Step One Clothing (ASX:STP) EBIT : A$14.20 Mil (TTM As of Dec. 2023)

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What is Step One Clothing EBIT?

Step One Clothing's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was A$10.56 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was A$14.20 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Step One Clothing's annualized ROC % for the quarter that ended in Dec. 2023 was 67.03%. Step One Clothing's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 158.79%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Step One Clothing's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 6.34%.

Step One Clothing EBIT Historical Data

The historical data trend for Step One Clothing'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.

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Step One Clothing EBIT Chart

Step One Clothing Annual Data

Trend

Jun21

Jun22

Jun23

EBIT

-0.05

11.11

Step One Clothing Semi-Annual Data
	Dec21	Jun22	Dec22	Jun23	Dec23
EBIT	-2.14	2.09	7.46	3.65	10.56

Competitive Comparison of Step One Clothing's EBIT

For the Apparel Retail subindustry, Step One Clothing'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.

Step One Clothing's EV-to-EBIT Distribution in the Retail - Cyclical Industry

For the Retail - Cyclical industry and Consumer Cyclical sector, Step One Clothing's EV-to-EBIT distribution charts can be found below:

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

Step One Clothing 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 A$14.20 Mil.

Step One Clothing (ASX:STP) EBIT Explanation

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

Step One Clothing'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 )
=	21.116 * ( 1 - 32.37% )	/	( (23.522	+	19.087)	/ 2 )
=	14.2807508	/	21.3045
=	67.03 %

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	))
=	66.124	-	4.289	-	( 38.313	-	max(0, 9.021	-	62.887	+	38.313	))
=	23.522

	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	))
=	67.928	-	4.906	-	( 43.935	-	max(0, 12.502	-	63.926	+	43.935	))
=	19.087

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:

Step One Clothing'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 )
=	21.116	/	( ( (0.074 + max(14.934, 0))	+	(0.571 + max(11.017, 0)) )	/	2 )
=	21.116	/	( ( 15.008	+	11.588 )	/	2 )
=	21.116	/	13.298
=	158.79 %

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)
=	(0	+	23.326	+	0.629)	-	(4.289	+	2.641	+	2.091)
=	14.934

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.043	+	17.574	+	1.374)	-	(4.906	+	2.022	+	2.046)
=	11.017

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:

Step One Clothing's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	14.204	/	223.881
	=	6.34 %

Step One Clothing EBIT Related Terms

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Step One Clothing (ASX:STP) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Retail - Cyclical » Step One Clothing Ltd (ASX:STP) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

J6H:Germany

Address

120 Chalmers Street, Surry Hills, Level 2, Sydney, NSW, AUS, 2010

Website

https://www.stepone.life

Step One Clothing Ltd is a direct-to-consumer online retailer for men's undergarments. Its products comprise Boxer Brief, Trunks, and Boxer Breif+Fly. The Group is organized into one operating segment: online retail sales.

Step One Clothing (ASX:STP) Headlines

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