Lizhan Environmental (Lizhan Environmental) EBIT : $-0.66 Mil (TTM As of Mar. 2012)

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What is Lizhan Environmental EBIT?

Lizhan Environmental's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2012 was $-0.69 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2012 was $-0.66 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Lizhan Environmental's annualized ROC % for the quarter that ended in Mar. 2012 was -4.17%. Lizhan Environmental's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2012 was -5.66%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Lizhan Environmental's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2012 was -65,900.00%.

Lizhan Environmental EBIT Historical Data

The historical data trend for Lizhan Environmental'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.

Lizhan Environmental EBIT Chart

Lizhan Environmental Annual Data

Trend

Sep08

Sep09

Sep10

Sep11

EBIT

1.61

2.90

9.37

2.25

Lizhan Environmental Quarterly Data
	Sep08	Jun09	Sep09	Dec09	Mar10	Jun10	Sep10	Dec10	Mar11	Jun11	Sep11	Mar12
EBIT	Get a 7-Day Free Trial							2.54	-0.33	0.14	-0.11	-0.69

Competitive Comparison of Lizhan Environmental's EBIT

For the Textile Manufacturing subindustry, Lizhan Environmental'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.

Lizhan Environmental's EV-to-EBIT Distribution in the Manufacturing - Apparel & Accessories Industry

For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Lizhan Environmental's EV-to-EBIT distribution charts can be found below:

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

Lizhan Environmental 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 Mar. 2012 adds up the quarterly data reported by the company within the most recent 12 months, which was $-0.66 Mil.

Lizhan Environmental (OTCPK:LZENF) EBIT Explanation

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

Lizhan Environmental's annualized ROC % for the quarter that ended in Mar. 2012 is calculated as:

	ROC % (Q: Mar. 2012 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2011 )	+	Invested Capital (Q: Mar. 2012 ))	/ count )
=	-2.716 * ( 1 - 0% )	/	( (62.05	+	68.124)	/ 2 )
=	-2.716	/	65.087
=	-4.17 %

where

	Invested Capital		(Q: Sep. 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	))
=	64.554	-	8.812	-	( 1.231	-	max(0, 32.361	-	26.053	+	1.231	))
=	62.05

	Invested Capital		(Q: Mar. 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	))
=	67.361	-	12.256	-	( 0.503	-	max(0, 41.172	-	28.153	+	0.503	))
=	68.124

Note: The Operating Income data used here is four times the quarterly (Mar. 2012) data.

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

Lizhan Environmental's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2012 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2012 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2011		Q: Mar. 2012
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-2.768	/	( ( (34.094 + max(14.826, 0))	+	(34.948 + max(13.978, 0)) )	/	2 )
=	-2.768	/	( ( 48.92	+	48.926 )	/	2 )
=	-2.768	/	48.923
=	-5.66 %

where Working Capital is:

	Working Capital		(Q: Sep. 2011 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(6.304	+	13.009	+	4.324)	-	(8.812	+	0	+	-0.0010000000000048)
=	14.826

	Working Capital		(Q: Mar. 2012 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4.191	+	16.643	+	5.4)	-	(12.256	+	0	+	0)
=	13.978

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2012) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2012 )
	=	-0.659	/	0.001
	=	-65,900.00 %

Lizhan Environmental EBIT Related Terms

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Lizhan Environmental (Lizhan Environmental) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Manufacturing - Apparel & Accessories » Lizhan Environmental Corp (OTCPK:LZENF) » Definitions » EBIT

Traded in Other Exchanges

N/A

Address

No. 716, Qifu Road, Wutong Street, Tongxiang, Zhejiang Province, CHN, 314500

Website

http://gb.lzencorp.com/

Lizhan Environmental Corp manufactures, distributes and markets synthetic leather and other fabrics from recycled leather waste, among other materials. It's products used in the production of residential and office furniture, garments, automotive upholstery products, and various consumer applications. It sells domestically in China and export to distributors and manufacturers in the United States and other foreign countries.

Lizhan Environmental (Lizhan Environmental) Headlines

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