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China Tianying (SZSE:000035) EBIT : ¥775 Mil (TTM As of Sep. 2023)


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What is China Tianying EBIT?

China Tianying's earnings before interest and taxes (EBIT) for the three months ended in Sep. 2023 was ¥285 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2023 was ¥775 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. China Tianying's annualized ROC % for the quarter that ended in Sep. 2023 was 3.92%. China Tianying's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was 32.74%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. China Tianying's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was 4.23%.


China Tianying EBIT Historical Data

The historical data trend for China Tianying'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.

China Tianying EBIT Chart

China Tianying Annual Data
Trend Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 423.39 1,536.01 2,145.55 1,916.96 501.47

China Tianying Quarterly Data
Dec18 Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23
EBIT Get a 7-Day Free Trial 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 106.05 132.50 149.19 208.57 285.14

Competitive Comparison of China Tianying's EBIT

For the Waste Management subindustry, China Tianying'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.


China Tianying's EV-to-EBIT Distribution in the Waste Management Industry

For the Waste Management industry and Industrials sector, China Tianying's EV-to-EBIT distribution charts can be found below:

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



China Tianying 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 Sep. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was ¥775 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.


China Tianying  (SZSE:000035) EBIT Explanation

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

China Tianying's annualized ROC % for the quarter that ended in Sep. 2023 is calculated as:

ROC % (Q: Sep. 2023 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2023 ) + Invested Capital (Q: Sep. 2023 ))/ count )
=1114.828 * ( 1 - 8.29% )/( (26107.413 + 26085.388)/ 2 )
=1022.4087588/26096.4005
=3.92 %

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))
=27815.445 - 3240.44 - ( 2464.962 - max(0, 7866.245 - 6333.837+2464.962))
=26107.413

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))
=27627.097 - 3438.631 - ( 1797.095 - max(0, 7824.729 - 5927.807+1797.095))
=26085.388

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

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

China Tianying's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 is calculated as:

ROC (Joel Greenblatt) %(Q: Sep. 2023 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2023  Q: Sep. 2023
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1140.564/( ( (3380.803 + max(-102.516, 0)) + (3585.579 + max(-47.681, 0)) )/ 2 )
=1140.564/( ( 3380.803 + 3585.579 )/ 2 )
=1140.564/3483.191
=32.74 %

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)
=(2466.637 + 413.641 + 786.633) - (3240.44 + 0 + 528.987)
=-102.516

Working Capital(Q: Sep. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(2581.996 + 404.364 + 932.886) - (3438.631 + 0 + 528.296)
=-47.681

When net working capital is negative, 0 is used.

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

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

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Sep. 2023 )
=775.407/18333.247
=4.23 %

* 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.


China Tianying EBIT Related Terms

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China Tianying (SZSE:000035) Business Description

Traded in Other Exchanges
N/A
Address
No.1535,Hongmei Road, Build 2,Xinglian TehBuilding, Xuhui District, Shanghai, CHN
China Tianying Inc is an environmental protection and new energy enterprise. The company is engaged in the investment, build, operation and maintenance of MSW incineration power generation and steam manufacture, sludge treatment, food waste treatment, hazardous waste treatment, construction waste treatment, wastewater treatment and others.

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