11.34%. Invensys's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2013 was 30.07%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Invensys's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2013 was 2.35%.

Invensys EBIT Historical Data

The historical data trend for Invensys'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.

Invensys EBIT Chart

Invensys Annual Data

Trend

Mar04

Mar05

Mar06

Mar07

Mar08

Mar09

Mar10

Mar11

Mar12

Mar13

EBIT

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193.13

247.52

277.60

71.87

50.07

Invensys Semi-Annual Data
	Mar03	Sep04	Mar05	Sep05	Mar06	Sep06	Mar07	Sep07	Mar08	Sep08	Mar09	Sep09	Mar10	Sep10	Mar11	Sep11	Mar12	Sep12	Mar13	Sep13
EBIT	Get a 7-Day Free Trial															89.44	-21.56	55.07	-1.16	94.98

Competitive Comparison of Invensys's EBIT

For the Specialty Industrial Machinery subindustry, Invensys'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.

Invensys's EV-to-EBIT Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Invensys's EV-to-EBIT distribution charts can be found below:

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

Invensys 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 semi-annually data reported by the company within the most recent 12 months, which was €94 Mil.

Invensys (FRA:SBPD) EBIT Explanation

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

Invensys'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: Mar. 2013 )	+	Invested Capital (Q: Sep. 2013 ))	/ count )
=	189.968 * ( 1 - 7.5% )	/	( (1851.403	+	1247.854)	/ 2 )
=	175.7204	/	1549.6285
=	11.34 %

where

	Invested Capital		(Q: Mar. 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	))
=	2588.471	-	448.296	-	( 288.772	-	max(0, 760.356	-	1781.538	+	288.772	))
=	1851.403

	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	))
=	2395.975	-	561.594	-	( 586.527	-	max(0, 702.883	-	1380.832	+	586.527	))
=	1247.854

Note: The Operating Income data used here is two times the semi-annual (Sep. 2013) data.

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

Invensys'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: Mar. 2013		Q: Sep. 2013
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	189.968	/	( ( (225.894 + max(733.574, 0))	+	(211.34 + max(92.609, 0)) )	/	2 )
=	189.968	/	( ( 959.468	+	303.949 )	/	2 )
=	189.968	/	631.7085
=	30.07 %

where Working Capital is:

	Working Capital		(Q: Mar. 2013 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(338.842	+	129.249	+	1024.675)	-	(448.296	+	0	+	310.896)
=	733.574

	Working Capital		(Q: Sep. 2013 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(432.178	+	131.79	+	230.337)	-	(561.594	+	0	+	140.102)
=	92.609

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Sep. 2013) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2013 )
	=	93.82	/	3992.455
	=	2.35 %

Invensys EBIT Related Terms

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Invensys (FRA:SBPD) Business Description

Industry

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Address

Website

http://www.invensys.com

Invensys PLC is a technology company that works in partnership with industrial and commercial customers to design and supply advanced technologies that optimise operational performance and proï¬tability. The Company is grouped into four new business segments - Software, Industrial Automation, Energy Controls and Appliance. The Company's divisions include; Invensys Operations Management which is a technology, software and consulting business that creates and applies technologies to enable the safe and efï¬cient operation of industrial and commercial operations such as oil reï¬neries, fossil fuel and nuclear power plants, petrochemical works and other manufacturing sites. Invensys Controls designs, engineers and manufactures products, components, systems and services used in appliances, heating, air conditioning/cooling and refrigeration products across a range of industries in residential and commercial markets. The Software segment consists of the software businesses previously within Invensys Operations Management and includes Wonderware, SimSciTM and Avantis brands. Industrial Automation segment consists of the systems businesses of our Foxboro distributed control systems (DCS) and Triconex safety systems with the addition of the Foxboro measurement and instrumentation products previously within the equipment business of Invensys Operations Management. Energy Controls segment consists of the Eurotherm and IMServ businesses previously included within the equipment business of Invensys Operations Management, together with the residential heating and commercial businesses that were formerly part of Invensys Controls. Appliance segment consists of the Appliance controls line of business previously within Invensys Controls, together with the appliance replacement parts business formerly within Wholesale, also part of the former Invensys Controls.

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