Morgan Advanced Materials (LSE:MGAM) EBIT : £96 Mil (TTM As of Dec. 2023)

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What is Morgan Advanced Materials EBIT?

Morgan Advanced Materials's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2023 was £59 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was £96 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Morgan Advanced Materials's annualized ROC % for the quarter that ended in Dec. 2023 was 15.04%. Morgan Advanced Materials's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 25.55%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Morgan Advanced Materials's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 8.43%.

Morgan Advanced Materials EBIT Historical Data

The historical data trend for Morgan Advanced Materials'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.

Morgan Advanced Materials EBIT Chart

Morgan Advanced Materials Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

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128.50

-0.30

114.30

142.40

95.80

Morgan Advanced Materials 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															53.30	70.60	71.80	36.70	59.10

Competitive Comparison of Morgan Advanced Materials's EBIT

For the Specialty Industrial Machinery subindustry, Morgan Advanced Materials'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.

Morgan Advanced Materials's EV-to-EBIT Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Morgan Advanced Materials's EV-to-EBIT distribution charts can be found below:

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

Morgan Advanced Materials 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 £96 Mil.

Morgan Advanced Materials (LSE:MGAM) EBIT Explanation

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

Morgan Advanced Materials'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 )
=	142.8 * ( 1 - 26.52% )	/	( (702.7	+	692.8)	/ 2 )
=	104.92944	/	697.75
=	15.04 %

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	))
=	1054.6	-	214.4	-	( 137.5	-	max(0, 280	-	547.9	+	137.5	))
=	702.7

	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	))
=	1024.7	-	209	-	( 122.9	-	max(0, 239.5	-	493.9	+	122.9	))
=	692.8

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:

Morgan Advanced Materials'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 )
=	118.2	/	( ( (307.3 + max(181.7, 0))	+	(325.4 + max(111, 0)) )	/	2 )
=	118.2	/	( ( 489	+	436.4 )	/	2 )
=	118.2	/	462.7
=	25.55 %

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)
=	(227.7	+	181.4	+	1.3)	-	(214.4	+	0	+	14.3)
=	181.7

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(160	+	175.1	+	4.3)	-	(209	+	0	+	19.4)
=	111

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:

Morgan Advanced Materials's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	95.8	/	1136.985
	=	8.43 %

Morgan Advanced Materials EBIT Related Terms

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Morgan Advanced Materials (LSE:MGAM) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Morgan Advanced Materials PLC (LSE:MGAM) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

MCRUF:USA MGAMl:UK MGJ:Germany

Address

Sheet Street, York House, Windsor, GBR, SL4 1DD

Website

https://www.morganadvancedmaterials.com

Morgan Advanced Materials PLC is a U.K.-based company that manufactures a wide array of specialized and high-specification materials. The company's product line includes high-temperature insulation products used to reduce energy consumption, electrical carbon, linear and rotary transfer systems used for transferring electrical energy in motor and generator applications, seals and bearings, ceramic cores, piezoelectric sensors and transducers, crucibles, and others. The company's customers come from sectors including healthcare, petrochemical, transportation, electronics, energy, security and defense, and other industrial applications. Morgan Advanced Materials has a global presence, with the United States being the largest markets for the company.