GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Boston Properties Inc (NYSE:BXP) » Definitions » EBIT

Boston Properties (Boston Properties) EBIT : $871 Mil (TTM As of Dec. 2023)


View and export this data going back to 1997. Start your Free Trial

What is Boston Properties EBIT?

Boston Properties's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $308 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $871 Mil.

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

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


Boston Properties EBIT Historical Data

The historical data trend for Boston 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.

Boston Properties EBIT Chart

Boston Properties Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,064.72 1,450.41 1,055.28 1,457.72 871.00

Boston Properties 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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 275.65 239.84 278.66 44.27 308.24

Competitive Comparison of Boston Properties's EBIT

For the REIT - Office subindustry, Boston 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.


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

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

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



Boston 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 Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $871 Mil.

* 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.


Boston Properties  (NYSE:BXP) EBIT Explanation

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

Boston Properties'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 )
=1057.16 * ( 1 - 0% )/( (23093.923 + 23731.483)/ 2 )
=1057.16/23412.703
=4.52 %

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))
=24739.148 - 762.578 - ( 882.647 - max(0, 762.578 - 2487.604+882.647))
=23093.923

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))
=26026.149 - 763.189 - ( 1531.477 - max(0, 763.189 - 3194.383+1531.477))
=23731.483

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

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

Boston Properties'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 )
=1232.94/( ( (0 + max(-591.699, 0)) + (0 + max(-559.692, 0)) )/ 2 )
=1232.94/( ( 0 + 0 )/ 2 )
=1232.94/0
= %

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)
=(123.138 + 0 + 47.741) - (762.578 + 0 + 0)
=-591.699

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(122.407 + 0 + 81.09) - (763.189 + 0 + 0)
=-559.692

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:

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2023 )
=870.996/24753.267
=3.52 %

* 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.


Boston Properties EBIT Related Terms

Thank you for viewing the detailed overview of Boston Properties's EBIT provided by GuruFocus.com. Please click on the following links to see related term pages.


Boston Properties (Boston Properties) Business Description

Traded in Other Exchanges
Address
800 Boylston Street, Suite 1900, Prudential Center, Boston, MA, USA, 02199-8103
Boston Properties owns over 190 properties consisting of approximately 54 million rentable square feet of space. The portfolio is dominated by office buildings and is spread across major cities such as New York, Boston, San Francisco, Los Angeles, Seattle, and the Washington, D.C., region. The real estate investment trust also owns limited retail, hotel, and residential properties.
Executives
Eric G Kevorkian officer: SVP, CLO and Secretary 800 BOYLSTON STREET, SUITE 1900, BOSTON MA 02199
Rodney Diehl officer: Senior Vice President FOUR EMBARCADERO CENTER, SAN FRANCISCO CA 94549
Raymond A Ritchey officer: Executive Vice President BOSTON PROPERTIES, INC., 901 NEW YORK AVENUE, NW, WASHINGTON DC 20001
Peter V Otteni officer: Senior Vice President 2200 PENNSYLVANIA AVENUE NW, SUITE 200W, WASHINGTON DC 20037
Carol B. Einiger director POST ROCK ADVISORS, LLC, ONE ROCKEFELLER PLAZA, 28TH FLOOR, NEW YORK NY 10020
Tony West director 1455 MARKET STREET, 4TH FLOOR, SAN FRANCISCO CA 94103
Matthew J Lustig director LAZARD FRERES & CO LLC, 30 ROCKEFELLER PLZA 50TH FL, NEW YORK NY 10020
Donna D Garesche officer: EVP, Chief HR Officer C/O BOSTON PROPERTIES, INC., 800 BOYLSTON STREET, BOSTON MA 02199
Hilary J. Spann officer: Executive Vice President 599 LEXINGTON AVENUE, 16TH FLOOR, NEW YORK NY 10022
Mary E Kipp director 100 N STANTON, EL PASO TX 79901
Douglas T Linde officer: SVP & CFO BOSTON PROPERTIES, INC., 800 BOYLSTON STREET, BOSTON MA 02199
Frank D Burt officer: Senior Vice President BOSTON PROPERTIES, INC., 800 BOYLSTON STREET, BOSTON MA 02199
John J Stroman officer: Senior Vice President 2200 PENNSYLVANIA AVENUE NW, SUITE 200W, WASHINGTON DC 20037
Bryan J Koop officer: Senior Vice President BOSTON PROPERTIES, INC., 800 BOYLSTON STREET, BOSTON MA 02199
Bruce W Duncan director ONE NORTH WACKER DRIVE, SUITE 4200, CHICAGO IL 60606