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GCM Grosvenor's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2024 was $-11.9 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2024 was $-1.6 Mil.
EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. GCM Grosvenor's annualized ROC % for the quarter that ended in Mar. 2024 was -10.67%. GCM Grosvenor's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was -96.38%.
EBIT is also linked to Joel Greenblatt's definition of earnings yield. GCM Grosvenor's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was -0.19%.
The historical data trend for GCM Grosvenor'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.
GCM Grosvenor Annual Data | |||||||||||||||
Trend | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||
EBIT | Get a 7-Day Free Trial | 88.00 | -55.25 | 173.15 | 112.41 | 2.23 |
GCM Grosvenor Quarterly Data | |||||||||||||||||||
Dec18 | Dec19 | Mar20 | Jun20 | Sep20 | Dec20 | Mar21 | Jun21 | Sep21 | Dec21 | Mar22 | Jun22 | Sep22 | Dec22 | Mar23 | Jun23 | Sep23 | Dec23 | Mar24 | |
EBIT | Get a 7-Day Free Trial | -8.07 | -28.52 | 26.65 | 12.17 | -11.87 |
For the Asset Management subindustry, GCM Grosvenor'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.
For the Asset Management industry and Financial Services sector, GCM Grosvenor's EV-to-EBIT distribution charts can be found below:
* The bar in red indicates where GCM Grosvenor's EV-to-EBIT falls into.
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. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-1.6 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.
GCM Grosvenor (NAS:GCMG) EBIT Explanation
1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
GCM Grosvenor's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:
ROC % (Q: Mar. 2024 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (Q: Dec. 2023 ) | + | Invested Capital (Q: Mar. 2024 )) | / count ) |
= | -41.132 * ( 1 - -6.24% ) | / | ( (406.498 | + | 412.84) | / 2 ) |
= | -43.6986368 | / | 409.669 | |||
= | -10.67 % |
where
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 | )) |
= | 504.943 | - | 54.091 | - | ( 44.354 | - | max(0, 62.886 | - | 110.302 | + | 44.354 | )) |
= | 406.498 |
Invested Capital | (Q: Mar. 2024 ) | |||||||||||
= | 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 | )) |
= | 497.304 | - | 85.544 | - | ( 41.863 | - | max(0, 85.544 | - | 84.464 | + | 41.863 | )) |
= | 412.84 |
Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.
2. Joel Greenblatt's definition of Return on Capital:
GCM Grosvenor's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:
ROC (Joel Greenblatt) % | (Q: Mar. 2024 ) | ||||||
= | EBIT | / | Average of (Net fixed Assets | + | Net Working Capital) | ||
= | EBIT | / | Average of (Property, Plant and Equipment | + | Net Working Capital) | ||
Q: Dec. 2023 | Q: Mar. 2024 | ||||||
= | EBIT | / | ( ( (Property, Plant and Equipment + Net Working Capital) | + | (Property, Plant and Equipment + Net Working Capital) ) | / | count ) |
= | -47.496 | / | ( ( (45.932 + max(-10.519, 0)) | + | (52.624 + max(-53.228, 0)) ) | / | 2 ) |
= | -47.496 | / | ( ( 45.932 | + | 52.624 ) | / | 2 ) |
= | -47.496 | / | 49.278 | ||||
= | -96.38 % |
where Working Capital is:
Working Capital | (Q: Dec. 2023 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (52.367 | + | 0 | + | 1.4210854715202E-14) | - | (54.091 | + | 8.795 | + | 0) |
= | -10.519 |
Working Capital | (Q: Mar. 2024 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (32.316 | + | 0 | + | 0) | - | (85.544 | + | 0 | + | 0) |
= | -53.228 |
When net working capital is negative, 0 is used.
Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.
3. It is also linked to Joel Greenblatt's definition of Earnings Yield:
GCM Grosvenor's Earnings Yield (Joel Greenblatt) % for today is calculated as:
Earnings Yield (Joel Greenblatt) % | = | EBIT (TTM) | / | Enterprise Value (Q: Mar. 2024 ) |
= | -1.573 | / | 822.702 | |
= | -0.19 % |
* 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.
Thank you for viewing the detailed overview of GCM Grosvenor's EBIT provided by GuruFocus.com. Please click on the following links to see related term pages.
Pamela L Bentley | officer: Chief Financial Officer | C/O THE CARLYLE GROUP, 1001 PENNSYLVANIA AVENUE, N.W., WASHINGTON DC 20004 |
Sandra Hurse | officer: Chief HR Officer | C/O GROSVENOR CAPITAL MANAGEMENT, 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO IL 60611 |
Kathleen Patricia Sullivan | officer: M D and Head of Accounting | 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO IL 60611 |
Adage Capital Partners Gp, L.l.c. | 10 percent owner | 200 CLARENDON STREET, 52ND FLOOR, BOSTON MA 02116 |
Gcm Progress Llc | 10 percent owner | C/O GCM GROSVENOR, 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO IL 60611 |
Gcm Progress Subsidiary Llc | 10 percent owner | C/O GCM GROSVENOR, 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO IL 60611 |
Cf Finance Holdings Llc | 10 percent owner | 110 EAST 59TH STREET, NEW YORK NY 10022 |
Stephen Malkin | director | C/O GROSVENOR CAPITAL MANAGEMENT, 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO IL 60611 |
Francesca Cornelli | director | C/O GROSVENOR CAPITAL MANAGEMENT, 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO IL 60611 |
Angela Blanton | director | C/O GROSVENOR CAPITAL MANAGEMENT, 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO IL 60611 |
Gcm V, Llc | 10 percent owner | C/O GROSVENOR CAPITAL MANAGEMENT, 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO IL 60611 |
Grosvenor Holdings, L.l.c. | 10 percent owner | 900 NORTH MICHIGAN AVE, SUITE 1100, CHICAGO IL 60611 |
Jonathan Reisin Levin | director, officer: President | 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO IL 60611 |
Frederick Pollock | officer: Chief Investment Officer | 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO IL 60611 |
Michael Jay Sacks | director, 10 percent owner, officer: Chief Executive Officer | 900 NORTH MICHIGAN AVENUE, SUITE 1100, CHICAGO IL 60611 |
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