Land Securities Group (LSE:LAND) EBIT : £-530.0 Mil (TTM As of Sep. 2023)

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What is Land Securities Group EBIT?

Land Securities Group's earnings before interest and taxes (EBIT) for the six months ended in Sep. 2023 was £-146.0 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2023 was £-530.0 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Land Securities Group's annualized ROC % for the quarter that ended in Sep. 2023 was 4.10%. Land Securities Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was -226.36%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Land Securities Group's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was -6.09%.

Land Securities Group EBIT Historical Data

The historical data trend for Land Securities 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.

* Premium members only.

Land Securities Group EBIT Chart

Land Securities Group Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

EBIT

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-24.00

-741.00

-1,318.00

960.00

-535.00

Land Securities Group Semi-Annual Data
	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
EBIT	Get a 7-Day Free Trial															308.00	652.00	-151.00	-384.00	-146.00

Competitive Comparison of Land Securities Group's EBIT

For the REIT - Diversified subindustry, Land Securities 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.

Land Securities Group's EV-to-EBIT Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Land Securities Group's EV-to-EBIT distribution charts can be found below:

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

Land Securities 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 Sep. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was £-530.0 Mil.

Land Securities Group (LSE:LAND) EBIT Explanation

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

Land Securities Group's annualized ROC % for the quarter that ended in Sep. 2023 is calculated as:

	ROC % (Q: Sep. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2023 )	+	Invested Capital (Q: Sep. 2023 ))	/ count )
=	456 * ( 1 - 0% )	/	( (11026	+	11210)	/ 2 )
=	456	/	11118
=	4.10 %

where

	Invested Capital		(Q: Mar. 2023 )
=	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	))
=	10966	-	53	-	( 42	-	max(0, 645	-	532	+	42	))
=	11026

	Invested Capital		(Q: Sep. 2023 )
=	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	))
=	10905	-	325	-	( 80	-	max(0, 1227	-	597	+	80	))
=	11210

Note: The Operating Income data used here is two times the semi-annual (Sep. 2023) data.

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

Land Securities Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2023		Q: Sep. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-292	/	( ( (9 + max(80, 0))	+	(0 + max(169, 0)) )	/	2 )
=	-292	/	( ( 89	+	169 )	/	2 )
=	-292	/	129
=	-226.36 %

where Working Capital is:

	Working Capital		(Q: Mar. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(222	+	118	+	70)	-	(53	+	0	+	277)
=	80

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(382	+	111	+	24)	-	(325	+	0	+	23)
=	169

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Sep. 2023) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2023 )
	=	-530	/	8704.399
	=	-6.09 %

Land Securities Group EBIT Related Terms

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Land Securities Group (LSE:LAND) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Land Securities Group PLC (LSE:LAND) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

LSGOF:USA LDSCY:USA LANDl:UK LSU2:Germany

Address

100 Victoria Street, London, GBR, SW1E 5JL

Website

https://www.landsec.com

Land Securities Group PLC is a real estate investment trust engaged in buying, selling, developing, and managing commercial property in the United Kingdom. The company's real estate portfolio is made up of the office, retail, and leisure spaces in the London and Greater London regions. Office locations in London's West End, offices in the City of London, and shopping centers comprise the majority of the value of Land Securities' total assets. The company derives nearly all of its revenue in the form of rental income from medium- to long-term leases with tenants. Land Securities' overall net rental income is fairly evenly split between revenue from its London office properties and its retail properties in Greater London.