TORM (TRMD) EBIT: $421 Mil (TTM As of Mar. 2026)

What is TORM EBIT?

TORM TRMD -3.48% 73 EBIT is $421 Mil as of Mar. 2026. GuruFocus rates TRMD with a GF Score™ of 73/100 and a GF Value™ of $20.33 (Significantly Overvalued). The stock has 6 warning signs investors should review.

TORM's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $143 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $421 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. TORM's annualized ROC % for the quarter that ended in Mar. 2026 was 16.69%. TORM's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 18.34%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. TORM's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 11.03%.

TORM (NAS:TRMD) EBIT Explanation

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

TORM'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 )
=	549.2 * ( 1 - 1.29% )	/	( (3195.2	+	3299.8)	/ 2 )
=	542.11532	/	3247.5
=	16.69 %

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	))
=	3367	-	41.3	-	( 158.1	-	max(0, 401.4	-	531.9	+	158.1	))
=	3195.2

	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	))
=	3532.3	-	67.9	-	( 196.4	-	max(0, 410.9	-	575.5	+	196.4	))
=	3299.8

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

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

TORM'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 )
=	571.6	/	( ( (2821.9 + max(248.4, 0))	+	(2941.29 + max(222.2, 0)) )	/	2 )
=	571.6	/	( ( 3070.3	+	3163.49 )	/	2 )
=	571.6	/	3116.895
=	18.34 %

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)
=	(214.7	+	66.5	+	79.8)	-	(41.3	+	2.3	+	69)
=	248.4

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(249.6	+	82.5	+	14.3)	-	(67.9	+	2.6	+	53.7)
=	222.2

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:

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2026 )
	=	421.2	/	3817.689
	=	11.03 %

* 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.

TORM EBIT Related Terms

TORM EBIT Historical Data

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

TORM EBIT Chart

TORM Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

EBIT

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1.64

605.40

708.10

679.80

364.30

TORM 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															86.10	78.20	102.50	97.60	142.90

TRMD vs WMB, EPD, KMI: EBIT Comparison

For the Oil & Gas Midstream subindustry, TORM'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.

TORM EV-to-EBIT vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, TORM's EV-to-EBIT distribution charts can be found below:

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

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73GF Score

TORM PLC TRMD

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

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TORM 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 $421 Mil.

Frequently Asked Questions Learn more about EBIT →

What does a EBIT of $421 Mil mean?

TORM (TRMD) has a EBIT of $421 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on TORM.

Is TORM's EBIT too high?

TORM's current EBIT is $421 Mil. Overall, TORM has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does TORM's EBIT compare to WMB and EPD?

TORM's EBIT of $421 Mil can be compared against companies in the Oil & Gas 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 Oil & Gas company?

A good EBIT depends on the Oil & Gas 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 TORM. TORM's current EBIT is $421 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is TORM stock overvalued right now?

Based on GuruFocus' analysis, TORM (TRMD) is currently considered Significantly Overvalued. The stock's GF Value™ is $20.33, compared to a current price of $27.71 — trading 36.3% above its estimated fair value. The current EBIT is $421 Mil. TORM's overall GF Score™ is 73/100 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 TORM (TRMD), the current EBIT is $421 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 TORM (TRMD) Overvalued in 2026?

Based on GuruFocus' analysis, TORM stock appears to be overvalued. The current stock price of $27.71 is trading 36.3% above its estimated GF Value™ of $20.33. GuruFocus considers TORM to be Significantly Overvalued.

Key valuation signals for TRMD:

EBIT: $421 Mil
GF Value™: $20.33 vs. price of $27.71 (36.3% above fair value)
GF Score™: 73/100 with 6 warning signs

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

TORM Business Description

Industry Energy Oil & Gas

Comparable Companies OCSE:ATLA DKK TSX:ENB WMB EPD TSX:TRP KMI ET MPLX TRGP OKE LNG VG CQP TSX:PPL SHSE:601872 WES PAA HKSE:01138 DTM TSX:ALA

Other Exchanges TRMDAc:UK 0RG4:UK TRMD A:Denmark 1T4:Germany TRMD:Austria

Address 120 Cannon Street, 4th Floor, London, GBR, EC4N 6AS

Website https://www.torm.com

TORM PLC operates as a shipping company mainly owning and operating a fleet of product tankers. It is engaged in the transportation of refined oil products and clean petroleum products, including gasoline, jet fuel, naphtha, and diesel oil. The Company operates through two segments: the Tanker segment and the Marine Engineering segment, deriving the majority of its revenue from the Tanker segment.

73GF Score

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

$27.71

Price

$20.33

GF Value

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