AREIT Prop (JSE:APO) EBIT : R39.59 Mil (TTM As of Dec. 2022)

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What is AREIT Prop EBIT?

AREIT Prop's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2022 was R-16.92 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2022 was R39.59 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. AREIT Prop's annualized ROC % for the quarter that ended in Dec. 2022 was 3.02%. AREIT Prop's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2022 was -1,403.42%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. AREIT Prop's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2022 was 13.24%.

AREIT Prop EBIT Historical Data

The historical data trend for AREIT Prop'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.

AREIT Prop EBIT Chart

AREIT Prop Annual Data

Trend

Dec21

Dec22

EBIT

39.60

AREIT Prop Quarterly Data
	Mar22	Jun22	Sep22	Dec22
EBIT	17.05	14.86	24.60	-16.92

Competitive Comparison of AREIT Prop's EBIT

For the REIT - Diversified subindustry, AREIT Prop'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.

AREIT Prop's EV-to-EBIT Distribution in the REITs Industry

For the REITs industry and Real Estate sector, AREIT Prop's EV-to-EBIT distribution charts can be found below:

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

AREIT Prop 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 Dec. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was R39.59 Mil.

AREIT Prop (JSE:APO) EBIT Explanation

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

AREIT Prop's annualized ROC % for the quarter that ended in Dec. 2022 is calculated as:

	ROC % (Q: Dec. 2022 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2022 )	+	Invested Capital (Q: Dec. 2022 ))	/ count )
=	28.328 * ( 1 - 0% )	/	( (950.175	+	923.521)	/ 2 )
=	28.328	/	936.848
=	3.02 %

where

	Invested Capital		(Q: Sep. 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	))
=	950.717	-	0.54	-	( 0.002	-	max(0, 0.54	-	10.187	+	0.002	))
=	950.175

	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	))
=	923.955	-	0.433	-	( 0.001	-	max(0, 0.433	-	10.037	+	0.001	))
=	923.521

Note: The Operating Income data used here is four times the quarterly (Dec. 2022) data.

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

AREIT Prop's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2022 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2022 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2022		Q: Dec. 2022
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-67.68	/	( ( (0 + max(9.645, 0))	+	(0 + max(-0.375, 0)) )	/	2 )
=	-67.68	/	( ( 9.645	+	0 )	/	2 )
=	-67.68	/	4.8225
=	-1,403.42 %

where Working Capital is:

	Working Capital		(Q: Sep. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(10.185	+	0	+	-1.7763568394003E-15)	-	(0.54	+	0	+	0)
=	9.645

	Working Capital		(Q: Dec. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.058000000000002)	-	(0.433	+	0	+	0)
=	-0.375

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2022) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2022 )
	=	39.594	/	298.999
	=	13.24 %

AREIT Prop EBIT Related Terms

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AREIT Prop (JSE:APO) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » AREIT Prop Ltd (JSE:APO) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

Cape Town, Cape Town, ZAF

Website

http://www.areitprop.co.za

AREIT Prop Ltd is a property group holding leasehold properties focused on the hospitality and medical sector, allowing investors to gain exposure to the property ?market without the exposure to property-related expenses, risks, and debt.