Pan African Resources (LSE:PAF) EBIT : £92.4 Mil (TTM As of Dec. 2023)

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What is Pan African Resources EBIT?

Pan African Resources's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was £51.5 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was £92.4 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Pan African Resources's annualized ROC % for the quarter that ended in Dec. 2023 was 20.91%. Pan African Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 30.29%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Pan African Resources's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 17.65%.

Pan African Resources EBIT Historical Data

The historical data trend for Pan African Resources'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.

Pan African Resources EBIT Chart

Pan African Resources Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

EBIT

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46.76

52.36

80.22

91.87

74.60

Pan African Resources Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
EBIT	Get a 7-Day Free Trial															48.51	39.49	34.84	40.99	51.45

Competitive Comparison of Pan African Resources's EBIT

For the Gold subindustry, Pan African Resources'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.

Pan African Resources's EV-to-EBIT Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, Pan African Resources's EV-to-EBIT distribution charts can be found below:

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

Pan African Resources 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 Dec. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was £92.4 Mil.

Pan African Resources (LSE:PAF) EBIT Explanation

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

Pan African Resources's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	113.2 * ( 1 - 28.91% )	/	( (363.346	+	406.304)	/ 2 )
=	80.47388	/	384.825
=	20.91 %

where

	Invested Capital		(Q: Jun. 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	))
=	396.744	-	37.756	-	( 27.349	-	max(0, 52.878	-	48.52	+	27.349	))
=	363.346

	Invested Capital		(Q: Dec. 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	))
=	453.187	-	35.648	-	( 24.725	-	max(0, 38.39	-	49.625	+	24.725	))
=	406.304

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

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

Pan African Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	102.906	/	( ( (313.036 + max(-24.354, 0))	+	(366.386 + max(-12.627, 0)) )	/	2 )
=	102.906	/	( ( 313.036	+	366.386 )	/	2 )
=	102.906	/	339.711
=	30.29 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(5.501	+	7.577	+	6.336)	-	(37.756	+	0	+	6.012)
=	-24.354

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(14.869	+	9.3	+	0.73099999999999)	-	(35.648	+	0	+	1.879)
=	-12.627

When net working capital is negative, 0 is used.

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

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

Pan African Resources's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	92.444	/	523.703
	=	17.65 %

Pan African Resources EBIT Related Terms

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Pan African Resources (LSE:PAF) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » Pan African Resources PLC (LSE:PAF) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

PAN:South Africa PAFRY:USA PAFRF:USA PAF:UK RTZ:Germany

Address

The Firs Office Building, 2nd Floor, Office 204, Corner Cradock and Biermann Avenues, Rosebank, Johannesburg, GT, ZAF, 2196

Website

https://www.panafricanresources.com

Pan African Resources PLC is a precious metals producer based in the United Kingdom. It operates metal mines in South Africa and derives revenue principally through the mining, extraction, and sale of gold. The company conducts its business through the operation of mining projects in various parts of South Africa, such as Barberton Mines, a gold mining project, Phoenix Platinum, and Uitkomst Colliery, located in Newcastle which sell coal to local and export markets. It also operates growth projects, including PAR Gold Proprietary Limited, which derives revenue from providing management and administration services to other group companies.