Advance Equity Holding AD Sofia (XBUL:ADVE) EBIT: лв-13.10 Mil (TTM As of Sep. 2019)

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What is Advance Equity Holding AD Sofia EBIT?

Advance Equity Holding AD Sofia XBUL:ADVE EBIT is лв-13.10 Mil as of Sep. 2019.

Advance Equity Holding AD Sofia's earnings before interest and taxes (EBIT) for the three months ended in Sep. 2019 was лв0.16 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Sep. 2019 was лв-13.10 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Advance Equity Holding AD Sofia's annualized ROC % for the quarter that ended in Sep. 2019 was 7.70%. Advance Equity Holding AD Sofia's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2019 was 6.25%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Advance Equity Holding AD Sofia's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Sep. 2019 was -96.40%.

Advance Equity Holding AD Sofia (XBUL:ADVE) EBIT Explanation

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

Advance Equity Holding AD Sofia's annualized ROC % for the quarter that ended in Sep. 2019 is calculated as:

	ROC % (Q: Sep. 2019 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2019 )	+	Invested Capital (Q: Sep. 2019 ))	/ count )
=	1.372 * ( 1 - 0% )	/	( (20.601	+	15.017)	/ 2 )
=	1.372	/	17.809
=	7.70 %

where

	Invested Capital		(Q: Jun. 2019 )
=	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	))
=	23.495	-	9.038	-	( 0.076	-	max(0, 17.75	-	11.606	+	0.076	))
=	20.601

	Invested Capital		(Q: Sep. 2019 )
=	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	))
=	22.317	-	13.448	-	( 0.142	-	max(0, 16.715	-	10.567	+	0.142	))
=	15.017

Note: The Operating Income data used here is four times the quarterly (Sep. 2019) data.

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

Advance Equity Holding AD Sofia's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2019 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Sep. 2019 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2019		Q: Sep. 2019
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	0.636	/	( ( (10.25 + max(-7.812, 0))	+	(10.116 + max(-7.629, 0)) )	/	2 )
=	0.636	/	( ( 10.25	+	10.116 )	/	2 )
=	0.636	/	10.183
=	6.25 %

where Working Capital is:

	Working Capital		(Q: Jun. 2019 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.554	+	6.178	+	0.0099999999999998)	-	(9.038	+	0	+	5.516)
=	-7.812

	Working Capital		(Q: Sep. 2019 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.881	+	4.942	+	0.226)	-	(13.448	+	0	+	0.23)
=	-7.629

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Sep. 2019) EBIT data.

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

Advance Equity Holding AD Sofia's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Sep. 2019 )
	=	-13.098	/	13.587
	=	-96.40 %

* 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.

Advance Equity Holding AD Sofia EBIT Related Terms

Advance Equity Holding AD Sofia EBIT Historical Data

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The historical data trend for Advance Equity Holding AD Sofia's EBIT can be seen below:

Advance Equity Holding AD Sofia EBIT Chart

Advance Equity Holding AD Sofia Annual Data

Trend

Dec13

Dec14

Dec15

Dec16

Dec17

Dec18

EBIT

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-1.91

-1.06

-0.89

0.29

-11.39

Advance Equity Holding AD Sofia Quarterly Data
	Jun14	Dec14	Mar15	Jun15	Sep15	Dec15	Mar16	Jun16	Sep16	Dec16	Mar17	Jun17	Sep17	Dec17	Mar18	Jun18	Sep18	Dec18	Jun19	Sep19
EBIT	Get a 7-Day Free Trial															-0.25	-0.67	-13.26	0.00	0.16

XBUL:ADVE vs MILC: EBIT Comparison

For the Asset Management subindustry, Advance Equity Holding AD Sofia'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.

Advance Equity Holding AD Sofia EV-to-EBIT vs Asset Management Industry

For the Asset Management industry and Financial Services sector, Advance Equity Holding AD Sofia's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Advance Equity Holding AD Sofia's EV-to-EBIT falls into.

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Advance Equity Holding AD Sofia 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 Sep. 2019 adds up the quarterly data reported by the company within the most recent 12 months, which was лв-13.10 Mil.

Frequently Asked Questions Learn more about EBIT →

What does a EBIT of лв-13.10 Mil mean?

Advance Equity Holding AD Sofia (XBUL:ADVE) has a EBIT of лв-13.10 Mil as of Sep. 2019. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Advance Equity Holding AD Sofia.

Is Advance Equity Holding AD Sofia's EBIT too high?

Advance Equity Holding AD Sofia's current EBIT is лв-13.10 Mil.

How does Advance Equity Holding AD Sofia's EBIT compare to MILC?

Advance Equity Holding AD Sofia's EBIT of лв-13.10 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 Advance Equity Holding AD Sofia. Advance Equity Holding AD Sofia's current EBIT is лв-13.10 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Advance Equity Holding AD Sofia stock overvalued right now?

Advance Equity Holding AD Sofia (XBUL:ADVE) has a current EBIT of лв-13.10 Mil. The current EBIT is лв-13.10 Mil. 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 Advance Equity Holding AD Sofia (XBUL:ADVE), the current EBIT is лв-13.10 Mil as of Sep. 2019. 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.

Advance Equity Holding AD Sofia Business Description

Industry Financial Services Asset Management

Comparable Companies LSE:TRR TSX:ENI.UN LSE:ALGW LSE:WSL TSXV:SGE BSE:CRPC ASX:WTL HKSE:00913 LSE:MAFL LSE:TAN TSX:PDV OCSE:SCD BOM:533170 MILC WAR:BPC XTAE:TNPV LSE:PRIM NGM:DIVI B HKSE:08088 IST:ETYAT

Address Boulevard Hristo Botev No. 57 6, Sofia, BGR, 1303

Website http://www.advancequity.bg

Advance Equity Holding AD Sofia is an investment company. The company focuses its investments on new start-up companies that have high growth potential.