Gerova Financial Group (Gerova Financial Group) EBIT : $-1.89 Mil (TTM As of Jun. 2009)

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What is Gerova Financial Group EBIT?

Gerova Financial Group's earnings before interest and taxes (EBIT) for the three months ended in Jun. 2009 was $-0.87 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2009 was $-1.89 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Gerova Financial Group's annualized ROC % for the quarter that ended in Jun. 2009 was -2.98%. Gerova Financial Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2009 was %.

EBIT is also linked to Joel Greenblatt's definition of earnings yield.

Gerova Financial Group EBIT Historical Data

The historical data trend for Gerova Financial Group'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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Gerova Financial Group EBIT Chart

Gerova Financial Group Annual Data

Trend

Dec07

Dec08

Dec09

EBIT

-0.01

-0.92

0.69

Gerova Financial Group Quarterly Data
	Sep07	Dec07	Mar08	Jun08	Sep08	Dec08	Mar09	Jun09	Dec09
EBIT	Get a 7-Day Free Trial				-1.20	0.78	-0.60	-0.87	-

Competitive Comparison of Gerova Financial Group's EBIT

For the Insurance - Reinsurance subindustry, Gerova Financial Group'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.

Gerova Financial Group's EV-to-EBIT Distribution in the Insurance Industry

For the Insurance industry and Financial Services sector, Gerova Financial Group's EV-to-EBIT distribution charts can be found below:

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

Gerova Financial Group 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. 2009 adds up the quarterly data reported by the company within the most recent 12 months, which was $-1.89 Mil.

Gerova Financial Group (OTCPK:GVFG) EBIT Explanation

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

Gerova Financial Group's annualized ROC % for the quarter that ended in Jun. 2009 is calculated as:

	ROC % (Q: Jun. 2009 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2009 )	+	Invested Capital (Q: Jun. 2009 ))	/ count )
=	-3.48 * ( 1 - % )	/	( (116.537	+	116.678)	/ 2 )
=	-3.48	/	116.6075
=	-2.98 %

where

	Invested Capital		(Q: Mar. 2009 )
=	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	))
=	115.983	-	0.674	-	( 0.169	-	max(0, 1.688	-	0.46	+	0.169	))
=	116.537

	Invested Capital		(Q: Jun. 2009 )
=	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	))
=	115.646	-	0.975	-	( 0.031	-	max(0, 2.287	-	0.28	+	0.031	))
=	116.678

Note: The Operating Income data used here is four times the quarterly (Jun. 2009) data.

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

Gerova Financial Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2009 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2009 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2009		Q: Jun. 2009
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-3.48	/	( ( (0 + max(-0.432, 0))	+	(0 + max(-0.734, 0)) )	/	2 )
=	-3.48	/	( ( 0	+	0 )	/	2 )
=	-3.48	/	0
=	%

where Working Capital is:

	Working Capital		(Q: Mar. 2009 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.242)	-	(0.674	+	0	+	-2.2204460492503E-16)
=	-0.432

	Working Capital		(Q: Jun. 2009 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.241)	-	(0.975	+	0	+	0)
=	-0.734

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2009) EBIT data.

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

Gerova Financial Group's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Jun. 2009 )
	=	-1.885	/	0.000
	=	%

Gerova Financial Group EBIT Related Terms

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Gerova Financial Group (Gerova Financial Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Insurance » Gerova Financial Group Ltd (OTCPK:GVFG) » Definitions » EBIT

Comparable Companies

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Traded in Other Exchanges

N/A

Address

Cumberland House, 5th Floor, 1 Victoria Street, Hamilton, BMU, HM 11

Website

Gerova Financial Group Ltd is an international reinsurance company focused on the life and annuity reinsurance markets, in addition to a niche property and causality business.

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