Union Steel Holdings (SGX:ZB9) EBIT: S$10.7 Mil (TTM As of Dec. 2025)

What is Union Steel Holdings EBIT?

Union Steel Holdings SGX:ZB9 45 EBIT is S$10.7 Mil as of Dec. 2025. GuruFocus rates SGX:ZB9 with a GF Score™ of 45/100 and a GF Value™ of S$0.50 (Fairly Valued). The stock has 5 warning signs investors should review.

Union Steel Holdings's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2025 was S$6.2 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was S$10.7 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Union Steel Holdings's annualized ROC % for the quarter that ended in Dec. 2025 was 2.83%. Union Steel Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 10.06%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Union Steel Holdings's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 9.54%.

Union Steel Holdings (SGX:ZB9) EBIT Explanation

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

Union Steel Holdings'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 )
=	4.926 * ( 1 - 11.07% )	/	( (149.139	+	160.144)	/ 2 )
=	4.3806918	/	154.6415
=	2.83 %

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	))
=	179.088	-	9.876	-	( 20.073	-	max(0, 47.486	-	74.393	+	20.073	))
=	149.139

	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	))
=	196.486	-	19.616	-	( 16.726	-	max(0, 51.527	-	76.606	+	16.726	))
=	160.144

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:

Union Steel Holdings'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 )
=	12.344	/	( ( (80.55 + max(30.625, 0))	+	(93.89 + max(40.264, 0)) )	/	2 )
=	12.344	/	( ( 111.175	+	134.154 )	/	2 )
=	12.344	/	122.6645
=	10.06 %

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)
=	(18.653	+	26.126	+	3.651)	-	(9.876	+	0	+	7.929)
=	30.625

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(32.401	+	27.479	+	0)	-	(19.616	+	0	+	0)
=	40.264

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:

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2025 )
	=	10.684	/	111.995
	=	9.54 %

* 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.

Union Steel Holdings EBIT Related Terms

Union Steel Holdings EBIT Historical Data

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The historical data trend for Union Steel Holdings's EBIT can be seen below:

Union Steel Holdings EBIT Chart

Union Steel Holdings Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Jun25

EBIT

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10.53

9.85

14.50

16.14

12.64

Union Steel Holdings 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															9.18	6.95	8.13	4.51	6.17

SGX:ZB9 vs WM, RSG, WCN: EBIT Comparison

For the Waste Management subindustry, Union Steel 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.

Union Steel Holdings EV-to-EBIT vs Waste Management Industry

For the Waste Management industry and Industrials sector, Union Steel Holdings's EV-to-EBIT distribution charts can be found below:

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

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45GF Score

Union Steel Holdings Ltd SGX:ZB9

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

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Union Steel 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. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was S$10.7 Mil.

Frequently Asked Questions Learn more about EBIT →

What does a EBIT of S$10.7 Mil mean?

Union Steel Holdings (SGX:ZB9) has a EBIT of S$10.7 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Union Steel Holdings.

Is Union Steel Holdings' EBIT too high?

Union Steel Holdings' current EBIT is S$10.7 Mil. Overall, Union Steel Holdings has a GF Score™ of 45/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does Union Steel Holdings' EBIT compare to WM and RSG?

Union Steel Holdings' EBIT of S$10.7 Mil can be compared against companies in the Waste Management 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 Waste Management company?

A good EBIT depends on the Waste Management 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 Union Steel Holdings. Union Steel Holdings's current EBIT is S$10.7 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Union Steel Holdings stock overvalued right now?

Based on GuruFocus' analysis, Union Steel Holdings (SGX:ZB9) is currently considered Fairly Valued. The stock's GF Value™ is S$0.50, compared to a current price of S$0.49 — trading 2% below its estimated fair value. The current EBIT is S$10.7 Mil. Union Steel Holdings' overall GF Score™ is 45/100 with 5 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 Union Steel Holdings (SGX:ZB9), the current EBIT is S$10.7 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 Union Steel Holdings (SGX:ZB9) Overvalued in 2026?

Based on GuruFocus' analysis, Union Steel Holdings stock appears to be undervalued. The current stock price of S$0.49 is trading 2% below its estimated GF Value™ of S$0.50. GuruFocus considers Union Steel Holdings to be Fairly Valued.

Key valuation signals for SGX:ZB9:

EBIT: S$10.7 Mil
GF Value™: S$0.50 vs. price of S$0.49 (2% below fair value)
GF Score™: 45/100 with 5 warning signs

No single metric tells the full story. See the SGX:ZB9 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Union Steel Holdings Business Description

Industry Industrials Waste Management

Comparable Companies SGX:1E3 SGX:NEX SGX:L23 SGX:5CT SGX:SES WM RSG WCN XPAR:VIE CLH GFL XMAD:FCC CWST XBRU:UMI SZSE:002340 SHSE:603568 SHSE:603588 ASX:CWY HKSE:00257 TSX:SES

Address 33 Pioneer Road North, Singapore, SGP, 628474

Website https://www.unionsteel.com.sg

Union Steel Holdings Ltd is an investment holding company. Its operating segments are Metals, which include import and export of scrap metals, waste collection services, trading, and leasing of metal products.; Scaffolding that provides scaffolding services and related consultancy services; Engineering, including civil construction and engineering work, manufacturing of motor vehicle bodies, and sale and rental of marine deck equipment; and Others that include income from the rental of properties. The company generates the majority of revenue from the Metals segment. Geographically, the company operates mainly in Singapore, followed by India, Thailand, Malaysia, Indonesia, Pakistan, China, Bangladesh, and Other Countries.

45GF Score

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

S$0.49

Price

S$0.50

GF Value

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