Manulife US REIT (SGX:BTOU) EBIT: $-48.1 Mil (TTM As of Dec. 2025)


What is Manulife US REIT EBIT?

Manulife US REIT SGX:BTOU -1.89% EBIT is $-48.1 Mil as of Dec. 2025. The stock has 7 warning signs investors should review.

Manulife US REIT's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2025 was $-15.2 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was $-48.1 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Manulife US REIT's annualized ROC % for the quarter that ended in Dec. 2025 was 4.49%. Manulife US REIT's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -117.00%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Manulife US REIT's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -7.90%.

Manulife US REIT  (SGX:BTOU) EBIT Explanation

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

Manulife US REIT'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 )
=41.506 * ( 1 - 0% )/( (943.903 + 903.855)/ 2 )
=41.506/923.879
=4.49 %

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))
=1017.253 - 34.589 - ( 66.884 - max(0, 40.807 - 79.568+66.884))
=943.903

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))
=956.417 - 4.817 - ( 47.745 - max(0, 74.29 - 140.717+47.745))
=903.855

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:

Manulife US REIT'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 )
=-30.382/( ( (0 + max(-28.123, 0)) + (0 + max(51.935, 0)) )/ 2 )
=-30.382/( ( 0 + 51.935 )/ 2 )
=-30.382/25.9675
=-117.00 %

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)
=(4.114 + 0 + 8.57) - (34.589 + 0 + 6.218)
=-28.123

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.623 + 0 + 90.133) - (4.817 + 0 + 34.004)
=51.935

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:

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2025 )
=-48.128/609.322
=-7.90 %

* 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.

Manulife US REIT EBIT Related Terms

Manulife US REIT EBIT Historical Data

* Premium members only.

The historical data trend for Manulife US 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.

Manulife US REIT EBIT Chart

Manulife US REIT Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 67.45 -116.11 -353.71 -138.46 -54.93

Manulife US REIT Semi-Annual Data
Dec15 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 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 -110.26 36.21 -174.67 -32.94 -15.19

SGX:BTOU vs BXP, ARE, VNO: EBIT Comparison

For the REIT - Office subindustry, Manulife US 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.

Manulife US REIT EV-to-EBIT vs REITs Industry

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

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


Manulife US 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 Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was $-48.1 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 $-48.1 Mil mean?
Manulife US REIT (SGX:BTOU) has a EBIT of $-48.1 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on Manulife US REIT.
Is Manulife US REIT's EBIT too high?
Manulife US REIT's current EBIT is $-48.1 Mil.
How does Manulife US REIT's EBIT compare to BXP and ARE?
Manulife US REIT's EBIT of $-48.1 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 Manulife US REIT. Manulife US REIT's current EBIT is $-48.1 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Manulife US REIT stock overvalued right now?
Based on GuruFocus' analysis, Manulife US REIT (SGX:BTOU) is currently considered Fairly Valued. The stock's GF Value™ is $0.05, compared to a current price of $0.05 — trading 4% above its estimated fair value. The current EBIT is $-48.1 Mil. 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 Manulife US REIT (SGX:BTOU), the current EBIT is $-48.1 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.

Manulife US REIT Business Description

Industry Real EstateREITs
Address 8 Cross Street, No.16-03 Manulife Tower, Singapore, SGP, 048424
Manulife US REIT is a pure-play U.S. office REIT in Asia. The company along with its subsidiaries invests, directly or indirectly, in a portfolio of income-producing office real estate in markets in the U.S., as well as real estate-related assets. The Group's investment properties comprise commercial office properties. Some of its properties include Figueroa and Michelson in California along with Plaza and Exchange in New Jersey. Geographically, the majority is derived from the United States.