Tsingtao Brewery Co (FRA:TSI) EBIT: €788 Mil (TTM As of Mar. 2026)

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FRA:TSI Tsingtao Brewery Co Ltd FRA:TSI
81 GF Score
Price €5.13
GF Value €6.36
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Tsingtao Brewery Co EBIT?

Tsingtao Brewery Co FRA:TSI +1.68% 81 EBIT is €788 Mil as of Mar. 2026. GuruFocus rates FRA:TSI with a GF Score™ of 81/100 and a GF Value™ of €6.36 (Modestly Undervalued). The stock has 2 warning signs investors should review.

Tsingtao Brewery Co's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was €308 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was €788 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Tsingtao Brewery Co's annualized ROC % for the quarter that ended in Mar. 2026 was 20.31%. Tsingtao Brewery Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 73.13%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Tsingtao Brewery Co's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 13.80%.


Tsingtao Brewery Co  (FRA:TSI) EBIT Explanation

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

Tsingtao Brewery Co'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 )
=1145.88 * ( 1 - 25.21% )/( (4362.249 + 4077.017)/ 2 )
=857.003652/4219.633
=20.31 %

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))
=6321.044 - 1036.893 - ( 2314.449 - max(0, 2012.848 - 2934.75+2314.449))
=4362.249

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))
=6698.036 - 1222.773 - ( 2882.348 - max(0, 1981.463 - 3379.709+2882.348))
=4077.017

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

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

Tsingtao Brewery Co'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 )
=1231.996/( ( (1650.356 + max(-1396.544, 0)) + (1718.946 + max(-1491.893, 0)) )/ 2 )
=1231.996/( ( 1650.356 + 1718.946 )/ 2 )
=1231.996/1684.651
=73.13 %

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)
=(15.397 + 392.46 + 203.995) - (1036.893 + 0 + 971.503)
=-1396.544

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(15.936 + 292.87 + 176.975) - (1222.773 + 0 + 754.901)
=-1491.893

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:

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=787.52/5708.692
=13.80 %

* 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.


Tsingtao Brewery Co EBIT Related Terms


Tsingtao Brewery Co EBIT Historical Data

* Premium members only.

The historical data trend for Tsingtao Brewery 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.

Tsingtao Brewery Co EBIT Chart

Tsingtao Brewery Co 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 626.39 680.11 740.11 774.33 764.21

Tsingtao Brewery Co 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 294.70 357.21 228.84 -106.54 308.00

FRA:TSI vs STZ: EBIT Comparison

For the Beverages - Brewers subindustry, Tsingtao Brewery 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.


Tsingtao Brewery Co EV-to-EBIT vs Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, Tsingtao Brewery Co's EV-to-EBIT distribution charts can be found below:

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


FRA:TSI
81GF Score
Tsingtao Brewery Co Ltd FRA:TSI
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Tsingtao Brewery 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 Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €788 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 €788 Mil mean?
Tsingtao Brewery Co (FRA:TSI) has a EBIT of €788 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Tsingtao Brewery Co.
Is Tsingtao Brewery Co's EBIT too high?
Tsingtao Brewery Co's current EBIT is €788 Mil. Overall, Tsingtao Brewery Co has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Tsingtao Brewery Co's EBIT compare to STZ?
Tsingtao Brewery Co's EBIT of €788 Mil can be compared against companies in the Beverages - Alcoholic 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 Beverages - Alcoholic company?
A good EBIT depends on the Beverages - Alcoholic 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 Tsingtao Brewery Co. Tsingtao Brewery Co's current EBIT is €788 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tsingtao Brewery Co stock overvalued right now?
Based on GuruFocus' analysis, Tsingtao Brewery Co (FRA:TSI) is currently considered Modestly Undervalued. The stock's GF Value™ is €6.36, compared to a current price of €5.13 — trading 19.3% below its estimated fair value. The current EBIT is €788 Mil. Tsingtao Brewery Co's overall GF Score™ is 81/100 with 2 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 Tsingtao Brewery Co (FRA:TSI), the current EBIT is €788 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 Tsingtao Brewery Co (FRA:TSI) Overvalued in 2026?

Based on GuruFocus' analysis, Tsingtao Brewery Co stock appears to be undervalued. The current stock price of €5.13 is trading 19.3% below its estimated GF Value™ of €6.36. GuruFocus considers Tsingtao Brewery Co to be Modestly Undervalued.

Key valuation signals for FRA:TSI:

  • EBIT: €788 Mil
  • GF Value™: €6.36 vs. price of €5.13 (19.3% below fair value)
  • GF Score™: 81/100 with 2 warning signs

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


Tsingtao Brewery Co Business Description

Address No. 35, Donghai West Road, Tsingtao Beer Tower, Shandong Province, Qingdao, CHN, 266071
With over 100 years of history, Tsingtao Brewery has become one of the leading brewers in China with its core Tsingtao brand. The company commands a dominant position in its core market, Shandong province, which contributed close to 60% of its revenue and net profit in 2024. Unlike other major brewers, Tsingtao Brewery's brand umbrellas consist entirely of domestic brands. The Tsingtao brand has a mid-range to high-end market positioning and contributed over half of its volume whereas the mass market Laoshan brand targets the mainstream segment, with a declining volume mix as the company sought to premiumize its portfolio.
81GF Score

Get the complete analysis for FRA:TSI

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

€5.13
Price
€6.36
GF Value