CI Financial (TSX:CIX) EBIT : C$327 Mil (TTM As of Dec. 2023)

View and export this data going back to 1994. Start your Free Trial

What is CI Financial EBIT?

CI Financial's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was C$6 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was C$327 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. CI Financial's annualized ROC % for the quarter that ended in Dec. 2023 was 6.70%. CI Financial's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 8.96%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. CI Financial's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 5.34%.

CI Financial EBIT Historical Data

The historical data trend for CI Financial'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.

CI Financial EBIT Chart

CI Financial Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

Get a 7-Day Free Trial

782.23

708.19

695.84

628.29

326.70

CI Financial Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															75.01	101.97	158.62	60.37	5.74

Competitive Comparison of CI Financial's EBIT

For the Asset Management subindustry, CI Financial'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.

CI Financial's EV-to-EBIT Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, CI Financial's EV-to-EBIT distribution charts can be found below:

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

CI Financial 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 Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was C$327 Mil.

CI Financial (TSX:CIX) EBIT Explanation

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

CI Financial's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	468.6 * ( 1 - -65.7% )	/	( (11409.504	+	11776.594)	/ 2 )
=	776.4702	/	11593.049
=	6.70 %

where

	Invested Capital		(Q: Sep. 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	))
=	9850.966	-	1483.383	-	( 212.457	-	max(0, 4662.961	-	1621.04	+	212.457	))
=	11409.504

	Invested Capital		(Q: Dec. 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	))
=	9981.603	-	1539.816	-	( 179.81	-	max(0, 5010.261	-	1675.454	+	179.81	))
=	11776.594

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

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

CI Financial's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	22.96	/	( ( (197.731 + max(-3098.226, 0))	+	(314.84 + max(-3093.698, 0)) )	/	2 )
=	22.96	/	( ( 197.731	+	314.84 )	/	2 )
=	22.96	/	256.2855
=	8.96 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(374.732	+	0	+	1009.935)	-	(1483.383	+	0	+	2999.51)
=	-3098.226

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(388.029	+	0	+	1073.704)	-	(1539.816	+	0	+	3015.615)
=	-3093.698

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

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

CI Financial's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	326.7	/	6118.960
	=	5.34 %

CI Financial EBIT Related Terms

Thank you for viewing the detailed overview of CI Financial's EBIT provided by GuruFocus.com. Please click on the following links to see related term pages.

CI Financial (TSX:CIX) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » CI Financial Corp (TSX:CIX) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

CIXXF:USA CF7:Germany

Address

15 York Street, 2nd Floor, Legal Department, Toronto, ON, CAN, M5J 0A3

Website

https://www.cifinancial.com

CI Financial is a diversified provider of wealth management products and services, primarily in the Canadian market. The company had CAD 119.0 billion in core assets under management, another CAD 278.5 billion in wealth management assets under advisement, and CAD 23.4 billion in assets under custody at the end of September 2023, making it one of the largest nonbank affiliated asset managers in Canada. The company operates its fund business through CI Global Asset Management, which offers a broad selection of investment funds. On the wealth management side, the company operates through CI Assante Wealth Management, Aligned Capital Partners, CI Private Wealth, as well as a large group of acquired U.S.-based advisors, providing financial advice primarily to high-net-worth clients.