Mitsubishi Estate Logistics REIT Investment (TSE:3481) EBIT : 円7,806 Mil (TTM As of Aug. 2023)

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What is Mitsubishi Estate Logistics REIT Investment EBIT?

Mitsubishi Estate Logistics REIT Investment's earnings before interest and taxes (EBIT) for the six months ended in Aug. 2023 was 円3,776 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Aug. 2023 was 円7,806 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Mitsubishi Estate Logistics REIT Investment's annualized ROC % for the quarter that ended in Aug. 2023 was 2.83%. Mitsubishi Estate Logistics REIT Investment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Aug. 2023 was 2.85%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Mitsubishi Estate Logistics REIT Investment's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Aug. 2023 was 2.68%.

Mitsubishi Estate Logistics REIT Investment EBIT Historical Data

The historical data trend for Mitsubishi Estate Logistics REIT Investment'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.

Mitsubishi Estate Logistics REIT Investment EBIT Chart

Mitsubishi Estate Logistics REIT Investment Annual Data

Trend

Aug17

Aug18

Aug19

Aug20

Aug21

Aug22

Aug23

EBIT

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2,482.36

3,423.46

4,661.45

5,822.60

7,442.31

Mitsubishi Estate Logistics REIT Investment Semi-Annual Data
	Aug17	Feb18	Aug18	Feb19	Aug19	Feb20	Aug20	Feb21	Aug21	Feb22	Aug22	Feb23	Aug23	Feb24
EBIT	Get a 7-Day Free Trial									2,659.62	3,162.98	3,665.85	3,776.46	4,029.44

Competitive Comparison of Mitsubishi Estate Logistics REIT Investment's EBIT

For the REIT - Industrial subindustry, Mitsubishi Estate Logistics REIT Investment'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.

Mitsubishi Estate Logistics REIT Investment's EV-to-EBIT Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Mitsubishi Estate Logistics REIT Investment's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Mitsubishi Estate Logistics REIT Investment's EV-to-EBIT falls into.

Mitsubishi Estate Logistics REIT Investment 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 Aug. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was 円7,806 Mil.

Mitsubishi Estate Logistics REIT Investment (TSE:3481) EBIT Explanation

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

Mitsubishi Estate Logistics REIT Investment's annualized ROC % for the quarter that ended in Aug. 2023 is calculated as:

	ROC % (Q: Aug. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Feb. 2023 )	+	Invested Capital (Q: Aug. 2023 ))	/ count )
=	7600.734 * ( 1 - 0.03% )	/	( (271710.615	+	265958.76)	/ 2 )
=	7598.4537798	/	268834.6875
=	2.83 %

where

	Invested Capital		(Q: Feb. 2023 )
=	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	))
=	273063.384	-	230.994	-	( 3892.773	-	max(0, 13402.546	-	14524.321	+	3892.773	))
=	271710.615

	Invested Capital		(Q: Aug. 2023 )
=	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	))
=	271357.624	-	904.869	-	( 4493.995	-	max(0, 7979.1	-	13867.331	+	4493.995	))
=	265958.76

Note: The Operating Income data used here is two times the semi-annual (Aug. 2023) data.

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

Mitsubishi Estate Logistics REIT Investment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Aug. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Aug. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Feb. 2023		Q: Aug. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	7552.92	/	( ( (258429.311 + max(8199.002, 0))	+	(257393.814 + max(6174.236, 0)) )	/	2 )
=	7552.92	/	( ( 266628.313	+	263568.05 )	/	2 )
=	7552.92	/	265098.1815
=	2.85 %

where Working Capital is:

	Working Capital		(Q: Feb. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(72.477	+	0	+	10559.071)	-	(230.994	+	0	+	2201.552)
=	8199.002

	Working Capital		(Q: Aug. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(79.284	+	0	+	9294.052)	-	(904.869	+	0	+	2294.231)
=	6174.236

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Aug. 2023) EBIT data.

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

Mitsubishi Estate Logistics REIT Investment's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Aug. 2023 )
	=	7805.902	/	291273.018
	=	2.68 %

Mitsubishi Estate Logistics REIT Investment EBIT Related Terms

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Mitsubishi Estate Logistics REIT Investment (TSE:3481) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Mitsubishi Estate Logistics REIT Investment Corp (TSE:3481) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

2-5-1 Marunouchi, Chiyoda-ku, Tokyo, JPN, 100-0005

Website

https://mel-reit.co.jp

Mitsubishi Estate Logistics REIT Investment Corp operates as a real estate investment trust with logistics facilities as its main investment target. Its portfolio consists of eight properties mainly located in Tokyo metropolitan area.

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