Vulcan Steel (ASX:VSL) EBIT: A$34.1 Mil (TTM As of Dec. 2025)


ASX:VSL Vulcan Steel Ltd ASX:VSL
60 GF Score
Price A$5.01
GF Value A$6.22
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Vulcan Steel EBIT?

Vulcan Steel ASX:VSL -0.60% 60 EBIT is A$34.1 Mil as of Dec. 2025. GuruFocus rates ASX:VSL with a GF Score™ of 60/100 and a GF Value™ of A$6.22 (Modestly Undervalued). The stock has 5 warning signs investors should review.

Vulcan Steel's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2025 was A$26.1 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was A$34.1 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Vulcan Steel's annualized ROC % for the quarter that ended in Dec. 2025 was 0.04%. Vulcan Steel's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 7.98%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Vulcan Steel's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 2.83%.

Vulcan Steel  (ASX:VSL) EBIT Explanation

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

Vulcan Steel'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 )
=0.356 * ( 1 - 29.18% )/( (647.058 + 742.211)/ 2 )
=0.2521192/694.6345
=0.04 %

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))
=795.959 - 132.798 - ( 16.103 - max(0, 160.686 - 449.653+16.103))
=647.058

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))
=937.748 - 170.646 - ( 24.891 - max(0, 201.293 - 484.651+24.891))
=742.211

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:

Vulcan Steel'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 )
=52.24/( ( (325.066 + max(301.839, 0)) + (393.915 + max(288.363, 0)) )/ 2 )
=52.24/( ( 626.905 + 682.278 )/ 2 )
=52.24/654.5915
=7.98 %

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)
=(121.459 + 309.505 + 4.333) - (132.798 + 0 + 0.66)
=301.839

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(127.775 + 326.799 + 5.186) - (170.646 + 0 + 0.75100000000003)
=288.363

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:

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2025 )
=34.076/1202.373
=2.83 %

* 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.

Vulcan Steel EBIT Related Terms

Vulcan Steel EBIT Historical Data

* Premium members only.

The historical data trend for Vulcan Steel'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.

Vulcan Steel EBIT Chart

Vulcan Steel Annual Data
Trend Jun22 Jun23 Jun24 Jun25
EBIT
167.78 134.49 76.06 37.73

Vulcan Steel Semi-Annual Data
Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
EBIT Get a 7-Day Free Trial Premium Member Only 55.15 21.22 29.15 7.96 26.12

ASX:VSL vs NUE, STLD, RS: EBIT Comparison

For the Steel subindustry, Vulcan Steel'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.

Vulcan Steel EV-to-EBIT vs Steel Industry

For the Steel industry and Basic Materials sector, Vulcan Steel's EV-to-EBIT distribution charts can be found below:

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


ASX:VSL
60GF Score
Vulcan Steel Ltd ASX:VSL
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Vulcan Steel 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$34.1 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$34.1 Mil mean?
Vulcan Steel (ASX:VSL) has a EBIT of A$34.1 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Vulcan Steel.
Is Vulcan Steel's EBIT too high?
Vulcan Steel's current EBIT is A$34.1 Mil. Overall, Vulcan Steel has a GF Score™ of 60/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Vulcan Steel's EBIT compare to NUE and STLD?
Vulcan Steel's EBIT of A$34.1 Mil can be compared against companies in the Steel 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 a Steel company?
A good EBIT depends on the Steel 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 Vulcan Steel. Vulcan Steel's current EBIT is A$34.1 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vulcan Steel stock overvalued right now?
Based on GuruFocus' analysis, Vulcan Steel (ASX:VSL) is currently considered Modestly Undervalued. The stock's GF Value™ is A$6.22, compared to a current price of A$5.01 — trading 19.5% below its estimated fair value. The current EBIT is A$34.1 Mil. Vulcan Steel's overall GF Score™ is 60/100 with 5 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 Vulcan Steel (ASX:VSL), the current EBIT is A$34.1 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 Vulcan Steel (ASX:VSL) Overvalued in 2026?

Based on GuruFocus' analysis, Vulcan Steel stock appears to be undervalued. The current stock price of A$5.01 is trading 19.5% below its estimated GF Value™ of A$6.22. GuruFocus considers Vulcan Steel to be Modestly Undervalued.

Key valuation signals for ASX:VSL:

  • EBIT: A$34.1 Mil
  • GF Value™: A$6.22 vs. price of A$5.01 (19.5% below fair value)
  • GF Score™: 60/100 with 5 warning signs

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

Vulcan Steel Business Description

Other Exchanges VSL:New Zealand
Address 29 Neales Road, East Tamaki, Auckland, NTL, NZL, 2013
Vulcan Steel Ltd is a metals distributor and processor. Its products include Steel, Stainless Steel, Engineering steel, Plate processing, and Coil processing. The company has two operating segments namely, the Steel business across New Zealand and Australia which includes Steel distribution, Plate processing, and Coil processing; and Metals business across New Zealand, which includes Stainless Steel, Engineering Steel, and Aluminium.
60GF Score

Get the complete analysis for ASX:VSL

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

A$5.01
Price
A$6.22
GF Value