SMTK (SmartKem) EBIT: $-9.75 Mil (TTM As of Mar. 2026)

What is SmartKem EBIT?

SmartKem SMTK -11.15% 49 EBIT is $-9.75 Mil as of Mar. 2026. GuruFocus rates SMTK with a GF Score™ of 49/100 and a GF Value™ of $13.26 (Possible Value Trap). The stock has 4 warning signs investors should review.

SmartKem's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $-2.53 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $-9.75 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. SmartKem's annualized ROC % for the quarter that ended in Mar. 2026 was -621.27%. SmartKem's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -1,381.82%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. SmartKem's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 655.07%.

SmartKem (NAS:SMTK) EBIT Explanation

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

SmartKem'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 )
=	-10.108 * ( 1 - 0% )	/	( (2.094	+	1.16)	/ 2 )
=	-10.108	/	1.627
=	-621.27 %

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	))
=	2.288	-	4.603	-	( 0.374	-	max(0, 5.91	-	1.501	+	0.374	))
=	2.094

	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	))
=	9.477	-	3.357	-	( 7.566	-	max(0, 3.841	-	8.801	+	7.566	))
=	1.16

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

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

SmartKem'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 )
=	-10.108	/	( ( (0.787 + max(-4.382, 0))	+	(0.676 + max(-2.939, 0)) )	/	2 )
=	-10.108	/	( ( 0.787	+	0.676 )	/	2 )
=	-10.108	/	0.7315
=	-1,381.82 %

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)
=	(0.003	+	0	+	0.326)	-	(4.603	+	0	+	0.108)
=	-4.382

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.003	+	0	+	0.521)	-	(3.357	+	0	+	0.106)
=	-2.939

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:

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2026 )
	=	-9.754	/	-1.489
	=	655.07 %

* 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.

SmartKem EBIT Related Terms

SmartKem EBIT Historical Data

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

SmartKem EBIT Chart

SmartKem Annual Data

Trend

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

EBIT

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-17.11

-9.69

-9.90

-10.39

-10.46

SmartKem 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															-3.23	-4.50	-3.13	0.41	-2.53

SMTK vs SUNE, MAXNQ, APWL: EBIT Comparison

For the Semiconductor Equipment & Materials subindustry, SmartKem'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.

SmartKem EV-to-EBIT vs Semiconductors Industry

For the Semiconductors industry and Technology sector, SmartKem's EV-to-EBIT distribution charts can be found below:

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

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49GF Score

SmartKem Inc SMTK

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

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SmartKem 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 $-9.75 Mil.

Frequently Asked Questions Learn more about EBIT →

What does a EBIT of $-9.75 Mil mean?

SmartKem (SMTK) has a EBIT of $-9.75 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on SmartKem.

Is SmartKem's EBIT too high?

SmartKem's current EBIT is $-9.75 Mil. Overall, SmartKem has a GF Score™ of 49/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does SmartKem's EBIT compare to SUNE and MAXNQ?

SmartKem's EBIT of $-9.75 Mil can be compared against companies in the Semiconductors 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 Semiconductors company?

A good EBIT depends on the Semiconductors 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 SmartKem. SmartKem's current EBIT is $-9.75 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is SmartKem stock overvalued right now?

Based on GuruFocus' analysis, SmartKem (SMTK) is currently considered Possible Value Trap. The stock's GF Value™ is $13.26, compared to a current price of $0.26 — trading 98% below its estimated fair value. The current EBIT is $-9.75 Mil. SmartKem's overall GF Score™ is 49/100 with 4 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 SmartKem (SMTK), the current EBIT is $-9.75 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 SmartKem (SMTK) Overvalued in 2026?

Based on GuruFocus' analysis, SmartKem stock appears to be undervalued. The current stock price of $0.26 is trading 98% below its estimated GF Value™ of $13.26. GuruFocus considers SmartKem to be Possible Value Trap.

Key valuation signals for SMTK:

EBIT: $-9.75 Mil
GF Value™: $13.26 vs. price of $0.26 (98% below fair value)
GF Score™: 49/100 with 4 warning signs

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

SmartKem Business Description

Industry Technology Semiconductors

Comparable Companies SUNE MAXNQ APWL GSLR PRSO LEDS ZEO SMXT GUER XAMS:ASML LRCX AMAT KLAC TSE:8035 TSE:6857 SZSE:002371 TER SHSE:688820 XAMS:ASM SZSE:301666

Address Delaunays Road, Manchester Technology Center, Hexagon Tower, Blackley, Manchester, GBR, M9 8GQ

Website https://www.smartkem.com

SmartKem Inc focuses on the design, development, industrialization, and technology transfer of low-temperature, solution-deposited organic semiconductors for transistor backplanes. The company's semiconductor platform can be used in several applications, including mini-LED displays, AMOLED displays, fingerprint sensors, and logic circuits. The company derives revenue from the sale of TRUFLEX inks and demonstration products.

49GF Score

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

$0.26

Price

$13.26

GF Value

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