Dixons Retail (LSE:DXNS) EBIT : £173 Mil (TTM As of Apr. 2014)

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What is Dixons Retail EBIT?

Dixons Retail's earnings before interest and taxes (EBIT) for the six months ended in Apr. 2014 was £130 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Apr. 2014 was £173 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Dixons Retail's annualized ROC % for the quarter that ended in Apr. 2014 was 12.57%. Dixons Retail's annualized ROC (Joel Greenblatt) % for the quarter that ended in Apr. 2014 was 74.61%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Dixons Retail's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Apr. 2014 was 9.05%.

Dixons Retail EBIT Historical Data

The historical data trend for Dixons Retail'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.

Dixons Retail EBIT Chart

Dixons Retail Annual Data

Trend

Apr05

Apr06

Apr07

May08

Apr09

Apr10

Apr11

Apr12

Apr13

Apr14

EBIT

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160.30

-170.00

-67.70

129.20

173.10

Dixons Retail Semi-Annual Data
	Oct07	Oct08	Apr09	Oct09	Apr10	Oct10	Apr11	Oct11	Apr12	Oct12	Apr13	Oct13	Apr14
EBIT	Get a 7-Day Free Trial								-93.10	24.40	104.80	43.00	130.10

Competitive Comparison of Dixons Retail's EBIT

For the Specialty Retail subindustry, Dixons Retail'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.

Dixons Retail's EV-to-EBIT Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Dixons Retail's EV-to-EBIT distribution charts can be found below:

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

Dixons Retail 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 Apr. 2014 adds up the semi-annually data reported by the company within the most recent 12 months, which was £173 Mil.

Dixons Retail (LSE:DXNS) EBIT Explanation

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

Dixons Retail's annualized ROC % for the quarter that ended in Apr. 2014 is calculated as:

	ROC % (Q: Apr. 2014 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Oct. 2013 )	+	Invested Capital (Q: Apr. 2014 ))	/ count )
=	279.8 * ( 1 - 30.76% )	/	( (1530.6	+	1551.2)	/ 2 )
=	193.73352	/	1540.9
=	12.57 %

where

	Invested Capital		(Q: Oct. 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	))
=	3073.2	-	1712.2	-	( 383.5	-	max(0, 2020.8	-	1851.2	+	383.5	))
=	1530.6

	Invested Capital		(Q: Apr. 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	))
=	2515.1	-	1064	-	( 408.7	-	max(0, 1491.1	-	1391	+	408.7	))
=	1551.2

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

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

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

	ROC (Joel Greenblatt) %		(Q: Apr. 2014 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Oct. 2013		Q: Apr. 2014
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	260.2	/	( ( (367 + max(-551.1, 0))	+	(330.5 + max(-506.8, 0)) )	/	2 )
=	260.2	/	( ( 367	+	330.5 )	/	2 )
=	260.2	/	348.75
=	74.61 %

where Working Capital is:

	Working Capital		(Q: Oct. 2013 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(304.5	+	965.3	+	197.9)	-	(1712.2	+	0	+	306.6)
=	-551.1

	Working Capital		(Q: Apr. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(149.1	+	684.4	+	148.8)	-	(1064	+	0	+	425.1)
=	-506.8

When net working capital is negative, 0 is used.

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

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Apr. 2014 )
	=	173.1	/	1913.267
	=	9.05 %

Dixons Retail EBIT Related Terms

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Dixons Retail (LSE:DXNS) Business Description

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GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Dixons Retail PLC (LSE:DXNS) » Definitions » EBIT

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Address

Website

http://www.dixonsretail.com

Dixons Retail PLC is an electrical retailer and service company which sell consumer electronics, personal computers, domestic appliances, photographic equipment, communication products and related services. The Group's reportable segments are; UK & Ireland comprises of electrical and computing retail chains as well as business to business activities. The division is engaged in multi-channel retail sales, associated peripherals and services and related financial and after sales services and also in business to business sales of computer hardware and software; Nordics operates in Norway, Sweden, Finland, Denmark, Iceland, Greenland and the Faroe Islands. The division engages in multi-channel retail sales and provided related product support services to its customers; Other International comprises operations in Italy, Greece, the Czech Republic, Slovakia, Turkey and the business to be closed in Spain which is excluded from underlying results. The Other International division engages in retail sales and provides related product support services to its customers in all of its markets; and Pure play e-commerce comprises pure play online retailers and operates in all of the countries in which the other divisions operate and across Europe.

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