Joy City Property (HKSE:00207) EBIT : HK$5,711 Mil (TTM As of Dec. 2023)

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What is Joy City Property EBIT?

Joy City Property's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was HK$2,999 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was HK$5,711 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Joy City Property's annualized ROC % for the quarter that ended in Dec. 2023 was 0.36%. Joy City Property's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 34.50%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Joy City Property's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 17.36%.

Joy City Property EBIT Historical Data

The historical data trend for Joy City Property'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.

* Premium members only.

Joy City Property EBIT Chart

Joy City Property Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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6,229.83

5,765.99

4,056.12

4,301.88

5,710.73

Joy City Property Semi-Annual Data
	Jun14	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
EBIT	Get a 7-Day Free Trial															1,888.60	3,907.91	578.95	2,712.13	2,998.61

Competitive Comparison of Joy City Property's EBIT

For the Real Estate - Diversified subindustry, Joy City Property'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.

Joy City Property's EV-to-EBIT Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Joy City Property's EV-to-EBIT distribution charts can be found below:

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

Joy City Property 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. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was HK$5,711 Mil.

Joy City Property (HKSE:00207) EBIT Explanation

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

Joy City Property's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	5413.53 * ( 1 - 91.51% )	/	( (130896.59	+	125765.585)	/ 2 )
=	459.608697	/	128331.0875
=	0.36 %

where

	Invested Capital		(Q: Jun. 2023 )
=	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	))
=	159051.339	-	10022.953	-	( 18131.796	-	max(0, 41602.799	-	72921.546	+	18131.796	))
=	130896.59

	Invested Capital		(Q: Dec. 2023 )
=	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	))
=	157087.515	-	10067.404	-	( 21254.526	-	max(0, 48256.703	-	78708.315	+	21254.526	))
=	125765.585

Note: The Operating Income data used here is two times the semi-annual (Dec. 2023) data.

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

Joy City Property's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	5997.216	/	( ( (4911.398 + max(9355.832, 0))	+	(4767.096 + max(15734.256, 0)) )	/	2 )
=	5997.216	/	( ( 14267.23	+	20501.352 )	/	2 )
=	5997.216	/	17384.291
=	34.50 %

where Working Capital is:

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(151.438	+	45064.216	+	1307.388)	-	(10022.953	+	0	+	27144.257)
=	9355.832

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(145.351	+	48215.314	+	5092.46)	-	(10067.404	+	0	+	27651.465)
=	15734.256

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2023) EBIT data.

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

Joy City Property's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	5710.737	/	32889.208
	=	17.36 %

Joy City Property EBIT Related Terms

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Joy City Property (HKSE:00207) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Joy City Property Ltd (HKSE:00207) » Definitions » EBIT

Traded in Other Exchanges

HKP:Germany

Address

262 Gloucester Road, 33rd Floor, COFCO Tower, Causeway Bay, Hong Kong, HKG

Website

http://www.joy-cityproperty.com

Joy City Property Ltd is a large-scale commercial property developer and operator, working on the development, operation, sales, leasing and management of mixed-use complexes and other commercial properties such as shopping centers, hotels, offices, serviced apartments and resort and tourist properties in China. Rental income accounts for majority of the operating profit. The company's portfolio consists of various retail malls under the flagship brand of Joy City, and some office and hotel assets. Recently, it introduced a second brand called Joy Breeze, consisting of smaller retail assets. The businesses of the Group are divided into four areas, namely investment properties, property development, hotel operations and output management and other services.

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