African Rainbow Minerals (JSE:ARI) EBIT : R4,658 Mil (TTM As of Dec. 2023)

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What is African Rainbow Minerals EBIT?

African Rainbow Minerals's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was R-33 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was R4,658 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. African Rainbow Minerals's annualized ROC % for the quarter that ended in Dec. 2023 was -1.59%. African Rainbow Minerals's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was -0.38%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. African Rainbow Minerals's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 13.25%.

African Rainbow Minerals EBIT Historical Data

The historical data trend for African Rainbow Minerals'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.

African Rainbow Minerals EBIT Chart

African Rainbow Minerals Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

EBIT

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4,405.00

6,507.00

19,134.00

17,390.00

11,439.00

African Rainbow Minerals 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															5,837.00	11,553.00	6,748.00	4,691.00	-33.00

Competitive Comparison of African Rainbow Minerals's EBIT

For the Other Industrial Metals & Mining subindustry, African Rainbow Minerals'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.

African Rainbow Minerals's EV-to-EBIT Distribution in the Metals & Mining Industry

For the Metals & Mining industry and Basic Materials sector, African Rainbow Minerals's EV-to-EBIT distribution charts can be found below:

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

African Rainbow Minerals 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 R4,658 Mil.

African Rainbow Minerals (JSE:ARI) EBIT Explanation

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

African Rainbow Minerals'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 )
=	380 * ( 1 - 322.09% )	/	( (51402	+	54616)	/ 2 )
=	-843.942	/	53009
=	-1.59 %

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	))
=	64126	-	2863	-	( 9861	-	max(0, 3733	-	16575	+	9861	))
=	51402

	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	))
=	64402	-	1975	-	( 7811	-	max(0, 3473	-	15334	+	7811	))
=	54616

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:

African Rainbow Minerals'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 )
=	-66	/	( ( (16173 + max(-2161, 0))	+	(15584 + max(3114, 0)) )	/	2 )
=	-66	/	( ( 16173	+	18698 )	/	2 )
=	-66	/	17435.5
=	-0.38 %

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)
=	(49	+	488	+	999)	-	(2863	+	0	+	834)
=	-2161

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(4239	+	1157	+	1155)	-	(1975	+	0	+	1462)
=	3114

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:

African Rainbow Minerals's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	4658	/	35154.891
	=	13.25 %

African Rainbow Minerals EBIT Related Terms

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African Rainbow Minerals (JSE:ARI) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Basic Materials » Metals & Mining » African Rainbow Minerals Ltd (JSE:ARI) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

AFBOF:USA EB9:Germany

Address

29 Impala Road, ARM House, Chislehurston, Sandton, GT, ZAF, 2196

Website

https://www.arm.co.za

African Rainbow Minerals Ltd is a South African diversified mining and minerals company. The group has various operating divisions: platinum, ferrous, coal, copper, and corporate. In addition, African Rainbow Minerals has an investment in gold through its shareholding in Harmony. Ferrous is the group's largest division, contributing roughly half of group revenue, closely trailed by the platinum division. The platinum division includes the Two Rivers Platinum Mine as a 51% subsidiary and an interest in the Modikwa Platinum Mine. The ferrous division comprises Assmang as a 50% joint venture, which includes iron ore, manganese, and chrome operations.