Seritage Growth Properties (Seritage Growth Properties) EBIT : $-110.30 Mil (TTM As of Dec. 2023)

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What is Seritage Growth Properties EBIT?

Seritage Growth Properties's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $10.76 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $-110.30 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Seritage Growth Properties's annualized ROC % for the quarter that ended in Dec. 2023 was -6.72%. Seritage Growth Properties's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 79.89%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Seritage Growth Properties's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -14.57%.

Seritage Growth Properties EBIT Historical Data

The historical data trend for Seritage Growth Properties'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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Seritage Growth Properties EBIT Chart

Seritage Growth Properties Annual Data

Trend

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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4.11

-61.40

69.19

-32.90

-110.30

Seritage Growth Properties 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															111.25	-46.80	-83.22	8.95	10.76

Competitive Comparison of Seritage Growth Properties's EBIT

For the REIT - Retail subindustry, Seritage Growth Properties'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.

Seritage Growth Properties's EV-to-EBIT Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Seritage Growth Properties's EV-to-EBIT distribution charts can be found below:

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

Seritage Growth Properties 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 $-110.30 Mil.

Seritage Growth Properties (NYSE:SRG) EBIT Explanation

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

Seritage Growth Properties'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 )
=	-55.476 * ( 1 - 0% )	/	( (861.376	+	789.163)	/ 2 )
=	-55.476	/	825.2695
=	-6.72 %

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	))
=	1016.29	-	56.028	-	( 98.886	-	max(0, 56.028	-	246.102	+	98.886	))
=	861.376

	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	))
=	973.864	-	50.7	-	( 134.001	-	max(0, 50.7	-	201.278	+	134.001	))
=	789.163

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

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

Seritage Growth Properties'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 )
=	43.048	/	( ( (0 + max(91.188, 0))	+	(0 + max(16.577, 0)) )	/	2 )
=	43.048	/	( ( 91.188	+	16.577 )	/	2 )
=	43.048	/	53.8825
=	79.89 %

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)
=	(20.638	+	0	+	126.578)	-	(56.028	+	0	+	0)
=	91.188

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(12.246	+	0	+	55.031)	-	(50.7	+	0	+	0)
=	16.577

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:

Seritage Growth Properties's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	-110.302	/	757.200
	=	-14.57 %

Seritage Growth Properties EBIT Related Terms

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Seritage Growth Properties (Seritage Growth Properties) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Seritage Growth Properties (NYSE:SRG) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

SRGpA.PFD:USA

Address

500 Fifth Avenue, Suite 1530, New York, NY, USA, 10110

Website

https://www.seritage.com

Seritage Growth Properties is engaged in the real property business through its investment in its operating partnership, Seritage Growth Properties, L.P. Seritage is principally engaged in the acquisition, ownership, development, redevelopment, management and leasing of diversified retail real estate throughout the United States. The company's primary objective is to create value for its shareholders through the re-leasing and redevelopment of the majority of its Wholly Owned Properties and JV Properties. It generates a majority of its revenue from tenants.

Executives

Edward S Lampert	other: Trustee	1170 KANE CONCOURSE, SUITE 200, BAY HARBOUR FL 33154
Mark Wilsmann	director	SERITAGE GROWTH PROPERTIES, 500 FIFTH AVENUE, STE. 1530, NEW YORK NY 10110
Mitchell A Sabshon	director	2901 BUTTERFIELD ROAD, OAK BROOK IL 60523
Talya Nevo-hacohen	director	C/O SABRA HEALTH CARE REIT, INC., 18500 VON KARMAN, SUITE 550, IRVINE CA 92612
Adam S Metz	director	110 NORTH WACKER DRIVE, CHICAGO IL 60606
Eric Dinenberg	officer: Chief Operating Officer	SERITAGE GROWTH PROPERTIES, 500 FIFTH AVENUE, STE. 1530, NEW YORK NY 10110
Allison Thrush	director	500 FIFTH AVENUE, SUITE 1530, NEW YORK NY 10110
Andrea Olshan	director, officer: CEO and President	500 FIFTH AVENUE, SUITE 1530, NEW YORK NY 10110
Andrew Galvin	officer: EVP of Investments	SERITAGE GROWTH PROPERTIES, 500 FIFTH AVENUE, SUITE 1530, NEW YORK NY 10110
Amanda Lombard	officer: CFO and EVP	500 FIFTH AVENUE, SUITE 1530, NEW YORK NY 10110
Brian Robert Dickman	officer: CFO and EVP	411 S. OLD WOODWARD, APT. 918, BIRMINGHAM MI 48009
Kenneth T Lombard	officer: EVP, Chief Operating Officer	550 SOUTH HOPE STREET, SUITE 2850, LOS ANGELES CA 90071
Benjamin Schall	director, officer: CEO, President	261 BROADWAY, NO.11B, NEW YORK NY 10007
Matthew E Fernand	officer: General Counsel and EVP	3333 BEVERLY ROAD, C/O SERITAGE GROWTH PROPERTIES, HOFFMAN ESTATES IL 60179
James Edwin Bry	officer: See Remarks	3333 BEVERLY ROAD, C/O SERITAGE GROWTH PROPERTIES, HOFFMAN ESTATES IL 60179