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Midland Holdings's earnings before interest and taxes (EBIT) for the six months ended in Jun. 2024 was HK$222 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2024 was HK$155 Mil.
EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Midland Holdings's annualized ROC % for the quarter that ended in Jun. 2024 was 43.20%. Midland Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2024 was 99.54%.
EBIT is also linked to Joel Greenblatt's definition of earnings yield. Midland Holdings's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2024 was 32.33%.
The historical data trend for Midland Holdings'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.
Midland Holdings Annual Data | |||||||||||||||||||||
Trend | Dec14 | Dec15 | Dec16 | Dec17 | Dec18 | Dec19 | Dec20 | Dec21 | Dec22 | Dec23 | |||||||||||
EBIT | Get a 7-Day Free Trial | -22.51 | 184.12 | 174.08 | -555.45 | -0.23 |
Midland Holdings Semi-Annual Data | ||||||||||||||||||||
Dec14 | Jun15 | Dec15 | Jun16 | Dec16 | Jun17 | Dec17 | Jun18 | Dec18 | Jun19 | Dec19 | Jun20 | Dec20 | Jun21 | Dec21 | Jun22 | Dec22 | Jun23 | Dec23 | Jun24 | |
EBIT | Get a 7-Day Free Trial | -238.74 | -316.71 | 66.90 | -67.13 | 222.24 |
For the Real Estate Services subindustry, Midland Holdings'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.
For the Real Estate industry and Real Estate sector, Midland Holdings's EV-to-EBIT distribution charts can be found below:
* The bar in red indicates where Midland Holdings's EV-to-EBIT falls into.
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 Jun. 2024 adds up the semi-annually data reported by the company within the most recent 12 months, which was HK$155 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.
Midland Holdings (HKSE:01200) EBIT Explanation
1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.
Midland Holdings's annualized ROC % for the quarter that ended in Jun. 2024 is calculated as:
ROC % (Q: Jun. 2024 ) | ||||||
= | NOPAT | / | Average Invested Capital | |||
= | Operating Income * ( 1 - Tax Rate % ) | / | ( (Invested Capital (Q: Dec. 2023 ) | + | Invested Capital (Q: Jun. 2024 )) | / count ) |
= | 474.834 * ( 1 - 15.67% ) | / | ( (898.64 | + | 955.396) | / 2 ) |
= | 400.4275122 | / | 927.018 | |||
= | 43.20 % |
where
Invested Capital | (Q: Dec. 2023 ) | |||||||||||
= | 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 | )) |
= | 3569.187 | - | 2404.95 | - | ( 532.147 | - | max(0, 2796.788 | - | 3062.385 | + | 532.147 | )) |
= | 898.64 |
Invested Capital | (Q: Jun. 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 | )) |
= | 5051.894 | - | 3580.834 | - | ( 664.582 | - | max(0, 4127.712 | - | 4643.376 | + | 664.582 | )) |
= | 955.396 |
Note: The Operating Income data used here is two times the semi-annual (Jun. 2024) data.
2. Joel Greenblatt's definition of Return on Capital:
Midland Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2024 is calculated as:
ROC (Joel Greenblatt) % | (Q: Jun. 2024 ) | ||||||
= | EBIT | / | Average of (Net fixed Assets | + | Net Working Capital) | ||
= | EBIT | / | Average of (Property, Plant and Equipment | + | Net Working Capital) | ||
Q: Dec. 2023 | Q: Jun. 2024 | ||||||
= | EBIT | / | ( ( (Property, Plant and Equipment + Net Working Capital) | + | (Property, Plant and Equipment + Net Working Capital) ) | / | count ) |
= | 444.482 | / | ( ( (382.466 + max(-99.489, 0)) | + | (310.599 + max(200.024, 0)) ) | / | 2 ) |
= | 444.482 | / | ( ( 382.466 | + | 510.623 ) | / | 2 ) |
= | 444.482 | / | 446.5445 | ||||
= | 99.54 % |
where Working Capital is:
Working Capital | (Q: Dec. 2023 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (2305.078 | + | 0 | + | 0.38300000000027) | - | (2404.95 | + | 0 | + | 0) |
= | -99.489 |
Working Capital | (Q: Jun. 2024 ) | ||||||||||
= | (Accounts Receivable | + | Total Inventories | + | Other Current Assets) | - | (Accounts Payable & Accrued Expense | + | Defer. Rev. | + | Other Current Liabilities) |
= | (3780.267 | + | 0 | + | 0.59100000000035) | - | (3580.834 | + | 0 | + | 9.0949470177293E-13) |
= | 200.024 |
When net working capital is negative, 0 is used.
Note: The EBIT data used here is two times the semi-annual (Jun. 2024) EBIT data.
3. It is also linked to Joel Greenblatt's definition of Earnings Yield:
Midland Holdings's Earnings Yield (Joel Greenblatt) % for today is calculated as:
Earnings Yield (Joel Greenblatt) % | = | EBIT (TTM) | / | Enterprise Value (Q: Jun. 2024 ) |
= | 155.113 | / | 479.751 | |
= | 32.33 % |
* 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.
Thank you for viewing the detailed overview of Midland Holdings's EBIT provided by GuruFocus.com. Please click on the following links to see related term pages.
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