UBM (LSE:UBMN) EBIT : £219 Mil (TTM As of Dec. 2017)

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What is UBM EBIT?

UBM's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2017 was £145 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2017 was £219 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. UBM's annualized ROC % for the quarter that ended in Dec. 2017 was 9.77%. UBM's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2017 was 751.17%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. UBM's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2017 was 17.08%.

UBM EBIT Historical Data

The historical data trend for UBM'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.

UBM EBIT Chart

UBM Annual Data

Trend

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

Dec16

Dec17

EBIT

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138.10

128.20

148.20

218.90

UBM Semi-Annual Data
	Jun09	Dec09	Jun10	Dec10	Jun11	Dec11	Jun12	Dec12	Jun13	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17
EBIT	Get a 7-Day Free Trial													98.30	66.00	82.20	74.30	144.60

Competitive Comparison of UBM's EBIT

For the Advertising Agencies subindustry, UBM'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.

UBM's EV-to-EBIT Distribution in the Media - Diversified Industry

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

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

UBM 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 Dec. 2017 adds up the semi-annually data reported by the company within the most recent 12 months, which was £219 Mil.

UBM (LSE:UBMN) EBIT Explanation

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

UBM's annualized ROC % for the quarter that ended in Dec. 2017 is calculated as:

	ROC % (Q: Dec. 2017 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2017 )	+	Invested Capital (Q: Dec. 2017 ))	/ count )
=	296 * ( 1 - 19.8% )	/	( (2259.4	+	2598.7)	/ 2 )
=	237.392	/	2429.05
=	9.77 %

where

	Invested Capital		(Q: Jun. 2017 )
=	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	))
=	2621.3	-	653.5	-	( 116.9	-	max(0, 670.7	-	379.1	+	116.9	))
=	2259.4

	Invested Capital		(Q: Dec. 2017 )
=	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	))
=	2452	-	111.3	-	( 77.7	-	max(0, 552.4	-	294.4	+	77.7	))
=	2598.7

Note: The Operating Income data used here is two times the semi-annual (Dec. 2017) data.

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

UBM's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2017 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2017 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2017		Q: Dec. 2017
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	289.2	/	( ( (37.1 + max(-405.4, 0))	+	(39.9 + max(-332.1, 0)) )	/	2 )
=	289.2	/	( ( 37.1	+	39.9 )	/	2 )
=	289.2	/	38.5
=	751.17 %

where Working Capital is:

	Working Capital		(Q: Jun. 2017 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(262.2	+	0	+	0)	-	(653.5	+	0	+	14.1)
=	-405.4

	Working Capital		(Q: Dec. 2017 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(143.2	+	0	+	73.5)	-	(111.3	+	0	+	437.5)
=	-332.1

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2017) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2017 )
	=	218.9	/	1281.750
	=	17.08 %

UBM EBIT Related Terms

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UBM (LSE:UBMN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » UBM PLC (LSE:UBMN) » Definitions » EBIT

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Address

Website

http://www.ubm.com

UBM PLC is a United Kingdom-based global business-to-business organizer. In addition to focusing on business-to-business events, the company operates live media, communication, and marketing services. The majority of the company's revenue is derived from it organization of business events such as tradeshows, making it one of the leading event and exhibition organizers in the world. Its events are mostly focused in North America, emerging markets countries such as China and India, and the U.K. The company's revenue is fairly evenly split across these regions. UBM's clients mainly operate in the industrial, transportation, fashion, and healthcare industries.

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