Blackrock Hedge Selector (LSE:BHUE) EBIT : £-0.27 Mil (TTM As of Jun. 2014)

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What is Blackrock Hedge Selector EBIT?

Blackrock Hedge Selector's earnings before interest and taxes (EBIT) for the six months ended in Jun. 2014 was £-0.14 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2014 was £-0.27 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Blackrock Hedge Selector's annualized ROC % for the quarter that ended in Jun. 2014 was -0.78%. Blackrock Hedge Selector's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2014 was %.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Blackrock Hedge Selector's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2014 was -0.97%.

Blackrock Hedge Selector EBIT Historical Data

The historical data trend for Blackrock Hedge Selector'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.

Blackrock Hedge Selector EBIT Chart

Blackrock Hedge Selector Annual Data

Trend

Dec10

Dec11

Dec12

Dec13

EBIT

-0.31

-0.35

-0.33

Blackrock Hedge Selector Semi-Annual Data
	Dec11	Jun12	Dec12	Jun13	Dec13	Jun14
EBIT	Get a 7-Day Free Trial			-0.14	-0.21	-0.20	-0.13	-0.14

Competitive Comparison of Blackrock Hedge Selector's EBIT

For the subindustry, Blackrock Hedge Selector'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.

Blackrock Hedge Selector's EV-to-EBIT Distribution in the Industry

For the industry and sector, Blackrock Hedge Selector's EV-to-EBIT distribution charts can be found below:

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

Blackrock Hedge Selector 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. 2014 adds up the semi-annually data reported by the company within the most recent 12 months, which was £-0.27 Mil.

Blackrock Hedge Selector (LSE:BHUE) EBIT Explanation

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

Blackrock Hedge Selector's annualized ROC % for the quarter that ended in Jun. 2014 is calculated as:

	ROC % (Q: Jun. 2014 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2013 )	+	Invested Capital (Q: Jun. 2014 ))	/ count )
=	-0.288 * ( 1 - 0% )	/	( (40.702	+	33.52)	/ 2 )
=	-0.288	/	37.111
=	-0.78 %

where

	Invested Capital		(Q: Dec. 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	))
=	40.758	-	0.165	-	( 0.056	-	max(0, 0.165	-	0.056	+	0.056	))
=	40.702

	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	))
=	33.936	-	0.308	-	( 0.416	-	max(0, 0.308	-	0.416	+	0.416	))
=	33.52

Note: The Operating Income data used here is two times the semi-annual (Jun. 2014) data.

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

Blackrock Hedge Selector's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2014 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2014 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2013		Q: Jun. 2014
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-0.288	/	( ( (0 + max(-0.165, 0))	+	(0 + max(-0.308, 0)) )	/	2 )
=	-0.288	/	( ( 0	+	0 )	/	2 )
=	-0.288	/	0
=	%

where Working Capital is:

	Working Capital		(Q: Dec. 2013 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0)	-	(0.165	+	0	+	0)
=	-0.165

	Working Capital		(Q: Jun. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0)	-	(0.308	+	0	+	0)
=	-0.308

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2014) EBIT data.

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

Blackrock Hedge Selector's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Jun. 2014 )
	=	-0.272	/	28.001
	=	-0.97 %

Blackrock Hedge Selector EBIT Related Terms

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Blackrock Hedge Selector (LSE:BHUE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Blackrock Hedge Selector Ltd (LSE:BHUE) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.blackrock.co.uk

BlackRock Hedge Selector Ltd is a closed-ended investment company incorporated in Jersey on 17 August 2009. This fund was launched on 28 September 2009, initially offering two share classes; the UK Emerging Companies Shares, which invest directly into the BlackRock UK Emerging Companies Hedge Fund and the Cash Fund Shares, which invest directly into the BlackRock Institutional Sterling Liquidity Fund. The investment objective of the Hedge Fund is to seek to maximise total returns by investing in mid and small cap UK equities, whilst limiting correlation with the UK equity market. The investment objective of the Liquidity Fund is to maximise current income consistent with preservation of principal and liquidity by the maintenance of a portfolio of high quality short-term "money market" instruments.

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