Fortress Real Estate Investments (JSE:FFB) EBIT : R6,848 Mil (TTM As of Dec. 2023)

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What is Fortress Real Estate Investments EBIT?

Fortress Real Estate Investments's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was R4,715 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was R6,848 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Fortress Real Estate Investments's annualized ROC % for the quarter that ended in Dec. 2023 was 2.83%. Fortress Real Estate Investments's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 37,237.31%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Fortress Real Estate Investments's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 18.46%.

Fortress Real Estate Investments EBIT Historical Data

The historical data trend for Fortress Real Estate Investments'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.

Fortress Real Estate Investments EBIT Chart

Fortress Real Estate Investments Annual Data

Trend

Jun14

Jun15

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

EBIT

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4,259.54

-7,238.15

4,226.39

1,820.20

5,849.49

Fortress Real Estate Investments 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															1,947.82	-127.63	3,717.19	2,132.30	4,715.36

Competitive Comparison of Fortress Real Estate Investments's EBIT

For the Real Estate Services subindustry, Fortress Real Estate Investments'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.

Fortress Real Estate Investments's EV-to-EBIT Distribution in the Real Estate Industry

For the Real Estate industry and Real Estate sector, Fortress Real Estate Investments's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Fortress Real Estate Investments's EV-to-EBIT falls into.

Fortress Real Estate Investments 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 R6,848 Mil.

Fortress Real Estate Investments (JSE:FFB) EBIT Explanation

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

Fortress Real Estate Investments'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 )
=	2102.874 * ( 1 - 22.08% )	/	( (56580.568	+	59325.64)	/ 2 )
=	1638.5594208	/	57953.104
=	2.83 %

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	))
=	54237.773	-	155.361	-	( 208.451	-	max(0, 4340.985	-	1842.829	+	208.451	))
=	56580.568

	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	))
=	58105.867	-	1437.456	-	( 267.55	-	max(0, 4285.224	-	1627.995	+	267.55	))
=	59325.64

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:

Fortress Real Estate Investments'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 )
=	9430.722	/	( ( (25.326 + max(-135.468, 0))	+	(25.326 + max(-93.099, 0)) )	/	2 )
=	9430.722	/	( ( 25.326	+	25.326 )	/	2 )
=	9430.722	/	25.326
=	37,237.31 %

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)
=	(8.625	+	0	+	1183.2)	-	(155.361	+	0	+	1171.932)
=	-135.468

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1344.357	+	0	+	0)	-	(1437.456	+	0	+	0)
=	-93.099

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:

Fortress Real Estate Investments's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	6847.664	/	37097.225
	=	18.46 %

Fortress Real Estate Investments EBIT Related Terms

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Fortress Real Estate Investments (JSE:FFB) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Real Estate » Real Estate » Fortress Real Estate Investments Ltd (JSE:FFB) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

FFB:South Africa

Address

Block C, Cullinan Place, Cullinan Close, Morningside, Johannesburg, GT, ZAF, 2196

Website

https://www.fortressfund.co.za

Fortress Real Estate Investments Ltd invests in both direct property assets and listed real estate securities including both local and foreign property companies. It owns a portfolio of retail, office, industrial, logistics, corporate and other. The company generates maximum revenue from the Logistics segment.

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