CEZ AS (WAR:CEZ) EBIT: zł13,228 Mil (TTM As of Mar. 2026)


WAR:CEZ CEZ AS WAR:CEZ
82 GF Score
Price zł211.60
GF Value zł188.81
Valuation Modestly Overvalued
! 6 Warning Signs
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What is CEZ AS EBIT?

CEZ AS WAR:CEZ -0.28% 82 EBIT is zł13,228 Mil as of Mar. 2026. GuruFocus rates WAR:CEZ with a GF Score™ of 82/100 and a GF Value™ of zł188.81 (Modestly Overvalued). The stock has 6 warning signs investors should review.

CEZ AS's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was zł3,942 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was zł13,228 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. CEZ AS's annualized ROC % for the quarter that ended in Mar. 2026 was 8.38%. CEZ AS's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 15.05%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. CEZ AS's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 8.46%.


CEZ AS  (WAR:CEZ) EBIT Explanation

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

CEZ AS'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 )
=15216.22 * ( 1 - 21.73% )/( (137017.813 + 147201.939)/ 2 )
=11909.735394/142109.876
=8.38 %

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))
=153390.363 - 11238.332 - ( 6169.578 - max(0, 31540.671 - 36674.889+6169.578))
=137017.813

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))
=161779.92 - 9225.085 - ( 9821.956 - max(0, 39676.469 - 45029.365+9821.956))
=147201.939

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

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

CEZ AS'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 )
=15767.552/( ( (101059.301 + max(3151.671, 0)) + (100904.266 + max(4351.911, 0)) )/ 2 )
=15767.552/( ( 104210.972 + 105256.177 )/ 2 )
=15767.552/104733.5745
=15.05 %

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)
=(9115.455 + 4011.219 + 13986.753) - (11238.332 + 0 + 12723.424)
=3151.671

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(9596.869 + 3583.487 + 21362.568) - (9225.085 + 0 + 20965.928)
=4351.911

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:

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=13228.27/156395.131
=8.46 %

* 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.


CEZ AS EBIT Related Terms


CEZ AS EBIT Historical Data

* Premium members only.

The historical data trend for CEZ AS'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.

CEZ AS EBIT Chart

CEZ AS 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 3,231.80 17,236.75 15,162.39 14,746.09 14,630.75

CEZ AS 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 4,678.27 3,065.16 2,737.09 3,484.14 3,941.89

WAR:CEZ vs NEE, SO, DUK: EBIT Comparison

For the Utilities - Regulated Electric subindustry, CEZ AS'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.


CEZ AS EV-to-EBIT vs Utilities - Regulated Industry

For the Utilities - Regulated industry and Utilities sector, CEZ AS's EV-to-EBIT distribution charts can be found below:

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


WAR:CEZ
82GF Score
CEZ AS WAR:CEZ
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

CEZ AS 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 zł13,228 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 zł13,228 Mil mean?
CEZ AS (WAR:CEZ) has a EBIT of zł13,228 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on CEZ AS.
Is CEZ AS's EBIT too high?
CEZ AS's current EBIT is zł13,228 Mil. Overall, CEZ AS has a GF Score™ of 82/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does CEZ AS's EBIT compare to NEE and SO?
CEZ AS's EBIT of zł13,228 Mil can be compared against companies in the Utilities - Regulated 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 Utilities - Regulated company?
A good EBIT depends on the Utilities - Regulated 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 CEZ AS. CEZ AS's current EBIT is zł13,228 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CEZ AS stock overvalued right now?
Based on GuruFocus' analysis, CEZ AS (WAR:CEZ) is currently considered Modestly Overvalued. The stock's GF Value™ is zł188.81, compared to a current price of zł211.60 — trading 12.1% above its estimated fair value. The current EBIT is zł13,228 Mil. CEZ AS's overall GF Score™ is 82/100 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 CEZ AS (WAR:CEZ), the current EBIT is zł13,228 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 CEZ AS (WAR:CEZ) Overvalued in 2026?

Based on GuruFocus' analysis, CEZ AS stock appears to be overvalued. The current stock price of zł211.60 is trading 12.1% above its estimated GF Value™ of zł188.81. GuruFocus considers CEZ AS to be Modestly Overvalued.

Key valuation signals for WAR:CEZ:

  • EBIT: zł13,228 Mil
  • GF Value™: zł188.81 vs. price of zł211.60 (12.1% above fair value)
  • GF Score™: 82/100 with 6 warning signs

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


CEZ AS Business Description

Address Duhova 2/1444, Praha 4, Prague, CZE, 140 53
CEZ AS is a Czech energy company of which the government of the Czech Republic is the majority shareholder. The core business of the company is the generation, distribution, trade, and sale of electricity and heat, coal mining, trading in commodities and provision of complex energy services, distribution, trade, and sale of natural gas, and the provision of telecommunications services. Total energy production is mainly split between facilities utilizing thermal and nuclear inputs. CEZ segments comprise Generation; Distribution; Sales and Mining. The group operates mainly in Czechia and in Central and Western European markets.
82GF Score

Get the complete analysis for WAR:CEZ

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

zł211.60
Price
zł188.81
GF Value