Merida Industry Co (TPE:9914) EBIT: NT$1,801 Mil (TTM As of Dec. 2025)


TPE:9914 Merida Industry Co Ltd TPE:9914
67 GF Score
Price NT$73.60
GF Value NT$136.73
Valuation Significantly Undervalued
! 6 Warning Signs
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What is Merida Industry Co EBIT?

Merida Industry Co TPE:9914 +1.10% 67 EBIT is NT$1,801 Mil as of Dec. 2025. GuruFocus rates TPE:9914 with a GF Score™ of 67/100 and a GF Value™ of NT$136.73 (Significantly Undervalued). The stock has 6 warning signs investors should review.

Merida Industry Co's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2025 was NT$-278 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was NT$1,801 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Merida Industry Co's annualized ROC % for the quarter that ended in Dec. 2025 was -0.53%. Merida Industry Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -12.07%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Merida Industry Co's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 7.08%.


Merida Industry Co  (TPE:9914) EBIT Explanation

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

Merida Industry Co'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: Sep. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=-157.884 * ( 1 - 12.19% )/( (26086.143 + 26497.084)/ 2 )
=-138.6379404/26291.6135
=-0.53 %

where

Invested Capital(Q: Sep. 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))
=36125.113 - 5909.772 - ( 4129.198 - max(0, 12025.874 - 16716.931+4129.198))
=26086.143

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))
=35203.007 - 4547.996 - ( 4157.927 - max(0, 11464.275 - 16006.72+4157.927))
=26497.084

Note: The Operating Income data used here is four times the quarterly (Dec. 2025) data.

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

Merida Industry Co'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: Sep. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-1113.048/( ( (2431.367 + max(6497.781, 0)) + (2449.989 + max(7059.913, 0)) )/ 2 )
=-1113.048/( ( 8929.148 + 9509.902 )/ 2 )
=-1113.048/9219.525
=-12.07 %

where Working Capital is:

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(4061.698 + 8166.909 + 282.532) - (5909.772 + 0 + 103.586)
=6497.781

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3031.109 + 8469.139 + 209.786) - (4547.996 + 0 + 102.125)
=7059.913

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2025) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2025 )
=1800.983/25449.587
=7.08 %

* 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.


Merida Industry Co EBIT Related Terms


Merida Industry Co EBIT Historical Data

* Premium members only.

The historical data trend for Merida Industry 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.

Merida Industry Co EBIT Chart

Merida Industry 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 6,252.18 4,575.28 2,978.16 -492.84 1,800.98

Merida Industry Co Quarterly Data
Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 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 -3,199.57 641.95 623.16 814.14 -278.26

TPE:9914 vs AS, HAS, LTH: EBIT Comparison

For the Leisure subindustry, Merida Industry 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.


Merida Industry Co EV-to-EBIT vs Travel & Leisure Industry

For the Travel & Leisure industry and Consumer Cyclical sector, Merida Industry Co's EV-to-EBIT distribution charts can be found below:

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


TPE:9914
67GF Score
Merida Industry Co Ltd TPE:9914
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Merida Industry 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 Dec. 2025 adds up the quarterly data reported by the company within the most recent 12 months, which was NT$1,801 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 NT$1,801 Mil mean?
Merida Industry Co (TPE:9914) has a EBIT of NT$1,801 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Merida Industry Co.
Is Merida Industry Co's EBIT too high?
Merida Industry Co's current EBIT is NT$1,801 Mil. Overall, Merida Industry Co has a GF Score™ of 67/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Merida Industry Co's EBIT compare to AS and HAS?
Merida Industry Co's EBIT of NT$1,801 Mil can be compared against companies in the Travel & Leisure 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 Travel & Leisure company?
A good EBIT depends on the Travel & Leisure 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 Merida Industry Co. Merida Industry Co's current EBIT is NT$1,801 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merida Industry Co stock overvalued right now?
Based on GuruFocus' analysis, Merida Industry Co (TPE:9914) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$136.73, compared to a current price of NT$73.60 — trading 46.2% below its estimated fair value. The current EBIT is NT$1,801 Mil. Merida Industry Co's overall GF Score™ is 67/100 with 6 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 Merida Industry Co (TPE:9914), the current EBIT is NT$1,801 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 Merida Industry Co (TPE:9914) Overvalued in 2026?

Based on GuruFocus' analysis, Merida Industry Co stock appears to be undervalued. The current stock price of NT$73.60 is trading 46.2% below its estimated GF Value™ of NT$136.73. GuruFocus considers Merida Industry Co to be Significantly Undervalued.

Key valuation signals for TPE:9914:

  • EBIT: NT$1,801 Mil
  • GF Value™: NT$136.73 vs. price of NT$73.60 (46.2% below fair value)
  • GF Score™: 67/100 with 6 warning signs

No single metric tells the full story. See the TPE:9914 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Merida Industry Co Business Description

Address No. 116, Meigang Road, Dacun Township, Changhua County, Yuanlin, TWN
Merida Industry Co Ltd is a manufacturer and distributor of bicycles and bicycle-related components, domiciled in Taiwan. The company produces bicycles for both recreational and professional use. Products include mountain bicycles, road and racing bicycles, bicycle motocross, or BMX, folding bicycles, children and youth bicycles, electric bicycles, helmets, components, and related parts and accessories. It distributes bicycles and components both domestically and internationally, and products are largely sold under the Merida brand name.
67GF Score

Get the complete analysis for TPE:9914

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

NT$73.60
Price
NT$136.73
GF Value