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Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario (BSP:MFII11) EBIT : R$ Mil (TTM As of Dec. 2023)


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What is Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario EBIT?

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was R$98.55 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's annualized ROC % for the quarter that ended in Dec. 2023 was 23.58%. Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 164.15%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield.


Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario EBIT Historical Data

The historical data trend for Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario'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.

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario EBIT Chart

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario Annual Data
Trend Dec21 Dec22 Dec23
EBIT
-6.91 48.80 98.55

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario Semi-Annual Data
Dec21 Dec22 Dec23
EBIT -6.91 48.80 98.55

Competitive Comparison of Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's EBIT

For the REIT - Diversified subindustry, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario'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.


Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's EV-to-EBIT Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's EV-to-EBIT falls into.



Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was R$ 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.


Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario  (BSP:MFII11) EBIT Explanation

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

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario'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: Dec. 2022 ) + Invested Capital (Q: Dec. 2023 ))/ count )
=76.528 * ( 1 - 0% )/( (302.379 + 346.599)/ 2 )
=76.528/324.489
=23.58 %

where

Invested Capital(Q: Dec. 2022 )
=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))
=462.459 - 23.995 - ( 136.085 - max(0, 23.995 - 216.091+136.085))
=302.379

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))
=530.821 - 23.084 - ( 161.138 - max(0, 23.084 - 248.446+161.138))
=346.599

Note: The Operating Income data used here is one times the annual (Dec. 2023) data.

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

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario'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: Dec. 2022  Q: Dec. 2023
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=98.553/( ( (0 + max(55.953, 0)) + (0 + max(64.127, 0)) )/ 2 )
=98.553/( ( 55.953 + 64.127 )/ 2 )
=98.553/60.04
=164.15 %

where Working Capital is:

Working Capital(Q: Dec. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(30.494 + 47.507 + 1.947) - (23.995 + 0 + 0)
=55.953

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(32.777 + 52.329 + 2.105) - (23.084 + 0 + 0)
=64.127

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (Dec. 2023) EBIT data.

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

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2023 )
=/298.766
= %

* 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.


Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario EBIT Related Terms

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Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario (BSP:MFII11) Business Description

Traded in Other Exchanges
Address
Rua Funchal, 418 - 21 andar, Sao Paulo, SP, BRA, 04548-004
Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario is a real estate investment trust. It is engaged in the acquisition of interests in real estate development projects developed in partnership with developers.

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario (BSP:MFII11) Headlines

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