Man Group (STU:M3N) EBIT: €239 Mil (TTM As of Dec. 2025)


STU:M3N Man Group PLC STU:M3N
84 GF Score
Price €3.40
GF Value €2.60
Valuation Significantly Overvalued
! 10 Warning Signs
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What is Man Group EBIT?

Man Group STU:M3N +1.79% 84 EBIT is €239 Mil as of Dec. 2025. GuruFocus rates STU:M3N with a GF Score™ of 84/100 and a GF Value™ of €2.60 (Significantly Overvalued). The stock has 10 warning signs investors should review.

Man Group's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2025 was €162 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was €239 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Man Group's annualized ROC % for the quarter that ended in Dec. 2025 was 6.40%. Man Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 238.84%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Man Group's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 6.16%.

Man Group  (STU:M3N) EBIT Explanation

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

Man Group'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 )
=331.352 * ( 1 - 31.11% )/( (3324.078 + 3804.57)/ 2 )
=228.2683928/3564.324
=6.40 %

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))
=3911.037 - 563.55 - ( 109.242 - max(0, 563.55 - 586.959+109.242))
=3324.078

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))
=4065.04 - 286.944 - ( 147.742 - max(0, 817.278 - 790.804+147.742))
=3804.57

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:

Man Group'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 )
=324.52/( ( (125.715 + max(-85.833, 0)) + (146.034 + max(-591.822, 0)) )/ 2 )
=324.52/( ( 125.715 + 146.034 )/ 2 )
=324.52/135.8745
=238.84 %

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)
=(398.82 + 0 + 78.897) - (563.55 + 0 + 0)
=-85.833

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(31.598 + 0 + 161.406) - (286.944 + 0 + 497.882)
=-591.822

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:

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2025 )
=238.556/3872.251
=6.16 %

* 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.

Man Group EBIT Related Terms

Man Group EBIT Historical Data

* Premium members only.

The historical data trend for Man Group'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.

Man Group EBIT Chart

Man Group 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 532.77 715.55 276.02 404.92 237.41

Man Group 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 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 162.31 215.53 183.36 76.30 162.26

STU:M3N vs BLK, BX, KKR: EBIT Comparison

For the Asset Management subindustry, Man Group'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.

Man Group EV-to-EBIT vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Man Group's EV-to-EBIT distribution charts can be found below:

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


STU:M3N
84GF Score
Man Group PLC STU:M3N
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Man Group 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 €239 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 €239 Mil mean?
Man Group (STU:M3N) has a EBIT of €239 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Man Group.
Is Man Group's EBIT too high?
Man Group's current EBIT is €239 Mil. Overall, Man Group has a GF Score™ of 84/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Man Group's EBIT compare to BLK and BX?
Man Group's EBIT of €239 Mil can be compared against companies in the Asset 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 an Asset Management company?
A good EBIT depends on the Asset 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 Man Group. Man Group's current EBIT is €239 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Man Group stock overvalued right now?
Based on GuruFocus' analysis, Man Group (STU:M3N) is currently considered Significantly Overvalued. The stock's GF Value™ is €2.60, compared to a current price of €3.40 — trading 30.9% above its estimated fair value. The current EBIT is €239 Mil. Man Group's overall GF Score™ is 84/100 with 10 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 Man Group (STU:M3N), the current EBIT is €239 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 Man Group (STU:M3N) Overvalued in 2026?

Based on GuruFocus' analysis, Man Group stock appears to be overvalued. The current stock price of €3.40 is trading 30.9% above its estimated GF Value™ of €2.60. GuruFocus considers Man Group to be Significantly Overvalued.

Key valuation signals for STU:M3N:

  • EBIT: €239 Mil
  • GF Value™: €2.60 vs. price of €3.40 (30.9% above fair value)
  • GF Score™: 84/100 with 10 warning signs

No single metric tells the full story. See the STU:M3N stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Man Group Business Description

Other Exchanges MNGPF:USAEMGl:UKEMG:UK
Address 2 Swan Lane, Riverbank House, London, GBR, EC4R 3AD
Man Group PLC is an investment management firm. It provides a diverse range of alternative and traditional quantitative investment strategies to a predominantly institutional client base. It invests across a diverse range of strategies and asset classes, with a mix of long-only and alternative strategies run on a discretionary and quantitative basis, across liquid and private markets. The company earns the majority of its revenue in the form of Management fee which is charged as a percentage of assets under management or net asset value, and a performance fee, which is charged as a percentage of investment performance above a benchmark return.
84GF Score

Get the complete analysis for STU:M3N

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

€3.40
Price
€2.60
GF Value