MRLN (Merlin) EBIT: $-90.36 Mil (TTM As of Mar. 2026)


MRLN Merlin Inc MRLN
6 GF Score
Price $5.63
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What is Merlin EBIT?

Merlin MRLN -6.17% 6 EBIT is $-90.36 Mil as of Mar. 2026. GuruFocus rates MRLN with a GF Score™ of 6/100.

Merlin's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $-90.36 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $-90.36 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Merlin's annualized ROC % for the quarter that ended in Mar. 2026 was -318.04%. Merlin's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -3,359.34%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Merlin's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -21.37%.

Merlin  (NAS:MRLN) EBIT Explanation

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

Merlin's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Sep. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=-108.048 * ( 1 - 0% )/( (50.869 + 17.077)/ 2 )
=-108.048/33.973
=-318.04 %

where

Invested Capital(Q: Sep. 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))
=87.813 - 10.124 - ( 67.086 - max(0, 52.053 - 78.873+67.086))
=50.869

Invested Capital(Q: Mar. 2026 )
=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))
=145.376 - 13.198 - ( 123.102 - max(0, 14.913 - 130.014+123.102))
=17.077

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

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

Merlin's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Sep. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-361.448/( ( (8.833 + max(-3.384, 0)) + (12.686 + max(-7.024, 0)) )/ 2 )
=-361.448/( ( 8.833 + 12.686 )/ 2 )
=-361.448/10.7595
=-3,359.34 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3.42 + 0 + 8.367) - (10.124 + 0 + 5.047)
=-3.384

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1.342 + 0 + 5.57) - (13.198 + 0 + 0.738)
=-7.024

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=-90.362/422.751
=-21.37 %

* 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.

Merlin EBIT Related Terms

Merlin EBIT Historical Data

* Premium members only.

The historical data trend for Merlin'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.

Merlin EBIT Chart

Merlin Annual Data
Trend Dec23 Dec24
EBIT
-35.45 -52.48

Merlin Quarterly Data
Dec23 Dec24 Mar25 Sep25 Mar26
EBIT 0.00 -11.87 -11.12 0.00 -90.36

MRLN vs EH, SWBI, NPK: EBIT Comparison

For the Aerospace & Defense subindustry, Merlin'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.

Merlin EV-to-EBIT vs Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, Merlin's EV-to-EBIT distribution charts can be found below:

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


MRLN
6GF Score
Merlin Inc MRLN
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Merlin 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 Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $-90.36 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 $-90.36 Mil mean?
Merlin (MRLN) has a EBIT of $-90.36 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Merlin.
Is Merlin's EBIT too high?
Merlin's current EBIT is $-90.36 Mil. Overall, Merlin has a GF Score™ of 6/100, reflecting its overall financial health beyond just this single metric.
How does Merlin's EBIT compare to EH and SWBI?
Merlin's EBIT of $-90.36 Mil can be compared against companies in the Aerospace & Defense 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 Aerospace & Defense company?
A good EBIT depends on the Aerospace & Defense 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 Merlin. Merlin's current EBIT is $-90.36 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merlin stock overvalued right now?
Merlin (MRLN) has a current EBIT of $-90.36 Mil. The current EBIT is $-90.36 Mil. Merlin's overall GF Score™ is 6/100. 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 Merlin (MRLN), the current EBIT is $-90.36 Mil as of Mar. 2026. 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.

Merlin Business Description

Address 129 South Street, Boston, MA, USA, 02111
Merlin Inc is focused on developing autonomous flight software for legacy and next-generation airborne systems. Its aircraft-agnostic, AI-based software supports takeoff-to-landing autonomous operations for military and civil aviation programs. The company aims to build an AI-based operating software platform intended to support autonomous flight operations across a range of aircraft types.
6GF Score

Get the complete analysis for MRLN

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

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