Deterra Royalties (ASX:DRR) EBIT : A$242.1 Mil (TTM As of Dec. 2023)

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What is Deterra Royalties EBIT?

Deterra Royalties's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was A$114.1 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was A$242.1 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Deterra Royalties's annualized ROC % for the quarter that ended in Dec. 2023 was 199.80%. Deterra Royalties's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 325.87%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Deterra Royalties's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 9.50%.

Deterra Royalties EBIT Historical Data

The historical data trend for Deterra Royalties'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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Deterra Royalties EBIT Chart

Deterra Royalties Annual Data

Trend

Jun21

Jun22

Jun23

EBIT

141.90

256.60

220.21

Deterra Royalties Semi-Annual Data
	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
EBIT	Get a 7-Day Free Trial			88.60	168.00	92.13	128.08	114.07

Competitive Comparison of Deterra Royalties's EBIT

For the Other Industrial Metals & Mining subindustry, Deterra Royalties'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.

Deterra Royalties's EV-to-EBIT Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Deterra Royalties's EV-to-EBIT distribution charts can be found below:

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

Deterra Royalties 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. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was A$242.1 Mil.

Deterra Royalties (ASX:DRR) EBIT Explanation

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

Deterra Royalties's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	226.348 * ( 1 - 29.98% )	/	( (83.214	+	75.437)	/ 2 )
=	158.4888696	/	79.3255
=	199.80 %

where

	Invested Capital		(Q: Jun. 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	))
=	113.473	-	0.768	-	( 29.491	-	max(0, 0.968	-	103.773	+	29.491	))
=	83.214

	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	))
=	100.725	-	0.35	-	( 24.938	-	max(0, 0.596	-	91.311	+	24.938	))
=	75.437

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

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

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

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	228.132	/	( ( (0.27 + max(73.189, 0))	+	(0.69 + max(65.864, 0)) )	/	2 )
=	228.132	/	( ( 73.459	+	66.554 )	/	2 )
=	228.132	/	70.0065
=	325.87 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(72.909	+	0	+	1.178)	-	(0.768	+	0	+	0.13)
=	73.189

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(62.888	+	0	+	3.485)	-	(0.35	+	0	+	0.159)
=	65.864

When net working capital is negative, 0 is used.

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

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	242.148	/	2550.122
	=	9.50 %

Deterra Royalties EBIT Related Terms

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Deterra Royalties (ASX:DRR) Business Description

Industry

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DETRF:USA

Address

140 St Georges Terrace, Level 16, Perth, WA, AUS, 6000

Website

https://www.iluka.com

Deterra Royalties was spun out from Iluka Resources in October 2020 with Iluka retaining a 20% interest. Its only material income generating asset is a royalty covering iron ore produced by BHP from the Mining Area C royalty area, located in the Pilbara region of Western Australia. The royalty area includes the North Flank mine, producing approximately 60 million metric tons of iron ore a year, and the South Flank mine, expected to add a further 85 million metric tons a year by 2024 after producing first ore in 2021. The MAC royalty area also covers most of the Tandanya and Mudlark deposits, which BHP intends to develop in the longer term as part of its plan to operate the MAC production hub for at least 50 years. Deterra's strategy is to grow into a diversified royalty company.