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China Feihe (China Feihe) EBIT : $686 Mil (TTM As of Dec. 2023)


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What is China Feihe EBIT?

China Feihe's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was $342 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $686 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. China Feihe's annualized ROC % for the quarter that ended in Dec. 2023 was 24.44%. China Feihe's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 48.69%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. China Feihe's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 28.61%.


China Feihe EBIT Historical Data

The historical data trend for China Feihe'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.

China Feihe EBIT Chart

China Feihe Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
EBIT
Get a 7-Day Free Trial 820.59 1,521.67 1,523.16 960.56 686.74

China Feihe Semi-Annual Data
Dec16 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 691.74 484.94 494.85 343.84 341.87

Competitive Comparison of China Feihe's EBIT

For the Packaged Foods subindustry, China Feihe'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.


China Feihe's EV-to-EBIT Distribution in the Consumer Packaged Goods Industry

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

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



China Feihe 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 $686 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.


China Feihe  (OTCPK:CFEIY) EBIT Explanation

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

China Feihe'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 )
=696.024 * ( 1 - 30.79% )/( (1948.826 + 1993.323)/ 2 )
=481.7182104/1971.0745
=24.44 %

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))
=4883.483 - 869.659 - ( 2538.687 - max(0, 943.325 - 3008.323+2538.687))
=1948.826

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))
=5069.141 - 950.942 - ( 2676.655 - max(0, 1033.897 - 3158.773+2676.655))
=1993.323

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:

China Feihe'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 )
=683.742/( ( (1408.138 + max(-514.286, 0)) + (1400.522 + max(-518.103, 0)) )/ 2 )
=683.742/( ( 1408.138 + 1400.522 )/ 2 )
=683.742/1404.33
=48.69 %

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)
=(70.557 + 281.784 + 3.0320000000002) - (869.659 + 0 + 0)
=-514.286

Working Capital(Q: Dec. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(59.346 + 316.246 + 57.247) - (950.942 + 0 + 0)
=-518.103

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:

China Feihe's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2023 )
=685.714/2396.595
=28.61 %

* 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.


China Feihe EBIT Related Terms

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China Feihe (China Feihe) Business Description

Traded in Other Exchanges
Address
10 Jiuxianqiao Road, Block C, 16th Floor, Star City International Building, Chaoyang District, Beijing, CHN, 100016
Feihe is the number one infant milk formula company in China, with a premium market positioning among domestic and foreign competing brands. The company utilizes the flagship Astrobaby lineup to promote its "more suitable for Chinese babies" proposition. It has a nationwide distributor network covering maternity stores, supermarkets and traditional retailers, as well as a direct sales network in e-commerce.

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