Hongcheng Environmental Technology Co (HKSE:02265) EBIT : HK$31.6 Mil (TTM As of Dec. 2023)

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What is Hongcheng Environmental Technology Co EBIT?

Hongcheng Environmental Technology Co's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was HK$13.1 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was HK$31.6 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Hongcheng Environmental Technology Co's annualized ROC % for the quarter that ended in Dec. 2023 was 3.15%. Hongcheng Environmental Technology Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 6.30%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Hongcheng Environmental Technology Co's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 4.05%.

Hongcheng Environmental Technology Co EBIT Historical Data

The historical data trend for Hongcheng Environmental Technology 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.

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Hongcheng Environmental Technology Co EBIT Chart

Hongcheng Environmental Technology Co Annual Data

Trend

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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76.57

121.52

150.79

123.30

31.65

Hongcheng Environmental Technology Co Semi-Annual Data
	Dec18	Dec19	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
EBIT	Get a 7-Day Free Trial				86.67	72.49	54.24	18.56	13.08

Competitive Comparison of Hongcheng Environmental Technology Co's EBIT

For the Waste Management subindustry, Hongcheng Environmental Technology 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.

Hongcheng Environmental Technology Co's EV-to-EBIT Distribution in the Waste Management Industry

For the Waste Management industry and Industrials sector, Hongcheng Environmental Technology Co's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Hongcheng Environmental Technology Co's EV-to-EBIT falls into.

Hongcheng Environmental Technology 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$31.6 Mil.

Hongcheng Environmental Technology Co (HKSE:02265) EBIT Explanation

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

Hongcheng Environmental Technology 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 )
=	24.464 * ( 1 - 7.41% )	/	( (694.747	+	743.922)	/ 2 )
=	22.6512176	/	719.3345
=	3.15 %

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	))
=	828.369	-	120.215	-	( 50.396	-	max(0, 205.403	-	218.81	+	50.396	))
=	694.747

	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	))
=	871.364	-	99.16	-	( 86.913	-	max(0, 194.361	-	222.643	+	86.913	))
=	743.922

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:

Hongcheng Environmental Technology 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 )
=	26.164	/	( ( (386.656 + max(10.099, 0))	+	(427.273 + max(7.198, 0)) )	/	2 )
=	26.164	/	( ( 396.755	+	434.471 )	/	2 )
=	26.164	/	415.613
=	6.30 %

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)
=	(58.824	+	31.207	+	47.739)	-	(120.215	+	0	+	7.456)
=	10.099

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(44.453	+	37.569	+	45.869)	-	(99.16	+	0	+	21.533)
=	7.198

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:

Hongcheng Environmental Technology Co's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	31.646	/	781.448
	=	4.05 %

Hongcheng Environmental Technology Co EBIT Related Terms

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Hongcheng Environmental Technology Co (HKSE:02265) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Waste Management » Hongcheng Environmental Technology Co Ltd (HKSE:02265) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

Yeyan Road North, Dadongzhuang Village North, Shahe Town, Shandong Province, Yantai, Laizhou, CHN

Website

http://www.sdhcgroup.cn

Hongcheng Environmental Technology Co Ltd is an investment holding company. The company and its subsidiaries are engaged in the provision of gold mine hazardous waste treatment services and recycling and extracting therefrom resources with economic value for sale, such as pyrite concentrate.

Executives

Zeming International Investment Co., Ltd.	2101 Beneficial owner
Liu Ze Ming	2201 Interest of corporation controlled by you
Li Li Yan	2202 Interest of your spouse

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