5Banc Split (TSX:FBS.PR.C.PFD) EBIT : C$2.40 Mil (TTM As of Jun. 2016)

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What is 5Banc Split EBIT?

5Banc Split's earnings before interest and taxes (EBIT) for the six months ended in Jun. 2016 was C$2.84 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2016 was C$2.40 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. 5Banc Split's annualized ROC % for the quarter that ended in Jun. 2016 was 16.17%. 5Banc Split's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2016 was %.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. 5Banc Split's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2016 was -414.88%.

5Banc Split EBIT Historical Data

The historical data trend for 5Banc Split'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.

5Banc Split EBIT Chart

5Banc Split Annual Data

Trend

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

EBIT

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4.46

2.35

2.10

7.20

0.18

5Banc Split Semi-Annual Data
	Dec06	Jun07	Dec07	Jun08	Dec08	Jun09	Dec09	Jun10	Dec10	Jun11	Dec11	Jun12	Dec12	Jun13	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16
EBIT	Get a 7-Day Free Trial															6.31	0.90	0.62	-0.44	2.84

Competitive Comparison of 5Banc Split's EBIT

For the Asset Management subindustry, 5Banc Split'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.

5Banc Split's EV-to-EBIT Distribution in the Asset Management Industry

For the Asset Management industry and Financial Services sector, 5Banc Split's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where 5Banc Split's EV-to-EBIT falls into.

5Banc Split 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 Jun. 2016 adds up the semi-annually data reported by the company within the most recent 12 months, which was C$2.40 Mil.

5Banc Split (TSX:FBS.PR.C.PFD) EBIT Explanation

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

5Banc Split's annualized ROC % for the quarter that ended in Jun. 2016 is calculated as:

	ROC % (Q: Jun. 2016 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2015 )	+	Invested Capital (Q: Jun. 2016 ))	/ count )
=	5.68 * ( 1 - 0% )	/	( (34.019	+	36.249)	/ 2 )
=	5.68	/	35.134
=	16.17 %

where

	Invested Capital		(Q: Dec. 2015 )
=	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	))
=	34.293	-	0.235	-	( 0.254	-	max(0, 0.235	-	0.274	+	0.254	))
=	34.019

	Invested Capital		(Q: Jun. 2016 )
=	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	))
=	36.498	-	0.2	-	( 0.233	-	max(0, 0.2	-	0.249	+	0.233	))
=	36.249

Note: The Operating Income data used here is two times the semi-annual (Jun. 2016) data.

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

5Banc Split's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2016 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2016 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2015		Q: Jun. 2016
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	5.68	/	( ( (0 + max(-0.215, 0))	+	(0 + max(-0.184, 0)) )	/	2 )
=	5.68	/	( ( 0	+	0 )	/	2 )
=	5.68	/	0
=	%

where Working Capital is:

	Working Capital		(Q: Dec. 2015 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.02)	-	(0.235	+	0	+	0)
=	-0.215

	Working Capital		(Q: Jun. 2016 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.016)	-	(0.2	+	0	+	0)
=	-0.184

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2016) EBIT data.

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

5Banc Split's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Jun. 2016 )
	=	2.398	/	-0.578
	=	-414.88 %

5Banc Split EBIT Related Terms

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5Banc Split (TSX:FBS.PR.C.PFD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Asset Management » 5Banc Split Inc (TSX:FBS.PR.C.PFD) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.timbercreek.com

5Banc Split, Inc. operates as a closed-end mutual fund in Canada. It invests in a portfolio of publicly listed common shares of Bank of Montreal, The Bank of Nova Scotia, Canadian Imperial Bank of Commerce, Royal Bank of Canada and toronto-Dominion Bank. The Company holds the Portfolio Shares in order to generate fixed cumulative preferential dividends for the holders of the Company's Preferred Shares. Holders of the Capital Shares will also receive, subject to the prior rights of Preferred Shareholders, excess dividends, if any, after payment of the expenses of the Company and dividends on the Preferred Shares. The Company also provides holders of the Capital Shares with a leveraged investment, the value of which is linked to the changes in the fair value of the Portfolio Shares. The holders of Capital Shares benefit from capital appreciation in the Portfolio Shares in excess of the value of the Preferred Shares, any accrued and unpaid distributions on the Preferred Shares, and accrued and unpaid expenses. The Company only trades the Portfolio Shares in limited circumstances as described in the Company's original prospectus.

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