National Storage REIT (ASX:NSR) EBIT : A$274.5 Mil (TTM As of Dec. 2023)

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What is National Storage REIT EBIT?

National Storage REIT's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was A$110.3 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was A$274.5 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. National Storage REIT's annualized ROC % for the quarter that ended in Dec. 2023 was 3.63%. National Storage REIT's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 4,043.13%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. National Storage REIT's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 6.48%.

National Storage REIT EBIT Historical Data

The historical data trend for National Storage REIT'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.

National Storage REIT EBIT Chart

National Storage REIT Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

EBIT

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171.04

150.88

341.50

657.57

377.19

National Storage REIT Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
EBIT	Get a 7-Day Free Trial															291.83	365.74	213.03	164.16	110.35

Competitive Comparison of National Storage REIT's EBIT

For the REIT - Industrial subindustry, National Storage REIT'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.

National Storage REIT's EV-to-EBIT Distribution in the REITs Industry

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

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

National Storage REIT 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 semi-annually data reported by the company within the most recent 12 months, which was A$274.5 Mil.

National Storage REIT (ASX:NSR) EBIT Explanation

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

National Storage REIT'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: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	184.722 * ( 1 - 7.67% )	/	( (4525.791	+	4862.847)	/ 2 )
=	170.5538226	/	4694.319
=	3.63 %

where

	Invested Capital		(Q: Jun. 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	))
=	4582.036	-	104.278	-	( 67.33	-	max(0, 146.161	-	98.128	+	67.33	))
=	4525.791

	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	))
=	4824.675	-	37.949	-	( 49.851	-	max(0, 147.192	-	71.071	+	49.851	))
=	4862.847

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

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

National Storage REIT'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: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	220.694	/	( ( (5.622 + max(-117.568, 0))	+	(5.295 + max(-114.664, 0)) )	/	2 )
=	220.694	/	( ( 5.622	+	5.295 )	/	2 )
=	220.694	/	5.4585
=	4,043.13 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3.818	+	2.107	+	11.383)	-	(104.278	+	25.651	+	4.947)
=	-117.568

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(7.397	+	1.794	+	12.029)	-	(37.949	+	1.48	+	96.455)
=	-114.664

When net working capital is negative, 0 is used.

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

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

National Storage REIT's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	274.506	/	4235.621
	=	6.48 %

National Storage REIT EBIT Related Terms

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National Storage REIT (ASX:NSR) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

NTSGF:USA

Address

1 Eagle Street, Level 16, Brisbane, QLD, AUS, 4000

Website

https://www.nationalstorageinvest.com.au

National Storage REIT is the largest self-storage provider in Australia and New Zealand. Most of its properties are owned and operated, but it also has long-term leaseholds. Most NSR centres are in city fringe, suburban and regional areas. The industry is fragmented, mostly comprising single site owners, while the largest three players, NSR, privately owned Kennards, and the listed Abacus Storage King operate over a third of the market. NSR plans to continue acquiring and developing self-storage centres, consolidating the fragmented industry, as well generating organic growth via dynamic pricing and occupancy management. However, its large rivals are competing via similar strategies.