New Horizon Aircraft (New Horizon Aircraft) EBIT : $ Mil (TTM As of May. 2023)

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What is New Horizon Aircraft EBIT?

New Horizon Aircraft's earnings before interest and taxes (EBIT) for the six months ended in May. 2023 was $-0.81 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. New Horizon Aircraft's annualized ROC % for the quarter that ended in May. 2023 was -57.01%. New Horizon Aircraft's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2023 was -465.52%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield.

New Horizon Aircraft EBIT Historical Data

The historical data trend for New Horizon Aircraft'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.

New Horizon Aircraft EBIT Chart

New Horizon Aircraft Annual Data

Trend

May22

May23

EBIT

-1.28

-0.81

New Horizon Aircraft Semi-Annual Data
	May22	May23
EBIT	-1.28	-0.81

Competitive Comparison of New Horizon Aircraft's EBIT

For the Aerospace & Defense subindustry, New Horizon Aircraft'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.

New Horizon Aircraft's EV-to-EBIT Distribution in the Aerospace & Defense Industry

For the Aerospace & Defense industry and Industrials sector, New Horizon Aircraft's EV-to-EBIT distribution charts can be found below:

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

New Horizon Aircraft 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. EBIT for the trailing twelve months (TTM) ended in May. 2023 was $ Mil.

New Horizon Aircraft (NAS:HOVR) EBIT Explanation

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

New Horizon Aircraft's annualized ROC % for the quarter that ended in May. 2023 is calculated as:

	ROC % (Q: May. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: May. 2022 )	+	Invested Capital (Q: May. 2023 ))	/ count )
=	-0.803 * ( 1 - 0% )	/	( (1.015	+	1.802)	/ 2 )
=	-0.803	/	1.4085
=	-57.01 %

where

	Invested Capital		(Q: May. 2022 )
=	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	))
=	0.905	-	0.145	-	( 0.003	-	max(0, 0.26	-	0.005	+	0.003	))
=	1.015

	Invested Capital		(Q: May. 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	))
=	1.045	-	0.163	-	( 0.169	-	max(0, 1.101	-	0.181	+	0.169	))
=	1.802

Note: The Operating Income data used here is one times the annual (May. 2023) data.

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

New Horizon Aircraft's annualized ROC (Joel Greenblatt) % for the quarter that ended in May. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: May. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: May. 2022		Q: May. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-0.81	/	( ( (0.204 + max(-0.143, 0))	+	(0.144 + max(-0.151, 0)) )	/	2 )
=	-0.81	/	( ( 0.204	+	0.144 )	/	2 )
=	-0.81	/	0.174
=	-465.52 %

where Working Capital is:

	Working Capital		(Q: May. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0.002)	-	(0.145	+	0	+	0)
=	-0.143

	Working Capital		(Q: May. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.011	+	0	+	0.00099999999999997)	-	(0.163	+	0	+	0)
=	-0.151

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (May. 2023) EBIT data.

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

New Horizon Aircraft's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: May. 2023 )
	=		/	10.866
	=	%

New Horizon Aircraft EBIT Related Terms

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New Horizon Aircraft (New Horizon Aircraft) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Aerospace & Defense » New Horizon Aircraft Ltd (NAS:HOVR) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

N/A

Address

3187 Highway 35, Lindsay, ON, CAN, K9V 4R1

Website

New Horizon Aircraft Ltd is an advanced aerospace Original Equipment Manufacturer that is designing and aiming to build a next-generation hybrid electric vertical take-off and landing aircraft for the regional air mobility market. Its unique aircraft will offer a more efficient way to move people and goods at a regional scale, help to connect remote communities and advance its ability to deal with an increasing number of climate-related natural disasters such as wildfires, Floods and droughts. The company aims to deliver a hybrid electric 7-seat aircraft, called the Cavorite X7, that can take off and land vertically like and helicopter.

New Horizon Aircraft (New Horizon Aircraft) Headlines

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