Believe (XPAR:BLV) EBIT : €-18.1 Mil (TTM As of Jun. 2023)

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What is Believe EBIT?

Believe's earnings before interest and taxes (EBIT) for the six months ended in Jun. 2023 was €3.3 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Jun. 2023 was €-18.1 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Believe's annualized ROC % for the quarter that ended in Jun. 2023 was 0.64%. Believe's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2023 was 21.33%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Believe's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Jun. 2023 was -1.41%.

Believe EBIT Historical Data

The historical data trend for Believe'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.

Believe EBIT Chart

Believe Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

Get a 7-Day Free Trial

11.16

-17.65

-24.59

-12.75

-18.10

Believe Semi-Annual Data
	Dec18	Dec19	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23
EBIT	Get a 7-Day Free Trial				-6.85	-0.46	-12.28	3.30	-21.40

Competitive Comparison of Believe's EBIT

For the Entertainment subindustry, Believe'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.

Believe's EV-to-EBIT Distribution in the Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Believe's EV-to-EBIT distribution charts can be found below:

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

Believe 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 Jun. 2023 adds up the semi-annually data reported by the company within the most recent 12 months, which was €-18.1 Mil.

Believe (XPAR:BLV) EBIT Explanation

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

Believe's annualized ROC % for the quarter that ended in Jun. 2023 is calculated as:

	ROC % (Q: Jun. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2022 )	+	Invested Capital (Q: Jun. 2023 ))	/ count )
=	6.59 * ( 1 - 47.87% )	/	( (474.944	+	606.614)	/ 2 )
=	3.435367	/	540.779
=	0.64 %

where

	Invested Capital		(Q: Dec. 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	))
=	1004.842	-	489.282	-	( 304.292	-	max(0, 556.809	-	597.425	+	304.292	))
=	474.944

	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	))
=	1068.72	-	524.806	-	( 212.085	-	max(0, 619.294	-	556.594	+	212.085	))
=	606.614

Note: The Operating Income data used here is two times the semi-annual (Jun. 2023) data.

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

Believe's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2022		Q: Jun. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	6.59	/	( ( (27.087 + max(-253.964, 0))	+	(34.712 + max(-260.915, 0)) )	/	2 )
=	6.59	/	( ( 27.087	+	34.712 )	/	2 )
=	6.59	/	30.8995
=	21.33 %

where Working Capital is:

	Working Capital		(Q: Dec. 2022 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(158.456	+	5.626	+	126.511)	-	(489.282	+	0	+	55.275)
=	-253.964

	Working Capital		(Q: Jun. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(174.941	+	6.191	+	163.377)	-	(524.806	+	0	+	80.618)
=	-260.915

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2023) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Jun. 2023 )
	=	-18.1	/	1279.511
	=	-1.41 %

Believe EBIT Related Terms

Thank you for viewing the detailed overview of Believe's EBIT provided by GuruFocus.com. Please click on the following links to see related term pages.

Believe (XPAR:BLV) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Communication Services » Media - Diversified » Believe SA (XPAR:BLV) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

8T6:Germany

Address

24 rue Toulouse Lautrec, Paris, FRA, 75017

Website

https://www.believemusic.com

Believe SA specializes in the sale and promotion of audio and video content from artists and independent labels. The Company has identified two operating segments which is Premium Solutions and Automated Solutions. Premium solutions this consists mainly of the sale, promotion and delivery of digital content provided by artists and labels for which the Group is responsible for developing their catalog on digital platforms and social media, as appropriate, using a split revenue model. Automated Solutions whereby the Group enablesartists, via its TuneCore digital platform, to distribute their audio content in an automated manner to streaming and social media platforms in return for a subscription fee or margin. The company generated majority of its revenue from Premium Solutions.

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