Trade & Value AG (HAM:TAV) EBIT: €0.04 Mil (TTM As of Dec. 2025)

What is Trade & Value AG EBIT?

Trade & Value AG HAM:TAV 38 EBIT is €0.04 Mil as of Dec. 2025. GuruFocus rates HAM:TAV with a GF Score™ of 38/100 and a GF Value™ of €0.46 (Significantly Overvalued). The stock has 2 warning signs investors should review.

Trade & Value AG's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2025 was €0.04 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was €0.04 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Trade & Value AG's annualized ROC % for the quarter that ended in Dec. 2025 was 71.29%. Trade & Value AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was %.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Trade & Value AG's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 42.86%.

Trade & Value AG (HAM:TAV) EBIT Explanation

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

Trade & Value AG'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: Dec. 2024 )	+	Invested Capital (Q: Dec. 2025 ))	/ count )
=	0.036 * ( 1 - 0% )	/	( (0.042	+	0.059)	/ 2 )
=	0.036	/	0.0505
=	71.29 %

where

	Invested Capital		(Q: Dec. 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	))
=	0.531	-	0.013	-	( 0.487	-	max(0, 0.013	-	0.489	+	0.487	))
=	0.042

	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	))
=	0.558	-	0	-	( 0.516	-	max(0, 0.018	-	0.517	+	0.516	))
=	0.059

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

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

Trade & Value AG'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: Dec. 2024		Q: Dec. 2025
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	0.036	/	( ( (0 + max(-0.011, 0))	+	(0 + max(-0.017, 0)) )	/	2 )
=	0.036	/	( ( 0	+	0 )	/	2 )
=	0.036	/	0
=	%

where Working Capital is:

	Working Capital		(Q: Dec. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.002)	-	(0.013	+	0	+	0)
=	-0.011

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.001)	-	(0	+	0	+	0.018)
=	-0.017

When net working capital is negative, 0 is used.

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

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

Trade & Value AG's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2025 )
	=	0.036	/	0.084
	=	42.86 %

* 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.

Trade & Value AG EBIT Related Terms

Trade & Value AG EBIT Historical Data

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The historical data trend for Trade & Value AG's EBIT can be seen below:

Trade & Value AG EBIT Chart

Trade & Value AG Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

EBIT

Get a 7-Day Free Trial

-0.06

-0.04

-0.03

0.04

Trade & Value AG Semi-Annual Data
	Dec08	Dec09	Dec10	Dec11	Dec12	Dec13	Dec14	Dec15	Dec16	Dec17	Dec18	Dec19	Dec20	Dec21	Dec22	Dec23	Dec24	Dec25
EBIT	Get a 7-Day Free Trial													-0.06	-0.06	-0.04	-0.03	0.04

HAM:TAV vs BLK, BX, KKR: EBIT Comparison

For the Asset Management subindustry, Trade & Value AG'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.

Trade & Value AG EV-to-EBIT vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Trade & Value AG's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Trade & Value AG's EV-to-EBIT falls into.

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38GF Score

Trade & Value AG HAM:TAV

EBIT is just one metric. See GF Score™, valuation, warning signs, and more.

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Trade & Value AG 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. EBIT for the trailing twelve months (TTM) ended in Dec. 2025 was €0.04 Mil.

Frequently Asked Questions Learn more about EBIT →

What does a EBIT of €0.04 Mil mean?

Trade & Value AG (HAM:TAV) has a EBIT of €0.04 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Trade & Value AG.

Is Trade & Value AG's EBIT too high?

Trade & Value AG's current EBIT is €0.04 Mil. Overall, Trade & Value AG has a GF Score™ of 38/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Trade & Value AG's EBIT compare to BLK and BX?

Trade & Value AG's EBIT of €0.04 Mil can be compared against companies in the Asset Management 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 an Asset Management company?

A good EBIT depends on the Asset Management 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 Trade & Value AG. Trade & Value AG's current EBIT is €0.04 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Trade & Value AG stock overvalued right now?

Based on GuruFocus' analysis, Trade & Value AG (HAM:TAV) is currently considered Significantly Overvalued. The stock's GF Value™ is €0.46, compared to a current price of €1.60 — trading 247.8% above its estimated fair value. The current EBIT is €0.04 Mil. Trade & Value AG's overall GF Score™ is 38/100 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 Trade & Value AG (HAM:TAV), the current EBIT is €0.04 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 Trade & Value AG (HAM:TAV) Overvalued in 2026?

Based on GuruFocus' analysis, Trade & Value AG stock appears to be overvalued. The current stock price of €1.60 is trading 247.8% above its estimated GF Value™ of €0.46. GuruFocus considers Trade & Value AG to be Significantly Overvalued.

Key valuation signals for HAM:TAV:

EBIT: €0.04 Mil
GF Value™: €0.46 vs. price of €1.60 (247.8% above fair value)
GF Score™: 38/100 with 2 warning signs

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

Trade & Value AG Business Description

Industry Financial Services Asset Management

Comparable Companies HAM:I8CK HAM:NAB HAM:FTRK FRA:RTML BLK BX OSTO:INVE A TSX:BN KKR TSX:BAM APO STT AMP OSTO:EQT NTRS LSE:III RJF XSWX:PGHN ARES OSTO:INDU A

Address Am Hayengraben 7, Oldenburg, DEU, 26135

Website https://www.tav.ag

Trade & Value AG is an asset management company operating in Germany. The company focuses on investing in valued companies, undervalued assets, and turnaround stocks.

38GF Score

Get the complete analysis for HAM:TAV

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

€1.60

Price

€0.46

GF Value

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