Fiera Milano SpA (FRA:FM3) EBIT: €126.1 Mil (TTM As of Mar. 2026)


FRA:FM3 Fiera Milano SpA FRA:FM3
76 GF Score
Price €8.17
GF Value €5.92
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Fiera Milano SpA EBIT?

Fiera Milano SpA FRA:FM3 -0.61% 76 EBIT is €126.1 Mil as of Mar. 2026. GuruFocus rates FRA:FM3 with a GF Score™ of 76/100 and a GF Value™ of €5.92 (Significantly Overvalued). The stock has 3 warning signs investors should review.

Fiera Milano SpA's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was €36.6 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was €126.1 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Fiera Milano SpA's annualized ROC % for the quarter that ended in Mar. 2026 was 17.60%. Fiera Milano SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 48.50%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Fiera Milano SpA's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 17.20%.

Fiera Milano SpA  (FRA:FM3) EBIT Explanation

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

Fiera Milano SpA's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=146.34 * ( 1 - 19.56% )/( (630.929 + 706.694)/ 2 )
=117.715896/668.8115
=17.60 %

where

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))
=760.847 - 125.653 - ( 187.461 - max(0, 253.117 - 257.382+187.461))
=630.929

Invested Capital(Q: Mar. 2026 )
=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))
=803.621 - 83.178 - ( 191.429 - max(0, 273.521 - 287.27+191.429))
=706.694

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

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

Fiera Milano SpA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=146.34/( ( (304.982 + max(-158.776, 0)) + (298.51 + max(-127.353, 0)) )/ 2 )
=146.34/( ( 304.982 + 298.51 )/ 2 )
=146.34/301.746
=48.50 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(40.983 + 3.595 + 0.53899999999999) - (125.653 + 0 + 78.24)
=-158.776

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(89.798 + 6.043 + 0) - (83.178 + 0 + 140.016)
=-127.353

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

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

Fiera Milano SpA's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=126.116/733.288
=17.20 %

* 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.

Fiera Milano SpA EBIT Related Terms

Fiera Milano SpA EBIT Historical Data

* Premium members only.

The historical data trend for Fiera Milano SpA'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.

Fiera Milano SpA EBIT Chart

Fiera Milano SpA 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 28.57 9.38 50.36 36.84 82.09

Fiera Milano SpA Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 -0.47 39.08 -5.70 56.15 36.59

FRA:FM3 vs CTAS, CPRT, GPN: EBIT Comparison

For the Specialty Business Services subindustry, Fiera Milano SpA'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.

Fiera Milano SpA EV-to-EBIT vs Business Services Industry

For the Business Services industry and Industrials sector, Fiera Milano SpA's EV-to-EBIT distribution charts can be found below:

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


FRA:FM3
76GF Score
Fiera Milano SpA FRA:FM3
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Fiera Milano SpA 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 Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €126.1 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 €126.1 Mil mean?
Fiera Milano SpA (FRA:FM3) has a EBIT of €126.1 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Fiera Milano SpA.
Is Fiera Milano SpA's EBIT too high?
Fiera Milano SpA's current EBIT is €126.1 Mil. Overall, Fiera Milano SpA has a GF Score™ of 76/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fiera Milano SpA's EBIT compare to CTAS and CPRT?
Fiera Milano SpA's EBIT of €126.1 Mil can be compared against companies in the Business Services 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 Business Services company?
A good EBIT depends on the Business Services 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 Fiera Milano SpA. Fiera Milano SpA's current EBIT is €126.1 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fiera Milano SpA stock overvalued right now?
Based on GuruFocus' analysis, Fiera Milano SpA (FRA:FM3) is currently considered Significantly Overvalued. The stock's GF Value™ is €5.92, compared to a current price of €8.17 — trading 38% above its estimated fair value. The current EBIT is €126.1 Mil. Fiera Milano SpA's overall GF Score™ is 76/100 with 3 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 Fiera Milano SpA (FRA:FM3), the current EBIT is €126.1 Mil as of Mar. 2026. 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 Fiera Milano SpA (FRA:FM3) Overvalued in 2026?

Based on GuruFocus' analysis, Fiera Milano SpA stock appears to be overvalued. The current stock price of €8.17 is trading 38% above its estimated GF Value™ of €5.92. GuruFocus considers Fiera Milano SpA to be Significantly Overvalued.

Key valuation signals for FRA:FM3:

  • EBIT: €126.1 Mil
  • GF Value™: €5.92 vs. price of €8.17 (38% above fair value)
  • GF Score™: 76/100 with 3 warning signs

No single metric tells the full story. See the FRA:FM3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Fiera Milano SpA Business Description

Other Exchanges FM:Italy0EGH:UK
Address Strada Statale del Sempione, Rho, Milan, ITA, 28-20017
Fiera Milano SpA is a trade fair company. Its operating segments include Italian Exhibitions Business, Foreign Exhibitions Business, Congresses, and Other Sectors. The Italian Exhibitions and Foreign Exhibitions segment covers all activities for organizing and hosting exhibitions and other events in Italy and abroad through the use, promotion, and offer of furnished exhibition spaces, project support, and ancillary services. It also engages in stand-fitting, technical, and exhibition site services. The Congresses segment covers the management of conferences and events. It generates the majority of the revenue from Italian exhibitions segment. Geographically, it operates in Italy and Abroad, where it derives maximum revenue from Italy.
76GF Score

Get the complete analysis for FRA:FM3

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

€8.17
Price
€5.92
GF Value