BOC Aviation (HKSE:02588) EBIT : HK$4,301 Mil (TTM As of Dec. 2023)

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What is BOC Aviation EBIT?

BOC Aviation's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was HK$2,273 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was HK$4,301 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. BOC Aviation's annualized ROC % for the quarter that ended in Dec. 2023 was 1.96%. BOC Aviation's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 2.78%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. BOC Aviation's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 2.54%.

BOC Aviation EBIT Historical Data

The historical data trend for BOC Aviation'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.

BOC Aviation EBIT Chart

BOC Aviation Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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6,080.04

5,918.66

6,039.62

6,265.65

4,294.76

BOC Aviation Semi-Annual Data
	Dec13	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															2,633.41	4,003.69	2,293.95	2,027.95	2,272.82

Competitive Comparison of BOC Aviation's EBIT

For the Rental & Leasing Services subindustry, BOC Aviation'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.

BOC Aviation's EV-to-EBIT Distribution in the Business Services Industry

For the Business Services industry and Industrials sector, BOC Aviation's EV-to-EBIT distribution charts can be found below:

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

BOC Aviation 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$4,301 Mil.

BOC Aviation (HKSE:02588) EBIT Explanation

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

BOC Aviation'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 )
=	4545.632 * ( 1 - 11.13% )	/	( (203459.113	+	207937.893)	/ 2 )
=	4039.7031584	/	205698.503
=	1.96 %

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	))
=	179513.044	-	964.328	-	( 4223.546	-	max(0, 31000.045	-	6089.648	+	4223.546	))
=	203459.113

	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	))
=	188759.828	-	896.456	-	( 3060.044	-	max(0, 26566.55	-	6492.029	+	3060.044	))
=	207937.893

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:

BOC Aviation'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 )
=	4545.632	/	( ( (165395.503 + max(-1490.33, 0))	+	(162171.747 + max(-1161.647, 0)) )	/	2 )
=	4545.632	/	( ( 165395.503	+	162171.747 )	/	2 )
=	4545.632	/	163783.625
=	2.78 %

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)
=	(250.938	+	0	+	519.351)	-	(964.328	+	0	+	1296.291)
=	-1490.33

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(145.137	+	0	+	1071.41)	-	(896.456	+	0	+	1481.738)
=	-1161.647

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:

BOC Aviation's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	4300.764	/	169180.535
	=	2.54 %

BOC Aviation EBIT Related Terms

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BOC Aviation (HKSE:02588) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Business Services » BOC Aviation Ltd (HKSE:02588) » Definitions » EBIT

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Address

79 Robinson Road, No. 15-01, Singapore, SGP, 068897

Website

https://www.bocaviation.com

BOC Aviation is the world's fifth-largest aircraft leasing company by net book value of owned aircraft, with a portfolio of more than 600 commercial passenger and cargo aircraft. The company was founded in 1993 in Singapore as a joint venture between Singapore Airlines and U.S.-based Boullioun Aviation Services. In 2006, the company was acquired by the Bank of China and took on its current name. Listed on the Stock Exchange of Hong Kong in 2016, BOC Aviation remains headquartered in Singapore, but has operations in Dublin, London, New York, and Tianjin. Bank of China remains its largest shareholder with a 70% stake. BOC Aviation has an international management team with its key leaders having more than 30 years of experience in the aircraft and leasing business.

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