MTR (MTCPY) EBIT : $1,478 Mil (TTM As of Dec. 2023)

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What is MTR EBIT?

MTR's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was $728 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $1,478 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. MTR's annualized ROC % for the quarter that ended in Dec. 2023 was 3.21%. MTR's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 7.72%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. MTR's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 6.08%.

MTR EBIT Historical Data

The historical data trend for MTR'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.

MTR EBIT Chart

MTR Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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1,973.09

-271.16

1,704.19

1,693.43

1,480.32

MTR Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
EBIT	Get a 7-Day Free Trial															1,165.15	931.18	754.75	750.29	727.80

Competitive Comparison of MTR's EBIT

For the Railroads subindustry, MTR'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.

MTR's EV-to-EBIT Distribution in the Transportation Industry

For the Transportation industry and Industrials sector, MTR's EV-to-EBIT distribution charts can be found below:

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

MTR 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 $1,478 Mil.

MTR (OTCPK:MTCPY) EBIT Explanation

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

MTR'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 )
=	1550.872 * ( 1 - 20.24% )	/	( (38151.538	+	39000.742)	/ 2 )
=	1236.9755072	/	38576.14
=	3.21 %

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	))
=	43626.452	-	10466.743	-	( 3058.343	-	max(0, 11022.852	-	6031.023	+	3058.343	))
=	38151.538

	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	))
=	44357.858	-	9709.34	-	( 2864.99	-	max(0, 10361.085	-	6008.861	+	2864.99	))
=	39000.742

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:

MTR'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 )
=	1455.608	/	( ( (18533.512 + max(-9524.959, 0))	+	(19168.865 + max(-8747.598, 0)) )	/	2 )
=	1455.608	/	( ( 18533.512	+	19168.865 )	/	2 )
=	1455.608	/	18851.1885
=	7.72 %

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)
=	(675.22	+	318.269	+	259.415)	-	(10466.743	+	0	+	311.12)
=	-9524.959

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(734.846	+	327.409	+	312.173)	-	(9709.34	+	0	+	412.686)
=	-8747.598

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:

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	1478.091	/	24324.014
	=	6.08 %

MTR EBIT Related Terms

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MTR (MTCPY) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » MTR Corp Ltd (OTCPK:MTCPY) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

MTRJF:USA 00066:Hong Kong MRI:Germany

Address

33 Wai Yip Street, MTR Headquarters Building, GPO Box 9916, Telford Plaza, Kowloon Bay, Kowloon, Hong Kong, HKG

Website

https://www.mtr.com.hk

MTR constructs and operates Hong Kong's rail network, giving it a monopoly position. In addition to rail operation, the firm makes recurring income from commercial business within the stations. This includes rental of retail outlets and advertisement within the station and investment properties in shopping malls above stations. Residential real estate development forms part of MTR's return for the rail operation. Average operating profit, in a normalized environment, is approximately 20% in rail operation, 60% in station commercial and property leasing business, and 20% in property development. The Hong Kong government owns 75% of MTR.