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Heiwa Real Estate REIT's earnings per share without non-recurring items for the
six
months ended in May. 2026 was 円4,534.61.
Its earnings per share without non-recurring items for the trailing twelve months (TTM) ended in May. 2026 was 円8,691.37.
During the past 12 months, Heiwa Real Estate REIT's average earnings per share (NRI) Growth Rate was 15.80% per year.
During the past 3 years, the average earnings per share (NRI) Growth Rate was 9.80% per year.
During the past 5 years, the average earnings per share (NRI) Growth Rate was 6.80% per year.
During the past 10 years, the average earnings per share (NRI) Growth Rate was 8.70% per year.
Please click Growth Rate Calculation Example (GuruFocus) to see how GuruFocus calculates Wal-Mart Stores Inc (WMT)'s revenue growth rate. You can apply the same method to get the EPS without NRI Growth Rate using Earnings per share without Non-Recurring Items (NRI) data.
The historical rank and industry rank for Heiwa Real Estate REIT's EPS without NRI or its related term are showing as below:
TSE:8966'
s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: -42.5 Med: 6.35 Max: 11.7
Current: 9.8
During the past 13 years, Heiwa Real Estate REIT's highest 3-Year average Earnings Per Share (NRI) Growth Rate was 11.70% per year. The lowest was -42.50% per year. And the median was 6.35% per year.
TSE:8966's 3-Year EPS without NRI Growth Rate is ranked better than 67.86% of 669
companies
in the REITs industry
Industry Median: 1
vs TSE:8966: 9.80
Heiwa Real Estate REIT's EPS (Basic) for the
six
months ended in May. 2026 was 円4,536.56.
Its EPS (Basic) for the trailing twelve months (TTM) ended in May. 2026 was 円8,696.67.
Heiwa Real Estate REIT (TSE:8966) EPS without NRI Explanation
EPS without NRI removes onetime and unusual items from EPS, to provide investors with a more accurate measure of the company’s true earnings. The earnings are adjusted for items that are irregular or unusual in nature, and/or are non-recurring. This is calculated using Net Income (Continuing Operations) plus/minus any tax affected unusual Items and Goodwill Impairments/Write Offs. This can be used to fairly measure a company's profitability.
Be Aware
Compared with Earnings per share, a company's cash flow is better indicator of the company's earnings power.
If a company's earnings per share is less than cash flow per share over long term, investors need to be cautious and find out why.
Heiwa Real Estate REIT EPS without NRI Related Terms
Heiwa Real Estate REIT EPS without NRI Historical Data
* Premium members only.
The historical data trend for Heiwa Real Estate REIT's EPS without NRI 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.
For the REIT - Diversified subindustry, Heiwa Real Estate REIT's PE Ratio without NRI, along with its competitors' market caps and PE Ratio without NRI 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.
Heiwa Real Estate REIT PE Ratio without NRI vs REITs Industry
For the REITs industry and Real Estate sector, Heiwa Real Estate REIT's PE Ratio without NRI distribution charts can be found below:
* The bar in red indicates where Heiwa Real Estate REIT's PE Ratio without NRI falls into.
Heiwa Real Estate REIT EPS without NRI Calculation
Earnings Per Share (EPS) is the single most important variable used by Wall Street in determining the earnings power of a company. But investors need to be aware that Earnings per Share can be easily manipulated by adjusting depreciation and amortization rate or non-recurring items. That's why GuruFocus lists EPS without NRI, which better reflects the company's underlying performance.
Earnings Per Share without Non-Recurring Items is the amount of earnings without non-recurring items per outstanding share of the company's stock.
EPS without NRI for the trailing twelve months (TTM) ended in May. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was 円8,691.37
* 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.
Heiwa Real Estate REIT (TSE:8966) has a EPS without NRI of 円8,691.37 as of May. 2026. EPS without NRI represents per-share earnings excluding one-time charges. View historical data on Heiwa Real Estate REIT and its competitors. According to the industry distribution chart, Heiwa Real Estate REIT ranks #215 out of 669 companies in the REITs industry, placing it in the top 32.1%.
Is Heiwa Real Estate REIT's EPS without NRI too high?
Heiwa Real Estate REIT's current EPS without NRI is 円8,691.37. Based on the distribution chart, Heiwa Real Estate REIT ranks #215 out of 669 companies in the REITs industry, which is above the industry midpoint. Overall, Heiwa Real Estate REIT has a GF Score™ of 73/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Heiwa Real Estate REIT's EPS without NRI compare to VICI and WPC?
According to the REITs industry distribution chart, Heiwa Real Estate REIT ranks #215 out of 669 companies for EPS without NRI. This puts Heiwa Real Estate REIT in the upper half of its industry. The industry median EPS without NRI is 1.00. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EPS without NRI for a REITs company?
The median EPS without NRI among REITs companies is 1.00, based on 669 companies in the industry. Companies in the top quartile (top 25%) have a EPS without NRI significantly above this median, while those in the bottom quartile fall well below. However, EPS without NRI 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 EPS without NRI mean?
A high EPS without NRI can signal that a stock is expensive relative to its fundamentals. EPS without NRI represents per-share earnings excluding one-time charges. View historical data on Heiwa Real Estate REIT and its competitors. For the REITs industry, the median EPS without NRI is 1.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Heiwa Real Estate REIT's current EPS without NRI is 円8,691.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Heiwa Real Estate REIT stock overvalued right now?
Based on GuruFocus' analysis, Heiwa Real Estate REIT (TSE:8966) is currently considered Modestly Undervalued. The stock's GF Value™ is 円156,532.21, compared to a current price of 円135,700.00 — trading 13.3% below its estimated fair value. The current EPS without NRI is 円8,691.37. Heiwa Real Estate REIT's overall GF Score™ is 73/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EPS without NRI calculated?
EPS without NRI is calculated from a company's financial statements. For Heiwa Real Estate REIT (TSE:8966), the current EPS without NRI is 円8,691.37 as of May. 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 Heiwa Real Estate REIT (TSE:8966) Overvalued in 2026?
Based on GuruFocus' analysis, Heiwa Real Estate REIT stock appears to be undervalued.
The current stock price of 円135,700.00 is trading 13.3% below its estimated GF Value™ of 円156,532.21.
GuruFocus considers Heiwa Real Estate REIT to be Modestly Undervalued.
Key valuation signals for TSE:8966:
EPS without NRI: 円8,691.37
GF Value™: 円156,532.21 vs. price of 円135,700.00 (13.3% below fair value)
No single metric tells the full story. See the TSE:8966 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Heiwa Real Estate REIT Inc is a real estate company that invests in office buildings and residential buildings located in the Tokyo Metropolitan Area and other cities across Japan. The company leases its buildings for rental revenue and renovates its properties. The tenants include both individuals and businesses from various industries such as wholesale and retail, manufacturing, and information and technology services.
73GF Score
Get the complete analysis for TSE:8966
EPS without NRI is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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