Real Estate Investors (AQSE:RLE.GB) Operating Income : £6.40 Mil (TTM As of Jun. 2024)

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What is Real Estate Investors Operating Income?

Real Estate Investors's Operating Income for the six months ended in Jun. 2024 was £3.15 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2024 was £6.40 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Real Estate Investors's Operating Income for the six months ended in Jun. 2024 was £3.15 Mil. Real Estate Investors's Revenue for the six months ended in Jun. 2024 was £5.58 Mil. Therefore, Real Estate Investors's Operating Margin % for the quarter that ended in Jun. 2024 was 56.42%.

Warning Sign:

Real Estate Investors PLC operating margin has been in a 5-year decline. The average rate of decline per year is -4.7%.

Real Estate Investors's 5-Year average Growth Rate for Operating Margin % was -4.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Real Estate Investors's annualized ROC % for the quarter that ended in Jun. 2024 was 3.30%. Real Estate Investors's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2024 was -191,600.00%.

Real Estate Investors Operating Income Historical Data

The historical data trend for Real Estate Investors's Operating Income 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.

* Premium members only.

Real Estate Investors Operating Income Chart

Real Estate Investors Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Operating Income

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11.56

11.77

9.60

7.55

6.67

Real Estate Investors Semi-Annual Data
	Dec14	Jun15	Dec15	Jun16	Dec16	Jun17	Dec17	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24
Operating Income	Get a 7-Day Free Trial															4.51	3.04	3.41	3.25	3.15

Real Estate Investors Operating Income Calculation

Operating Income, is the profit a company earned through operations. All expenses, including cash expenses such as cost of goods sold (COGS), research & development, wages, and non-cash expenses, such as depreciation, depletion and amortization, have been deducted from the sales.

Operating Income for the trailing twelve months (TTM) ended in Jun. 2024 adds up the semi-annually data reported by the company within the most recent 12 months, which was £6.40 Mil.

Real Estate Investors (AQSE:RLE.GB) Operating Income Explanation

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

Real Estate Investors's annualized ROC % for the quarter that ended in Jun. 2024 is calculated as:

	ROC % (Q: Jun. 2024 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Dec. 2023 )	+	Invested Capital (Q: Jun. 2024 ))	/ count )
=	6.294 * ( 1 - 0% )	/	( (199.541	+	181.796)	/ 2 )
=	6.294	/	190.6685
=	3.30 %

where

	Invested Capital		(Q: Dec. 2023 )
=	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	))
=	156.033	-	3.61	-	( 7.981	-	max(0, 60.044	-	12.926	+	7.981	))
=	199.541

	Invested Capital		(Q: Jun. 2024 )
=	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	))
=	144.237	-	5.378	-	( 5.4	-	max(0, 53.348	-	10.411	+	5.4	))
=	181.796

Note: The Operating Income data used here is two times the semi-annual (Jun. 2024) data.

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

Real Estate Investors's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2024 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Jun. 2024 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Dec. 2023		Q: Jun. 2024
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	-2.874	/	( ( (0.002 + max(-2.565, 0))	+	(0.001 + max(-0.367, 0)) )	/	2 )
=	-2.874	/	( ( 0.002	+	0.001 )	/	2 )
=	-2.874	/	0.0015
=	-191,600.00 %

where Working Capital is:

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0.3	+	2.395	+	0.377)	-	(3.61	+	0	+	2.027)
=	-2.565

	Working Capital		(Q: Jun. 2024 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2.608	+	2.403	+	-1.7763568394003E-15)	-	(5.378	+	0	+	0)
=	-0.367

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2024) EBIT data.

3. Operating Income is also linked to Operating Margin %:

Real Estate Investors's Operating Margin % for the quarter that ended in Jun. 2024 is calculated as:

Operating Margin %	=	Operating Income (Q: Jun. 2024 )	/	Revenue (Q: Jun. 2024 )
	=	3.147	/	5.578
	=	56.42 %

4. 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 Operating Income growth rate using Operating Income per share data.

Be Aware

Compared with a company's EBITDA margin, Operating Margin can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).

If a company is facing competition, its Operating Margin may decline. Often the Operating Margin declines well before the company's revenue or even profit decline. Therefore, Operating Margin is a very important indicator of whether the company is facing problems.

For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokia's Operating Margin had already been in decline since 2002, although its earnings per share were still rising. Investors who paid attention to Operating Margin would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).

Therefore, Operating Margin is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.

Real Estate Investors Operating Income Related Terms

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Real Estate Investors Business Description

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GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Real Estate Investors PLC (AQSE:RLE.GB) » Definitions » Operating Income

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RLE:UK

Address

75-77 Colmore Row, 2nd Floor, Birmingham, GBR, B3 2AP

Website

https://www.reiplc.com

Real Estate Investors PLC operates as a real estate investment trust in the United Kingdom. The property investment firm has interests in commercial and residential properties throughout the country. Its portfolio is diversified by property type and tenant, with a mix of office, retail, and residential assets. The company invests in well located, real estate assets in the established and markets of central Birmingham and the Midlands. Its source of income is in the form of rents derived from retail, office and residential land and property, new lettings, rent reviews, lease renewals, refurbishment, change of use and planning gains. It has a range of occupiers from national and regional multiple retailers to government and corporate office occupiers.

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