Black Sea Property (AQSE:BSP) EBIT : €5.69 Mil (TTM As of Jun. 2023)

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What is Black Sea Property EBIT?

Black Sea Property's earnings before interest and taxes (EBIT) for the six months ended in Jun. 2023 was €0.33 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2023 was €5.69 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Black Sea Property's annualized ROC % for the quarter that ended in Jun. 2023 was -1.31%. Black Sea Property's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2023 was 42.82%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Black Sea Property's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2023 was 16.95%.

Black Sea Property EBIT Historical Data

The historical data trend for Black Sea Property'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.

Black Sea Property EBIT Chart

Black Sea Property Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

EBIT

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3.08

5.09

1.04

3.08

5.02

Black Sea Property Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23
EBIT	Get a 7-Day Free Trial										-0.20	3.29	-0.34	5.36	0.33

Competitive Comparison of Black Sea Property's EBIT

For the Real Estate Services subindustry, Black Sea Property'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.

Black Sea Property's EV-to-EBIT Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Black Sea Property's EV-to-EBIT distribution charts can be found below:

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

Black Sea Property 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 Jun. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was €5.69 Mil.

Black Sea Property (AQSE:BSP) EBIT Explanation

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

Black Sea Property's annualized ROC % for the quarter that ended in Jun. 2023 is calculated as:

	ROC % (Q: Jun. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2022 )	+	Invested Capital (Q: Jun. 2023 ))	/ count )
=	-0.69 * ( 1 - 0% )	/	( (54.01	+	51.612)	/ 2 )
=	-0.69	/	52.811
=	-1.31 %

where

	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	))
=	55.056	-	0.807	-	( 0.239	-	max(0, 5.144	-	6.571	+	0.239	))
=	54.01

	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	))
=	53.348	-	1.351	-	( 0.385	-	max(0, 3.545	-	4.07	+	0.385	))
=	51.612

Note: The Operating Income data used here is two times the semi-annual (Jun. 2023) data.

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

Black Sea Property's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2022		Q: Jun. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	0.664	/	( ( (0.518 + max(1.025, 0))	+	(1.224 + max(0.334, 0)) )	/	2 )
=	0.664	/	( ( 1.543	+	1.558 )	/	2 )
=	0.664	/	1.5505
=	42.82 %

where Working Capital is:

	Working Capital		(Q: Dec. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.799	+	0	+	0.032999999999999)	-	(0.807	+	0	+	0)
=	1.025

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.614	+	0	+	0.071000000000001)	-	(1.351	+	0	+	0)
=	0.334

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2023) EBIT data.

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

Black Sea Property's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Jun. 2023 )
	=	5.691	/	33.571
	=	16.95 %

Black Sea Property EBIT Related Terms

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Black Sea Property (AQSE:BSP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Black Sea Property PLC (AQSE:BSP) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

Victory House, Prospect Hill, 6th Floor, Douglas, IMN, IM1 1EQ

Website

https://www.blackseapropertyplc.com

Black Sea Property PLC is a real estate company focused on investments in Bulgaria. It seeks to generate capital gains through development, financing and sale of property in Bulgaria, including the prime areas of Bulgaria's Black Sea coast, the ski resorts and the capital, Sofia. The Board is seeking to create a diverse portfolio of opportunistic and value-added Bulgarian real estate assets, including development land, partially completed construction projects and completed buildings.

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