Spring Airlines Co (SHSE:601021) EBIT: ¥3,912 Mil (TTM As of Mar. 2026)


SHSE:601021 Spring Airlines Co Ltd SHSE:601021
69 GF Score
Price ¥46.77
GF Value ¥65.81
Valuation Modestly Undervalued
! 2 Warning Signs
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What is Spring Airlines Co EBIT?

Spring Airlines Co SHSE:601021 -0.95% 69 EBIT is ¥3,912 Mil as of Mar. 2026. GuruFocus rates SHSE:601021 with a GF Score™ of 69/100 and a GF Value™ of ¥65.81 (Modestly Undervalued). The stock has 2 warning signs investors should review.

Spring Airlines Co's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was ¥1,418 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was ¥3,912 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Spring Airlines Co's annualized ROC % for the quarter that ended in Mar. 2026 was 9.11%. Spring Airlines Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 16.73%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Spring Airlines Co's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 6.51%.


Spring Airlines Co  (SHSE:601021) EBIT Explanation

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

Spring Airlines Co'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: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=5499.104 * ( 1 - 24.01% )/( (43932.013 + 47779.101)/ 2 )
=4178.7691296/45855.557
=9.11 %

where

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))
=46876.574 - 4052.511 - ( 8829.782 - max(0, 11815.66 - 10707.71+8829.782))
=43932.013

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))
=48421.122 - 3608.717 - ( 8347.504 - max(0, 13194.197 - 10227.501+8347.504))
=47779.101

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

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

Spring Airlines Co'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: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=5671.856/( ( (33208.772 + max(-4254.314, 0)) + (34583.213 + max(-4537.439, 0)) )/ 2 )
=5671.856/( ( 33208.772 + 34583.213 )/ 2 )
=5671.856/33895.9925
=16.73 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(118.366 + 381.481 + 952.44) - (4052.511 + 0 + 1654.09)
=-4254.314

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(172.493 + 366.954 + 858.238) - (3608.717 + 0 + 2326.407)
=-4537.439

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:

Spring Airlines Co's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=3911.643/60043.844
=6.51 %

* 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.


Spring Airlines Co EBIT Related Terms


Spring Airlines Co EBIT Historical Data

* Premium members only.

The historical data trend for Spring Airlines Co'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.

Spring Airlines Co EBIT Chart

Spring Airlines Co Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 569.23 -2,735.60 3,285.97 3,188.01 3,516.10

Spring Airlines Co Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1,022.42 778.95 1,655.37 59.36 1,417.96

SHSE:601021 vs DAL, UAL, LUV: EBIT Comparison

For the Airlines subindustry, Spring Airlines Co'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.


Spring Airlines Co EV-to-EBIT vs Transportation Industry

For the Transportation industry and Industrials sector, Spring Airlines Co's EV-to-EBIT distribution charts can be found below:

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


SHSE:601021
69GF Score
Spring Airlines Co Ltd SHSE:601021
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Spring Airlines Co 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 ¥3,912 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 ¥3,912 Mil mean?
Spring Airlines Co (SHSE:601021) has a EBIT of ¥3,912 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Spring Airlines Co.
Is Spring Airlines Co's EBIT too high?
Spring Airlines Co's current EBIT is ¥3,912 Mil. Overall, Spring Airlines Co has a GF Score™ of 69/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Spring Airlines Co's EBIT compare to DAL and UAL?
Spring Airlines Co's EBIT of ¥3,912 Mil can be compared against companies in the Transportation 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 Transportation company?
A good EBIT depends on the Transportation 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 Spring Airlines Co. Spring Airlines Co's current EBIT is ¥3,912 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spring Airlines Co stock overvalued right now?
Based on GuruFocus' analysis, Spring Airlines Co (SHSE:601021) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥65.81, compared to a current price of ¥46.77 — trading 28.9% below its estimated fair value. The current EBIT is ¥3,912 Mil. Spring Airlines Co's overall GF Score™ is 69/100 with 2 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 Spring Airlines Co (SHSE:601021), the current EBIT is ¥3,912 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.

Is Spring Airlines Co (SHSE:601021) Overvalued in 2026?

Based on GuruFocus' analysis, Spring Airlines Co stock appears to be undervalued. The current stock price of ¥46.77 is trading 28.9% below its estimated GF Value™ of ¥65.81. GuruFocus considers Spring Airlines Co to be Modestly Undervalued.

Key valuation signals for SHSE:601021:

  • EBIT: ¥3,912 Mil
  • GF Value™: ¥65.81 vs. price of ¥46.77 (28.9% below fair value)
  • GF Score™: 69/100 with 2 warning signs

No single metric tells the full story. See the SHSE:601021 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Spring Airlines Co Business Description

Address No. 2599, Hongqiao Road, Spring Airlines Headquarters Office Building, Changning District, Shanghai, CHN, 200335
Spring Airlines Co Ltd is a China-based airline company, principally engaged in the airline transportation of passengers and freight. The company focuses on providing passenger and cargo air transportation services across mainland China, international routes, as well as Hong Kong, Macao, and Taiwan, along with other activities connected to the air transport industry.
69GF Score

Get the complete analysis for SHSE:601021

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

¥46.77
Price
¥65.81
GF Value