NIPPON REIT Investment (TSE:3296) EBIT: 円13,810 Mil (TTM As of Dec. 2025)

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TSE:3296 NIPPON REIT Investment Corp TSE:3296
64 GF Score
Price 円81,600.00
GF Value 円93,812.98
Valuation Modestly Undervalued
! 3 Warning Signs
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What is NIPPON REIT Investment EBIT?

NIPPON REIT Investment TSE:3296 -1.09% 64 EBIT is 円13,810 Mil as of Dec. 2025. GuruFocus rates TSE:3296 with a GF Score™ of 64/100 and a GF Value™ of 円93,812.98 (Modestly Undervalued). The stock has 3 warning signs investors should review.

NIPPON REIT Investment's earnings before interest and taxes (EBIT) for the six months ended in Dec. 2025 was 円7,223 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2025 was 円13,810 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. NIPPON REIT Investment's annualized ROC % for the quarter that ended in Dec. 2025 was 5.25%. NIPPON REIT Investment's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 5.76%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. NIPPON REIT Investment's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 5.05%.

NIPPON REIT Investment  (TSE:3296) EBIT Explanation

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

NIPPON REIT Investment'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 )
=14942.352 * ( 1 - 0.02% )/( (284394.782 + 284394.782)/ 2 )
=14939.3635296/284394.782
=5.25 %

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))
=277294.977 - 1231.461 - ( 10362.383 - max(0, 25373.683 - 17042.417+10362.383))
=284394.782

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))
=277294.977 - 1231.461 - ( 10362.383 - max(0, 25373.683 - 17042.417+10362.383))
=284394.782

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:

NIPPON REIT Investment'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 )
=14446.008/( ( (247724.399 + max(3216.351, 0)) + (247724.399 + max(3216.351, 0)) )/ 2 )
=14446.008/( ( 250940.75 + 250940.75 )/ 2 )
=14446.008/250940.75
=5.76 %

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)
=(205.396 + 0 + 6474.638) - (1231.461 + 0 + 2232.222)
=3216.351

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(205.396 + 0 + 6474.638) - (1231.461 + 0 + 2232.222)
=3216.351

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:

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

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Dec. 2025 )
=13810.072/273222.545
=5.05 %

* 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.

NIPPON REIT Investment EBIT Related Terms

NIPPON REIT Investment EBIT Historical Data

* Premium members only.

The historical data trend for NIPPON REIT Investment'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.

NIPPON REIT Investment EBIT Chart

NIPPON REIT Investment Annual Data
Trend Jun14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only 9,058.45 10,298.33 10,985.78 8,514.74 8,604.80

NIPPON REIT Investment 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 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 4,431.40 5,236.24 5,383.05 6,587.07 7,223.00

TSE:3296 vs BXP, ARE, VNO: EBIT Comparison

For the REIT - Office subindustry, NIPPON REIT Investment'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.

NIPPON REIT Investment EV-to-EBIT vs REITs Industry

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

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


TSE:3296
64GF Score
NIPPON REIT Investment Corp TSE:3296
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

NIPPON REIT Investment 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 円13,810 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 円13,810 Mil mean?
NIPPON REIT Investment (TSE:3296) has a EBIT of 円13,810 Mil as of Dec. 2025. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on NIPPON REIT Investment.
Is NIPPON REIT Investment's EBIT too high?
NIPPON REIT Investment's current EBIT is 円13,810 Mil. Overall, NIPPON REIT Investment has a GF Score™ of 64/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does NIPPON REIT Investment's EBIT compare to BXP and ARE?
NIPPON REIT Investment's EBIT of 円13,810 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 NIPPON REIT Investment. NIPPON REIT Investment's current EBIT is 円13,810 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NIPPON REIT Investment stock overvalued right now?
Based on GuruFocus' analysis, NIPPON REIT Investment (TSE:3296) is currently considered Modestly Undervalued. The stock's GF Value™ is 円93,812.98, compared to a current price of 円81,600.00 — trading 13% below its estimated fair value. The current EBIT is 円13,810 Mil. NIPPON REIT Investment's overall GF Score™ is 64/100 with 3 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 NIPPON REIT Investment (TSE:3296), the current EBIT is 円13,810 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 NIPPON REIT Investment (TSE:3296) Overvalued in 2026?

Based on GuruFocus' analysis, NIPPON REIT Investment stock appears to be undervalued. The current stock price of 円81,600.00 is trading 13% below its estimated GF Value™ of 円93,812.98. GuruFocus considers NIPPON REIT Investment to be Modestly Undervalued.

Key valuation signals for TSE:3296:

  • EBIT: 円13,810 Mil
  • GF Value™: 円93,812.98 vs. price of 円81,600.00 (13% below fair value)
  • GF Score™: 64/100 with 3 warning signs

No single metric tells the full story. See the TSE:3296 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

NIPPON REIT Investment Business Description

Industry Real EstateREITs
Address No. 17 No. 18 Shinkawa, Chuo-ku, Tokyo-chome, JPN
NIPPON REIT Investment Corp is engaged in the property leasing business. The company manages assets by investing the funds paid in by the unitholders principally in real estate-related assets. The company develops a portfolio of properties focused on income growth and stability, aiming to maximize unitholder value.
64GF Score

Get the complete analysis for TSE:3296

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

円81,600.00
Price
円93,812.98
GF Value