Valiant Petroleum (LSE:VPP) EBIT : £9.5 Mil (TTM As of Jun. 2012)

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What is Valiant Petroleum EBIT?

Valiant Petroleum's earnings before interest and taxes (EBIT) for the six months ended in Jun. 2012 was £-25.0 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2012 was £9.5 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Valiant Petroleum's annualized ROC % for the quarter that ended in Jun. 2012 was -9.82%. Valiant Petroleum's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2012 was -18.69%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Valiant Petroleum's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2012 was 5.32%.

Valiant Petroleum EBIT Historical Data

The historical data trend for Valiant Petroleum'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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Valiant Petroleum EBIT Chart

Valiant Petroleum Annual Data

Trend

Sep06

Sep07

Dec08

Dec09

Dec10

Dec11

EBIT

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-2.40

-35.58

6.74

41.41

87.73

Valiant Petroleum Semi-Annual Data
	Mar08	Jun09	Dec09	Jun10	Dec10	Jun11	Dec11	Jun12
EBIT	Get a 7-Day Free Trial			19.55	22.90	51.15	34.51	-24.99

Competitive Comparison of Valiant Petroleum's EBIT

For the Oil & Gas E&P subindustry, Valiant Petroleum'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.

Valiant Petroleum's EV-to-EBIT Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Valiant Petroleum's EV-to-EBIT distribution charts can be found below:

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

Valiant Petroleum 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. 2012 adds up the semi-annually data reported by the company within the most recent 12 months, which was £9.5 Mil.

Valiant Petroleum (LSE:VPP) EBIT Explanation

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

Valiant Petroleum's annualized ROC % for the quarter that ended in Jun. 2012 is calculated as:

	ROC % (Q: Jun. 2012 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2011 )	+	Invested Capital (Q: Jun. 2012 ))	/ count )
=	-49.976 * ( 1 - 31.18% )	/	( (348.756	+	351.391)	/ 2 )
=	-34.3934832	/	350.0735
=	-9.82 %

where

	Invested Capital		(Q: Dec. 2011 )
=	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	))
=	368.353	-	18.807	-	( 11.641	-	max(0, 53.753	-	54.543	+	11.641	))
=	348.756

	Invested Capital		(Q: Jun. 2012 )
=	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	))
=	444.17	-	86.998	-	( 25.982	-	max(0, 86.998	-	92.779	+	25.982	))
=	351.391

Note: The Operating Income data used here is two times the semi-annual (Jun. 2012) data.

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

Valiant Petroleum's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2012 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2012 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2011		Q: Jun. 2012
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-49.976	/	( ( (250.401 + max(-10.851, 0))	+	(284.307 + max(-20.201, 0)) )	/	2 )
=	-49.976	/	( ( 250.401	+	284.307 )	/	2 )
=	-49.976	/	267.354
=	-18.69 %

where Working Capital is:

	Working Capital		(Q: Dec. 2011 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	4.314	+	38.588)	-	(18.807	+	0	+	34.946)
=	-10.851

	Working Capital		(Q: Jun. 2012 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	5.762	+	61.035)	-	(86.998	+	0	+	0)
=	-20.201

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2012) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Jun. 2012 )
	=	9.523	/	178.931
	=	5.32 %

Valiant Petroleum EBIT Related Terms

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Valiant Petroleum (LSE:VPP) Business Description

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