Thungela Resources (LSE:TGA) EBIT: £-310 Mil (TTM As of Dec. 2025)


LSE:TGA Thungela Resources Ltd LSE:TGA
65 GF Score
Price £4.57
GF Value £5.22
Valuation Modestly Undervalued
! 7 Warning Signs
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What is Thungela Resources EBIT?

Thungela Resources LSE:TGA -6.26% 65 EBIT is £-310 Mil as of Dec. 2025. GuruFocus rates LSE:TGA with a GF Score™ of 65/100 and a GF Value™ of £5.22 (Modestly Undervalued). The stock has 7 warning signs investors should review.

Thungela Resources's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2025 was £-351 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was £-310 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Thungela Resources's annualized ROC % for the quarter that ended in Dec. 2025 was -6.29%. Thungela Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -95.86%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Thungela Resources's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -86.10%.

Thungela Resources  (LSE:TGA) EBIT Explanation

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

Thungela Resources's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=-92.306 * ( 1 - 12.23% )/( (1417.894 + 1156.532)/ 2 )
=-81.0169762/1287.213
=-6.29 %

where

Invested Capital(Q: Jun. 2025 )
=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))
=1947.613 - 262.709 - ( 267.01 - max(0, 346.667 - 650.9+267.01))
=1417.894

Invested Capital(Q: Dec. 2025 )
=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))
=1676.819 - 293.072 - ( 227.215 - max(0, 356.754 - 615.477+227.215))
=1156.532

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

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

Thungela Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-702.414/( ( (856.121 + max(38.298, 0)) + (537.905 + max(33.15, 0)) )/ 2 )
=-702.414/( ( 894.419 + 571.055 )/ 2 )
=-702.414/732.737
=-95.86 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(170.728 + 139.13 + 74.032) - (262.709 + 0 + 82.883)
=38.298

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(181.417 + 136.64 + 70.205) - (293.072 + 0 + 62.04)
=33.15

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2025 )
=-309.6/359.580
=-86.10 %

* 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.

Thungela Resources EBIT Related Terms

Thungela Resources EBIT Historical Data

* Premium members only.

The historical data trend for Thungela 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.

Thungela Resources EBIT Chart

Thungela Resources Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial 387.51 1,182.14 348.77 267.24 -306.56

Thungela Resources Semi-Annual Data
Dec18 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
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 148.69 96.99 168.51 41.61 -351.21

LSE:TGA vs CNR: EBIT Comparison

For the Thermal Coal subindustry, Thungela 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.

Thungela Resources EV-to-EBIT vs Other Energy Sources Industry

For the Other Energy Sources industry and Energy sector, Thungela Resources's EV-to-EBIT distribution charts can be found below:

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


LSE:TGA
65GF Score
Thungela Resources Ltd LSE:TGA
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Thungela 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. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was £-310 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of £-310 Mil mean?
Thungela Resources (LSE:TGA) has a EBIT of £-310 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Thungela Resources.
Is Thungela Resources' EBIT too high?
Thungela Resources' current EBIT is £-310 Mil. Overall, Thungela Resources has a GF Score™ of 65/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Thungela Resources' EBIT compare to CNR?
Thungela Resources' EBIT of £-310 Mil can be compared against companies in the Other Energy Sources industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for an Other Energy Sources company?
A good EBIT depends on the Other Energy Sources industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Thungela Resources. Thungela Resources's current EBIT is £-310 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Thungela Resources stock overvalued right now?
Based on GuruFocus' analysis, Thungela Resources (LSE:TGA) is currently considered Modestly Undervalued. The stock's GF Value™ is £5.22, compared to a current price of £4.57 — trading 12.5% below its estimated fair value. The current EBIT is £-310 Mil. Thungela Resources' overall GF Score™ is 65/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For Thungela Resources (LSE:TGA), the current EBIT is £-310 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Thungela Resources (LSE:TGA) Overvalued in 2026?

Based on GuruFocus' analysis, Thungela Resources stock appears to be undervalued. The current stock price of £4.57 is trading 12.5% below its estimated GF Value™ of £5.22. GuruFocus considers Thungela Resources to be Modestly Undervalued.

Key valuation signals for LSE:TGA:

  • EBIT: £-310 Mil
  • GF Value™: £5.22 vs. price of £4.57 (12.5% below fair value)
  • GF Score™: 65/100 with 7 warning signs

No single metric tells the full story. See the LSE:TGA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Thungela Resources Business Description

Address 25 Bath Avenue, Rosebank, Johannesburg, GT, ZAF, 2196
Thungela Resources Ltd is a pure-play producer and exporter of thermal coal with operations in South Africa and Australia. The group focuses on high-quality coal reserves and marketable production, positioning as a key player in the energy market by delivering coal through world-class ports, and powering nations. It owns interests in various mining operations, namely Goedehoop, Greenside, Isibonelo, Khwezela, AAIC, Mafube Coal Mining, and Butsanani Energy which consist of both underground and open cast mines located in the Mpumalanga province of South Africa. Its operational segments are Opencast, Underground, and Services.
65GF Score

Get the complete analysis for LSE:TGA

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

£4.57
Price
£5.22
GF Value