Redefine Properties (JSE:RDF) EBIT: R10,084 Mil (TTM As of Feb. 2026)


JSE:RDF Redefine Properties Ltd JSE:RDF
61 GF Score
Price R6.36
GF Value R3.92
Valuation Significantly Overvalued
! 12 Warning Signs
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What is Redefine Properties EBIT?

Redefine Properties JSE:RDF -0.16% 61 EBIT is R10,084 Mil as of Feb. 2026. GuruFocus rates JSE:RDF with a GF Score™ of 61/100 and a GF Value™ of R3.92 (Significantly Overvalued). The stock has 12 warning signs investors should review.

Redefine Properties's earnings before interest and taxes (EBIT) for the six months ended in Feb. 2026 was R5,623 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Feb. 2026 was R10,084 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Redefine Properties's annualized ROC % for the quarter that ended in Feb. 2026 was 5.41%. Redefine Properties's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was 5,719.76%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Redefine Properties's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was 11.70%.


Redefine Properties  (JSE:RDF) EBIT Explanation

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

Redefine Properties's annualized ROC % for the quarter that ended in Feb. 2026 is calculated as:

ROC % (Q: Feb. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Aug. 2025 ) + Invested Capital (Q: Feb. 2026 ))/ count )
=6070.988 * ( 1 - 5.04% )/( (108635.046 + 104637.713)/ 2 )
=5765.0102048/106636.3795
=5.41 %

where

Invested Capital(Q: Aug. 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))
=106322.974 - 1489.828 - ( 1867.971 - max(0, 6820.627 - 3018.727+1867.971))
=108635.046

Invested Capital(Q: Feb. 2026 )
=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))
=104038.209 - 2393.199 - ( 1052.313 - max(0, 5472.127 - 2479.424+1052.313))
=104637.713

Note: The Operating Income data used here is two times the semi-annual (Feb. 2026) data.

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

Redefine Properties's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Feb. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Aug. 2025  Q: Feb. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=11245.14/( ( (198.737 + max(-1954.25, 0)) + (194.466 + max(-1083.947, 0)) )/ 2 )
=11245.14/( ( 198.737 + 194.466 )/ 2 )
=11245.14/196.6015
=5,719.76 %

where Working Capital is:

Working Capital(Q: Aug. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(469.815 + 0 + 362.217) - (1489.828 + 0 + 1296.454)
=-1954.25

Working Capital(Q: Feb. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1077.114 + 0 + 320.262) - (2393.199 + 0 + 88.124)
=-1083.947

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Feb. 2026) EBIT data.

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

Redefine Properties's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Feb. 2026 )
=10083.533/86165.192
=11.70 %

* 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.


Redefine Properties EBIT Related Terms


Redefine Properties EBIT Historical Data

* Premium members only.

The historical data trend for Redefine Properties'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.

Redefine Properties EBIT Chart

Redefine Properties Annual Data
Trend Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23 Aug24 Aug25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 5,823.23 10,952.37 4,613.53 7,895.74 7,981.90

Redefine Properties Semi-Annual Data
Aug16 Feb17 Aug17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24 Aug24 Feb25 Aug25 Feb26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 2,919.20 4,976.53 3,520.93 4,460.96 5,622.57

JSE:RDF vs VICI, WPC: EBIT Comparison

For the REIT - Diversified subindustry, Redefine Properties'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.


Redefine Properties EV-to-EBIT vs REITs Industry

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

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


JSE:RDF
61GF Score
Redefine Properties Ltd JSE:RDF
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Redefine Properties 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 Feb. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was R10,084 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 R10,084 Mil mean?
Redefine Properties (JSE:RDF) has a EBIT of R10,084 Mil as of Feb. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Redefine Properties.
Is Redefine Properties' EBIT too high?
Redefine Properties' current EBIT is R10,084 Mil. Overall, Redefine Properties has a GF Score™ of 61/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Redefine Properties' EBIT compare to VICI and WPC?
Redefine Properties' EBIT of R10,084 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 Redefine Properties. Redefine Properties's current EBIT is R10,084 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Redefine Properties stock overvalued right now?
Based on GuruFocus' analysis, Redefine Properties (JSE:RDF) is currently considered Significantly Overvalued. The stock's GF Value™ is R3.92, compared to a current price of R6.36 — trading 62.2% above its estimated fair value. The current EBIT is R10,084 Mil. Redefine Properties' overall GF Score™ is 61/100 with 12 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 Redefine Properties (JSE:RDF), the current EBIT is R10,084 Mil as of Feb. 2026. 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 Redefine Properties (JSE:RDF) Overvalued in 2026?

Based on GuruFocus' analysis, Redefine Properties stock appears to be overvalued. The current stock price of R6.36 is trading 62.2% above its estimated GF Value™ of R3.92. GuruFocus considers Redefine Properties to be Significantly Overvalued.

Key valuation signals for JSE:RDF:

  • EBIT: R10,084 Mil
  • GF Value™: R3.92 vs. price of R6.36 (62.2% above fair value)
  • GF Score™: 61/100 with 12 warning signs

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


Redefine Properties Business Description

Industry Real EstateREITs
Other Exchanges RDPEF:USA
Address 155 West Street, 4th floor, Sandown, Sandton, Johannesburg, GT, ZAF, 2196
Redefine Properties Ltd is a South African real estate investment trust involved in the ownership of office, retail, and industrial properties. The vast majority of Redefine's real estate portfolio is located in South Africa and Poland. Within South Africa, over half of the Company's properties by total value are situated in the province of Gauteng. The Group comprises the South Africa portfolio segment, including office, retail, industrial, specialised, and head office. Its international portfolio includes EPP, which is mainly retail; Redefine Europe, which is mainly industrial; Self Storage Investments, which is mainly self-storage; and Lango Real Estate, which represents the head office, along with head office funding related to international investments.
61GF Score

Get the complete analysis for JSE:RDF

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

R6.36
Price
R3.92
GF Value