Hong Kong Exchanges and Clearing (Hong Kong Exchanges and Clearing) EBIT : $2,815 Mil (TTM As of Dec. 2023)

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What is Hong Kong Exchanges and Clearing EBIT?

Hong Kong Exchanges and Clearing's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $1,137 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $2,815 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Hong Kong Exchanges and Clearing's annualized ROC % for the quarter that ended in Dec. 2023 was 2.42%. Hong Kong Exchanges and Clearing's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 1,203.03%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Hong Kong Exchanges and Clearing's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 23.69%.

Hong Kong Exchanges and Clearing EBIT Historical Data

The historical data trend for Hong Kong Exchanges and Clearing'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.

Hong Kong Exchanges and Clearing EBIT Chart

Hong Kong Exchanges and Clearing Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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1,579.09

1,781.37

1,921.79

1,800.42

2,487.52

Hong Kong Exchanges and Clearing Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
EBIT	Get a 7-Day Free Trial															492.31	815.40	430.22	1,137.03	432.83

Competitive Comparison of Hong Kong Exchanges and Clearing's EBIT

For the Financial Data & Stock Exchanges subindustry, Hong Kong Exchanges and Clearing'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.

Hong Kong Exchanges and Clearing's EV-to-EBIT Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Hong Kong Exchanges and Clearing's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Hong Kong Exchanges and Clearing's EV-to-EBIT falls into.

Hong Kong Exchanges and Clearing 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 quarterly data reported by the company within the most recent 12 months, which was $2,815 Mil.

Hong Kong Exchanges and Clearing (OTCPK:HKXCY) EBIT Explanation

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

Hong Kong Exchanges and Clearing'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: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	963.404 * ( 1 - 8.9% )	/	( (36218.816	+	36236.523)	/ 2 )
=	877.661044	/	36227.6695
=	2.42 %

where

	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	))
=	43748.1	-	4036.022	-	( 29760.107	-	max(0, 37085.521	-	40578.783	+	29760.107	))
=	36218.816

	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	))
=	43686.01	-	3647.725	-	( 28771.287	-	max(0, 36686.087	-	40487.849	+	28771.287	))
=	36236.523

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

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

Hong Kong Exchanges and Clearing'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: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	4548.132	/	( ( (369.292 + max(-26179.983, 0))	+	(386.822 + max(-24934.953, 0)) )	/	2 )
=	4548.132	/	( ( 369.292	+	386.822 )	/	2 )
=	4548.132	/	378.057
=	1,203.03 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3881.203	+	0	+	6937.473)	-	(4036.022	+	0	+	32962.637)
=	-26179.983

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4265.538	+	0	+	7451.024)	-	(3647.725	+	0	+	33003.79)
=	-24934.953

When net working capital is negative, 0 is used.

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

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

Hong Kong Exchanges and Clearing's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	2815.478	/	11884.892
	=	23.69 %

Hong Kong Exchanges and Clearing EBIT Related Terms

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Hong Kong Exchanges and Clearing (Hong Kong Exchanges and Clearing) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Hong Kong Exchanges and Clearing Ltd (OTCPK:HKXCY) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

HKXCF:USA 00388:Hong Kong HK2C:Germany

Address

8 Connaught Place, 8th Floor, Two Exchange Square, Central, Hong Kong, HKG

Website

https://www.hkexgroup.com

Hong Kong Exchanges and Clearing is a vertically integrated securities exchange business offering listing, data, trading, clearing and settlement services across equities, debt and derivatives. HKEx, like Hong Kong itself, functions as a gateway between China and the rest of the world. HKEx serves as a preferred listing venue for Chinese companies outside of China and, through the Connect Scheme, offers two-way trading for a growing group of financial products with the Shanghai Stock Exchange and the Shenzhen Stock Exchange.