Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario (BSP:MFII11) EBIT: R$70.62 Mil (TTM As of Dec. 2025)


BSP:MFII11 Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario BSP:MFII11
42 GF Score
Price R$52.05
GF Value R$35.19
Valuation Significantly Overvalued
! 5 Warning Signs
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What is Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario EBIT?

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario BSP:MFII11 +0.48% 42 EBIT is R$70.62 Mil as of Dec. 2025. GuruFocus rates BSP:MFII11 with a GF Score™ of 42/100 and a GF Value™ of R$35.19 (Significantly Overvalued). The stock has 5 warning signs investors should review.

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2025 was R$70.62 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was R$70.62 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's annualized ROC % for the quarter that ended in Dec. 2025 was 1.90%. Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 225.49%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 35.43%.

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario  (BSP:MFII11) EBIT Explanation

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

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario'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: Dec. 2024 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=8.599 * ( 1 - 0% )/( (385.416 + 522)/ 2 )
=8.599/453.708
=1.90 %

where

Invested Capital(Q: Dec. 2024 )
=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))
=585.451 - 32.954 - ( 167.081 - max(0, 32.954 - 241.737+167.081))
=385.416

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))
=708.74 - 32.108 - ( 154.632 - max(0, 32.108 - 259.898+154.632))
=522

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

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

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario'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: Dec. 2024  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=70.62/( ( (0 + max(34.57, 0)) + (0 + max(28.068, 0)) )/ 2 )
=70.62/( ( 34.57 + 28.068 )/ 2 )
=70.62/31.319
=225.49 %

where Working Capital is:

Working Capital(Q: Dec. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(24.194 + 41.266 + 2.064) - (32.954 + 0 + 0)
=34.57

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(25.101 + 33.032 + 2.043) - (32.108 + 0 + 0)
=28.068

When net working capital is negative, 0 is used.

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

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

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2025 )
=70.62/199.308
=35.43 %

* 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.

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario EBIT Related Terms

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario EBIT Historical Data

* Premium members only.

The historical data trend for Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario'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.

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario EBIT Chart

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
-6.91 48.80 98.55 33.16 70.62

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario Semi-Annual Data
Dec21 Dec22 Dec23 Dec24 Dec25
EBIT -6.91 48.80 98.55 33.16 70.62

BSP:MFII11 vs VICI, WPC: EBIT Comparison

For the REIT - Diversified subindustry, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario'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.

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario EV-to-EBIT vs REITs Industry

For the REITs industry and Real Estate sector, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's EV-to-EBIT falls into.


BSP:MFII11
42GF Score
Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario BSP:MFII11
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. EBIT for the trailing twelve months (TTM) ended in Dec. 2025 was R$70.62 Mil.

* 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.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of R$70.62 Mil mean?
Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario (BSP:MFII11) has a EBIT of R$70.62 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario.
Is Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's EBIT too high?
Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's current EBIT is R$70.62 Mil. Overall, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario has a GF Score™ of 42/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's EBIT compare to VICI and WPC?
Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's EBIT of R$70.62 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 Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario. Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's current EBIT is R$70.62 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario stock overvalued right now?
Based on GuruFocus' analysis, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario (BSP:MFII11) is currently considered Significantly Overvalued. The stock's GF Value™ is R$35.19, compared to a current price of R$52.05 — trading 47.9% above its estimated fair value. The current EBIT is R$70.62 Mil. Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's overall GF Score™ is 42/100 with 5 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 Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario (BSP:MFII11), the current EBIT is R$70.62 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 Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario (BSP:MFII11) Overvalued in 2026?

Based on GuruFocus' analysis, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario stock appears to be overvalued. The current stock price of R$52.05 is trading 47.9% above its estimated GF Value™ of R$35.19. GuruFocus considers Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario to be Significantly Overvalued.

Key valuation signals for BSP:MFII11:

  • EBIT: R$70.62 Mil
  • GF Value™: R$35.19 vs. price of R$52.05 (47.9% above fair value)
  • GF Score™: 42/100 with 5 warning signs

No single metric tells the full story. See the BSP:MFII11 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario Business Description

Industry Real EstateREITs
Address Rua Funchal, 418 - 21 andar, Sao Paulo, SP, BRA, 04548-004
Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario is a real estate investment trust. It is engaged in the acquisition of interests in real estate development projects developed in partnership with developers.
42GF Score

Get the complete analysis for BSP:MFII11

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

R$52.05
Price
R$35.19
GF Value