MGM China Holdings (MGM China Holdings) EBIT : $564 Mil (TTM As of Dec. 2023)

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What is MGM China Holdings EBIT?

MGM China Holdings's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was $353 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $564 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. MGM China Holdings's annualized ROC % for the quarter that ended in Dec. 2023 was 17.43%. MGM China Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 25.23%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. MGM China Holdings's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 6.39%.

MGM China Holdings EBIT Historical Data

The historical data trend for MGM China Holdings'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.

MGM China Holdings EBIT Chart

MGM China Holdings Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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363.89

-536.85

-327.95

-473.22

564.86

MGM China Holdings 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															-185.35	-219.42	-252.03	211.15	353.08

Competitive Comparison of MGM China Holdings's EBIT

For the Resorts & Casinos subindustry, MGM China Holdings'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.

MGM China Holdings's EV-to-EBIT Distribution in the Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, MGM China Holdings's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where MGM China Holdings's EV-to-EBIT falls into.

MGM China Holdings 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 $564 Mil.

MGM China Holdings (OTCPK:MCHVY) EBIT Explanation

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

MGM China Holdings'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 )
=	688.636 * ( 1 - 2.1% )	/	( (3905.234	+	3831.061)	/ 2 )
=	674.174644	/	3868.1475
=	17.43 %

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	))
=	3698.334	-	446.448	-	( 448.565	-	max(0, 1197.443	-	544.095	+	448.565	))
=	3905.234

	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	))
=	3736.498	-	569.66	-	( 541.881	-	max(0, 1322.704	-	658.481	+	541.881	))
=	3831.061

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:

MGM China Holdings'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 )
=	706.162	/	( ( (2833.188 + max(-374.292, 0))	+	(2764.121 + max(-469.449, 0)) )	/	2 )
=	706.162	/	( ( 2833.188	+	2764.121 )	/	2 )
=	706.162	/	2798.6545
=	25.23 %

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)
=	(51.127	+	21.03	+	-0.00099999999997635)	-	(446.448	+	0	+	0)
=	-374.292

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(76.119	+	24.092	+	0.00099999999997635)	-	(569.66	+	0	+	0.00099999999997635)
=	-469.449

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:

MGM China Holdings's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	564.23	/	8829.833
	=	6.39 %

MGM China Holdings EBIT Related Terms

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MGM China Holdings (MGM China Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Travel & Leisure » MGM China Holdings Ltd (OTCPK:MCHVY) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

MCHVF:USA 02282:Hong Kong M04:Germany

Address

Avenida Dr. Sun Yat Sen, Edificio MGM MACAU NAPE, Macao, MAC

Website

https://en.mgmchinaholdings.com

MGM China is one of six casino license holders in Macao and operates two integrated resorts: the MGM Macau casino in the Macao Peninsula and MGM Cotai. The company is allowed to operate 750 gaming tables during its new 10-year concession period of 2023-32.