Conversant (FRA:VCK) EBIT : €104.9 Mil (TTM As of Sep. 2014)

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What is Conversant EBIT?

Conversant's earnings before interest and taxes (EBIT) for the three months ended in Sep. 2014 was €16.0 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2014 was €104.9 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Conversant's annualized ROC % for the quarter that ended in Sep. 2014 was 7.18%. Conversant's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2014 was 149.62%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Conversant's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2014 was 5.89%.

Conversant EBIT Historical Data

The historical data trend for Conversant'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.

Conversant EBIT Chart

Conversant Annual Data

Trend

Dec04

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

EBIT

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56.62

66.97

89.80

102.06

122.48

Conversant Quarterly Data
	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14
EBIT	Get a 7-Day Free Trial															27.45	44.04	24.44	20.40	16.01

Competitive Comparison of Conversant's EBIT

For the Internet Content & Information subindustry, Conversant'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.

Conversant's EV-to-EBIT Distribution in the Interactive Media Industry

For the Interactive Media industry and Communication Services sector, Conversant's EV-to-EBIT distribution charts can be found below:

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

Conversant 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. 2014 adds up the quarterly data reported by the company within the most recent 12 months, which was €104.9 Mil.

Conversant (FRA:VCK) EBIT Explanation

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

Conversant's annualized ROC % for the quarter that ended in Sep. 2014 is calculated as:

	ROC % (Q: Sep. 2014 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2014 )	+	Invested Capital (Q: Sep. 2014 ))	/ count )
=	64.04 * ( 1 - 54.61% )	/	( (392.679	+	417.292)	/ 2 )
=	29.067756	/	404.9855
=	7.18 %

where

	Invested Capital		(Q: Jun. 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	))
=	541.836	-	87.647	-	( 61.51	-	max(0, 89.545	-	188.661	+	61.51	))
=	392.679

	Invested Capital		(Q: Sep. 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	))
=	552.368	-	83.82	-	( 51.256	-	max(0, 89.012	-	186.392	+	51.256	))
=	417.292

Note: The Operating Income data used here is four times the quarterly (Sep. 2014) data.

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

Conversant's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2014 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2014 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2014		Q: Sep. 2014
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	64.04	/	( ( (21.306 + max(17.25, 0))	+	(21.279 + max(25.771, 0)) )	/	2 )
=	64.04	/	( ( 38.556	+	47.05 )	/	2 )
=	64.04	/	42.803
=	149.62 %

where Working Capital is:

	Working Capital		(Q: Jun. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(93.036	+	0	+	13.759)	-	(87.647	+	0	+	1.898)
=	17.25

	Working Capital		(Q: Sep. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(103.082	+	0	+	11.701)	-	(83.82	+	0	+	5.192)
=	25.771

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2014) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2014 )
	=	104.884	/	1780.013
	=	5.89 %

Conversant EBIT Related Terms

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Conversant (FRA:VCK) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Interactive Media » Conversant Inc (FRA:VCK) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

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Address

Website

http://www.conversantmedia.com

Conversant Inc, formerly known as Valueclick Inc. The Company and its subsidiaries offers digital marketing services across its Affiliate Marketing and Media segments. In affiliate marketing, a website or mobile publisher joins an advertiser's affiliate marketing program and agrees to distribute the advertiser's offers in exchange for commissions on sales or leads generated. The publisher places the advertiser's display advertisements or text links on their website or mobile website, in email campaigns, or in search listings, and receives a commission from the advertiser only when a visitor takes an agreed-upon action, such as making a purchase on the advertiser's website. Advertisers upload their offers onto its system, making them available for placement by affiliates. The Companys affiliate marketing services are structured to deliver an exceptional level of experience, expertise and strategic support to advertisers. Dedicated teams are focused on technical support, network quality and account services to work with advertisers as strategic partners in managing their affiliate programs. The Company offers its clients the option to choose the level of service that fits their needs, ranging from full program management to network access. The Companys media solutions enable marketers to deliver personalized communications and are designed for flexibility based on each brands specific needs. Its media solutions also include a suite of ad serving and analytics tools designed to improve marketing effectiveness through precise ad execution and data collection: the Conversant Tag Manager, which streamlines the collection of website data; Conversant Data Collection & Management, which unites marketing data from across digital channels; and the ConversantTM Ad Server, which executes, reports and optimizes ad campaigns across digital channels. The Company markets its products and services primarily through direct marketing, print advertising and online advertising throughout the year.

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