Smart Metering Systems (LSE:SMS) EBIT : £25.7 Mil (TTM As of Jun. 2023)

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What is Smart Metering Systems EBIT?

Smart Metering Systems's earnings before interest and taxes (EBIT) for the six months ended in Jun. 2023 was £13.1 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2023 was £25.7 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Smart Metering Systems's annualized ROC % for the quarter that ended in Jun. 2023 was 2.95%. Smart Metering Systems's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2023 was 4.67%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Smart Metering Systems's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2023 was 1.81%.

Smart Metering Systems EBIT Historical Data

The historical data trend for Smart Metering Systems'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.

Smart Metering Systems EBIT Chart

Smart Metering Systems Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

EBIT

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10.31

13.87

199.69

11.50

20.36

Smart Metering Systems Semi-Annual Data
	Dec13	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23
EBIT	Get a 7-Day Free Trial															6.56	4.94	7.80	12.56	13.13

Competitive Comparison of Smart Metering Systems's EBIT

For the Electrical Equipment & Parts subindustry, Smart Metering Systems'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.

Smart Metering Systems's EV-to-EBIT Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Smart Metering Systems's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Smart Metering Systems's EV-to-EBIT falls into.

Smart Metering Systems 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 Jun. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was £25.7 Mil.

Smart Metering Systems (LSE:SMS) EBIT Explanation

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

Smart Metering Systems's annualized ROC % for the quarter that ended in Jun. 2023 is calculated as:

	ROC % (Q: Jun. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2022 )	+	Invested Capital (Q: Jun. 2023 ))	/ count )
=	26.092 * ( 1 - 28.39% )	/	( (628.075	+	639.048)	/ 2 )
=	18.6844812	/	633.5615
=	2.95 %

where

	Invested Capital		(Q: Dec. 2022 )
=	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	))
=	697.362	-	36.517	-	( 32.77	-	max(0, 72.242	-	123.963	+	32.77	))
=	628.075

	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	))
=	764.897	-	80.577	-	( 45.272	-	max(0, 85.165	-	147.316	+	45.272	))
=	639.048

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

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

Smart Metering Systems's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2022		Q: Jun. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	26.258	/	( ( (533.24 + max(-3.475, 0))	+	(569.78 + max(20.517, 0)) )	/	2 )
=	26.258	/	( ( 533.24	+	590.297 )	/	2 )
=	26.258	/	561.7685
=	4.67 %

where Working Capital is:

	Working Capital		(Q: Dec. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(25.297	+	37.438	+	4.556)	-	(36.517	+	0	+	34.249)
=	-3.475

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(55.552	+	45.76	+	0.732)	-	(80.577	+	0	+	0.95)
=	20.517

When net working capital is negative, 0 is used.

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

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

Smart Metering Systems's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Jun. 2023 )
	=	25.691	/	1423.136
	=	1.81 %

Smart Metering Systems EBIT Related Terms

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Smart Metering Systems (LSE:SMS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Smart Metering Systems PLC (LSE:SMS) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

SMS.GB:UK SMC:Germany

Address

48 St. Vincent Street, 2nd Floor, Glasgow, GBR, G2 5TS

Website

https://www.sms-plc.com

Smart Metering Systems PLC is a UK-based company which connects, owns, and maintains metering systems and database of energy companies. Its services include Smart Metering & Data; Smart Energy Services; Smart Utility Services; and ADM, which is an intelligent Automated Meter Reading (AMR) solution. The company operates in three segments: Asset Management, which comprises regulated management of gas meters, electric meters, and ADM units; Asset installation, which comprises installation of domestic and I&C gas meters and electricity meters; and Energy Management, which comprises the provision of energy consultancy services and the management of Distributed Energy Resources (DER) assets.

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