Vicinity Centres (ASX:VCX) EBIT: A$1,511 Mil (TTM As of Dec. 2025)

What is Vicinity Centres EBIT?

Vicinity Centres ASX:VCX +1.54% 69 EBIT is A$1,511 Mil as of Dec. 2025. GuruFocus rates ASX:VCX with a GF Score™ of 69/100 and a GF Value™ of A$1.81 (Significantly Overvalued). The stock has 9 warning signs investors should review.

Vicinity Centres's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2025 was A$904 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was A$1,511 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Vicinity Centres's annualized ROC % for the quarter that ended in Dec. 2025 was 4.74%. Vicinity Centres's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 1,753.25%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Vicinity Centres's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 8.86%.

Vicinity Centres (ASX:VCX) EBIT Explanation

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

Vicinity Centres's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

	ROC % (Q: Dec. 2025 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Jun. 2025 )	+	Invested Capital (Q: Dec. 2025 ))	/ count )
=	817.6 * ( 1 - 0% )	/	( (17244	+	17235.3)	/ 2 )
=	817.6	/	17239.65
=	4.74 %

where

	Invested Capital		(Q: Jun. 2025 )
=	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	))
=	16342.5	-	223.5	-	( 80.7	-	max(0, 1415.3	-	290.3	+	80.7	))
=	17244

	Invested Capital		(Q: Dec. 2025 )
=	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	))
=	16933.3	-	200.2	-	( 55.7	-	max(0, 1005.2	-	503	+	55.7	))
=	17235.3

Note: The Operating Income data used here is two times the semi-annual (Dec. 2025) data.

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

Vicinity Centres's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2025 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Jun. 2025		Q: Dec. 2025
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	1807.6	/	( ( (26.5 + max(-141.6, 0))	+	(25.4 + max(154.3, 0)) )	/	2 )
=	1807.6	/	( ( 26.5	+	179.7 )	/	2 )
=	1807.6	/	103.1
=	1,753.25 %

where Working Capital is:

	Working Capital		(Q: Jun. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(10.8	+	0	+	180.7)	-	(223.5	+	0	+	109.6)
=	-141.6

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(97.2	+	0	+	350.1)	-	(200.2	+	0	+	92.8)
=	154.3

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Dec. 2025) EBIT data.

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

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

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2025 )
	=	1511.3	/	17061.488
	=	8.86 %

* 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.

Vicinity Centres EBIT Related Terms

Vicinity Centres EBIT Historical Data

* Premium members only.

The historical data trend for Vicinity Centres's EBIT can be seen below:

Vicinity Centres EBIT Chart

Vicinity Centres Annual Data

Trend

Jun16

Jun17

Jun18

Jun19

Jun20

Jun21

Jun22

Jun23

Jun24

Jun25

EBIT

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-108.40

1,366.60

441.90

731.50

1,203.40

Vicinity Centres Semi-Annual Data
	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Dec24	Jun25	Dec25
EBIT	Get a 7-Day Free Trial															317.30	414.20	595.90	607.50	903.80

ASX:VCX vs SPG, O, KIM: EBIT Comparison

For the REIT - Retail subindustry, Vicinity Centres'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.

Vicinity Centres EV-to-EBIT vs REITs Industry

For the REITs industry and Real Estate sector, Vicinity Centres's EV-to-EBIT distribution charts can be found below:

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

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69GF Score

Vicinity Centres ASX:VCX

EBIT is just one metric. See GF Score™, valuation, warning signs, and more.

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Vicinity Centres 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. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was A$1,511 Mil.

Frequently Asked Questions Learn more about EBIT →

What does a EBIT of A$1,511 Mil mean?

Vicinity Centres (ASX:VCX) has a EBIT of A$1,511 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Vicinity Centres.

Is Vicinity Centres' EBIT too high?

Vicinity Centres' current EBIT is A$1,511 Mil. Overall, Vicinity Centres has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Vicinity Centres' EBIT compare to SPG and O?

Vicinity Centres' EBIT of A$1,511 Mil can be compared against companies in the REITs industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good EBIT for a REITs company?

A good EBIT depends on the REITs industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high EBIT mean?

A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Vicinity Centres. Vicinity Centres's current EBIT is A$1,511 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Vicinity Centres stock overvalued right now?

Based on GuruFocus' analysis, Vicinity Centres (ASX:VCX) is currently considered Significantly Overvalued. The stock's GF Value™ is A$1.81, compared to a current price of A$2.64 — trading 45.9% above its estimated fair value. The current EBIT is A$1,511 Mil. Vicinity Centres' overall GF Score™ is 69/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is EBIT calculated?

EBIT is calculated from a company's financial statements. For Vicinity Centres (ASX:VCX), the current EBIT is A$1,511 Mil 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.

Is Vicinity Centres (ASX:VCX) Overvalued in 2026?

Based on GuruFocus' analysis, Vicinity Centres stock appears to be overvalued. The current stock price of A$2.64 is trading 45.9% above its estimated GF Value™ of A$1.81. GuruFocus considers Vicinity Centres to be Significantly Overvalued.

Key valuation signals for ASX:VCX:

EBIT: A$1,511 Mil
GF Value™: A$1.81 vs. price of A$2.64 (45.9% above fair value)
GF Score™: 69/100 with 9 warning signs

No single metric tells the full story. See the ASX:VCX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Vicinity Centres Business Description

Industry Real Estate REITs

Comparable Companies ASX:SCG ASX:RGN ASX:HDN ASX:CQR ASX:DXC ASX:CDP SPG O XPAR:URW KIM REG SGX:C38U HKSE:00823 XPAR:LI FRT BRX ADC NNN TSX:CHP.UN EPRT

Other Exchanges CNRAF:USA

Address 1341 Dandenong Road, Level 4, Chadstone Tower One, Chadstone, Melbourne, VIC, AUS, 3148

Website https://www.vicinity.com.au

Vicinity Centres operates about 50 shopping malls in Australia. They include several iconic city centers, like Queen Victoria Building, The Strand Arcade and The Galeries in Sydney, which are frequented by tourists and office workers nearby. Melbourne's Chadstone, Vicinity's crown jewel, is Australia's largest and highest turnover shopping mall. Smaller regional and neighborhood centers, to which Vicinity is consciously trimming exposure, account for around 15% of the portfolio. Vast majority of Vicinity's income is derived from rents. The group also earns small management fees for managing properties and development projects on behalf of capital partners.

69GF Score

Get the complete analysis for ASX:VCX

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

A$2.64

Price

A$1.81

GF Value

View ASX:VCX Analysis

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