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Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue.
Santander Papeis Imobiliarios Fundo De Investimento Imobiliario's Degree of Operating Leverage for the quarter that ended in Dec. 2025 was 1.17. The higher Degree of Operating Leverage, the higher operating risk the company will take.
BSP:SAPI11's Degree of Operating Leverage is ranked worse than 59.27% of 631
companies
in the Asset Management industry
Industry Median: 0.72
vs BSP:SAPI11: 1.17
Santander Papeis Imobiliarios Fundo De Investimento Imobiliario (BSP:SAPI11) Degree of Operating Leverage Explanation
Degree of Operating Leverage (DOL) is a leverage ratio that measures the sensitivity of a company’s operting income, also referred to as Earnings Before Interest and Taxes (EBIT), to fluctuations in its Revenue. DOL is a method used to quantify a company’s operating risk. This risk is related to the company's structure of variable costs and fixed costs. Since the fixed costs do not allow the company to adjust the operating costs, the operating risk rises with a higher fixed-to-variable costs proportion.
A high Degree of Operating Leverage indicates that the company’s fixed costs exceed its variable costs. By increasing the sales, the company can earn more profits. In addition, the company must be able to maintain relatively high sales to cover all fixed costs.
Be Aware
The use of operating leverage varies across different industries and business sectors, and the application of Degree of Operating Leverage (DOL) should be adjusted accordingly.
Santander Papeis Imobiliarios Fundo De Investimento Imobiliario Degree of Operating Leverage Related Terms
Santander Papeis Imobiliarios Fundo De Investimento Imobiliario Degree of Operating Leverage Historical Data
* 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.
Santander Papeis Imobiliarios Fundo De Investimento Imobiliario Degree of Operating Leverage Chart
Santander Papeis Imobiliarios Fundo De Investimento Imobiliario Annual Data
Trend
Dec23
Dec24
Dec25
Degree of Operating Leverage
0.00
0.00
1.17
Santander Papeis Imobiliarios Fundo De Investimento Imobiliario Semi-Annual Data
Dec23
Dec24
Dec25
Degree of Operating Leverage
0.00
0.00
1.17
BSP:SAPI11 vs BLK, BX, KKR: Degree of Operating Leverage Comparison
* 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.
Santander Papeis Imobiliarios Fundo De Investimento Imobiliario Degree of Operating Leverage vs Asset Management Industry
* 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.
** TTM data of EBIT and Revenue was used to calculate Degree of Operating Leverage.
*** Please be aware that the Degree of Operating Leverage calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
What does a Degree of Operating Leverage of 1.17 mean?
Santander Papeis Imobiliarios Fundo De Investimento Imobiliario (BSP:SAPI11) has a Degree of Operating Leverage of 1.17 as of Dec. 2025. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for Santander Papeis Imobiliarios Fundo De Investimento Imobiliario and its competitors. According to the industry distribution chart, Santander Papeis Imobiliarios Fundo De Investimento Imobiliario ranks #374 out of 631 companies in the Asset Management industry, placing it in the top 59.3%.
Is Santander Papeis Imobiliarios Fundo De Investimento Imobiliario's Degree of Operating Leverage too high?
Santander Papeis Imobiliarios Fundo De Investimento Imobiliario's current Degree of Operating Leverage is 1.17. The Asset Management industry median Degree of Operating Leverage is 0.72. Santander Papeis Imobiliarios Fundo De Investimento Imobiliario's value of 1.17 is 62.5% above this industry median. Based on the distribution chart, Santander Papeis Imobiliarios Fundo De Investimento Imobiliario ranks #374 out of 631 companies in the Asset Management industry, which is below the industry midpoint. Overall, Santander Papeis Imobiliarios Fundo De Investimento Imobiliario has a GF Score™ of 17/100, reflecting its overall financial health beyond just this single metric.
How does Santander Papeis Imobiliarios Fundo De Investimento Imobiliario's Degree of Operating Leverage compare to BLK and BX?
According to the Asset Management industry distribution chart, Santander Papeis Imobiliarios Fundo De Investimento Imobiliario ranks #374 out of 631 companies for Degree of Operating Leverage. This places Santander Papeis Imobiliarios Fundo De Investimento Imobiliario in the lower half of its industry. The industry median Degree of Operating Leverage is 0.72. Santander Papeis Imobiliarios Fundo De Investimento Imobiliario's value of 1.17 is 62.5% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Degree of Operating Leverage for an Asset Management company?
The median Degree of Operating Leverage among Asset Management companies is 0.72, based on 631 companies in the industry. Companies in the top quartile (top 25%) have a Degree of Operating Leverage significantly above this median, while those in the bottom quartile fall well below. However, Degree of Operating Leverage should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Santander Papeis Imobiliarios Fundo De Investimento Imobiliario's current Degree of Operating Leverage of 1.17 is 62.5% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Degree of Operating Leverage mean?
A high Degree of Operating Leverage can signal that a stock is expensive relative to its fundamentals. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for Santander Papeis Imobiliarios Fundo De Investimento Imobiliario and its competitors. For the Asset Management industry, the median Degree of Operating Leverage is 0.72 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Santander Papeis Imobiliarios Fundo De Investimento Imobiliario's current Degree of Operating Leverage is 1.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Santander Papeis Imobiliarios Fundo De Investimento Imobiliario stock overvalued right now?
Santander Papeis Imobiliarios Fundo De Investimento Imobiliario (BSP:SAPI11) has a current Degree of Operating Leverage of 1.17. The current Degree of Operating Leverage is 1.17 and 62.5% above the Asset Management industry median of 0.72. Santander Papeis Imobiliarios Fundo De Investimento Imobiliario's overall GF Score™ is 17/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Degree of Operating Leverage calculated?
Degree of Operating Leverage is calculated from a company's financial statements. For Santander Papeis Imobiliarios Fundo De Investimento Imobiliario (BSP:SAPI11), the current Degree of Operating Leverage is 1.17 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Santander Papeis Imobiliarios Fundo De Investimento Imobiliario Business Description
Santander Papeis Imobiliarios Fundo De Investimento Imobiliario is a Real Estate Fund that invests mainly in CRI's (Real Estate Receivables Certificates). The Fund's objective is to seek out businesses with low credit risk, diversifying the allocation in CRIs indexed to the IPCA and/or CDI, in addition to having monthly distribution of dividends.
17GF Score
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