Mieszko (WAR:MSO) EBIT : zł30.3 Mil (TTM As of Sep. 2014)

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What is Mieszko EBIT?

Mieszko's earnings before interest and taxes (EBIT) for the three months ended in Sep. 2014 was zł7.2 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2014 was zł30.3 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Mieszko's annualized ROC % for the quarter that ended in Sep. 2014 was 4.76%. Mieszko's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2014 was 13.35%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Mieszko's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2014 was 18.79%.

Mieszko EBIT Historical Data

The historical data trend for Mieszko'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.

Mieszko EBIT Chart

Mieszko Annual Data

Trend

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

EBIT

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14.89

18.35

43.99

34.50

31.85

Mieszko Quarterly Data
	Jun09	Dec09	Mar10	Jun10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14
EBIT	Get a 7-Day Free Trial															6.43	16.93	6.27	-0.06	7.19

Competitive Comparison of Mieszko's EBIT

For the Confectioners subindustry, Mieszko'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.

Mieszko's EV-to-EBIT Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Mieszko's EV-to-EBIT distribution charts can be found below:

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

Mieszko 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 Sep. 2014 adds up the quarterly data reported by the company within the most recent 12 months, which was zł30.3 Mil.

Mieszko (WAR:MSO) EBIT Explanation

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

Mieszko's annualized ROC % for the quarter that ended in Sep. 2014 is calculated as:

	ROC % (Q: Sep. 2014 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2014 )	+	Invested Capital (Q: Sep. 2014 ))	/ count )
=	28.776 * ( 1 - 19.58% )	/	( (488.129	+	484.936)	/ 2 )
=	23.1416592	/	486.5325
=	4.76 %

where

	Invested Capital		(Q: Jun. 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	))
=	494.9	-	54.489	-	( 16.353	-	max(0, 203.057	-	155.339	+	16.353	))
=	488.129

	Invested Capital		(Q: Sep. 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	))
=	519.056	-	76.319	-	( 10.783	-	max(0, 224.488	-	182.289	+	10.783	))
=	484.936

Note: The Operating Income data used here is four times the quarterly (Sep. 2014) data.

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

Mieszko's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2014 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2014 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2014		Q: Sep. 2014
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	28.776	/	( ( (216.829 + max(-45.2, 0))	+	(214.424 + max(-34.001, 0)) )	/	2 )
=	28.776	/	( ( 216.829	+	214.424 )	/	2 )
=	28.776	/	215.6265
=	13.35 %

where Working Capital is:

	Working Capital		(Q: Jun. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	51.67	+	87.316)	-	(54.489	+	0	+	129.697)
=	-45.2

	Working Capital		(Q: Sep. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	60.412	+	111.094)	-	(76.319	+	0	+	129.188)
=	-34.001

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2014) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2014 )
	=	30.333	/	161.421
	=	18.79 %

Mieszko EBIT Related Terms

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Mieszko (WAR:MSO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Mieszko SA (WAR:MSO) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.mieszko.com.pl

Mieszko S.A. is engaged in the production cocoa, chocolate and confectionery, wholesale of sugar, chocolate and confectionery and retail sale of bread, cakes and confectionery.