Innovative Eyewear (Innovative Eyewear) EBIT : $-7.20 Mil (TTM As of Mar. 2024)

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What is Innovative Eyewear EBIT?

Innovative Eyewear's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2024 was $-1.97 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2024 was $-7.20 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Innovative Eyewear's annualized ROC % for the quarter that ended in Mar. 2024 was -603.07%. Innovative Eyewear's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was -1,017.95%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Innovative Eyewear's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was -79.48%.

Innovative Eyewear EBIT Historical Data

The historical data trend for Innovative Eyewear'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.

Innovative Eyewear EBIT Chart

Innovative Eyewear Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

-0.11

-0.76

-3.21

-5.58

-6.66

Innovative Eyewear Quarterly Data
	Dec19	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
EBIT	Get a 7-Day Free Trial											-1.43	-1.29	-1.55	-2.39	-1.97

Competitive Comparison of Innovative Eyewear's EBIT

For the Medical Instruments & Supplies subindustry, Innovative Eyewear'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.

Innovative Eyewear's EV-to-EBIT Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Innovative Eyewear's EV-to-EBIT distribution charts can be found below:

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

Innovative Eyewear 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 Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-7.20 Mil.

Innovative Eyewear (NAS:LUCY) EBIT Explanation

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

Innovative Eyewear's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

	ROC % (Q: Mar. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Mar. 2024 ))	/ count )
=	-8.06 * ( 1 - 0% )	/	( (1.35	+	1.323)	/ 2 )
=	-8.06	/	1.3365
=	-603.07 %

where

	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	))
=	6.219	-	0.582	-	( 4.287	-	max(0, 0.624	-	5.617	+	4.287	))
=	1.35

	Invested Capital		(Q: Mar. 2024 )
=	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	))
=	4.813	-	0.841	-	( 2.649	-	max(0, 0.883	-	4.111	+	2.649	))
=	1.323

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

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

Innovative Eyewear's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2023		Q: Mar. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-7.884	/	( ( (0.133 + max(0.7, 0))	+	(0.143 + max(0.573, 0)) )	/	2 )
=	-7.884	/	( ( 0.833	+	0.716 )	/	2 )
=	-7.884	/	0.7745
=	-1,017.95 %

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.093	+	0.533	+	0.698)	-	(0.582	+	0.043	+	-0.001)
=	0.7

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.053	+	0.859	+	0.544)	-	(0.841	+	0.043	+	-0.001)
=	0.573

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2024 )
	=	-7.203	/	9.063
	=	-79.48 %

Innovative Eyewear EBIT Related Terms

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Innovative Eyewear (Innovative Eyewear) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Innovative Eyewear Inc (NAS:LUCY) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

11900 Biscayne Boulevard, Suite 630, North Miami, FL, USA, 33138

Website

https://www.lucyd.co

Innovative Eyewear Inc is engaged in developing and selling eyeglasses and sunglasses, which are designed to allow customers to remain connected to their digital lives, while also offering prescription eyewear and sun protection. Its products Lucyd Lyte glasses enable the wearer to listen to music, take and make calls, and use voice assistants to perform many common smartphone tasks hands-free.

Executives

Olivia C. Bartlett	director	11900 BISCAYNE BLVD., SUITE 630, MIAMI FL 33181
Louis Castro	director	11900 BISCAYNE BLVD., SUITE 630, MIAMI FL 33181
Konrad Dabrowski	officer: Chief Financial Officer	11900 BISCAYNE BLVD., SUITE 630, MIAMI FL 33181
Kristen Mclaughlin	director	11900 BISCAYNE BLVD., SUITE 630, MIAMI FL 33181
Harrison R. Gross	director, officer: Chief Executive Officer	11900 BISCAYNE BLVD., SUITE 630, MIAMI FL 33131
Frank Rescigna	director	8101 BISCAYNE BLVD., SUITE 705, MIAMI FL 33138
Lucyd Ltd.	10 percent owner	11900 BISCAYNE BLVD., SUITE 630, MIAMI FL 33181
David Eric Cohen	officer: Chief Technology Officer	11900 BISCAYNE BLVD., SUITE 705630, MIAMI FL 33131