Mirvac Group (Mirvac Group) EBIT : $-288 Mil (TTM As of Dec. 2023)

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What is Mirvac Group EBIT?

Mirvac Group's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was $-70 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $-288 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Mirvac Group's annualized ROC % for the quarter that ended in Dec. 2023 was 3.22%. Mirvac Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -15.63%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Mirvac Group's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -3.47%.

Mirvac Group EBIT Historical Data

The historical data trend for Mirvac Group'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.

Mirvac Group EBIT Chart

Mirvac Group Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

EBIT

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831.25

482.40

797.40

757.55

-21.48

Mirvac Group 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															474.25	291.64	197.71	-218.12	-69.61

Competitive Comparison of Mirvac Group's EBIT

For the REIT - Diversified subindustry, Mirvac Group'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.

Mirvac Group's EV-to-EBIT Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Mirvac Group's EV-to-EBIT distribution charts can be found below:

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

Mirvac Group 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 $-288 Mil.

Mirvac Group (OTCPK:MRVGF) EBIT Explanation

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

Mirvac Group'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 )
=	329.318 * ( 1 - -2.03% )	/	( (10483.892	+	10382.865)	/ 2 )
=	336.0031554	/	10433.3785
=	3.22 %

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	))
=	11330.201	-	764.43	-	( 81.879	-	max(0, 1007.383	-	1759.732	+	81.879	))
=	10483.892

	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	))
=	11040.161	-	505.355	-	( 151.941	-	max(0, 840.027	-	1852.075	+	151.941	))
=	10382.865

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:

Mirvac Group'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 )
=	-139.224	/	( ( (20.805 + max(755.705, 0))	+	(18.072 + max(986.613, 0)) )	/	2 )
=	-139.224	/	( ( 776.51	+	1004.685 )	/	2 )
=	-139.224	/	890.5975
=	-15.63 %

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)
=	(28.188	+	1009.396	+	552.35)	-	(764.43	+	29.53	+	40.269)
=	755.705

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(153.28	+	1149.264	+	401.606)	-	(505.355	+	0	+	212.182)
=	986.613

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:

Mirvac Group's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	-287.733	/	8290.145
	=	-3.47 %

Mirvac Group EBIT Related Terms

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Mirvac Group (Mirvac Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Mirvac Group (OTCPK:MRVGF) » Definitions » EBIT

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MJB:Germany MGR:Australia

Address

200 George Street, Level 28, Sydney, NSW, AUS, 2000

Website

https://www.mirvac.com

Mirvac is one of Australia's largest residential developers, particularly apartments. Residential development earnings are volatile, generating about a fifth of EBIT in fiscal 2023, despite accounting for only about 15% of the group's invested capital. Over our 10-year discrete forecast period we don't expect residential development to exceed the lofty peaks seen in 2017, when Mirvac settled 3,400 residential lots, however, we expect modest growth over time as Mirvac gains market share and constructs housing into an under-supplied market. About 80% of Mirvac's earnings come from a predictable commercial property portfolio, more than half of which is high-grade office and another fourth in retail, a small industrial portfolio, and a small but growing build-to-rent residential portfolio.

Mirvac Group (Mirvac Group) Headlines

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