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Equites Property Fund (JSE:EQU) EBIT : R2,020 Mil (TTM As of Feb. 2024)


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What is Equites Property Fund EBIT?

Equites Property Fund's earnings before interest and taxes (EBIT) for the six months ended in Feb. 2024 was R1,200 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Feb. 2024 was R2,020 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Equites Property Fund's annualized ROC % for the quarter that ended in Feb. 2024 was 5.69%. Equites Property Fund's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2024 was 65.46%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Equites Property Fund's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Feb. 2024 was 9.40%.


Equites Property Fund EBIT Historical Data

The historical data trend for Equites Property Fund'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.

* Premium members only.

Equites Property Fund EBIT Chart

Equites Property Fund Annual Data
Trend Feb15 Feb16 Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 717.66 622.76 2,758.93 98.36 2,020.12

Equites Property Fund Semi-Annual Data
Aug14 Feb15 Aug15 Feb16 Aug16 Feb17 Aug17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24
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 1,309.15 1,471.43 -1,373.06 819.89 1,200.24

Competitive Comparison of Equites Property Fund's EBIT

For the REIT - Industrial subindustry, Equites Property Fund'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.


Equites Property Fund's EV-to-EBIT Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Equites Property Fund's EV-to-EBIT distribution charts can be found below:

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



Equites Property Fund 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. 2024 adds up the semi-annually data reported by the company within the most recent 12 months, which was R2,020 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.


Equites Property Fund  (JSE:EQU) EBIT Explanation

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

Equites Property Fund's annualized ROC % for the quarter that ended in Feb. 2024 is calculated as:

ROC % (Q: Feb. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Aug. 2023 ) + Invested Capital (Q: Feb. 2024 ))/ count )
=1679.482 * ( 1 - 1.81% )/( (29165.928 + 28749.092)/ 2 )
=1649.0833758/28957.51
=5.69 %

where

Invested Capital(Q: Aug. 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))
=29909.88 - 499.955 - ( 243.997 - max(0, 4647.96 - 5480.18+243.997))
=29165.928

Invested Capital(Q: Feb. 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))
=30223.16 - 891.543 - ( 625.966 - max(0, 3550.34 - 4132.865+625.966))
=28749.092

Note: The Operating Income data used here is two times the semi-annual (Feb. 2024) data.

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

Equites Property Fund's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2024 is calculated as:

ROC (Joel Greenblatt) %(Q: Feb. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Aug. 2023  Q: Feb. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2400.472/( ( (28.814 + max(4697.916, 0)) + (22.337 + max(2585.45, 0)) )/ 2 )
=2400.472/( ( 4726.73 + 2607.787 )/ 2 )
=2400.472/3667.2585
=65.46 %

where Working Capital is:

Working Capital(Q: Aug. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(394.269 + 856.69 + 3982.174) - (499.955 + 0 + 35.262)
=4697.916

Working Capital(Q: Feb. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(390.721 + 948.685 + 2164.48) - (891.543 + 0 + 26.893)
=2585.45

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Feb. 2024) EBIT data.

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

Equites Property Fund's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Feb. 2024 )
=2020.121/21482.319
=9.40 %

* 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.


Equites Property Fund EBIT Related Terms

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Equites Property Fund (JSE:EQU) Business Description

Traded in Other Exchanges
N/A
Address
4 Bree Street, 14th Floor, Portside Towers, Cape Town, WC, ZAF, 8001
Equites Property Fund Ltd is a real estate investment trust based in South Africa. It is engaged in the investment in and development of commercial properties in the industrial sector. The group has assessed its operations and determined its segments in line with the clear geographic distinction between South Africa and the United Kingdom. SA Industrial segment generates the revenue.

Equites Property Fund (JSE:EQU) Headlines

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