BITE (Bite Acquisition) EBIT : $-2.66 Mil (TTM As of Mar. 2024)

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What is Bite Acquisition EBIT?

Bite Acquisition's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2024 was $-0.57 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2024 was $-2.66 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Bite Acquisition's annualized ROC % for the quarter that ended in Mar. 2024 was 1.62%. Bite Acquisition's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was %.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Bite Acquisition's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was -2.64%.

Bite Acquisition EBIT Historical Data

The historical data trend for Bite Acquisition'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.

Bite Acquisition EBIT Chart

Bite Acquisition Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

EBIT

-0.92

-1.33

-3.01

Bite Acquisition Quarterly Data
	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
EBIT	Get a 7-Day Free Trial									-0.91	-1.20	-0.49	-0.40	-0.57

Competitive Comparison of Bite Acquisition's EBIT

For the Shell Companies subindustry, Bite Acquisition'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.

Bite Acquisition's EV-to-EBIT Distribution in the Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, Bite Acquisition's EV-to-EBIT distribution charts can be found below:

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

Bite Acquisition 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 Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $-2.66 Mil.

Bite Acquisition (AMEX:BITE) EBIT Explanation

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

Bite Acquisition's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

	ROC % (Q: Mar. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Mar. 2024 ))	/ count )
=	-2.28 * ( 1 - 120.69% )	/	( (31.759	+	26.459)	/ 2 )
=	0.471732	/	29.109
=	1.62 %

where

	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	))
=	30.922	-	2.786	-	( 0.001	-	max(0, 3.71	-	0.087	+	0.001	))
=	31.759

	Invested Capital		(Q: Mar. 2024 )
=	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	))
=	25.607	-	2.941	-	( 0.004	-	max(0, 3.94	-	0.147	+	0.004	))
=	26.459

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

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

Bite Acquisition's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2023		Q: Mar. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-2.28	/	( ( (0 + max(-2.7, 0))	+	(0 + max(-2.799, 0)) )	/	2 )
=	-2.28	/	( ( 0	+	0 )	/	2 )
=	-2.28	/	0
=	%

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.086)	-	(2.786	+	0	+	0)
=	-2.7

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.143)	-	(2.941	+	0	+	0.00099999999999989)
=	-2.799

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2024 )
	=	-2.663	/	100.985
	=	-2.64 %

Bite Acquisition EBIT Related Terms

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Bite Acquisition Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Diversified Financial Services » Bite Acquisition Corp (AMEX:BITE) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

BITE.U:USA

Address

30 West Street, No. 28 F, New York, NY, USA, 10004

Website

https://www.biteacquisitioncorp.com

Bite Acquisition Corp is a blank check company.

Executives

Julia A Stewart	director	4551 WEST 107TH STREET STE 100, C/O APPLEBEES INTERNATIONAL INC, OVERLAND PARK KS 66207
Joseph C. Essa	director	C/O BITE ACQUISITION CORP., 30 WEST STREET, NO. 28F, NEW YORK NY 10004
Smart Dine, Llc	10 percent owner	30 WEST STREET, NO. 28F, NEW YORK NY 10004
Axel Molet Warschawski	officer: Chief Financial Officer	C/O BITE ACQUISITION CORP., 30 WEST STREET, NO. 28F, NEW YORK NY 10004
Randall Hiatt	director	C/O BITE ACQUISITION CORP., 30 WEST STREET, NO. 28F, NEW YORK NY 10004
Alberto Ardura Gonzalez	director, officer: Chief Executive Officer	C/O BITE ACQUISITION CORP., 30 WEST STREET, NO. 28F, NEW YORK NY 10004
Gomez Rafael Felipe De Jesus Aguirre	director	C/O BITE ACQUISITION CORP., 30 WEST STREET, NO. 28F, NEW YORK NY 10004

Bite Acquisition Headlines

From GuruFocus

Bite Acquisition Corp. Announces Amendment and Supplement to Definitive Proxy Statement

By PRNewswire PRNewswire • 12-05-2022

Bite Acquisition Corp. Announces Board Resignations

By PRNewswire PRNewswire • 01-03-2023

Bite Acquisition Corp. Announces Receipt of NYSE Continued Listing Standard Notice Stemming from SEC Guidance Concerning Accounting Treatment of Warrants

By Business Wire Business Wire • 06-02-2021

Bite Acquisition Corp. Announces Transfer to NYSE American

By PRNewswire PRNewswire • 02-09-2023