PMREF (Primaris REIT) EBIT: $220.8 Mil (TTM As of Mar. 2026)


PMREF Primaris REIT PMREF
83 GF Score
Price $14.30
GF Value $13.25
Valuation Fairly Valued
! 8 Warning Signs
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What is Primaris REIT EBIT?

Primaris REIT PMREF 83 EBIT is $220.8 Mil as of Mar. 2026. GuruFocus rates PMREF with a GF Score™ of 83/100 and a GF Value™ of $13.25 (Fairly Valued). The stock has 8 warning signs investors should review.

Primaris REIT's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was $51.4 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was $220.8 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Primaris REIT's annualized ROC % for the quarter that ended in Mar. 2026 was 6.63%. Primaris REIT's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 255.23%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Primaris REIT's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 6.72%.


Primaris REIT  (OTCPK:PMREF) EBIT Explanation

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

Primaris REIT's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=246.66 * ( 1 - 0% )/( (3694.764 + 3750.578)/ 2 )
=246.66/3722.671
=6.63 %

where

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))
=3829.939 - 110.32 - ( 24.855 - max(0, 110.32 - 178.27+24.855))
=3694.764

Invested Capital(Q: Mar. 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))
=3853.812 - 90.985 - ( 12.249 - max(0, 90.985 - 221.233+12.249))
=3750.578

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

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

Primaris REIT's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=205.58/( ( (0 + max(43.095, 0)) + (0 + max(117.999, 0)) )/ 2 )
=205.58/( ( 43.095 + 117.999 )/ 2 )
=205.58/80.547
=255.23 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(28.143 + 0 + 125.272) - (110.32 + 0 + 0)
=43.095

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(22.171 + 0 + 186.813) - (90.985 + 0 + 0)
=117.999

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

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

Primaris REIT's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=220.839/3285.228
=6.72 %

* 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.


Primaris REIT EBIT Related Terms


Primaris REIT EBIT Historical Data

* Premium members only.

The historical data trend for Primaris REIT'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.

Primaris REIT EBIT Chart

Primaris REIT Annual Data
Trend Dec09 Dec10 Dec11 Dec12 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 281.03 14.70 116.20 114.11 209.62

Primaris REIT Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 38.96 54.83 49.25 65.36 51.40

PMREF vs SPG, O, KIM: EBIT Comparison

For the REIT - Retail subindustry, Primaris REIT'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.


Primaris REIT EV-to-EBIT vs REITs Industry

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

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


PMREF
83GF Score
Primaris REIT PMREF
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
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Primaris REIT 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 Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $220.8 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 $220.8 Mil mean?
Primaris REIT (PMREF) has a EBIT of $220.8 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Primaris REIT.
Is Primaris REIT's EBIT too high?
Primaris REIT's current EBIT is $220.8 Mil. Overall, Primaris REIT has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Primaris REIT's EBIT compare to SPG and O?
Primaris REIT's EBIT of $220.8 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 Primaris REIT. Primaris REIT's current EBIT is $220.8 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Primaris REIT stock overvalued right now?
Based on GuruFocus' analysis, Primaris REIT (PMREF) is currently considered Fairly Valued. The stock's GF Value™ is $13.25, compared to a current price of $14.30 — trading 7.9% above its estimated fair value. The current EBIT is $220.8 Mil. Primaris REIT's overall GF Score™ is 83/100 with 8 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 Primaris REIT (PMREF), the current EBIT is $220.8 Mil as of Mar. 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 Primaris REIT (PMREF) Overvalued in 2026?

Based on GuruFocus' analysis, Primaris REIT stock appears to be overvalued. The current stock price of $14.30 is trading 7.9% above its estimated GF Value™ of $13.25. GuruFocus considers Primaris REIT to be Fairly Valued.

Key valuation signals for PMREF:

  • EBIT: $220.8 Mil
  • GF Value™: $13.25 vs. price of $14.30 (7.9% above fair value)
  • GF Score™: 83/100 with 8 warning signs

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


Primaris REIT Business Description

Industry Real EstateREITs
Other Exchanges H0D:GermanyPMZ.UN:Canada
Address 181 Bay Street, Suite 2720, Brookfield Place, Toronto, ON, CAN, M5J 2T3
Primaris REIT is an unincorporated, open-ended real estate investment trust. Through its subsidiaries, it owns, develops, and operates a national retail portfolio focused on enclosed shopping centres located in secondary Canadian markets. Its property portfolio includes: Dufferin Mall, Cataraqui Centre, Stone Road Mall, Orchard Park, Kildonan Place, Halifax Shopping Centre, Marlborough Mall, and Devonshire Mall. The company generates a majority of its revenue from the Rent receivables.
83GF Score

Get the complete analysis for PMREF

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

$14.30
Price
$13.25
GF Value