Daiwa Office Investment (TSE:8976) EBIT : 円14,121 Mil (TTM As of Nov. 2023)

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What is Daiwa Office Investment EBIT?

Daiwa Office Investment's earnings before interest and taxes (EBIT) for the six months ended in Nov. 2023 was 円6,592 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Nov. 2023 was 円14,121 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Daiwa Office Investment's annualized ROC % for the quarter that ended in Nov. 2023 was 2.81%. Daiwa Office Investment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Nov. 2023 was 2.95%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Daiwa Office Investment's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Nov. 2023 was 3.08%.

Daiwa Office Investment EBIT Historical Data

The historical data trend for Daiwa Office 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.

Daiwa Office Investment EBIT Chart

Daiwa Office Investment Annual Data

Trend

Nov13

Nov14

Nov15

Nov16

Nov17

Nov18

Nov19

Nov20

Nov21

Nov22

EBIT

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12,848.32

13,821.26

14,781.50

15,213.62

14,834.67

Daiwa Office Investment Semi-Annual Data
	May14	Nov14	May15	Nov15	May16	Nov16	May17	Nov17	May18	Nov18	May19	Nov19	May20	Nov20	May21	Nov21	May22	Nov22	May23	Nov23
EBIT	Get a 7-Day Free Trial															7,217.30	7,918.57	6,916.10	7,528.64	6,592.12

Competitive Comparison of Daiwa Office Investment's EBIT

For the REIT - Office subindustry, Daiwa Office 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.

Daiwa Office Investment's EV-to-EBIT Distribution in the REITs Industry

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

* The bar in red indicates where Daiwa Office Investment's EV-to-EBIT falls into.

Daiwa Office 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 Nov. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was 円14,121 Mil.

Daiwa Office Investment (TSE:8976) EBIT Explanation

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

Daiwa Office Investment's annualized ROC % for the quarter that ended in Nov. 2023 is calculated as:

	ROC % (Q: Nov. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: May. 2023 )	+	Invested Capital (Q: Nov. 2023 ))	/ count )
=	13495.954 * ( 1 - -0.66% )	/	( (481543.073	+	486455.502)	/ 2 )
=	13585.0272964	/	483999.2875
=	2.81 %

where

	Invested Capital		(Q: May. 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	))
=	482471.082	-	2242.34	-	( 27028.187	-	max(0, 32618.11	-	31303.779	+	27028.187	))
=	481543.073

	Invested Capital		(Q: Nov. 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	))
=	482200.822	-	2139.361	-	( 25875.644	-	max(0, 36635.051	-	30241.01	+	25875.644	))
=	486455.502

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

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

Daiwa Office Investment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Nov. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Nov. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: May. 2023		Q: Nov. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	13184.238	/	( ( (446536.446 + max(-742.518, 0))	+	(447212.133 + max(-769.685, 0)) )	/	2 )
=	13184.238	/	( ( 446536.446	+	447212.133 )	/	2 )
=	13184.238	/	446874.2895
=	2.95 %

where Working Capital is:

	Working Capital		(Q: May. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(94.142	+	0	+	4181.45)	-	(2242.34	+	0	+	2775.77)
=	-742.518

	Working Capital		(Q: Nov. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(95.994	+	0	+	4269.372)	-	(2139.361	+	0	+	2995.69)
=	-769.685

When net working capital is negative, 0 is used.

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

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

Daiwa Office Investment's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Nov. 2023 )
	=	14120.758	/	458357.480
	=	3.08 %

Daiwa Office Investment EBIT Related Terms

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Daiwa Office Investment (TSE:8976) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Daiwa Office Investment Corp (TSE:8976) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

6-2-1 Ginza, Chuo-ku, Tokyo, JPN

Website

https://www.daiwa-office.co.jp

Daiwa Office Investment Corp is a real estate investment trust focused on acquiring, managing, and leasing office properties located in the Five Central Wards of Tokyo. The vast majority of the company's real estate portfolio is composed of office buildings fairly evenly distributed between Tokyo's Five Central Wards in terms of total value. Daiwa derives nearly all of its income in the form of rental revenue from leasing its properties. The firm has a varied tenant base from a number of industries, including the entertainment, retail, insurance, and food and beverage companies.

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