Glencore (FRA:8GC) EBIT: €3,052 Mil (TTM As of Dec. 2025)


FRA:8GC Glencore PLC FRA:8GC
69 GF Score
Price €6.16
GF Value €5.26
Valuation Modestly Overvalued
! 11 Warning Signs
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What is Glencore EBIT?

Glencore FRA:8GC -4.64% 69 EBIT is €3,052 Mil as of Dec. 2025. GuruFocus rates FRA:8GC with a GF Score™ of 69/100 and a GF Value™ of €5.26 (Modestly Overvalued). The stock has 11 warning signs investors should review.

Glencore's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2025 was €2,671 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was €3,052 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Glencore's annualized ROC % for the quarter that ended in Dec. 2025 was 3.19%. Glencore's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 9.51%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Glencore's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 3.00%.


Glencore  (FRA:8GC) EBIT Explanation

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

Glencore's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=4088.952 * ( 1 - 33.01% )/( (85257.312 + 86708.328)/ 2 )
=2739.1889448/85982.82
=3.19 %

where

Invested Capital(Q: Jun. 2025 )
=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))
=114600.06 - 27019.188 - ( 2323.56 - max(0, 45598.998 - 52345.125+2323.56))
=85257.312

Invested Capital(Q: Dec. 2025 )
=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))
=121437.946 - 32237.646 - ( 2491.972 - max(0, 53878.86 - 57243.62+2491.972))
=86708.328

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

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

Glencore's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=5342.624/( ( (42935.574 + max(15369.309, 0)) + (42105.616 + max(11977.35, 0)) )/ 2 )
=5342.624/( ( 58304.883 + 54082.966 )/ 2 )
=5342.624/56193.9245
=9.51 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(9581.217 + 25850.472 + 13409.889) - (27019.188 + 0 + 6453.081)
=15369.309

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(11467.512 + 28081.228 + 13929.594) - (32237.646 + 0 + 9263.338)
=11977.35

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2025 )
=3051.925/101887.221
=3.00 %

* 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.


Glencore EBIT Related Terms


Glencore EBIT Historical Data

* Premium members only.

The historical data trend for Glencore'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.

Glencore EBIT Chart

Glencore Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 7,719.86 23,269.60 7,273.64 1,836.47 3,046.22

Glencore Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 708.84 968.02 841.36 380.61 2,671.31

Glencore EBIT Competitor Comparison

For the Other Industrial Metals & Mining subindustry, Glencore'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.


Glencore EV-to-EBIT vs Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Glencore's EV-to-EBIT distribution charts can be found below:

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


FRA:8GC
69GF Score
Glencore PLC FRA:8GC
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Glencore 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. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was €3,052 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of €3,052 Mil mean?
Glencore (FRA:8GC) has a EBIT of €3,052 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Glencore.
Is Glencore's EBIT too high?
Glencore's current EBIT is €3,052 Mil. Overall, Glencore has a GF Score™ of 69/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Glencore's EBIT compare to competitors?
Glencore's EBIT of €3,052 Mil can be compared against companies in the Metals & Mining industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for a Metals & Mining company?
A good EBIT depends on the Metals & Mining industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Glencore. Glencore's current EBIT is €3,052 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Glencore stock overvalued right now?
Based on GuruFocus' analysis, Glencore (FRA:8GC) is currently considered Modestly Overvalued. The stock's GF Value™ is €5.26, compared to a current price of €6.16 — trading 17.1% above its estimated fair value. The current EBIT is €3,052 Mil. Glencore's overall GF Score™ is 69/100 with 11 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Glencore (FRA:8GC), the current EBIT is €3,052 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Glencore (FRA:8GC) Overvalued in 2026?

Based on GuruFocus' analysis, Glencore stock appears to be overvalued. The current stock price of €6.16 is trading 17.1% above its estimated GF Value™ of €5.26. GuruFocus considers Glencore to be Modestly Overvalued.

Key valuation signals for FRA:8GC:

  • EBIT: €3,052 Mil
  • GF Value™: €5.26 vs. price of €6.16 (17.1% above fair value)
  • GF Score™: 69/100 with 11 warning signs

No single metric tells the full story. See the FRA:8GC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Glencore Business Description

Address Baarermattstrasse 3, Baar, CHE, CH-6340
Glencore is one of the world's largest commodities traders, active in markets for metals and minerals, and energy products. Its marketing business provides sourcing, logistics, transportation, storage, and financing services to commodity producers and consumers around the globe. Its mining or industrials business produces thermal coal, coking coal, copper, zinc, nickel, cobalt, and ferroalloys. Unlike other major miners who are generally reducing their exposure to coal, it plans to produce thermal coal until its mines exhaust, arguing that it is better for listed, western companies to own these assets and then rehabilitate them consistent with western standards. We agree. It also expanded its coking coal exposure via the purchase of 77% of Teck's metallurgical coal business in July 2024.
69GF Score

Get the complete analysis for FRA:8GC

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€6.16
Price
€5.26
GF Value