Honma Golf (HKSE:06858) EBIT : HK$223 Mil (TTM As of Sep. 2023)

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What is Honma Golf EBIT?

Honma Golf's earnings before interest and taxes (EBIT) for the six months ended in Sep. 2023 was HK$198 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2023 was HK$223 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Honma Golf's annualized ROC % for the quarter that ended in Sep. 2023 was 14.32%. Honma Golf's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was 43.30%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Honma Golf's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was 13.54%.

Honma Golf EBIT Historical Data

The historical data trend for Honma Golf'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.

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Honma Golf EBIT Chart

Honma Golf Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

EBIT

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396.84

-20.81

178.34

503.15

247.67

Honma Golf Semi-Annual Data
	Mar14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
EBIT	Get a 7-Day Free Trial														126.56	384.94	207.14	25.65	197.66

Competitive Comparison of Honma Golf's EBIT

For the Leisure subindustry, Honma Golf'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.

Honma Golf's EV-to-EBIT Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Honma Golf's EV-to-EBIT distribution charts can be found below:

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

Honma Golf 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. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was HK$223 Mil.

Honma Golf (HKSE:06858) EBIT Explanation

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

Honma Golf's annualized ROC % for the quarter that ended in Sep. 2023 is calculated as:

	ROC % (Q: Sep. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2023 )	+	Invested Capital (Q: Sep. 2023 ))	/ count )
=	185.35 * ( 1 - 8.42% )	/	( (1288.829	+	1082.503)	/ 2 )
=	169.74353	/	1185.666
=	14.32 %

where

	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	))
=	2370.351	-	254.471	-	( 827.051	-	max(0, 712.533	-	1888.35	+	827.051	))
=	1288.829

	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	))
=	2216.704	-	252.044	-	( 882.157	-	max(0, 626.547	-	1776.144	+	882.157	))
=	1082.503

Note: The Operating Income data used here is two times the semi-annual (Sep. 2023) data.

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

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

	ROC (Joel Greenblatt) %		(Q: Sep. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2023		Q: Sep. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	395.316	/	( ( (323.168 + max(673.914, 0))	+	(300.33 + max(528.339, 0)) )	/	2 )
=	395.316	/	( ( 997.082	+	828.669 )	/	2 )
=	395.316	/	912.8755
=	43.30 %

where Working Capital is:

	Working Capital		(Q: Mar. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(200.58	+	722.093	+	5.712)	-	(254.471	+	0	+	0)
=	673.914

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(181.695	+	592.875	+	5.8129999999999)	-	(252.044	+	0	+	0)
=	528.339

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Sep. 2023) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2023 )
	=	223.304	/	1649.822
	=	13.54 %

Honma Golf EBIT Related Terms

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Honma Golf (HKSE:06858) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » Honma Golf Ltd (HKSE:06858) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

35th Floor, Roppongi Hills, Mori Tower, P.O. Box No. 62, 6-10-1, Roppongi, Minatoku, Tokyo, JPN

Website

https://www.honmagolf.com

Honma Golf Ltd is an investment holding company. It is engaged in the design, manufacturing, and sale of golf-related products and the rendering of services relating to such products. Geographically, it derives a majority of revenue from Japan and also has a presence in Korea, China, North America, Europe, and the Rest of the world. The group currently offers golf clubs mainly under three major product families, namely BERES, TOUR WORLD and Be ZEAL.

Executives

Huang Wenhuan	2202 Interest of your spouse
Liu Jianguo	2307 Founder of a discretionary trust who can infl
Kouunn Holdings Limited	2101 Beneficial owner
Gold Genius Development Limited	2106 Person having a security interest in shares
Splendid Steed Investments Limited	2201 Interest of corporation controlled by you
Ma Jianrong	2201 Interest of corporation controlled by you
Vistra Trust (hong Kong) Limited	2301 Trustee
Charoen Pokphand Group Company Limited	2201 Interest of corporation controlled by you
Dazzling Coast Limited	2201 Interest of corporation controlled by you
Prize Ray Limited	2201 Interest of corporation controlled by you
Itochu Corporation	2101 Beneficial owner
Yuanta Financial Holding Co., Ltd	2201 Interest of corporation controlled by you

Honma Golf (HKSE:06858) Headlines

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