BT Group (LSE:BT.A) EBIT : £3,072 Mil (TTM As of Sep. 2023)

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What is BT Group EBIT?

BT Group's earnings before interest and taxes (EBIT) for the six months ended in Sep. 2023 was £1,662 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2023 was £3,072 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. BT Group's annualized ROC % for the quarter that ended in Sep. 2023 was 5.94%. BT Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was 12.93%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. BT Group's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2023 was 9.74%.

BT Group EBIT Historical Data

The historical data trend for BT Group'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.

BT Group EBIT Chart

BT Group Annual Data

Trend

Mar14

Mar15

Mar16

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

EBIT

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3,414.00

3,251.00

2,536.00

2,821.00

2,656.00

BT Group Semi-Annual Data
	Mar14	Sep14	Mar15	Sep15	Mar16	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23
EBIT	Get a 7-Day Free Trial															1,441.00	1,380.00	1,246.00	1,410.00	1,662.00

Competitive Comparison of BT Group's EBIT

For the Telecom Services subindustry, BT Group'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.

BT Group's EV-to-EBIT Distribution in the Telecommunication Services Industry

For the Telecommunication Services industry and Communication Services sector, BT Group's EV-to-EBIT distribution charts can be found below:

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

BT Group 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 £3,072 Mil.

BT Group (LSE:BT.A) EBIT Explanation

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

BT Group'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 )
=	3620 * ( 1 - 21.56% )	/	( (48035	+	47624)	/ 2 )
=	2839.528	/	47829.5
=	5.94 %

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	))
=	52752	-	5652	-	( 3809	-	max(0, 10392	-	9457	+	3809	))
=	48035

	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	))
=	53397	-	6297	-	( 3843	-	max(0, 10339	-	9815	+	3843	))
=	47624

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:

BT Group'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 )
=	3324	/	( ( (25648 + max(-4459, 0))	+	(25778 + max(-2965, 0)) )	/	2 )
=	3324	/	( ( 25648	+	25778 )	/	2 )
=	3324	/	25713
=	12.93 %

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)
=	(1395	+	349	+	1617)	-	(5652	+	0	+	2168)
=	-4459

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(3552	+	404	+	536)	-	(6297	+	0	+	1160)
=	-2965

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:

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2023 )
	=	3072	/	31550.420
	=	9.74 %

BT Group EBIT Related Terms

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BT Group (LSE:BT.A) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Telecommunication Services » BT Group PLC (LSE:BT.A) » Definitions » EBIT

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BTGOF:USA BTl:UK BTQ:Germany

Address

1 Braham Street, London, GBR, E1 8EE

Website

https://www.bt.com

BT Group is the incumbent telecommunications operator in the U.K. It is the owner of Openreach, the largest fixed-line network in the U.K. Openreach operates as a separate entity due to regulatory requirements but is still 100% owned by BT. Since 2020, Openreach has accelerated its fiber investments and expects to have 90% of the U.K. covered with FTTH by 2026. In the consumer division, BT has approximately 30% market share in broadband and mobile services. The enterprise segment serves large corporations while the global services division provides communications consultancy services.

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