Tallgrass Energy (FRA:TGV) EBIT : €-2.37 Mil (TTM As of Dec. 2012)

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What is Tallgrass Energy EBIT?

Tallgrass Energy's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2012 was €-2.37 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2012 was €-2.37 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Tallgrass Energy's annualized ROC % for the quarter that ended in Dec. 2012 was -11.18%. Tallgrass Energy's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2012 was -17.66%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Tallgrass Energy's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2012 was -1,989.08%.

Tallgrass Energy EBIT Historical Data

The historical data trend for Tallgrass Energy'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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Tallgrass Energy EBIT Chart

Tallgrass Energy Annual Data

Trend

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

EBIT

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-0.39

-0.52

-5.90

-1.71

-2.37

Tallgrass Energy Semi-Annual Data
	Dec04	Dec05	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12
EBIT	Get a 7-Day Free Trial				-0.39	-0.52	-5.90	-1.71	-2.37

Competitive Comparison of Tallgrass Energy's EBIT

For the Oil & Gas E&P subindustry, Tallgrass Energy'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.

Tallgrass Energy's EV-to-EBIT Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Tallgrass Energy's EV-to-EBIT distribution charts can be found below:

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

Tallgrass Energy 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. EBIT for the trailing twelve months (TTM) ended in Dec. 2012 was €-2.37 Mil.

Tallgrass Energy (FRA:TGV) EBIT Explanation

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

Tallgrass Energy's annualized ROC % for the quarter that ended in Dec. 2012 is calculated as:

	ROC % (Q: Dec. 2012 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2011 )	+	Invested Capital (Q: Dec. 2012 ))	/ count )
=	-2.317 * ( 1 - 0% )	/	( (5.162	+	36.305)	/ 2 )
=	-2.317	/	20.7335
=	-11.18 %

where

	Invested Capital		(Q: Dec. 2011 )
=	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	))
=	4.717	-	0.706	-	( 0	-	max(0, 1.633	-	0.482	+	0	))
=	5.162

	Invested Capital		(Q: Dec. 2012 )
=	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	))
=	23.976	-	2.092	-	( 0.295	-	max(0, 15.657	-	1.236	+	0.295	))
=	36.305

Note: The Operating Income data used here is one times the annual (Dec. 2012) data.

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

Tallgrass Energy's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2012 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2012 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2011		Q: Dec. 2012
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-2.367	/	( ( (4.236 + max(-0.384, 0))	+	(22.563 + max(-1.682, 0)) )	/	2 )
=	-2.367	/	( ( 4.236	+	22.563 )	/	2 )
=	-2.367	/	13.3995
=	-17.66 %

where Working Capital is:

	Working Capital		(Q: Dec. 2011 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.29	+	0	+	0.068)	-	(0.706	+	0	+	0.036)
=	-0.384

	Working Capital		(Q: Dec. 2012 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.633	+	0	+	0.216)	-	(2.092	+	0	+	0.439)
=	-1.682

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (Dec. 2012) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2012 )
	=	-2.367	/	0.119
	=	-1,989.08 %

Tallgrass Energy EBIT Related Terms

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Tallgrass Energy Business Description

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Website

http://www.tallgrassenergy.ca

Tallgrass Energy Corp was incorporated pursuant to the provisions of the Alberta Business Corporations Act on March 10, 2010. On December 31, 2012, the Company amalgamated with Anglo Canadian Oil Corp. The Company is engaged in the exploration, development and production of petroleum and natural gas in the Western Canadian Basin. The Company receives its revenue from the sale of oil, natural gas and natural gas liquids. Other revenue is derived from emulsion processing, treating, saltwater disposal fees charged to third parties as well as well operating fees and road use fees.

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