Tokaido REIT (TSE:2989) EBIT : 円1,770 Mil (TTM As of Jul. 2023)

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What is Tokaido REIT EBIT?

Tokaido REIT's earnings before interest and taxes (EBIT) for the six months ended in Jul. 2023 was 円879 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jul. 2023 was 円1,770 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Tokaido REIT's annualized ROC % for the quarter that ended in Jul. 2023 was 4.24%. Tokaido REIT's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jul. 2023 was 4.52%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Tokaido REIT's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jul. 2023 was 3.40%.

Tokaido REIT EBIT Historical Data

The historical data trend for Tokaido 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.

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Tokaido REIT EBIT Chart

Tokaido REIT Annual Data

Trend

Jul21

Jan22

Jul23

EBIT

488.51

1,494.84

Tokaido REIT Semi-Annual Data
	Jul21	Jan22	Jul22	Jan23	Jul23	Jan24
EBIT	Get a 7-Day Free Trial			683.25	606.81	615.64	879.20	890.70

Competitive Comparison of Tokaido REIT's EBIT

For the REIT - Diversified subindustry, Tokaido 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.

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

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

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

Tokaido 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 Jul. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was 円1,770 Mil.

Tokaido REIT (TSE:2989) EBIT Explanation

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

Tokaido REIT's annualized ROC % for the quarter that ended in Jul. 2023 is calculated as:

	ROC % (Q: Jul. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jan. 2023 )	+	Invested Capital (Q: Jul. 2023 ))	/ count )
=	1933.848 * ( 1 - 0.11% )	/	( (36878.341	+	54244.071)	/ 2 )
=	1931.7207672	/	45561.206
=	4.24 %

where

	Invested Capital		(Q: Jan. 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	))
=	35019.995	-	228.818	-	( 820.225	-	max(0, 4348.26	-	2261.096	+	820.225	))
=	36878.341

	Invested Capital		(Q: Jul. 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	))
=	50037.911	-	405.481	-	( 943.046	-	max(0, 7945.128	-	3333.487	+	943.046	))
=	54244.071

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

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

Tokaido REIT's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jul. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jul. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jan. 2023		Q: Jul. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1758.404	/	( ( (30533.24 + max(1042.611, 0))	+	(44524.52 + max(1745.313, 0)) )	/	2 )
=	1758.404	/	( ( 31575.851	+	46269.833 )	/	2 )
=	1758.404	/	38922.842
=	4.52 %

where Working Capital is:

	Working Capital		(Q: Jan. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(41.887	+	0	+	1398.984)	-	(228.818	+	0	+	169.442)
=	1042.611

	Working Capital		(Q: Jul. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(84.706	+	0	+	2305.735)	-	(405.481	+	0	+	239.647)
=	1745.313

When net working capital is negative, 0 is used.

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

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Jul. 2023 )
	=	1769.899	/	52017.704
	=	3.40 %

Tokaido REIT EBIT Related Terms

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Tokaido REIT (TSE:2989) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Tokaido REIT Inc (TSE:2989) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

2-14-3 Nagatacho, Chiyoda-ku, Tokyo, JPN, 100-0014

Website

Tokaido REIT Inc is a real estate investment trust that focuses on the Tokaido area, mainly Shizuoka, Aichi, and Mie prefectures. Its Investment targets are divided into two types including "Industrial infrastructure assets" targeting logistics facilities and office buildings, and "Living infrastructure assets" for residential and commercial facilities.

Tokaido REIT (TSE:2989) Headlines

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