Capital Appreciation (JSE:CTA) EBIT : R201 Mil (TTM As of Sep. 2023)

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What is Capital Appreciation EBIT?

Capital Appreciation's earnings before interest and taxes (EBIT) for the six months ended in Sep. 2023 was R118 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2023 was R201 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Capital Appreciation's annualized ROC % for the quarter that ended in Sep. 2023 was 11.43%. Capital Appreciation's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was 130.80%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Capital Appreciation's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was 19.28%.

Capital Appreciation EBIT Historical Data

The historical data trend for Capital Appreciation'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.

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Capital Appreciation EBIT Chart

Capital Appreciation Annual Data

Trend

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

EBIT

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173.80

208.27

158.43

233.84

156.68

Capital Appreciation Semi-Annual Data
	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
EBIT	Get a 7-Day Free Trial											128.68	105.16	74.62	82.06	118.44

Competitive Comparison of Capital Appreciation's EBIT

For the Information Technology Services subindustry, Capital Appreciation'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.

Capital Appreciation's EV-to-EBIT Distribution in the Software Industry

For the Software industry and Technology sector, Capital Appreciation's EV-to-EBIT distribution charts can be found below:

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

Capital Appreciation 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 Sep. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was R201 Mil.

Capital Appreciation (JSE:CTA) EBIT Explanation

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

Capital Appreciation's annualized ROC % for the quarter that ended in Sep. 2023 is calculated as:

	ROC % (Q: Sep. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Mar. 2023 )	+	Invested Capital (Q: Sep. 2023 ))	/ count )
=	185.538 * ( 1 - 31.03% )	/	( (1053.538	+	1185.121)	/ 2 )
=	127.9655586	/	1119.3295
=	11.43 %

where

	Invested Capital		(Q: Mar. 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	))
=	1663.392	-	114.998	-	( 494.856	-	max(0, 139.736	-	756.44	+	494.856	))
=	1053.538

	Invested Capital		(Q: Sep. 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	))
=	1766.385	-	94.999	-	( 486.265	-	max(0, 124.384	-	710.044	+	486.265	))
=	1185.121

Note: The Operating Income data used here is two times the semi-annual (Sep. 2023) data.

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

Capital Appreciation's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Mar. 2023		Q: Sep. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	236.884	/	( ( (59.806 + max(116.363, 0))	+	(89.68 + max(96.363, 0)) )	/	2 )
=	236.884	/	( ( 176.169	+	186.043 )	/	2 )
=	236.884	/	181.106
=	130.80 %

where Working Capital is:

	Working Capital		(Q: Mar. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(200.26	+	46.978	+	4.8200000000001)	-	(114.998	+	0	+	20.697)
=	116.363

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(194.808	+	15.82	+	3.277)	-	(94.999	+	0	+	22.543)
=	96.363

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Sep. 2023) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2023 )
	=	200.503	/	1040.014
	=	19.28 %

Capital Appreciation EBIT Related Terms

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Capital Appreciation (JSE:CTA) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Technology » Software » Capital Appreciation Ltd (JSE:CTA) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

44 Saturn Crescent, Unit 2, Linbro Business Park, Sandton, Johannesburg, GT, ZAF, 2090

Website

https://www.capitalappreciation.co.za

Capital Appreciation Ltd is a South Africa based company that owns, manages, invests in, and promotes established and developing financial technology enterprises, their platforms, solutions, products, and applications. The company operates in Fintech and Financial service sector. The company operates in three segments that include Payments and Payment Infrastructure Services and Software and Services, and an International Divison. The majority of the revenue is generated from the payments division. All of its revenue is generated from South Africa.