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Ridley (ASX:RIC) EBIT

: A$66 Mil (TTM As of Dec. 2023)
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Ridley's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was A$34 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was A$66 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Ridley's annualized ROC % for the quarter that ended in Dec. 2023 was 7.77%. Ridley's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 23.46%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Ridley's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 8.46%.


Ridley EBIT Historical Data

The historical data trend for Ridley'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.

Ridley Annual Data
Trend Jun14 Jun15 Jun16 Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23
EBIT
Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 35.89 -10.31 39.18 62.82 63.73

Ridley Semi-Annual Data
Jun14 Dec14 Jun15 Dec15 Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
EBIT 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 Premium Member Only Premium Member Only Premium Member Only 33.06 29.76 31.27 32.45 33.95

Competitive Comparison

For the Packaged Foods subindustry, Ridley'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.


Ridley EV-to-EBIT Distribution

For the Consumer Packaged Goods industry and Consumer Defensive sector, Ridley's EV-to-EBIT distribution charts can be found below:

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



Ridley 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$66 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.


Ridley  (ASX:RIC) EBIT Explanation

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

Ridley'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 )
=41.894 * ( 1 - 29.21% )/( (369.489 + 393.386)/ 2 )
=29.6567626/381.4375
=7.77 %

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))
=617.701 - 205.189 - ( 43.023 - max(0, 224.985 - 283.787+43.023))
=369.489

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))
=628.257 - 195.975 - ( 38.896 - max(0, 219.784 - 283.656+38.896))
=393.386

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:

Ridley'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 )
=67.892/( ( (258.616 + max(20.165, 0)) + (268.089 + max(31.976, 0)) )/ 2 )
=67.892/( ( 278.781 + 300.065 )/ 2 )
=67.892/289.423
=23.46 %

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)
=(122.154 + 107.048 + 11.788) - (205.189 + 0 + 15.636)
=20.165

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(142.335 + 102.425 + 0) - (195.975 + 0.954 + 15.855)
=31.976

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:

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2023 )
=66.4/784.674
=8.46 %

* 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.


Ridley EBIT Related Terms

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Ridley (ASX:RIC) Business Description

Traded in Other Exchanges
Address
565 Bourke Street, Level 4, Melbourne, VIC, AUS, 3000
Ridley Corp Ltd engages in the production and marketing of stock feed and animal feed supplements. The company's operating segments include Bulk Stockfeeds and Packaged Feeds and Ingredients. The Bulk Stockfeeds segment comprises the Group's animal nutrition stockfeed solutions delivered in bulk. This includes monogastric and ruminant feeds, such as pellets, meals, concentrates, and premixes for poultry, pigs, dairy cattle, beef cattle, and sheep. Packaged Feeds and Ingredients segment comprises the Group's animal nutrition feed and ingredient solutions delivered in packaged form. This includes bagged poultry, dairy, dog, horse, and lifestyle animal feeds, as well as block and loose lick supplements; and aquafeed. It generates the majority of its revenue from the Bulk Stockfeeds segment.

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