Cadiz (CDZI) EBIT : $-25.86 Mil (TTM As of Dec. 2023)

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What is Cadiz EBIT?

Cadiz's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $-5.38 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $-25.86 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Cadiz's annualized ROC % for the quarter that ended in Dec. 2023 was -21.66%. Cadiz's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -24.79%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Cadiz's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -12.39%.

Cadiz EBIT Historical Data

The historical data trend for Cadiz'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.

Cadiz EBIT Chart

Cadiz Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

Get a 7-Day Free Trial

-12.04

-24.74

-20.70

-16.56

-25.86

Cadiz 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															-4.94	-9.19	-5.72	-5.57	-5.38

Competitive Comparison of Cadiz's EBIT

For the Utilities - Regulated Water subindustry, Cadiz'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.

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

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

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

Cadiz 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 $-25.86 Mil.

Cadiz (NAS:CDZI) EBIT Explanation

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

Cadiz'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 )
=	-21.78 * ( 1 - -0.04% )	/	( (99.684	+	101.486)	/ 2 )
=	-21.788712	/	100.585
=	-21.66 %

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	))
=	114.455	-	4.075	-	( 13.306	-	max(0, 5.93	-	16.626	+	13.306	))
=	99.684

	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	))
=	107.374	-	3.703	-	( 4.502	-	max(0, 5.835	-	8.02	+	4.502	))
=	101.486

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

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

Cadiz'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 )
=	-21.524	/	( ( (85.999 + max(-2.298, 0))	+	(87.648 + max(-2.008, 0)) )	/	2 )
=	-21.524	/	( ( 85.999	+	87.648 )	/	2 )
=	-21.524	/	86.8235
=	-24.79 %

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)
=	(0.41	+	2.128	+	0.782)	-	(4.075	+	0.093	+	1.45)
=	-2.298

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.904	+	2.106	+	0.508)	-	(3.703	+	0.373	+	1.45)
=	-2.008

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:

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	-25.86	/	208.776
	=	-12.39 %

Cadiz EBIT Related Terms

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Cadiz (CDZI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Utilities » Utilities - Regulated » Cadiz Inc (NAS:CDZI) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

2ZC:Germany

Address

550 South Hope Street, Suite 2850, Los Angeles, CA, USA, 90071

Website

https://www.cadizinc.com

Cadiz Inc is a land and water resource development company in California. Its primary business is to acquire and develop land with water resources for various uses, including groundwater supply, groundwater storage, and agriculture. The company focuses on the development of the Cadiz Valley Water Conservation, Recovery and Storage Project which will capture and conserve native groundwater currently being lost to evaporation from the aquifer system beneath the property of Cadiz and Fenner valleys of eastern San Bernardino County, and deliver it to water providers throughout Southern California. The company operates in two segment- Land and Water Resources and ATEC Water Systems LLC.

Executives

Susan P Kennedy	director	550 SOUTH HOPE STREET, SUITE 2850, LOS ANGELES CA 90071
Winston H Hickox	director	C/O THOMAS PROPERTIES GROUP, INC., 515 SOUTH FLOWER STREET, 6TH FLOOR, LOS ANGELES CA 90071
Maria S. Dreyfus	director	125 WEST 55TH STREET, 15TH FLOOR, NEW YORK NY 10019
Scott S Slater	director, officer: Chief Executive Officer	550 SOUTH HOPE STREET, SUITE 2850, LOS ANGELES CA 90071
Heerema International Group Services Sa	10 percent owner	ROUTE DE FLORISSANT 81, GENEVE V8 1206
Kenneth T Lombard	director	550 SOUTH HOPE STREET, SUITE 2850, LOS ANGELES CA 90071
Richard Garcia Polanco	director	550 SOUTH HOPE STREET, SUITE 2850, LOS ANGELES CA 90071
Stephen E Courter	director	C/O CADIZ INC., 550 SOUTH HOPE STREET, 2850, LOS ANGELES X1 90071
Webb De Macias Carolyn D	director	304 NORTH ALMANSOR STREET, ALHAMBRA CA 91801
Maria Echaveste	director	1511 ARCH STREET, BERKELEY CA 94708
Odey Asset Management Llp	10 percent owner	18 UPPER BROOK STREET, LONDON, UNITED KINGDOM X0 W1K 7PU
Odey Holdings Ltd	10 percent owner	18 UPPER BROOK STREET, LONDON X0 W1K 7PU
Odey Robin Crispin William	10 percent owner	18 UPPER BROOK STREET, LONDON, UNITED KINGDOM X0 W1K 7PU
Odey Asset Management Group Ltd	10 percent owner	18 UPPER BROOK STREET, LONDON X0 W1K 7PU
Keith Brackpool	director, officer: Chief Executive Officer	550 SOUTH HOPE STREET, SUITE 2850, LOS ANGELES CA 90071