Matthias Hohner AG (STU:HOH) EBIT : €3.73 Mil (TTM As of Sep. 2013)

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What is Matthias Hohner AG EBIT?

Matthias Hohner AG's earnings before interest and taxes (EBIT) for the six months ended in Sep. 2013 was €2.18 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2013 was €3.73 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Matthias Hohner AG's annualized ROC % for the quarter that ended in Sep. 2013 was 9.07%. Matthias Hohner AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2013 was 15.59%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Matthias Hohner AG's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2013 was 10.20%.

Matthias Hohner AG EBIT Historical Data

The historical data trend for Matthias Hohner AG'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.

Matthias Hohner AG EBIT Chart

Matthias Hohner AG Annual Data

Trend

Mar10

Mar11

Mar12

Mar13

EBIT

3.11

2.66

2.64

3.39

Matthias Hohner AG Semi-Annual Data
	Mar11	Sep11	Mar12	Sep12	Mar13	Sep13
EBIT	Get a 7-Day Free Trial			2.20	0.44	1.84	1.55	2.18

Competitive Comparison of Matthias Hohner AG's EBIT

For the subindustry, Matthias Hohner AG'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.

Matthias Hohner AG's EV-to-EBIT Distribution in the Industry

For the industry and sector, Matthias Hohner AG's EV-to-EBIT distribution charts can be found below:

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

Matthias Hohner AG 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. 2013 adds up the semi-annually data reported by the company within the most recent 12 months, which was €3.73 Mil.

Matthias Hohner AG (STU:HOH) EBIT Explanation

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

Matthias Hohner AG's annualized ROC % for the quarter that ended in Sep. 2013 is calculated as:

	ROC % (Q: Sep. 2013 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2013 )	+	Invested Capital (Q: Sep. 2013 ))	/ count )
=	4.356 * ( 1 - 20.66% )	/	( (37.276	+	38.9)	/ 2 )
=	3.4560504	/	38.088
=	9.07 %

where

	Invested Capital		(Q: Mar. 2013 )
=	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	))
=	49.68	-	3.822	-	( 8.582	-	max(0, 13.458	-	35.494	+	8.582	))
=	37.276

	Invested Capital		(Q: Sep. 2013 )
=	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	))
=	51.878	-	3.914	-	( 9.064	-	max(0, 14.873	-	37.944	+	9.064	))
=	38.9

Note: The Operating Income data used here is two times the semi-annual (Sep. 2013) data.

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

Matthias Hohner AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2013 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2013 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2013		Q: Sep. 2013
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	4.356	/	( ( (9.606 + max(17.283, 0))	+	(9.266 + max(19.742, 0)) )	/	2 )
=	4.356	/	( ( 26.889	+	29.008 )	/	2 )
=	4.356	/	27.9485
=	15.59 %

where Working Capital is:

	Working Capital		(Q: Mar. 2013 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	18.106	+	8.806)	-	(3.822	+	0	+	5.807)
=	17.283

	Working Capital		(Q: Sep. 2013 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(8.072	+	20.394	+	0.414)	-	(3.914	+	0	+	5.224)
=	19.742

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Sep. 2013) EBIT data.

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

Matthias Hohner AG's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2013 )
	=	3.729	/	36.570
	=	10.20 %

Matthias Hohner AG EBIT Related Terms

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Matthias Hohner AG (STU:HOH) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

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Address

Website

http://www.hohner.de

Matthias Hohner AG is engaged in the production, development and distribution of musical instruments. Its range of products includes harmonicas, recorders, accordions, guitars, grand pianos, digital pianos, amplifiers, melodicas and various accessories.

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