National Tax Credit Partners LP (National Tax Credit Partners LP) EBIT : $-0.19 Mil (TTM As of Dec. 2012)

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What is National Tax Credit Partners LP EBIT?

National Tax Credit Partners LP's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2012 was $-0.19 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2012 was $-0.19 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. National Tax Credit Partners LP's annualized ROC % for the quarter that ended in Dec. 2012 was %. National Tax Credit Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2012 was %.

EBIT is also linked to Joel Greenblatt's definition of earnings yield.

National Tax Credit Partners LP EBIT Historical Data

The historical data trend for National Tax Credit Partners LP'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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National Tax Credit Partners LP EBIT Chart

National Tax Credit Partners LP Annual Data

Trend

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

EBIT

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-0.29

-0.36

-0.34

-0.30

-0.19

National Tax Credit Partners LP Semi-Annual Data
	Dec06	Dec07	Dec08	Dec09	Dec10	Dec11	Dec12
EBIT	Get a 7-Day Free Trial			-0.29	-0.36	-0.34	-0.30	-0.19

Competitive Comparison of National Tax Credit Partners LP's EBIT

For the Credit Services subindustry, National Tax Credit Partners LP'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.

National Tax Credit Partners LP's EV-to-EBIT Distribution in the Credit Services Industry

For the Credit Services industry and Financial Services sector, National Tax Credit Partners LP's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where National Tax Credit Partners LP's EV-to-EBIT falls into.

National Tax Credit Partners LP 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. EBIT for the trailing twelve months (TTM) ended in Dec. 2012 was $-0.19 Mil.

National Tax Credit Partners LP (OTCPK:NTXCZ) EBIT Explanation

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

National Tax Credit Partners LP's annualized ROC % for the quarter that ended in Dec. 2012 is calculated as:

	ROC % (Q: Dec. 2012 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2011 )	+	Invested Capital (Q: Dec. 2012 ))	/ count )
=	-0.189 * ( 1 - 0% )	/	( (0	+	0)	/ 2 )
=	-0.189	/	0
=	%

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	))
=	0.11	-	1.176	-	( 0.11	-	max(0, 1.176	-	0.11	+	0.11	))
=	0

	Invested Capital		(Q: Dec. 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	))
=	0.064	-	1.269	-	( 0.058	-	max(0, 1.269	-	0.064	+	0.058	))
=	0

Note: The Operating Income data used here is one times the annual (Dec. 2012) data.

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

National Tax Credit Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2012 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2012 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2011		Q: Dec. 2012
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-0.189	/	( ( (0 + max(-1.176, 0))	+	(0 + max(-1.263, 0)) )	/	2 )
=	-0.189	/	( ( 0	+	0 )	/	2 )
=	-0.189	/	0
=	%

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	+	0	+	0)	-	(1.176	+	0	+	0)
=	-1.176

	Working Capital		(Q: Dec. 2012 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.006	+	0	+	0)	-	(1.269	+	0	+	0)
=	-1.263

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (Dec. 2012) EBIT data.

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

National Tax Credit Partners LP's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2012 )
	=	-0.189	/	0.000
	=	%

National Tax Credit Partners LP EBIT Related Terms

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National Tax Credit Partners LP (National Tax Credit Partners LP) Business Description

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National Tax Credit Partners, L.P. is a limited partnership formed under the laws of the State of California on March 7, 1989. The Partnership was formed to invest primarily in other limited partnerships (the Local Partnerships) which own or lease and operate multifamily housing complexes that are eligible for low-income housing tax credits, or in certain cases, historic rehabilitation tax credits (Tax Credits). The general partner of the Partnership (the General Partner) is National Partnership Investments Corp. The Partnership holds limited partnership interests in twelve Local Partnerships, located in six states and Puerto Rico. The Local Partnerships own residential projects consisting of 682 apartment units.

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