2 Cheap Cars Group (NZSE:2CC) EBIT : NZ$9.06 Mil (TTM As of Mar. 2024)

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What is 2 Cheap Cars Group EBIT?

2 Cheap Cars Group's earnings before interest and taxes (EBIT) for the six months ended in Mar. 2024 was NZ$4.29 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2024 was NZ$9.06 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. 2 Cheap Cars Group's annualized ROC % for the quarter that ended in Mar. 2024 was 10.38%. 2 Cheap Cars Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 43.92%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. 2 Cheap Cars Group's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 21.61%.

2 Cheap Cars Group EBIT Historical Data

The historical data trend for 2 Cheap Cars 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.

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2 Cheap Cars Group EBIT Chart

2 Cheap Cars Group Annual Data

Trend

Mar21

Mar22

Mar23

Mar24

EBIT

4.87

3.70

2.60

9.06

2 Cheap Cars Group Semi-Annual Data
	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24
EBIT	Get a 7-Day Free Trial			1.48	1.24	1.36	4.78	4.29

Competitive Comparison of 2 Cheap Cars Group's EBIT

For the Auto & Truck Dealerships subindustry, 2 Cheap Cars 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.

2 Cheap Cars Group's EV-to-EBIT Distribution in the Vehicles & Parts Industry

For the Vehicles & Parts industry and Consumer Cyclical sector, 2 Cheap Cars Group's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where 2 Cheap Cars Group's EV-to-EBIT falls into.

2 Cheap Cars 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 Mar. 2024 adds up the semi-annually data reported by the company within the most recent 12 months, which was NZ$9.06 Mil.

2 Cheap Cars Group (NZSE:2CC) EBIT Explanation

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

2 Cheap Cars Group's annualized ROC % for the quarter that ended in Mar. 2024 is calculated as:

	ROC % (Q: Mar. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Mar. 2024 ))	/ count )
=	3.638 * ( 1 - 28.9% )	/	( (22.217	+	27.618)	/ 2 )
=	2.586618	/	24.9175
=	10.38 %

where

	Invested Capital		(Q: Sep. 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	))
=	31.628	-	3.317	-	( 6.094	-	max(0, 6.679	-	21.556	+	6.094	))
=	22.217

	Invested Capital		(Q: Mar. 2024 )
=	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	))
=	34.365	-	2.074	-	( 4.673	-	max(0, 8.375	-	22.652	+	4.673	))
=	27.618

Note: The Operating Income data used here is two times the semi-annual (Mar. 2024) data.

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

2 Cheap Cars Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Mar. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Mar. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	8.57	/	( ( (8.246 + max(10.397, 0))	+	(8.489 + max(11.89, 0)) )	/	2 )
=	8.57	/	( ( 18.643	+	20.379 )	/	2 )
=	8.57	/	19.511
=	43.92 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2.221	+	10.191	+	3.05)	-	(3.317	+	1.024	+	0.724)
=	10.397

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.601	+	13.873	+	2.602)	-	(2.074	+	2.055	+	1.057)
=	11.89

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Mar. 2024) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2024 )
	=	9.062	/	41.943
	=	21.61 %

2 Cheap Cars Group EBIT Related Terms

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2 Cheap Cars Group (NZSE:2CC) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Cyclical » Vehicles & Parts » 2 Cheap Cars Group Ltd (NZSE:2CC) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

102 Mays Road, Onehunga, Auckland, NTL, NZL, 1061

Website

https://www.2cheapcars.co.nz

2 Cheap Cars Group Ltd is an integrated automotive group operating throughout New Zealand via two divisions: Automotive Retail and Finance. The 2 Cheap Cars Group draws revenue from the two divisions: automotive retail division, revenue is primarily from the sale of vehicles and from agent commissions relating to third-party finance and insurance products. NZ Motor Finance (NZMF) generates finance income from lending to customers who are financing vehicles, and from selling guaranteed asset protection insurance (GAP) and payment protection insurance (PPI) products.

2 Cheap Cars Group (NZSE:2CC) Headlines

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