Fenbi (HKSE:02469) EBIT : HK$231 Mil (TTM As of Dec. 2023)

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What is Fenbi EBIT?

Fenbi's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was HK$144 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was HK$231 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Fenbi's annualized ROC % for the quarter that ended in Dec. 2023 was 16.12%. Fenbi's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 108.91%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Fenbi's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 2.78%.

Fenbi EBIT Historical Data

The historical data trend for Fenbi'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.

Fenbi EBIT Chart

Fenbi Annual Data

Trend

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

206.36

-604.49

-2,495.37

-2,270.84

230.83

Fenbi Semi-Annual Data
	Dec19	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
EBIT	Get a 7-Day Free Trial			-1,321.03	-414.38	-1,876.07	86.38	144.45

Competitive Comparison of Fenbi's EBIT

For the Education & Training Services subindustry, Fenbi'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.

Fenbi's EV-to-EBIT Distribution in the Education Industry

For the Education industry and Consumer Defensive sector, Fenbi's EV-to-EBIT distribution charts can be found below:

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

Fenbi 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$231 Mil.

Fenbi (HKSE:02469) EBIT Explanation

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

Fenbi'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 )
=	215.1 * ( 1 - 17.15% )	/	( (1116.369	+	1094.458)	/ 2 )
=	178.21035	/	1105.4135
=	16.12 %

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	))
=	2353.361	-	93.461	-	( 1775.381	-	max(0, 874.435	-	2017.966	+	1775.381	))
=	1116.369

	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	))
=	2321.554	-	80.207	-	( 1778.915	-	max(0, 854.783	-	2001.672	+	1778.915	))
=	1094.458

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:

Fenbi'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 )
=	288.898	/	( ( (265.504 + max(-640.212, 0))	+	(265.019 + max(-655.83, 0)) )	/	2 )
=	288.898	/	( ( 265.504	+	265.019 )	/	2 )
=	288.898	/	265.2615
=	108.91 %

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)
=	(46.847	+	89.038	+	40.92)	-	(93.461	+	0	+	723.556)
=	-640.212

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(33.989	+	66.706	+	47.312)	-	(80.207	+	0	+	723.63)
=	-655.83

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:

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	230.826	/	8296.421
	=	2.78 %

Fenbi EBIT Related Terms

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Fenbi (HKSE:02469) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Consumer Defensive » Education » Fenbi Ltd (HKSE:02469) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

Jiuxianqiao North Road, Room 601, 1-6th Floor, Building 103, No. 10 Courtyard, Chaoyang District, Beijing, CHN

Website

https://www.fenbi.com

Fenbi Ltd operates as a non-formal vocational education and training (VET) service provider in China. The company is a career test preparation service provider in China, providing a comprehensive suite of recruitment and qualification examination tutoring courses for adult students pursuing careers in government-sponsored institutions and a number of professions and industries. It helps college graduates excel in the competitive selection process administered by governmental institutions, and help professionals obtain the relevant qualifications.

Executives

Li Yong	2103 Interests held jointly with another person
Wei Liang	2201 Interest of corporation controlled by you
Zhang Xiaolong	2201 Interest of corporation controlled by you
Li Xin	2103 Interests held jointly with another person
Chalk Sky Ltd	2101 Beneficial owner
Sonata (bvi) Limited	2201 Interest of corporation controlled by you
Ocorian Singapore Trust Company Pte. Ltd.	2301 Trustee
Ark Trust (hong Kong) Limited	2301 Trustee
Tencent Holdings Limited
Ho Chi Sing	2201 Interest of corporation controlled by you
Idg-accel China Growth Fund Gp Iii Associates Ltd.	2201 Interest of corporation controlled by you
Zhou Quan	2201 Interest of corporation controlled by you
Matrix China Management Ii, L.p.	2201 Interest of corporation controlled by you
Matrix China Ii Gp Gp, Ltd.	2201 Interest of corporation controlled by you
Idg-accel China Growth Fund Iii L.p.	2101 Beneficial owner

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