Future (FRA:FNWA) EBIT: €94.9 Mil (TTM As of Mar. 2026)


FRA:FNWA Future PLC FRA:FNWA
61 GF Score
Price €3.28
GF Value €9.11
Valuation Possible Value Trap
! 6 Warning Signs
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What is Future EBIT?

Future FRA:FNWA -0.61% 61 EBIT is €94.9 Mil as of Mar. 2026. GuruFocus rates FRA:FNWA with a GF Score™ of 61/100 and a GF Value™ of €9.11 (Possible Value Trap). The stock has 6 warning signs investors should review.

Future's earnings before interest and taxes (EBIT) for the six months ended in Mar. 2026 was €37.0 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was €94.9 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Future's annualized ROC % for the quarter that ended in Mar. 2026 was 3.75%. Future's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 212.41%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Future's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 13.50%.


Future  (FRA:FNWA) EBIT Explanation

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

Future'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: Sep. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=105.184 * ( 1 - 33.7% )/( (1839.975 + 1875.55)/ 2 )
=69.736992/1857.7625
=3.75 %

where

Invested Capital(Q: Sep. 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))
=1880.272 - 47.896 - ( 31.777 - max(0, 179.726 - 172.127+31.777))
=1839.975

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))
=1940.137 - 74.621 - ( 51.439 - max(0, 203.102 - 193.068+51.439))
=1875.55

Note: The Operating Income data used here is two times the semi-annual (Mar. 2026) data.

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

Future'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: Sep. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=74.044/( ( (33.965 + max(-62.633, 0)) + (35.753 + max(-88.345, 0)) )/ 2 )
=74.044/( ( 33.965 + 35.753 )/ 2 )
=74.044/34.859
=212.41 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(69.426 + 1.497 + 39.722) - (47.896 + 0 + 125.382)
=-62.633

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(60.896 + 0 + 48.786) - (74.621 + 0 + 123.406)
=-88.345

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2026) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=94.935/703.344
=13.50 %

* 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.


Future EBIT Related Terms


Future EBIT Historical Data

* Premium members only.

The historical data trend for Future'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.

Future EBIT Chart

Future Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 132.99 212.64 198.42 156.25 136.44

Future Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 72.71 82.12 81.51 57.91 37.02

FRA:FNWA vs NYT, WLY: EBIT Comparison

For the Publishing subindustry, Future'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.


Future EV-to-EBIT vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Future's EV-to-EBIT distribution charts can be found below:

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


FRA:FNWA
61GF Score
Future PLC FRA:FNWA
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Future 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 semi-annually data reported by the company within the most recent 12 months, which was €94.9 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 €94.9 Mil mean?
Future (FRA:FNWA) has a EBIT of €94.9 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Future.
Is Future's EBIT too high?
Future's current EBIT is €94.9 Mil. Overall, Future has a GF Score™ of 61/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Future's EBIT compare to NYT and WLY?
Future's EBIT of €94.9 Mil can be compared against companies in the Media - Diversified 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 Media - Diversified company?
A good EBIT depends on the Media - Diversified 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 Future. Future's current EBIT is €94.9 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Future stock overvalued right now?
Based on GuruFocus' analysis, Future (FRA:FNWA) is currently considered Possible Value Trap. The stock's GF Value™ is €9.11, compared to a current price of €3.28 — trading 64% below its estimated fair value. The current EBIT is €94.9 Mil. Future's overall GF Score™ is 61/100 with 6 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 Future (FRA:FNWA), the current EBIT is €94.9 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 Future (FRA:FNWA) Overvalued in 2026?

Based on GuruFocus' analysis, Future stock appears to be undervalued. The current stock price of €3.28 is trading 64% below its estimated GF Value™ of €9.11. GuruFocus considers Future to be Possible Value Trap.

Key valuation signals for FRA:FNWA:

  • EBIT: €94.9 Mil
  • GF Value™: €9.11 vs. price of €3.28 (64% below fair value)
  • GF Score™: 61/100 with 6 warning signs

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


Future Business Description

Other Exchanges FUTRl:UKFUTR:UK
Address Quay House, The Ambury, Bath, GBR, BA1 1UA
Future PLC is a platform for specialist media underpinned by proprietary technology and enabled by data, with diversified revenue streams. It focuses on various areas which include technology, games, films, music, and photography under brands such as Louder, Tom's Guide, PC Gamer, Digital Camera World, Marie Claire, and others. The company functions through the following divisions; the Media division which generates maximum revenue includes income from digital advertising, affiliate revenue for products, rewards, price comparison and events; and the Magazine division includes revenue associated with digital or printed magazines or bookazines from advertising, to subscriptions, to newstrade. Its reportable segments include the United Kingdom which derives key revenue, and the United States.
61GF Score

Get the complete analysis for FRA:FNWA

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

€3.28
Price
€9.11
GF Value