QEP Midstream Partners LP (FRA:1QM) EBIT : €56.0 Mil (TTM As of Mar. 2015)

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What is QEP Midstream Partners LP EBIT?

QEP Midstream Partners LP's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2015 was €21.3 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2015 was €56.0 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. QEP Midstream Partners LP's annualized ROC % for the quarter that ended in Mar. 2015 was 11.63%. QEP Midstream Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2015 was 20.53%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. QEP Midstream Partners LP's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2015 was 7.02%.

QEP Midstream Partners LP EBIT Historical Data

The historical data trend for QEP Midstream Partners LP'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.

QEP Midstream Partners LP EBIT Chart

QEP Midstream Partners LP Annual Data

Trend

Dec11

Dec12

Dec13

Dec14

EBIT

57.99

60.73

15.70

46.80

QEP Midstream Partners LP Quarterly Data
	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15
EBIT	Get a 7-Day Free Trial									10.12	8.32	12.57	13.87	21.25

Competitive Comparison of QEP Midstream Partners LP's EBIT

For the Oil & Gas Midstream subindustry, QEP Midstream Partners LP'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.

QEP Midstream Partners LP's EV-to-EBIT Distribution in the Oil & Gas Industry

For the Oil & Gas industry and Energy sector, QEP Midstream Partners LP's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where QEP Midstream Partners LP's EV-to-EBIT falls into.

QEP Midstream Partners LP 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 Mar. 2015 adds up the quarterly data reported by the company within the most recent 12 months, which was €56.0 Mil.

QEP Midstream Partners LP (FRA:1QM) EBIT Explanation

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

QEP Midstream Partners LP's annualized ROC % for the quarter that ended in Mar. 2015 is calculated as:

	ROC % (Q: Mar. 2015 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2014 )	+	Invested Capital (Q: Mar. 2015 ))	/ count )
=	62.832 * ( 1 - 0% )	/	( (509.227	+	571.032)	/ 2 )
=	62.832	/	540.1295
=	11.63 %

where

	Invested Capital		(Q: Dec. 2014 )
=	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	))
=	526.258	-	4.623	-	( 12.408	-	max(0, 11.841	-	29.764	+	12.408	))
=	509.227

	Invested Capital		(Q: Mar. 2015 )
=	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	))
=	585.816	-	7.392	-	( 7.392	-	max(0, 9.24	-	25.872	+	7.392	))
=	571.032

Note: The Operating Income data used here is four times the quarterly (Mar. 2015) data.

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

QEP Midstream Partners LP's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2015 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2015 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2014		Q: Mar. 2015
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	85.008	/	( ( (386.36 + max(-1.865, 0))	+	(434.28 + max(7.392, 0)) )	/	2 )
=	85.008	/	( ( 386.36	+	441.672 )	/	2 )
=	85.008	/	414.016
=	20.53 %

where Working Capital is:

	Working Capital		(Q: Dec. 2014 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(9.975	+	0	+	0.0010000000000012)	-	(4.623	+	1.298	+	5.92)
=	-1.865

	Working Capital		(Q: Mar. 2015 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(16.632	+	0	+	0)	-	(7.392	+	0	+	1.848)
=	7.392

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2015) EBIT data.

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

QEP Midstream Partners LP's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2015 )
	=	56.008	/	797.938
	=	7.02 %

QEP Midstream Partners LP EBIT Related Terms

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QEP Midstream Partners LP (FRA:1QM) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

N/A

Address

Website

http://www.qepm.com

QEP Midstream Partners LP provides gathering, compression and transportation services to producers and users of natural gas and crude oil. Its assets consist of ownership interests in four gathering systems and two FERC-regulated pipelines. Its assets are located in the Green River Basin located in Wyoming and Colorado, the Uinta Basin located in eastern Utah, and the portion of the Williston Basin located in North Dakota. The company derives revenues from the fee-based agreements.

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