Derwent London (LSE:DLN) EBIT : £-439.1 Mil (TTM As of Dec. 2023)

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What is Derwent London EBIT?

Derwent London's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was £-314.6 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was £-439.1 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Derwent London's annualized ROC % for the quarter that ended in Dec. 2023 was 3.03%. Derwent London's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -1,242.25%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Derwent London's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -11.46%.

Derwent London EBIT Historical Data

The historical data trend for Derwent London'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.

Derwent London EBIT Chart

Derwent London Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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311.70

-55.50

277.10

-243.40

-439.10

Derwent London 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															143.60	154.10	-397.50	-124.50	-314.60

Competitive Comparison of Derwent London's EBIT

For the REIT - Office subindustry, Derwent London'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.

Derwent London's EV-to-EBIT Distribution in the REITs Industry

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

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

Derwent London 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 £-439.1 Mil.

Derwent London (LSE:DLN) EBIT Explanation

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

Derwent London'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 )
=	156.6 * ( 1 - -0.12% )	/	( (5281.2	+	5054.7)	/ 2 )
=	156.78792	/	5167.95
=	3.03 %

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	))
=	5346.6	-	49.1	-	( 39.1	-	max(0, 184.5	-	200.8	+	39.1	))
=	5281.2

	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	))
=	5028	-	39.7	-	( 13.9	-	max(0, 251.4	-	185	+	13.9	))
=	5054.7

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:

Derwent London'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 )
=	-629.2	/	( ( (51.4 + max(-32, 0))	+	(49.9 + max(-2.4, 0)) )	/	2 )
=	-629.2	/	( ( 51.4	+	49.9 )	/	2 )
=	-629.2	/	50.65
=	-1,242.25 %

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)
=	(13	+	50.7	+	68.4)	-	(49.1	+	0	+	115)
=	-32

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(10.4	+	68.9	+	66.4)	-	(39.7	+	0	+	108.4)
=	-2.4

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:

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	-439.1	/	3831.692
	=	-11.46 %

Derwent London EBIT Related Terms

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Derwent London (LSE:DLN) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Derwent London PLC (LSE:DLN) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

DWVYF:USA DLNl:UK DVK:Germany

Address

25 Savile Row, London, GBR, W1S 2ER

Website

https://www.derwentlondon.com

Derwent London PLC is a London-focused real estate investment trust. Derwent owns, manages, and refurbishes office real estate in Central London. Within this region, the majority of the company's assets are located in the districts of London's West End, such as Fitzrovia. Properties in London's Tech Belt and the City Borders also represent significant parts of the company's real estate portfolio. Derwent derives nearly all of its revenue from tenants in the form of rental income structured in mid-to-long-term leases. Office buildings in the central West End are responsible for the majority of revenue generated. Media and advertising companies, professional and business services firms, and retail head offices are all fairly evenly represented among the company's tenants.