PJSC Mining & Metallurgical Co Norilsk Nickel (WBO:MNOD) EBIT

: €8,722 Mil (TTM As of Dec. 2022)

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PJSC Mining & Metallurgical Co Norilsk Nickel's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2022 was €3,395 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2022 was €8,722 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. PJSC Mining & Metallurgical Co Norilsk Nickel's annualized ROC % for the quarter that ended in Dec. 2022 was 36.20%. PJSC Mining & Metallurgical Co Norilsk Nickel's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2022 was 34.22%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. PJSC Mining & Metallurgical Co Norilsk Nickel's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2022 was 23.52%.

PJSC Mining & Metallurgical Co Norilsk Nickel EBIT Historical Data

The historical data trend for PJSC Mining & Metallurgical Co Norilsk Nickel'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.

PJSC Mining & Metallurgical Co Norilsk Nickel Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

EBIT

3,853.71

7,166.91

4,044.14

8,423.34

8,866.94

PJSC Mining & Metallurgical Co Norilsk Nickel Semi-Annual Data
	Jun13	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22
EBIT																3,777.09	4,464.99	3,690.24	5,326.72	3,395.49

PJSC Mining & Metallurgical Co Norilsk Nickel 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. 2022 adds up the semi-annually data reported by the company within the most recent 12 months, which was €8,722 Mil.

PJSC Mining & Metallurgical Co Norilsk Nickel (WBO:MNOD) EBIT Explanation

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

PJSC Mining & Metallurgical Co Norilsk Nickel's annualized ROC % for the quarter that ended in Dec. 2022 is calculated as:

	ROC % (Q: Dec. 2022 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2022 )	+	Invested Capital (Q: Dec. 2022 ))	/ count )
=	10161.77 * ( 1 - 17.08% )	/	( (21869.388	+	24678.15)	/ 2 )
=	8426.139684	/	23273.769
=	36.20 %

where

	Invested Capital		(Q: Jun. 2022 )
=	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	))
=	24318.955	-	2120.591	-	( 1614.111	-	max(0, 7008.681	-	7337.657	+	1614.111	))
=	21869.388

	Invested Capital		(Q: Dec. 2022 )
=	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	))
=	27986.916	-	2533.344	-	( 2041.585	-	max(0, 8344.158	-	9119.58	+	2041.585	))
=	24678.15

Note: The Operating Income data used here is two times the semi-annual (Dec. 2022) data.

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

PJSC Mining & Metallurgical Co Norilsk Nickel's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2022 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2022 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2022		Q: Dec. 2022
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	6790.97	/	( ( (15992.794 + max(2612.872, 0))	+	(17645.457 + max(3441.574, 0)) )	/	2 )
=	6790.97	/	( ( 18605.666	+	21087.031 )	/	2 )
=	6790.97	/	19846.3485
=	34.22 %

where Working Capital is:

	Working Capital		(Q: Jun. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(546.715	+	4297.984	+	878.847)	-	(2120.591	+	0	+	990.083)
=	2612.872

	Working Capital		(Q: Dec. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(732.711	+	5365.9	+	979.384)	-	(2533.344	+	0	+	1103.077)
=	3441.574

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2022) EBIT data.

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

PJSC Mining & Metallurgical Co Norilsk Nickel's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2022 )
	=	8722.209	/	37077.211
	=	23.52 %

PJSC Mining & Metallurgical Co Norilsk Nickel EBIT Related Terms

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PJSC Mining & Metallurgical Co Norilsk Nickel (WBO:MNOD) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » PJSC Mining & Metallurgical Co Norilsk Nickel (WBO:MNOD) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

15, 1st Krasnogvardeysky Drive, Moscow, RUS, 123100

Website

https://www.nornickel.com

PJSC Mining & Metallurgical Co Norilsk Nickel is a metal and mining company engaged in activities such as exploration, extraction, refining of ore and nonmetallic minerals, and sale of base and precious minerals. The company is organized into seven operating business segments: GMK Group, South Cluster, KGMK Group, NN Harjavalta, GRK Bystrinskoye, other mining, and other nonmetallurgical. The majority of the company's revenue is derived from the GMK Group segment which includes mining, processing and other metallurgy operations, and sale of precious metals. More than half the company's consolidated revenue is earned from the sale of metals to customers in Europe.

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