Backing into economic profit from Industry Value Added (IVA)

Let’s say you have data that forecasts revenue and IVA for an industry (my firm uses IBISWorld, and you may be familiar with their reports, but the source should not matter). You want to use this data to forecast industry profit (let’s define profit as EBIT).

Can you take the forecasted industry IVA and subtract wages to back into forecasted industry EBIT? It seems to be that adding back wages to profit in a given year gives you a number that is very close to IVA, so I’m wondering if this is an identity that is actually legitimate.