Hengtai Securities Co (HKSE:01476) EBIT : HK$489 Mil (TTM As of Dec. 2023)

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What is Hengtai Securities Co EBIT?

Hengtai Securities Co's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was HK$29 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was HK$489 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Hengtai Securities Co's annualized ROC % for the quarter that ended in Dec. 2023 was -1.02%. Hengtai Securities Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 1.83%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Hengtai Securities Co's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 97.41%.

Hengtai Securities Co EBIT Historical Data

The historical data trend for Hengtai Securities Co'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.

Hengtai Securities Co EBIT Chart

Hengtai Securities Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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1,605.58

1,242.05

1,168.76

-1,719.54

489.42

Hengtai Securities Co Semi-Annual Data
	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														860.55	-286.28	-1,446.81	460.75	28.67

Competitive Comparison of Hengtai Securities Co's EBIT

For the Capital Markets subindustry, Hengtai Securities Co'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.

Hengtai Securities Co's EV-to-EBIT Distribution in the Capital Markets Industry

For the Capital Markets industry and Financial Services sector, Hengtai Securities Co's EV-to-EBIT distribution charts can be found below:

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

Hengtai Securities Co 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$489 Mil.

Hengtai Securities Co (HKSE:01476) EBIT Explanation

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

Hengtai Securities Co'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 )
=	-165.838 * ( 1 - 24.22% )	/	( (12627.273	+	12009.103)	/ 2 )
=	-125.6720364	/	12318.188
=	-1.02 %

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	))
=	34601.416	-	14013.219	-	( 12675.664	-	max(0, 23775.954	-	31736.878	+	12675.664	))
=	12627.273

	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	))
=	34128.8	-	11511.28	-	( 13347.863	-	max(0, 20369.931	-	30978.348	+	13347.863	))
=	12009.103

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:

Hengtai Securities Co'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 )
=	57.34	/	( ( (541.725 + max(2917.683, 0))	+	(550.798 + max(2272.729, 0)) )	/	2 )
=	57.34	/	( ( 3459.408	+	2823.527 )	/	2 )
=	57.34	/	3141.4675
=	1.83 %

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)
=	(5620.204	+	0	+	13365.869)	-	(14013.219	+	0	+	2055.171)
=	2917.683

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(5942.318	+	0	+	11633.201)	-	(11511.28	+	0	+	3791.51)
=	2272.729

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:

Hengtai Securities Co's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	489.415	/	502.415
	=	97.41 %

Hengtai Securities Co EBIT Related Terms

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Hengtai Securities Co (HKSE:01476) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Capital Markets » Hengtai Securities Co Ltd (HKSE:01476) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

No. 17 Finance Street, 11th Floor, China Life Centre, Xicheng District, Beijing, CHN, 100033

Website

https://www.cnht.com.cn

Hengtai Securities Co Ltd offers financial products and services to individuals, corporations, financial institutions, and government entities. The company's operating segment includes Brokerage and wealth management; Investment banking; Proprietary trading; Investment management and Others. It generates maximum revenue from the Brokerage and wealth management segment. Brokerage and wealth management segment engaged in the trading of stocks, funds, bonds and futures on behalf of the clients, and also providing investment and financing solutions to high end, professional and institutional clients. In addition, the sale of financial products, margin financing, and securities lending.

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