Imperial Brands (XTER:ITB) EBIT: €3,575 Mil (TTM As of Mar. 2026)


XTER:ITB Imperial Brands PLC XTER:ITB
71 GF Score
Price €32.11
GF Value €20.89
Valuation Significantly Overvalued
! 3 Warning Signs
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What is Imperial Brands EBIT?

Imperial Brands XTER:ITB +0.66% 71 EBIT is €3,575 Mil as of Mar. 2026. GuruFocus rates XTER:ITB with a GF Score™ of 71/100 and a GF Value™ of €20.89 (Significantly Overvalued). The stock has 3 warning signs investors should review.

Imperial Brands's earnings before interest and taxes (EBIT) for the six months ended in Mar. 2026 was €1,196 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was €3,575 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Imperial Brands's annualized ROC % for the quarter that ended in Mar. 2026 was 9.23%. Imperial Brands's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 109.86%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Imperial Brands's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 9.49%.


Imperial Brands  (XTER:ITB) EBIT Explanation

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

Imperial Brands'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: Sep. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=3400.026 * ( 1 - 30.59% )/( (25458.681 + 25689.347)/ 2 )
=2359.9580466/25574.014
=9.23 %

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))
=33061.054 - 11104.784 - ( 1656.795 - max(0, 13648.119 - 10145.708+1656.795))
=25458.681

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))
=32560.907 - 11037.4 - ( 573.207 - max(0, 13782.333 - 9616.493+573.207))
=25689.347

Note: The Operating Income data used here is two times the semi-annual (Mar. 2026) data.

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

Imperial Brands'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: Sep. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=2392.014/( ( (2184.114 + max(-4060.817, 0)) + (2170.573 + max(-2135.974, 0)) )/ 2 )
=2392.014/( ( 2184.114 + 2170.573 )/ 2 )
=2392.014/2177.3435
=109.86 %

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)
=(2740.216 + 5141.935 + 370.735) - (11104.784 + 0 + 1208.919)
=-4060.817

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3460 + 5281.113 + 302.173) - (11037.4 + 0 + 141.86)
=-2135.974

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2026) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=3574.699/37677.372
=9.49 %

* 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.


Imperial Brands EBIT Related Terms


Imperial Brands EBIT Historical Data

* Premium members only.

The historical data trend for Imperial Brands'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.

Imperial Brands EBIT Chart

Imperial Brands Annual Data
Trend Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22 Sep23 Sep24 Sep25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4,390.11 4,881.86 4,189.83 4,159.38 4,126.44

Imperial Brands Semi-Annual Data
Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25 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 1,613.22 2,514.70 1,814.15 2,378.69 1,196.01

XTER:ITB vs PM, MO, TPB: EBIT Comparison

For the Tobacco subindustry, Imperial Brands'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.


Imperial Brands EV-to-EBIT vs Tobacco Products Industry

For the Tobacco Products industry and Consumer Defensive sector, Imperial Brands's EV-to-EBIT distribution charts can be found below:

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


XTER:ITB
71GF Score
Imperial Brands PLC XTER:ITB
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Imperial Brands 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 semi-annually data reported by the company within the most recent 12 months, which was €3,575 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 €3,575 Mil mean?
Imperial Brands (XTER:ITB) has a EBIT of €3,575 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Imperial Brands.
Is Imperial Brands' EBIT too high?
Imperial Brands' current EBIT is €3,575 Mil. Overall, Imperial Brands has a GF Score™ of 71/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Imperial Brands' EBIT compare to PM and MO?
Imperial Brands' EBIT of €3,575 Mil can be compared against companies in the Tobacco Products 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 Tobacco Products company?
A good EBIT depends on the Tobacco Products 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 Imperial Brands. Imperial Brands's current EBIT is €3,575 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Imperial Brands stock overvalued right now?
Based on GuruFocus' analysis, Imperial Brands (XTER:ITB) is currently considered Significantly Overvalued. The stock's GF Value™ is €20.89, compared to a current price of €32.11 — trading 53.7% above its estimated fair value. The current EBIT is €3,575 Mil. Imperial Brands' overall GF Score™ is 71/100 with 3 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 Imperial Brands (XTER:ITB), the current EBIT is €3,575 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 Imperial Brands (XTER:ITB) Overvalued in 2026?

Based on GuruFocus' analysis, Imperial Brands stock appears to be overvalued. The current stock price of €32.11 is trading 53.7% above its estimated GF Value™ of €20.89. GuruFocus considers Imperial Brands to be Significantly Overvalued.

Key valuation signals for XTER:ITB:

  • EBIT: €3,575 Mil
  • GF Value™: €20.89 vs. price of €32.11 (53.7% above fair value)
  • GF Score™: 71/100 with 3 warning signs

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


Imperial Brands Business Description

Address 121 Winterstoke Road, Bristol, GBR, BS3 2LL
Imperial Brands is the world's fourth-largest international tobacco company (excluding China National Tobacco), with total fiscal 2025 volume of 187 billion cigarettes sold in more than 120 countries. Its largest and most important markets are the US (where it sits as the third-largest manufacturer, following its acquisition of the Winston and Blu brands), Germany, the UK, Spain, and Australia. The firm also holds a leading global position in the fine-cut tobacco and hand-rolling paper categories. It has a logistics platform in Western Europe, Altadis.
71GF Score

Get the complete analysis for XTER:ITB

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

€32.11
Price
€20.89
GF Value