Acurity Health Group (NZSE:ACY) EBIT : NZ$14.08 Mil (TTM As of Mar. 2014)

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What is Acurity Health Group EBIT?

Acurity Health Group's earnings before interest and taxes (EBIT) for the six months ended in Mar. 2014 was NZ$7.29 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2014 was NZ$14.08 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Acurity Health Group's annualized ROC % for the quarter that ended in Mar. 2014 was 5.22%. Acurity Health Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2014 was 11.88%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Acurity Health Group's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2014 was 11.65%.

Acurity Health Group EBIT Historical Data

The historical data trend for Acurity Health 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.

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Acurity Health Group EBIT Chart

Acurity Health Group Annual Data

Trend

Mar05

Mar06

Mar07

Mar08

Mar09

Mar10

Mar11

Mar12

Mar13

Mar14

EBIT

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9.81

8.00

10.27

9.89

14.08

Acurity Health Group Semi-Annual Data
	Mar02	Mar03	Sep03	Mar04	Sep04	Mar05	Sep07	Mar08	Sep08	Mar09	Sep09	Mar10	Sep10	Mar11	Sep11	Mar12	Sep12	Mar13	Sep13	Mar14
EBIT	Get a 7-Day Free Trial															5.06	4.55	5.34	6.79	7.29

Competitive Comparison of Acurity Health Group's EBIT

For the Medical Care Facilities subindustry, Acurity Health 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.

Acurity Health Group's EV-to-EBIT Distribution in the Healthcare Providers & Services Industry

For the Healthcare Providers & Services industry and Healthcare sector, Acurity Health Group's EV-to-EBIT distribution charts can be found below:

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

Acurity Health 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 Mar. 2014 adds up the semi-annually data reported by the company within the most recent 12 months, which was NZ$14.08 Mil.

Acurity Health Group (NZSE:ACY) EBIT Explanation

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

Acurity Health Group's annualized ROC % for the quarter that ended in Mar. 2014 is calculated as:

	ROC % (Q: Mar. 2014 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2013 )	+	Invested Capital (Q: Mar. 2014 ))	/ count )
=	11.616 * ( 1 - 19.76% )	/	( (173.025	+	184.105)	/ 2 )
=	9.3206784	/	178.565
=	5.22 %

where

	Invested Capital		(Q: Sep. 2013 )
=	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	))
=	174.151	-	2.99	-	( 1.6	-	max(0, 17.002	-	15.138	+	1.6	))
=	173.025

	Invested Capital		(Q: Mar. 2014 )
=	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	))
=	177.579	-	11.371	-	( 1.788	-	max(0, 31.152	-	13.255	+	1.788	))
=	184.105

Note: The Operating Income data used here is two times the semi-annual (Mar. 2014) data.

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

Acurity Health Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2014 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2014 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2013		Q: Mar. 2014
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	14.58	/	( ( (117.73 + max(-0.233, 0))	+	(127.665 + max(-9.766, 0)) )	/	2 )
=	14.58	/	( ( 117.73	+	127.665 )	/	2 )
=	14.58	/	122.6975
=	11.88 %

where Working Capital is:

	Working Capital		(Q: Sep. 2013 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	2.172	+	2.096)	-	(2.99	+	0.863	+	0.648)
=	-0.233

	Working Capital		(Q: Mar. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	2.124	+	0.463)	-	(11.371	+	0.577	+	0.405)
=	-9.766

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2014) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2014 )
	=	14.081	/	120.820
	=	11.65 %

Acurity Health Group EBIT Related Terms

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Acurity Health Group (NZSE:ACY) Business Description

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GURUFOCUS.COM » STOCK LIST » Healthcare » Healthcare Providers & Services » Acurity Health Group Ltd (NZSE:ACY) » Definitions » EBIT

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Address

Website

http://www.acurity.co.nz

Acurity Health Group Ltd provides private surgical healthcare services. It owns and operates approximately three private surgical hospitals. Its surgical services include cosmetic surgery, hip and knee replacement, and hernia surgery, among others.

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