MERFF (Merafe Resources) EBIT: $10.3 Mil (TTM As of Dec. 2025)

What is Merafe Resources EBIT?

Merafe Resources MERFF 64 EBIT is $10.3 Mil as of Dec. 2025. GuruFocus rates MERFF with a GF Score™ of 64/100 and a GF Value™ of $0.17. The stock has 9 warning signs investors should review.

Merafe Resources's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2025 was $-6.9 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was $10.3 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Merafe Resources's annualized ROC % for the quarter that ended in Dec. 2025 was 0.89%. Merafe Resources's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -6.60%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Merafe Resources's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 10.11%.

Merafe Resources (OTCPK:MERFF) EBIT Explanation

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

Merafe 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 )
=	2.678 * ( 1 - 22.06% )	/	( (232.519	+	237.023)	/ 2 )
=	2.0872332	/	234.771
=	0.89 %

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	))
=	337.027	-	40.43	-	( 64.078	-	max(0, 41.788	-	267.222	+	64.078	))
=	232.519

	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	))
=	359.776	-	30.648	-	( 92.105	-	max(0, 57.443	-	281.576	+	92.105	))
=	237.023

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:

Merafe 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 )
=	-13.848	/	( ( (62.39 + max(161.426, 0))	+	(69.204 + max(126.657, 0)) )	/	2 )
=	-13.848	/	( ( 223.816	+	195.861 )	/	2 )
=	-13.848	/	209.8385
=	-6.60 %

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)
=	(59.951	+	138.726	+	4.467)	-	(40.43	+	0	+	1.288)
=	161.426

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(65.776	+	112.793	+	5.451)	-	(30.648	+	0	+	26.715)
=	126.657

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:

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2025 )
	=	10.275	/	101.652
	=	10.11 %

* 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.

Merafe Resources EBIT Related Terms

Merafe Resources EBIT Historical Data

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The historical data trend for Merafe Resources's EBIT can be seen below:

Merafe Resources EBIT Chart

Merafe Resources Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

EBIT

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146.42

112.83

126.31

48.66

11.28

Merafe Resources Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
EBIT	Get a 7-Day Free Trial															47.78	54.47	-6.44	17.20	-6.92

Merafe Resources EBIT Competitor Comparison

For the Other Industrial Metals & Mining subindustry, Merafe 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.

Merafe Resources EV-to-EBIT vs Metals & Mining Industry

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

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

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64GF Score

Merafe Resources Ltd MERFF

EBIT is just one metric. See GF Score™, valuation, warning signs, and more.

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Merafe 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 $10.3 Mil.

Frequently Asked Questions Learn more about EBIT →

What does a EBIT of $10.3 Mil mean?

Merafe Resources (MERFF) has a EBIT of $10.3 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Merafe Resources.

Is Merafe Resources' EBIT too high?

Merafe Resources' current EBIT is $10.3 Mil. Overall, Merafe Resources has a GF Score™ of 64/100, reflecting its overall financial health beyond just this single metric.

How does Merafe Resources' EBIT compare to competitors?

Merafe Resources' EBIT of $10.3 Mil can be compared against companies in the Metals & Mining 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 a Metals & Mining company?

A good EBIT depends on the Metals & Mining 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 Merafe Resources. Merafe Resources's current EBIT is $10.3 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Merafe Resources stock overvalued right now?

Merafe Resources (MERFF) has a current EBIT of $10.3 Mil. The stock's GF Value™ is $0.17, compared to a current price of $0.22 — trading 28.1% above its estimated fair value. The current EBIT is $10.3 Mil. Merafe Resources' overall GF Score™ is 64/100 with 9 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 Merafe Resources (MERFF), the current EBIT is $10.3 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 Merafe Resources (MERFF) Overvalued in 2026?

Based on GuruFocus' analysis, Merafe Resources stock appears to be overvalued. The current stock price of $0.22 is trading 28.1% above its estimated GF Value™ of $0.17.

Key valuation signals for MERFF:

EBIT: $10.3 Mil
GF Value™: $0.17 vs. price of $0.22 (28.1% above fair value)
GF Score™: 64/100 with 9 warning signs

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

Merafe Resources Business Description

Industry Basic Materials Metals & Mining

Comparable Companies JSE:WEZ JSE:MTU ASX:BHP ASX:RIO LSE:RIO MEX:GMEXICOB LSE:GLEN BSP:VALE3 SAU:1211 LSE:AAL HKSE:03993 ASX:FMG SZSE:000657 TSX:TECK.B SHSE:600111 BOM:500188 SHSE:600549 MEX:PE&OLES OSTO:BOL CAS:MNG

Other Exchanges MRF:South Africa RZT:Germany

Address 35 Ballyclare Drive, Building B, 2nd Floor, Ballyoaks Office Park, Bryanston, Johannesburg, GT, ZAF, 2191

Website https://www.meraferesources.co.za

Merafe Resources Ltd through its wholly-owned subsidiary, Merafe Ferrochrome and Mining Proprietary Limited, participates in chrome mining and the beneficiation of chrome ore into ferrochrome. The Glencore-Merafe Chrome Venture (Venture) operates five ferrochrome smelters, twenty-two ferrochrome furnaces, and nine mines, situated in the North-West, Limpopo, and Mpumalanga provinces of South Africa. The company has operating mines namel Marikana West; and Kroondal Gemini. The Group has one reportable segment being the mining and beneficiation of chrome ore into ferrochrome and associated minerals. Geographically, it has its presence in Africa, Americas, Asia, China, Indonesia, Other Asia, and Europe.

64GF Score

Get the complete analysis for MERFF

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

$0.22

Price

$0.17

GF Value

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