Thai Wah Starch (BKK:TWS) EBIT : ฿538 Mil (TTM As of Jun. 2015)

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What is Thai Wah Starch EBIT?

Thai Wah Starch's earnings before interest and taxes (EBIT) for the three months ended in Jun. 2015 was ฿203 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2015 was ฿538 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Thai Wah Starch's annualized ROC % for the quarter that ended in Jun. 2015 was 35.27%. Thai Wah Starch's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2015 was 80.27%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Thai Wah Starch's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2015 was 25.73%.

Thai Wah Starch EBIT Historical Data

The historical data trend for Thai Wah Starch'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.

Thai Wah Starch EBIT Chart

Thai Wah Starch Annual Data

Trend

Dec05

Dec06

Dec07

Dec08

Dec09

Dec10

Dec11

Dec12

Dec13

Dec14

EBIT

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974.22

1,708.49

271.78

325.43

358.51

Thai Wah Starch Quarterly Data
	Sep10	Dec10	Mar11	Jun11	Sep11	Dec11	Mar12	Jun12	Sep12	Dec12	Mar13	Jun13	Sep13	Dec13	Mar14	Jun14	Sep14	Dec14	Mar15	Jun15
EBIT	Get a 7-Day Free Trial															145.21	97.40	115.91	122.14	202.92

Competitive Comparison of Thai Wah Starch's EBIT

For the Farm Products subindustry, Thai Wah Starch'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.

Thai Wah Starch's EV-to-EBIT Distribution in the Consumer Packaged Goods Industry

For the Consumer Packaged Goods industry and Consumer Defensive sector, Thai Wah Starch's EV-to-EBIT distribution charts can be found below:

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

Thai Wah Starch 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. 2015 adds up the quarterly data reported by the company within the most recent 12 months, which was ฿538 Mil.

Thai Wah Starch (BKK:TWS) EBIT Explanation

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

Thai Wah Starch's annualized ROC % for the quarter that ended in Jun. 2015 is calculated as:

	ROC % (Q: Jun. 2015 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2015 )	+	Invested Capital (Q: Jun. 2015 ))	/ count )
=	811.692 * ( 1 - 21% )	/	( (1901.953	+	1733.996)	/ 2 )
=	641.23668	/	1817.9745
=	35.27 %

where

	Invested Capital		(Q: Mar. 2015 )
=	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	))
=	2912.003	-	230.851	-	( 779.199	-	max(0, 267.375	-	1806.842	+	779.199	))
=	1901.953

	Invested Capital		(Q: Jun. 2015 )
=	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	))
=	2814.74	-	238.4	-	( 842.344	-	max(0, 267.279	-	1645.771	+	842.344	))
=	1733.996

Note: The Operating Income data used here is four times the quarterly (Jun. 2015) data.

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

Thai Wah Starch's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2015 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2015 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2015		Q: Jun. 2015
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	811.692	/	( ( (726.121 + max(338.974, 0))	+	(796.453 + max(160.9, 0)) )	/	2 )
=	811.692	/	( ( 1065.095	+	957.353 )	/	2 )
=	811.692	/	1011.224
=	80.27 %

where Working Capital is:

	Working Capital		(Q: Mar. 2015 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	541.897	+	43.473)	-	(230.851	+	0	+	15.545)
=	338.974

	Working Capital		(Q: Jun. 2015 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	359.169	+	53.521)	-	(238.4	+	0	+	13.39)
=	160.9

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2015) EBIT data.

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

Thai Wah Starch's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Jun. 2015 )
	=	538.368	/	2092.726
	=	25.73 %

Thai Wah Starch EBIT Related Terms

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Thai Wah Starch (BKK:TWS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Consumer Packaged Goods » Thai Wah Starch PLC (BKK:TWS) » Definitions » EBIT

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Address

Website

http://www.thaiwah.com

Thai Wah Starch PLC was incorporated and domiciled in Thailand on 26 February 2014. It is engaged in the manufacture and distribution of agricultural products such as tapioca starch and related products in Thailand and Vietnam. Its products include tapioca starch, alpha starch, rice and glutinous flour, glucose, candy, tapioca pearl, tapioca chips and pellets, and sorbitol, which are used for consumption and for the paper industry, weaving industry and food industry.

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