Afrimat (JSE:AFT) EBIT: R590 Mil (TTM As of Feb. 2026)


JSE:AFT Afrimat Ltd JSE:AFT
72 GF Score
Price R28.37
GF Value R97.07
Valuation Significantly Undervalued
! 6 Warning Signs
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What is Afrimat EBIT?

Afrimat JSE:AFT +0.57% 72 EBIT is R590 Mil as of Feb. 2026. GuruFocus rates JSE:AFT with a GF Score™ of 72/100 and a GF Value™ of R97.07 (Significantly Undervalued). The stock has 6 warning signs investors should review.

Afrimat's earnings before interest and taxes (EBIT) for the six months ended in Feb. 2026 was R176 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Feb. 2026 was R590 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Afrimat's annualized ROC % for the quarter that ended in Feb. 2026 was 0.00%. Afrimat's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was 5.55%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Afrimat's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was 9.02%.


Afrimat  (JSE:AFT) EBIT Explanation

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

Afrimat's annualized ROC % for the quarter that ended in Feb. 2026 is calculated as:

ROC % (Q: Feb. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Aug. 2025 ) + Invested Capital (Q: Feb. 2026 ))/ count )
=240.406 * ( 1 - 100% )/( (9188.502 + 8470.986)/ 2 )
=0/8829.744
=0.00 %

where

Invested Capital(Q: Aug. 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))
=10142.954 - 2054.131 - ( 489.621 - max(0, 4671.837 - 3572.158+489.621))
=9188.502

Invested Capital(Q: Feb. 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))
=9900.953 - 1644.359 - ( 451.142 - max(0, 3749.491 - 3535.099+451.142))
=8470.986

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

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

Afrimat's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Feb. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Aug. 2025  Q: Feb. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=352.034/( ( (5568.784 + max(864.55, 0)) + (5310.085 + max(934.377, 0)) )/ 2 )
=352.034/( ( 6433.334 + 6244.462 )/ 2 )
=352.034/6338.898
=5.55 %

where Working Capital is:

Working Capital(Q: Aug. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1548.066 + 1407.342 + 4.8099999999999) - (2054.131 + 0 + 41.537000000001)
=864.55

Working Capital(Q: Feb. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1291.703 + 1603.46 + 129.4) - (1644.359 + 0 + 445.827)
=934.377

When net working capital is negative, 0 is used.

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

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

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Feb. 2026 )
=590.469/6546.804
=9.02 %

* 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.


Afrimat EBIT Related Terms


Afrimat EBIT Historical Data

* Premium members only.

The historical data trend for Afrimat'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.

Afrimat EBIT Chart

Afrimat Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24 Feb25 Feb26
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 1,106.17 975.65 1,168.41 499.29 590.47

Afrimat Semi-Annual Data
Aug16 Feb17 Aug17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24 Aug24 Feb25 Aug25 Feb26
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 615.37 313.70 185.59 414.45 176.02

JSE:AFT vs CRH, VMC, MLM: EBIT Comparison

For the Building Materials subindustry, Afrimat'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.


Afrimat EV-to-EBIT vs Building Materials Industry

For the Building Materials industry and Basic Materials sector, Afrimat's EV-to-EBIT distribution charts can be found below:

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


JSE:AFT
72GF Score
Afrimat Ltd JSE:AFT
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Afrimat 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 Feb. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was R590 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 R590 Mil mean?
Afrimat (JSE:AFT) has a EBIT of R590 Mil as of Feb. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Afrimat.
Is Afrimat's EBIT too high?
Afrimat's current EBIT is R590 Mil. Overall, Afrimat has a GF Score™ of 72/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Afrimat's EBIT compare to CRH and VMC?
Afrimat's EBIT of R590 Mil can be compared against companies in the Building Materials 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 Building Materials company?
A good EBIT depends on the Building Materials 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 Afrimat. Afrimat's current EBIT is R590 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Afrimat stock overvalued right now?
Based on GuruFocus' analysis, Afrimat (JSE:AFT) is currently considered Significantly Undervalued. The stock's GF Value™ is R97.07, compared to a current price of R28.37 — trading 70.8% below its estimated fair value. The current EBIT is R590 Mil. Afrimat's overall GF Score™ is 72/100 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 Afrimat (JSE:AFT), the current EBIT is R590 Mil as of Feb. 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 Afrimat (JSE:AFT) Overvalued in 2026?

Based on GuruFocus' analysis, Afrimat stock appears to be undervalued. The current stock price of R28.37 is trading 70.8% below its estimated GF Value™ of R97.07. GuruFocus considers Afrimat to be Significantly Undervalued.

Key valuation signals for JSE:AFT:

  • EBIT: R590 Mil
  • GF Value™: R97.07 vs. price of R28.37 (70.8% below fair value)
  • GF Score™: 72/100 with 6 warning signs

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


Afrimat Business Description

Address Corner Willie van Schoor Avenue and Old Oak Road, Tyger Valley Office Park No. 2, Tyger Valley, Bellville, WC, ZAF, 7530
Afrimat Ltd is a South Africa-based company. It has five segment Construction Materials, Industrial Minerals, Bulk Commodities, Future Materials and Metals, and Services. The company generates majority of revenue from Construction Materials comprises two distinct product segments: Aggregates and Cement. Aggregates include the sale of sand, gravel, crushed stone, and concrete-based products. Concrete-based products are produced using rock, sand, water, cement, and readymix concrete are typically used in various construction applications. The segment also includes the processing and sale of fly-ash, a by-product used to enhance concrete performance. Cement consists of the manufacturing and supply of cement. The Group views the entire southern African region as a single geographical area.
72GF Score

Get the complete analysis for JSE:AFT

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

R28.37
Price
R97.07
GF Value