Tsingtao Brewery Co (Tsingtao Brewery Co) EBIT : $825 Mil (TTM As of Mar. 2024)

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What is Tsingtao Brewery Co EBIT?

Tsingtao Brewery Co's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2024 was $300 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2024 was $825 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Tsingtao Brewery Co's annualized ROC % for the quarter that ended in Mar. 2024 was 21.28%. Tsingtao Brewery Co's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 73.52%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Tsingtao Brewery Co's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2024 was 8.20%.

Tsingtao Brewery Co EBIT Historical Data

The historical data trend for Tsingtao Brewery 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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Tsingtao Brewery Co EBIT Chart

Tsingtao Brewery Co Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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390.74

497.49

706.78

719.39

807.10

Tsingtao Brewery Co Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
EBIT	Get a 7-Day Free Trial															285.39	368.89	273.17	-117.52	300.39

Competitive Comparison of Tsingtao Brewery Co's EBIT

For the Beverages - Brewers subindustry, Tsingtao Brewery 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.

Tsingtao Brewery Co's EV-to-EBIT Distribution in the Beverages - Alcoholic Industry

For the Beverages - Alcoholic industry and Consumer Defensive sector, Tsingtao Brewery Co's EV-to-EBIT distribution charts can be found below:

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

Tsingtao Brewery 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 Mar. 2024 adds up the quarterly data reported by the company within the most recent 12 months, which was $825 Mil.

Tsingtao Brewery Co (OTCPK:TSGTF) EBIT Explanation

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

Tsingtao Brewery Co'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: Dec. 2023 )	+	Invested Capital (Q: Mar. 2024 ))	/ count )
=	1069.764 * ( 1 - 24.74% )	/	( (3885.768	+	3680.095)	/ 2 )
=	805.1043864	/	3782.9315
=	21.28 %

where

	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	))
=	6898.408	-	1234.897	-	( 2969.97	-	max(0, 2369.469	-	4147.212	+	2969.97	))
=	3885.768

	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	))
=	7006.795	-	1431.902	-	( 3421.864	-	max(0, 2286.78	-	4181.578	+	3421.864	))
=	3680.095

Note: The Operating Income data used here is four times the quarterly (Mar. 2024) data.

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

Tsingtao Brewery Co'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: Dec. 2023		Q: Mar. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1201.548	/	( ( (1647.551 + max(-1211.01, 0))	+	(1621.108 + max(-1551.215, 0)) )	/	2 )
=	1201.548	/	( ( 1647.551	+	1621.108 )	/	2 )
=	1201.548	/	1634.3295
=	73.52 %

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(14.06	+	495.76	+	641.601)	-	(1234.897	+	0	+	1127.534)
=	-1211.01

	Working Capital		(Q: Mar. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(14.349	+	348.135	+	365.634)	-	(1431.902	+	0	+	847.431)
=	-1551.215

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2024) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Mar. 2024 )
	=	824.93	/	10055.570
	=	8.20 %

Tsingtao Brewery Co EBIT Related Terms

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Tsingtao Brewery Co (Tsingtao Brewery Co) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Beverages - Alcoholic » Tsingtao Brewery Co Ltd (OTCPK:TSGTF) » Definitions » EBIT

Traded in Other Exchanges

TSGTY:USA 00168:Hong Kong TSI:Germany 600600:China

Address

No. 35, Donghai West Road, Tsingtao Beer Tower, Shandong Province, Qingdao, CHN, 266071

Website

https://www.tsingtao.com

With over 100 years of history, Tsingtao Brewery has become one of the leading brewers in China with its namesake Tsingtao brand. The company has a dominant position in its core market, Shandong province, which contributed over 60% of its revenue and net profit in 2022. Unlike other major brewers, Tsingtao Brewery's brand umbrellas consist entirely of domestic brands. The Tsingtao brand has a mid-range to high-end market positioning and contributed over half of its volume whereas the mass market Laoshan brand targets the mainstream segment, with a declining volume mix as the company sought to premiumize its portfolio in recent years.