Accor (XPAR:AC) EBIT : €754 Mil (TTM As of Dec. 2023)

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What is Accor EBIT?

Accor's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was €387 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was €754 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Accor's annualized ROC % for the quarter that ended in Dec. 2023 was 8.20%. Accor's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 76.71%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Accor's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 6.18%.

Accor EBIT Historical Data

The historical data trend for Accor'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.

Accor EBIT Chart

Accor Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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680.00

-2,236.00

37.00

566.00

754.00

Accor 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															-90.00	116.00	450.00	367.00	387.00

Competitive Comparison of Accor's EBIT

For the Lodging subindustry, Accor'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.

Accor's EV-to-EBIT Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Accor's EV-to-EBIT distribution charts can be found below:

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

Accor 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 €754 Mil.

Accor (XPAR:AC) EBIT Explanation

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

Accor'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 )
=	818 * ( 1 - -2.41% )	/	( (10250	+	10184)	/ 2 )
=	837.7138	/	10217
=	8.20 %

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	))
=	11470	-	463	-	( 1690	-	max(0, 2507	-	3264	+	1690	))
=	10250

	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	))
=	11267	-	1132	-	( 1283	-	max(0, 2831	-	2782	+	1283	))
=	10184

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:

Accor'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 )
=	774	/	( ( (913 + max(-333, 0))	+	(1105 + max(-835, 0)) )	/	2 )
=	774	/	( ( 913	+	1105 )	/	2 )
=	774	/	1009
=	76.71 %

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)
=	(906	+	37	+	631)	-	(463	+	0	+	1444)
=	-333

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(824	+	36	+	293)	-	(1132	+	0	+	856)
=	-835

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:

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	754	/	12195.091
	=	6.18 %

Accor EBIT Related Terms

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Accor (XPAR:AC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Accor SA (XPAR:AC) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

ACRFF:USA ACCYY:USA ACC:Mexico ACp:UK 0H59:UK ACR:Germany

Address

82, Rue Henri Farman, Tour Sequana, Issy-les-Moulineaux, Paris, FRA, 92130

Website

https://group.accor.com

Accor operates 812,425 rooms across 46 brands addressing the economy through luxury segments, as of Sept. 30, 2023. Ibis (economy scale) is the largest brand (37% of total rooms at the end of 2022), followed by mid scale brands Mercure (16%) and Novotel (14%). FRHI offers additional luxury and North American exposure. After the sale of the majority of HotelInvest (owned assets) in 2018-19, the majority of total EBITDA comes from asset-light managed and franchised hotels. Northern Europe represents 21% of rooms, Southern Europe 23%, Asia-Pacific region 32%, Americas 12%, and India, Middle East, and Africa 12%. Premium, midscale, and economy are 86% of total rooms, while luxury and lifestyle are the remaining 14%.