3SBio (TRSBF) EBIT : $306 Mil (TTM As of Dec. 2023)

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What is 3SBio EBIT?

3SBio's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was $127 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $306 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. 3SBio's annualized ROC % for the quarter that ended in Dec. 2023 was 10.43%. 3SBio's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 33.52%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. 3SBio's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 17.35%.

3SBio EBIT Historical Data

The historical data trend for 3SBio'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.

3SBio EBIT Chart

3SBio Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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189.98

162.13

303.85

341.72

306.82

3SBio 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															137.71	172.29	176.26	179.15	127.14

Competitive Comparison of 3SBio's EBIT

For the Biotechnology subindustry, 3SBio'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.

3SBio's EV-to-EBIT Distribution in the Biotechnology Industry

For the Biotechnology industry and Healthcare sector, 3SBio's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where 3SBio's EV-to-EBIT falls into.

3SBio 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 $306 Mil.

3SBio (OTCPK:TRSBF) EBIT Explanation

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

3SBio'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 )
=	316.592 * ( 1 - 23.53% )	/	( (2184.757	+	2457.322)	/ 2 )
=	242.0979024	/	2321.0395
=	10.43 %

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	))
=	3235.389	-	118.895	-	( 931.737	-	max(0, 497.059	-	1431.467	+	931.737	))
=	2184.757

	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	))
=	3308.735	-	86.018	-	( 839.101	-	max(0, 522.06	-	1287.455	+	839.101	))
=	2457.322

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:

3SBio'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 )
=	254.282	/	( ( (652.806 + max(89.841, 0))	+	(721.804 + max(52.817, 0)) )	/	2 )
=	254.282	/	( ( 742.647	+	774.621 )	/	2 )
=	254.282	/	758.634
=	33.52 %

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)
=	(175.785	+	103.335	+	27.173)	-	(118.895	+	0	+	97.557)
=	89.841

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(141.409	+	108.896	+	27.474)	-	(86.018	+	0	+	138.944)
=	52.817

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:

3SBio's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	306.288	/	1765.502
	=	17.35 %

3SBio EBIT Related Terms

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3SBio (TRSBF) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Biotechnology » 3SBio Inc (OTCPK:TRSBF) » Definitions » EBIT

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01530:Hong Kong 83B:Germany

Address

No. 3 A1, Road 10, Shenyang Economy and Technology Development Zone, Shenyang, CHN, 110027

Website

https://www.3sbio.com

3SBio Inc, or 3SBio, is one of the largest and most established biotech drugmakers in China. In 2021, it reported revenue of CNY 6.3 billion. Approximately 90% of its revenue is derived from four core drugs: TPIAO (rhTPO), Yisaipu (biosimilar of etanercept, a TNF-alpha inhibitor), rhEPO, and Mandi (minoxidil). With the exception of minoxidil, an over-the-counter drug, the others are all older generation biologics. Most of the pipeline candidates are "me-too" drugs and in general are still at an early stage.

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