Qualitas (ASX:QAL) EBIT: A$55.1 Mil (TTM As of Dec. 2025)


ASX:QAL Qualitas Ltd ASX:QAL
63 GF Score
Price A$2.93
GF Value A$3.18
Valuation Fairly Valued
! 2 Warning Signs
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What is Qualitas EBIT?

Qualitas ASX:QAL +2.09% 63 EBIT is A$55.1 Mil as of Dec. 2025. GuruFocus rates ASX:QAL with a GF Score™ of 63/100 and a GF Value™ of A$3.18 (Fairly Valued). The stock has 2 warning signs investors should review.

Qualitas's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2025 was A$30.2 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was A$55.1 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Qualitas's annualized ROC % for the quarter that ended in Dec. 2025 was 10.41%. Qualitas's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 88.06%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Qualitas's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 6.10%.

Qualitas  (ASX:QAL) EBIT Explanation

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

Qualitas's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=54.81 * ( 1 - 30.13% )/( (308.988 + 426.958)/ 2 )
=38.295747/367.973
=10.41 %

where

Invested Capital(Q: Jun. 2025 )
=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))
=481.745 - 22.266 - ( 150.491 - max(0, 45.85 - 234.898+150.491))
=308.988

Invested Capital(Q: Dec. 2025 )
=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))
=473.343 - 13.189 - ( 33.196 - max(0, 88.547 - 173.823+33.196))
=426.958

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

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

Qualitas's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=60.35/( ( (14.764 + max(3.096, 0)) + (13.754 + max(105.457, 0)) )/ 2 )
=60.35/( ( 17.86 + 119.211 )/ 2 )
=60.35/68.5355
=88.06 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(18.558 + 27.188 + 1.583) - (22.266 + 1.758 + 20.209)
=3.096

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(30.266 + 0 + 110.361) - (13.189 + 0 + 21.981)
=105.457

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2025 )
=55.144/903.355
=6.10 %

* 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.

Qualitas EBIT Related Terms

Qualitas EBIT Historical Data

* Premium members only.

The historical data trend for Qualitas'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.

Qualitas EBIT Chart

Qualitas Annual Data
Trend Jun21 Jun22 Jun23 Jun24 Jun25
EBIT
0.00 20.55 52.20 57.70 55.50

Qualitas Semi-Annual Data
Jun21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
EBIT Get a 7-Day Free Trial Premium Member Only 28.85 28.85 30.54 24.97 30.18

ASX:QAL vs BLK, BX, KKR: EBIT Comparison

For the Asset Management subindustry, Qualitas'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.

Qualitas EV-to-EBIT vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Qualitas's EV-to-EBIT distribution charts can be found below:

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


ASX:QAL
63GF Score
Qualitas Ltd ASX:QAL
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Qualitas 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. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was A$55.1 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of A$55.1 Mil mean?
Qualitas (ASX:QAL) has a EBIT of A$55.1 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Qualitas.
Is Qualitas' EBIT too high?
Qualitas' current EBIT is A$55.1 Mil. Overall, Qualitas has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Qualitas' EBIT compare to BLK and BX?
Qualitas' EBIT of A$55.1 Mil can be compared against companies in the Asset Management industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for an Asset Management company?
A good EBIT depends on the Asset Management industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Qualitas. Qualitas's current EBIT is A$55.1 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Qualitas stock overvalued right now?
Based on GuruFocus' analysis, Qualitas (ASX:QAL) is currently considered Fairly Valued. The stock's GF Value™ is A$3.18, compared to a current price of A$2.93 — trading 7.9% below its estimated fair value. The current EBIT is A$55.1 Mil. Qualitas' overall GF Score™ is 63/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Qualitas (ASX:QAL), the current EBIT is A$55.1 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Qualitas (ASX:QAL) Overvalued in 2026?

Based on GuruFocus' analysis, Qualitas stock appears to be undervalued. The current stock price of A$2.93 is trading 7.9% below its estimated GF Value™ of A$3.18. GuruFocus considers Qualitas to be Fairly Valued.

Key valuation signals for ASX:QAL:

  • EBIT: A$55.1 Mil
  • GF Value™: A$3.18 vs. price of A$2.93 (7.9% below fair value)
  • GF Score™: 63/100 with 2 warning signs

No single metric tells the full story. See the ASX:QAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Qualitas Business Description

Address 120 Collins Street, Level 38, Melbourne, VIC, AUS, 3000
Qualitas Ltd is an alternative real estate investment manager focused on private credit and equity across commercial real estate sectors. The Group has identified two operating segments Funds Management and Direct Lending. Maximum revenue is generated from its Funds Management segment which includes all of its core Funds management activities and includes Funds management fees, performance fees, and other fee income. It also includes dividends and distributions from Qualitas' Investment and Direct Lending activities. The Direct Lending segment relates to the interest income and expenses relating to activities undertaken by the company's subsidiaries.
63GF Score

Get the complete analysis for ASX:QAL

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

A$2.93
Price
A$3.18
GF Value