Activia Properties (TSE:3279) EBIT : 円18,969 Mil (TTM As of Nov. 2023)

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What is Activia Properties EBIT?

Activia Properties's earnings before interest and taxes (EBIT) for the six months ended in Nov. 2023 was 円9,366 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Nov. 2023 was 円18,969 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Activia Properties's annualized ROC % for the quarter that ended in Nov. 2023 was 3.31%. Activia Properties's annualized ROC (Joel Greenblatt) % for the quarter that ended in Nov. 2023 was 3.50%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Activia Properties's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Nov. 2023 was 3.52%.

Activia Properties EBIT Historical Data

The historical data trend for Activia 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.

* Premium members only.

Activia Properties EBIT Chart

Activia Properties Annual Data

Trend

Nov14

Nov15

Nov16

Nov17

Nov18

Nov19

Nov20

Nov21

Nov22

Nov23

EBIT

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16,887.80

16,066.45

16,365.33

17,135.05

18,968.71

Activia Properties Semi-Annual Data
	May14	Nov14	May15	Nov15	May16	Nov16	May17	Nov17	May18	Nov18	May19	Nov19	May20	Nov20	May21	Nov21	May22	Nov22	May23	Nov23
EBIT	Get a 7-Day Free Trial															8,458.68	8,432.84	8,702.21	9,602.25	9,366.47

Competitive Comparison of Activia Properties's EBIT

For the REIT - Diversified subindustry, Activia 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.

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

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

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

Activia 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 Nov. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was 円18,969 Mil.

Activia Properties (TSE:3279) EBIT Explanation

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

Activia Properties's annualized ROC % for the quarter that ended in Nov. 2023 is calculated as:

	ROC % (Q: Nov. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: May. 2023 )	+	Invested Capital (Q: Nov. 2023 ))	/ count )
=	19176.742 * ( 1 - 0.01% )	/	( (579656.235	+	577967.189)	/ 2 )
=	19174.8243258	/	578811.712
=	3.31 %

where

	Invested Capital		(Q: May. 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	))
=	567177.894	-	1475.29	-	( 17150.438	-	max(0, 37267.318	-	23313.687	+	17150.438	))
=	579656.235

	Invested Capital		(Q: Nov. 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	))
=	568922.124	-	3131.007	-	( 21367.77	-	max(0, 39023.282	-	26847.21	+	21367.77	))
=	577967.189

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

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

Activia Properties's annualized ROC (Joel Greenblatt) % for the quarter that ended in Nov. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Nov. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: May. 2023		Q: Nov. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	18732.934	/	( ( (533462.741 + max(3145.931, 0))	+	(531516.756 + max(956.158, 0)) )	/	2 )
=	18732.934	/	( ( 536608.672	+	532472.914 )	/	2 )
=	18732.934	/	534540.793
=	3.50 %

where Working Capital is:

	Working Capital		(Q: May. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(993.424	+	0	+	5169.825)	-	(1475.29	+	0	+	1542.028)
=	3145.931

	Working Capital		(Q: Nov. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(889.327	+	0	+	4590.113)	-	(3131.007	+	0	+	1392.275)
=	956.158

When net working capital is negative, 0 is used.

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

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Nov. 2023 )
	=	18968.714	/	538749.609
	=	3.52 %

Activia Properties EBIT Related Terms

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Activia Properties (TSE:3279) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Activia Properties Inc (TSE:3279) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

1-16-3 Dogenzaka, Shibuya-ku, Tokyo, JPN, 150-0043

Website

http://www.activia-reit.co.jp

Activia Properties Inc, or API, is a Japanese real estate investment trust principally involved in the ownership of properties in the Greater Tokyo area. Most of these properties are either urban retail units near major train stations, corporate office properties, or other popular areas in Tokyo. API derives the vast majority of its income in the form of rental revenue from its real estate holdings. Its urban retail properties encompass the larger overall share of these holdings. The company's major tenants include the Tokyu Land Corporation, a Japanese railway operator. Tokyu Land Corp is also the controlling shareholder of the firm that works with Activia through an asset management agreement, TLC Activia Investment Management Inc.

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