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Spear REIT (JSE:SEA) EBIT : R526.1 Mil (TTM As of Feb. 2024)


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What is Spear REIT EBIT?

Spear REIT's earnings before interest and taxes (EBIT) for the six months ended in Feb. 2024 was R335.7 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Feb. 2024 was R526.1 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Spear REIT's annualized ROC % for the quarter that ended in Feb. 2024 was 7.55%. Spear REIT's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2024 was 361.92%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Spear REIT's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Feb. 2024 was 14.13%.


Spear REIT EBIT Historical Data

The historical data trend for Spear REIT'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.

Spear REIT EBIT Chart

Spear REIT Annual Data
Trend Feb17 Feb18 Feb19 Feb20 Feb21 Feb22 Feb23 Feb24
EBIT
Get a 7-Day Free Trial 346.66 219.11 320.91 323.35 526.13

Spear REIT Semi-Annual Data
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 175.74 168.39 154.96 190.38 335.74

Competitive Comparison of Spear REIT's EBIT

For the REIT - Diversified subindustry, Spear REIT'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.


Spear REIT's EV-to-EBIT Distribution in the REITs Industry

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

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



Spear REIT 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 R526.1 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.


Spear REIT  (JSE:SEA) EBIT Explanation

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

Spear REIT'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 )
=353.334 * ( 1 - 0.49% )/( (4700.553 + 4614.487)/ 2 )
=351.6026634/4657.52
=7.55 %

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))
=4509.616 - 95.145 - ( 27.278 - max(0, 731.642 - 445.56+27.278))
=4700.553

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))
=4678.422 - 38.064 - ( 25.871 - max(0, 349.649 - 492.423+25.871))
=4614.487

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:

Spear REIT'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 )
=671.488/( ( (0.78 + max(-299.356, 0)) + (0.5 + max(369.792, 0)) )/ 2 )
=671.488/( ( 0.78 + 370.292 )/ 2 )
=671.488/185.536
=361.92 %

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)
=(18.067 + 400 + 0) - (95.145 + 0 + 622.278)
=-299.356

Working Capital(Q: Feb. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(21.312 + 443 + 2.018) - (38.064 + 0 + 58.474)
=369.792

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:

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Feb. 2024 )
=526.128/3724.598
=14.13 %

* 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.


Spear REIT EBIT Related Terms

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Spear REIT (JSE:SEA) Business Description

Traded in Other Exchanges
N/A
Address
2 Long Street, PO Box 50, 16th Floor, Cape Town, ZAF, 8001
Spear REIT Ltd is a real estate investment trust. The company is a diversified property investment company investing in real estate sectors including office, retail, industrial, residential, and hospitality. Its operating business segments are Industrial, Commercial, Retail, Hospitality, Residential, Development, and Non-property. The segments derive their revenue mainly from rental income from leases. The company derives maximum revenue from the Industrial segment.

Spear REIT (JSE:SEA) Headlines

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