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FIRRF (First Tractor Co) EBIT : $162 Mil (TTM As of Jun. 2024)


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What is First Tractor Co EBIT?

First Tractor Co's earnings before interest and taxes (EBIT) for the three months ended in Jun. 2024 was $36 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2024 was $162 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. First Tractor Co's annualized ROC % for the quarter that ended in Jun. 2024 was 9.52%. First Tractor Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2024 was 43.19%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. First Tractor Co's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2024 was 151.71%.


First Tractor Co EBIT Historical Data

The historical data trend for First Tractor Co'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.

First Tractor Co EBIT Chart

First Tractor Co Annual Data
Trend Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 50.46 62.55 80.11 92.55 144.29

First Tractor Co Quarterly Data
Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24
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 Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 44.98 48.36 -20.14 98.04 35.83

Competitive Comparison of First Tractor Co's EBIT

For the Farm & Heavy Construction Machinery subindustry, First Tractor Co'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.


First Tractor Co's EV-to-EBIT Distribution in the Farm & Heavy Construction Machinery Industry

For the Farm & Heavy Construction Machinery industry and Industrials sector, First Tractor Co's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where First Tractor Co's EV-to-EBIT falls into.



First Tractor Co 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. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $162 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.


First Tractor Co  (OTCPK:FIRRF) EBIT Explanation

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

First Tractor Co's annualized ROC % for the quarter that ended in Jun. 2024 is calculated as:

ROC % (Q: Jun. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2024 ) + Invested Capital (Q: Jun. 2024 ))/ count )
=166.116 * ( 1 - 17.24% )/( (1422.293 + 1464.563)/ 2 )
=137.4776016/1443.428
=9.52 %

where

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))
=2132.543 - 599.36 - ( 489.813 - max(0, 968.704 - 1079.594+489.813))
=1422.293

Invested Capital(Q: Jun. 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))
=2037.474 - 488.737 - ( 476.661 - max(0, 895.255 - 979.429+476.661))
=1464.563

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

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

First Tractor Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2024 is calculated as:

ROC (Joel Greenblatt) %(Q: Jun. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2024  Q: Jun. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=143.336/( ( (336.028 + max(-218.892, 0)) + (327.725 + max(-151.822, 0)) )/ 2 )
=143.336/( ( 336.028 + 327.725 )/ 2 )
=143.336/331.8765
=43.19 %

where Working Capital is:

Working Capital(Q: Mar. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(234.613 + 198.119 + 83.514) - (599.36 + 0 + 135.778)
=-218.892

Working Capital(Q: Jun. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(201.314 + 152.68 + 109.933) - (488.737 + 0 + 127.012)
=-151.822

When net working capital is negative, 0 is used.

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

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

First Tractor Co's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Jun. 2024 )
=162.101/106.847
=151.71 %

* 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.


First Tractor Co EBIT Related Terms

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First Tractor Co Business Description

Traded in Other Exchanges
Address
No. 154 Jianshe Road, Henan Province, Luoyang, CHN, 471004
First Tractor Co Ltd is a Chinese company engaged in the agricultural machinery manufacturing industry. Its business scope mainly includes manufacturing and selling agricultural machinery, diesel engines and fuel injections, other machinery, and an operating business of a finance company. It has four reporting divisions. The Agricultural Machinery division, which is the key revenue driver, is responsible for the production and sale of agricultural tractors, harvesters, and others. The power machinery division is mainly responsible for producing and selling diesel engines. The financial business is to handle the member units between the entrusted loans and investment, internal transfer settlement, absorption of member units deposits, and other business.

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