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Invacare (Invacare) EBIT : $-84.0 Mil (TTM As of Mar. 2023)


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What is Invacare EBIT?

Invacare's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2023 was $-31.1 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2023 was $-84.0 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Invacare's annualized ROC % for the quarter that ended in Mar. 2023 was -7.71%. Invacare's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2023 was -86.95%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Invacare's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2023 was -22.83%.


Invacare EBIT Historical Data

The historical data trend for Invacare'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.

Invacare EBIT Chart

Invacare Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only -5.77 -14.95 4.06 -14.81 -69.48

Invacare Quarterly Data
Jun18 Sep18 Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -16.63 -14.79 -26.08 -11.98 -31.14

Competitive Comparison of Invacare's EBIT

For the Medical Instruments & Supplies subindustry, Invacare'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.


Invacare's EV-to-EBIT Distribution in the Medical Devices & Instruments Industry

For the Medical Devices & Instruments industry and Healthcare sector, Invacare's EV-to-EBIT distribution charts can be found below:

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



Invacare 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. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-84.0 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.


Invacare  (OTCPK:IVCRQ) EBIT Explanation

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

Invacare's annualized ROC % for the quarter that ended in Mar. 2023 is calculated as:

ROC % (Q: Mar. 2023 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2022 ) + Invested Capital (Q: Mar. 2023 ))/ count )
=-39.86 * ( 1 - -2.34% )/( (505.001 + 553.799)/ 2 )
=-40.792724/529.4
=-7.71 %

where

Invested Capital(Q: Dec. 2022 )
=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))
=770.969 - 207.176 - ( 58.792 - max(0, 220.135 - 299.318+58.792))
=505.001

Invested Capital(Q: Mar. 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))
=762.116 - 142.033 - ( 66.284 - max(0, 195.896 - 285.788+66.284))
=553.799

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

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

Invacare's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2023 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2023 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2022  Q: Mar. 2023
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-124.544/( ( (118.542 + max(-0.47599999999997, 0)) + (118.434 + max(49.497, 0)) )/ 2 )
=-124.544/( ( 118.542 + 167.931 )/ 2 )
=-124.544/143.2365
=-86.95 %

where Working Capital is:

Working Capital(Q: Dec. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(87.952 + 112.561 + 12.466) - (207.176 + 2.279 + 4)
=-0.47599999999997

Working Capital(Q: Mar. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(82.659 + 103.635 + 16.139) - (142.033 + 1.507 + 9.396)
=49.497

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2023) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2023 )
=-83.992/367.826
=-22.83 %

* 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.


Invacare EBIT Related Terms

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Invacare (Invacare) Business Description

Traded in Other Exchanges
N/A
Address
One Invacare Way, Elyria, OH, USA, 44035-4190
Invacare Corp makes and distributes medical equipment used in non-acute care settings. Its products are primarily sold to home medical equipment providers, residential living operators, distributors, and government health services. The firm sells products in three categories: mobility and seating, lifestyle, and respiratory therapy. Its mobility and seating products include power wheelchairs, custom manual wheelchairs, and positioning cushions. Its lifestyle products include manual wheelchairs, crutches, walkers, and homecare beds. Its respiratory products include stationary and portable oxygen concentrators and non-delivery oxygen technology. Invacare receives the largest proportion of revenue from sales in Europe.
Executives
Tenor Opportunity Master Fund, Ltd. 10 percent owner 810 SEVENTH AVENUE, SUITE 1905, NEW YORK NY 10019
Randel G Owen director C/O EMERGENCY MEDICAL SERVICES CORP, 6200 SOUTH SYRACUSE WAY, GREENWOOD VILLAGE CO 80111
Kimberly Herman director 3 HUNTINGTON QUADRANGLE, STE 25, MELVILLE NY 11747
Marec Elden Edgar director 1420 KENSINGTON ROAD, SUITE 220, OAK BROOK IL 60523
Elliot Bossen 10 percent owner 3100 TOWER BLVD, UNIVERSITY TOWER STE 1104, DURHAM NC 27707
Silverback Asset Management Llc 10 percent owner 1414 RALEIGH ROAD, SUITE 250, CHAPEL HILL NC 27517
Peter J. Kuipers director 590 E. MIDDLEFEILD ROAD, MOUNTAIN VIEW CA 94043
Tenor Capital Management Co., L.p. 10 percent owner 810 SEVENTH AVENUE, SUITE 1905, NEW YORK NY 10019
Pm Manager Fund, Spc-segregated Portfolio 33 10 percent owner 190 ELGIN AVE, GEORGE TOWN, GRAND CAYMAN E9 KYI-9005
Dov Gertzulin 10 percent owner C/O DG CAPITAL MANAGEMENT, LLC, 460 PARK AVENUE, 22ND FLOOR, NEW YORK NY 10022
Dg Capital Management, Llc 10 percent owner 460 PARK AVENUE, 22ND FLOOR, NEW YORK NY 10022
Endurant Capital Management Lp 10 percent owner 66 BOVET ROAD, SUITE 353, SAN MATEO CA 94402
Abraham T Han director 51 MIDLAND AVENUE, WYCKOFF NJ 07481
Dg Value Partners Ii Master Fund, Lp 10 percent owner 460 PARK AVENUE, 22ND FLOOR, NEW YORK NY 10022
Quang Minh Pham 10 percent owner 66 BOVET ROAD, SUITE 353, SAN MATEO CA 94402