Calamos Asset Management (Calamos Asset Management) EBIT : $32.7 Mil (TTM As of Sep. 2016)

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What is Calamos Asset Management EBIT?

Calamos Asset Management's earnings before interest and taxes (EBIT) for the three months ended in Sep. 2016 was $29.5 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2016 was $32.7 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Calamos Asset Management's annualized ROC % for the quarter that ended in Sep. 2016 was 18.63%. Calamos Asset Management's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2016 was 880.03%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield.

Calamos Asset Management EBIT Historical Data

The historical data trend for Calamos Asset Management'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.

Calamos Asset Management EBIT Chart

Calamos Asset Management Annual Data

Trend

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

Dec15

EBIT

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163.06

147.03

113.58

81.26

26.79

Calamos Asset Management Quarterly Data
	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16
EBIT	Get a 7-Day Free Trial															-2.32	10.01	-9.27	2.52	29.47

Competitive Comparison of Calamos Asset Management's EBIT

For the Asset Management subindustry, Calamos Asset Management'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.

Calamos Asset Management's EV-to-EBIT Distribution in the Asset Management Industry

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

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

Calamos Asset Management 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 Sep. 2016 adds up the quarterly data reported by the company within the most recent 12 months, which was $32.7 Mil.

Calamos Asset Management (NAS:CLMS) EBIT Explanation

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

Calamos Asset Management's annualized ROC % for the quarter that ended in Sep. 2016 is calculated as:

	ROC % (Q: Sep. 2016 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2016 )	+	Invested Capital (Q: Sep. 2016 ))	/ count )
=	16.42 * ( 1 - 2.72% )	/	( (83.239	+	88.235)	/ 2 )
=	15.973376	/	85.737
=	18.63 %

where

	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	))
=	866.188	-	28.317	-	( 781.448	-	max(0, 51.352	-	805.984	+	781.448	))
=	83.239

	Invested Capital		(Q: Sep. 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	))
=	822.716	-	36.099	-	( 737.572	-	max(0, 65.356	-	763.738	+	737.572	))
=	88.235

Note: The Operating Income data used here is four times the quarterly (Sep. 2016) data.

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

Calamos Asset Management's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2016 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2016 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2016		Q: Sep. 2016
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	117.88	/	( ( (13.451 + max(-38.925, 0))	+	(13.339 + max(-51.19, 0)) )	/	2 )
=	117.88	/	( ( 13.451	+	13.339 )	/	2 )
=	117.88	/	13.395
=	880.03 %

where Working Capital is:

	Working Capital		(Q: Jun. 2016 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3.18	+	0	+	9.2470000000001)	-	(28.317	+	0	+	23.035)
=	-38.925

	Working Capital		(Q: Sep. 2016 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2.961	+	0	+	11.205)	-	(36.099	+	0	+	29.257)
=	-51.19

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2016) EBIT data.

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

Calamos Asset Management's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2016 )
	=	32.727	/	0.000
	=	%

Calamos Asset Management EBIT Related Terms

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Calamos Asset Management (Calamos Asset Management) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.calamos.com

Calamos Asset Management Inc is a Delaware corporation, incorporated on July 23, 2004. It is an asset management firm that offers strategies to fulfill a range of asset allocation goals through a multi-team platform. The Company together with its subsidiaries provides investment advisory services to individuals and institutional investors through open-end funds, closed-end funds, separate accounts, offshore funds and partnerships. The company applies an investment philosophy and proprietary process centered on risk management across a range of investment strategies, including equity, balanced, convertible, high yield, alternative, fixed income and money market investments. The Company currently offers four types of investment products that fall into the categories of mutual funds and separate accounts. Funds include its open-end and closed-end funds as well as its Offshore Funds. The Company includes the Offshore Funds in open-end funds for reporting purposes. Separate accounts are individual portfolios of securities managed to meet clients specific needs and include institutional accounts and managed accounts. The Company competes in all aspects of its business with a large number of investment management firms, commercial banks, broker-dealers and insurance companies. In the United States and other countries in which it does business, it is subject to regulations and laws at both a federal and state level, including U.S. federal, state and local tax laws as well as similar foreign jurisdiction tax laws.

Executives

Keith M Schappert	other: Former Director	2020 CALAMOS COURT, NAPERVILLE IL 60563
Thomas F Eggers	other: Former Director	CALAMOS ASSET MANAGEMENT, INC., 2020 CALAMOS COURT, NAPERVILLE IL 60563
William N Shiebler	other: Former Director	2020 CALAMOS COURT, NAPERVILLE IL 60563
Robert Behan	officer: Pres., Head of Global Distrib.	2020 CALAMOS COURT, NAPERVILLE IL 60563
Calamos Family Partners, Inc.	10 percent owner	2020 CALAMOS COURT, NAPERVILLE IL 60563
Calamos John P Sr	director, 10 percent owner, officer: Founder, Chairman & Global CIO	2020 CALAMOS COURT, NAPERVILLE IL 60563
Mangrove Partners Fund, L.p.	10 percent owner	645 MADISON AVENUE, 14TH FLOOR, NEW YORK NY 10022
Capital Mangrove	10 percent owner	10 EAST 53RD STREET, 31ST FLOOR, NEW YORK NY 10022
Partners Mangrove	10 percent owner	645 MADISON AVENUE, 14TH FLOOR, NEW YORK NY 10022
Nathaniel H. August	10 percent owner	10 EAST 53RD STREET, 31ST FLOOR, NEW YORK NY 10022
Mangrove Partners Master Fund, Ltd.	10 percent owner	645 MADISON AVE, 14 FLOOR, NEW YORK NY 10022
Mangrove Partners Fund (cayman), Ltd.	10 percent owner	MAPLES CORP. SVCS, PO BOX 309, UGLAND HOUSE, S. CHURCH STREET, GEORGE TOWN E9 KY1-1104
Thomas E Herman	officer: SVP, Chief Fiancial Officer	2020 CALAMOS COURT, NAPERVILLE IL 60563
Nimish S Bhatt	officer: SVP & CFO	2020 CALAMOS COURT, NAPERVILLE IL 60563
John S. Koudounis	director, officer: CEO	2020 CALAMOS COURT, NAPERVILLE IL 60563