PGRWW (Progress Acquisition) EBIT: $-2.67 Mil (TTM As of Sep. 2022)

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PGRWW Progress Acquisition Corp PGRWW
24 GF Score
Price $0.00
! 1 Warning Sign
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What is Progress Acquisition EBIT?

Progress Acquisition PGRWW 24 EBIT is $-2.67 Mil as of Sep. 2022. GuruFocus rates PGRWW with a GF Score™ of 24/100. The stock has 1 warning sign investors should review.

Progress Acquisition's earnings before interest and taxes (EBIT) for the three months ended in Sep. 2022 was $-0.86 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2022 was $-2.67 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Progress Acquisition's annualized ROC % for the quarter that ended in Sep. 2022 was -1.99%. Progress Acquisition's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2022 was %.

EBIT is also linked to Joel Greenblatt's definition of earnings yield.

Progress Acquisition  (NAS:PGRWW) EBIT Explanation

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

Progress Acquisition's annualized ROC % for the quarter that ended in Sep. 2022 is calculated as:

ROC % (Q: Sep. 2022 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Jun. 2022 ) + Invested Capital (Q: Sep. 2022 ))/ count )
=-3.444 * ( 1 - 0% )/( (172.707 + 173.25)/ 2 )
=-3.444/172.9785
=-1.99 %

where

Invested Capital(Q: Jun. 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))
=172.891 - 0.363 - ( 0.002 - max(0, 0.37 - 0.191+0.002))
=172.707

Invested Capital(Q: Sep. 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))
=173.367 - 0.418 - ( 0.021 - max(0, 0.43 - 0.129+0.021))
=173.25

Note: The Operating Income data used here is four times the quarterly (Sep. 2022) data.

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

Progress Acquisition's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2022 is calculated as:

ROC (Joel Greenblatt) %(Q: Sep. 2022 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Jun. 2022  Q: Sep. 2022
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-3.444/( ( (0 + max(-0.174, 0)) + (0 + max(-0.31, 0)) )/ 2 )
=-3.444/( ( 0 + 0 )/ 2 )
=-3.444/0
= %

where Working Capital is:

Working Capital(Q: Jun. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 0.189) - (0.363 + 0 + 0)
=-0.174

Working Capital(Q: Sep. 2022 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0 + 0 + 0.108) - (0.418 + 0 + 0)
=-0.31

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2022) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Sep. 2022 )
=-2.668/0.000
= %

* 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.

Progress Acquisition EBIT Related Terms

Progress Acquisition EBIT Historical Data

* Premium members only.

The historical data trend for Progress Acquisition'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.

Progress Acquisition EBIT Chart

Progress Acquisition Annual Data
Trend Dec20 Dec21
EBIT
0.00 -0.99

Progress Acquisition Quarterly Data
Oct20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22
EBIT Get a 7-Day Free Trial -0.27 -0.33 -0.23 -1.26 -0.86

PGRWW vs APXI, INKA, BRIV: EBIT Comparison

For the Shell Companies subindustry, Progress Acquisition'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.

Progress Acquisition EV-to-EBIT vs Diversified Financial Services Industry

For the Diversified Financial Services industry and Financial Services sector, Progress Acquisition's EV-to-EBIT distribution charts can be found below:

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


PGRWW
24GF Score
Progress Acquisition Corp PGRWW
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Progress Acquisition 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 Sep. 2022 adds up the quarterly data reported by the company within the most recent 12 months, which was $-2.67 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 $-2.67 Mil mean?
Progress Acquisition (PGRWW) has a EBIT of $-2.67 Mil as of Sep. 2022. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Progress Acquisition.
Is Progress Acquisition's EBIT too high?
Progress Acquisition's current EBIT is $-2.67 Mil. Overall, Progress Acquisition has a GF Score™ of 24/100, reflecting its overall financial health beyond just this single metric.
How does Progress Acquisition's EBIT compare to APXI and INKA?
Progress Acquisition's EBIT of $-2.67 Mil can be compared against companies in the Diversified Financial Services 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 Diversified Financial Services company?
A good EBIT depends on the Diversified Financial Services 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 Progress Acquisition. Progress Acquisition's current EBIT is $-2.67 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Progress Acquisition stock overvalued right now?
Progress Acquisition (PGRWW) has a current EBIT of $-2.67 Mil. The current EBIT is $-2.67 Mil. Progress Acquisition's overall GF Score™ is 24/100 with 1 warning sign 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 Progress Acquisition (PGRWW), the current EBIT is $-2.67 Mil as of Sep. 2022. 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.

Progress Acquisition Business Description

Address 50 Milk Street, 16th Floor, Boston, TX, USA, 02109
Progress Acquisition Corp is a blank check company.
24GF Score

Get the complete analysis for PGRWW

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

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