ALLETE (ALLETE) EBIT : $288 Mil (TTM As of Dec. 2023)

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What is ALLETE EBIT?

ALLETE's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $58 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $288 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. ALLETE's annualized ROC % for the quarter that ended in Dec. 2023 was 2.17%. ALLETE's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 4.58%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. ALLETE's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 5.58%.

ALLETE EBIT Historical Data

The historical data trend for ALLETE'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.

ALLETE EBIT Chart

ALLETE Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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243.80

187.70

180.00

175.30

287.60

ALLETE Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT	Get a 7-Day Free Trial															44.00	58.40	61.40	109.40	58.40

Competitive Comparison of ALLETE's EBIT

For the Utilities - Diversified subindustry, ALLETE'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.

ALLETE's EV-to-EBIT Distribution in the Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, ALLETE's EV-to-EBIT distribution charts can be found below:

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

ALLETE 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 quarterly data reported by the company within the most recent 12 months, which was $288 Mil.

ALLETE (NYSE:ALE) EBIT Explanation

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

ALLETE'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: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	172.4 * ( 1 - 19.48% )	/	( (6363.1	+	6410.2)	/ 2 )
=	138.81648	/	6386.65
=	2.17 %

where

	Invested Capital		(Q: Sep. 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	))
=	6644.8	-	192	-	( 125.5	-	max(0, 413.5	-	503.2	+	125.5	))
=	6363.1

	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	))
=	6656.4	-	174.3	-	( 71.9	-	max(0, 377.6	-	468.1	+	71.9	))
=	6410.2

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

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

ALLETE'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: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	233.6	/	( ( (5010.5 + max(78.6, 0))	+	(5013.4 + max(99.6, 0)) )	/	2 )
=	233.6	/	( ( 5089.1	+	5113 )	/	2 )
=	233.6	/	5101.05
=	4.58 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(119.6	+	180.3	+	77.8)	-	(192	+	6	+	101.1)
=	78.6

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(106.8	+	175.4	+	83.6)	-	(174.3	+	7.4	+	84.5)
=	99.6

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	287.6	/	5154.524
	=	5.58 %

ALLETE EBIT Related Terms

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ALLETE (ALLETE) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » ALLETE Inc (NYSE:ALE) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

AEBA:Germany

Address

30 West Superior Street, Duluth, MN, USA, 55802-2093

Website

https://www.allete.com

ALLETE Inc is a provider of competitively-priced energy in America's Upper Midwest region and invests in transmission infrastructure and other energy-centric businesses. The company's two reportable segments are 1) Regulated Operations includes the company's regulated utilities, Minnesota Power and SWL&P, as well as investment in ATC, a Wisconsin-based regulated utility that owns and maintains electric transmission assets in portions of Wisconsin, Michigan, Minnesota and Illinois. 2) ALLETE Clean Energy focuses on developing, acquiring, and operating clean and renewable energy projects.

Executives

Joshua John Skelton	officer: VP ALLETE; COO MN Power	30 WEST SUPERIOR STREET, DULUTH MN 55802
Charles R Matthews	director	231 W. MICHIGAN STREET, MILWAUKEE WI 53203
Charlene A Thomas	director	55 GLENLAKE PARKWAY, NE, ATLANTA GA 30328
Heidi J Eddins	director	30 W. SUPERIOR STREET, DULUTH MN 55802
Barbara A Nick	director
Alan R Hodnik	director, officer: President	30 WEST SUPERIOR STREET, DULUTH MN 55802-2093
Robert John Adams	officer: VP Bus. Deve. Chief Risk Offic	30 WEST SUPERIOR STREET, DULUTH MN 55802-2093
Madeleine W Ludlow	director	C/O OGLEBAY NORTON COMPANY, 1001 LAKESIDE AVENUE - 15TH FLOOR, CLEVELAND OH 44114
Nicole Renee Johnson	officer: VP & Chief Admin Off	30 WEST SUPERIOR STREET, DULUTH MN 55802
Kathryn W Dindo	director	C/O FIRSTENERGY CORP, 76 SOUTH MAIN STREET, AKRON OH 44308
Margaret A Thickens	officer: VP, CLO & Secretary	30 WEST SUPERIOR STREET, DULUTH MN 55802
James J Hoolihan	director	30 WEST SUPERIOR STREET, DULUTH MN 55802-2093
Susan K Nestegard	director	AMERICAN CAPITAL, LTD., 2 BETHESDA METRO, 14TH FLOOR, BETHESDA MD 20814
Robert P Powers	director	AMERICAN ELECTRIC POWER, 1 RIVERSIDE PLAZA, COLUMBUS OH 43215
Steven Q Devinck	officer: Controller	30 WEST SUPERIOR STREET, DULUTH MN 55802-2093