EBIT Calculator (Earnings Before Interest and Taxes)
From net income plus interest and tax, compute EBIT — operating profit before financing and tax effects.
輸入資料
計算結果
重點速覽：EBIT = net income + interest expense + income tax. It measures operating profit before financing (interest) and tax effects, so firms with different debt levels and tax regimes can be compared on core operating performance. EBIT is also the numerator of interest coverage (EBIT / interest). WARNING: Still includes depreciation/amortisation (non-cash); EBITDA adds those back; EBIT ≠ cash flow. Education, not advice.
計算公式
EBIT = 淨利 + 利息費用 + 所得稅。
$$\text{EBIT} = \text{淨利} + \text{利息費用} + \text{所得稅}$$使用說明
- Enter net income (after all expenses, interest and tax).
- Enter interest expense and income tax.
- View EBIT.
不同淨利、利息與稅組合下，由「淨利加回」法算出的 EBIT。
| 淨利 | 利息費用 | 所得稅 | EBIT |
|---|---|---|---|
| 350,000 | 50,000 | 70,000 | 470,000 |
| 500,000 | 100,000 | 90,000 | 690,000 |
| 800,000 | 150,000 | 150,000 | 1,100,000 |
| 1,200,000 | 200,000 | 230,000 | 1,630,000 |
理財情境案例
案例一：淨利差一倍，經營實力其實相近
甲、乙兩間香港公司同屬零售業。甲公司負債少，利息費用僅 5 萬、稅 10 萬、淨利 60 萬；乙公司借了不少錢擴張，利息費用高達 40 萬、稅 5 萬、淨利只有 30 萬。
單看淨利，甲 (60 萬) 是乙 (30 萬) 的兩倍，似乎甲賺錢能力強得多。但把利息與稅加回算 EBIT：甲 = 60 + 5 + 10 = 75 萬；乙 = 30 + 40 + 5 = 75 萬——兩者本業經營成果其實完全一樣。乙淨利偏低，純粹是因為背了較重的債務利息，而非本業做得差。
這說明比較不同資本結構的公司時，EBIT 比淨利更能反映真實的經營實力；淨利則同時受融資決策與稅務環境影響。
案例二：用 EBIT 評估利息保障倍數
某公司淨利 35 萬、利息費用 5 萬、所得稅 7 萬，則 EBIT = 35 + 5 + 7 = 47 萬。
利息保障倍數 = EBIT ÷ 利息費用 = 470,000 ÷ 50,000 = 9.4 倍，代表本業營業利潤足以覆蓋利息 9.4 次，償息壓力很低，債務相對安全。一般而言倍數在 3 倍以上較穩健，低於 1.5 倍則需警惕。
不過利息保障倍數用的 EBIT 仍含折舊攤銷等非現金項目，嚴謹評估償債能力時，宜再結合 EBITDA 或營運現金流對利息與本金的覆蓋一起判斷。
常見問題
Why add back interest and tax to get EBIT?
Interest is set by capital structure, tax by jurisdiction — neither reflects operating quality. Adding them back (removing their effect) lets firms with different debt/tax profiles be compared on operating performance, which is why EBIT is widely used in analysis.
How is EBIT different from EBITDA?
EBIT still includes depreciation/amortisation (non-cash); EBITDA adds those back, closer to operating cash. Asset-heavy firms show a large gap. EBIT is more conservative (recognises asset wear); EBITDA looser. Best viewed together.
Can EBIT assess solvency?
As a reference: interest coverage = EBIT / interest expense; higher is safer. But EBIT is not cash (includes depreciation), so strict solvency needs actual cash flow (EBITDA or operating cash flow coverage of interest and principal).
Where do I find a HK company's EBIT?
Listed companies' income statements (consolidated) are on HKEXnews or investor-relations pages. 'Operating profit' is roughly EBIT; if only net profit is shown, use this tool's add-back method (add finance costs and tax). Watch disclosure口径 — one-offs, investment-property revaluation etc. may be mixed in.
Is EBIT the same as operating profit?
Conceptually close and often used interchangeably, but strictly different. Operating profit = revenue - operating costs - operating expenses (operating items only). EBIT = profit before interest and tax, and may include non-operating income like interest income. For mostly-operating firms the difference is small; for those with large investments/one-offs, it can be material — check the definition.
相關工具
參考資料
內容審核：香港計算器財經團隊。計算邏輯與公式參考香港金融管理局（HKMA）及投資者及理財教育委員會（IFEC）之個人理財計算指引，結果僅供參考，實際以相關機構公佈為準。