Arena REIT (ASX:ARF) Operating Income: A$101.3 Mil (TTM As of Jun. 2026)

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ASX:ARF Arena REIT ASX:ARF
83 GF Score
Price A$2.46
GF Value A$3.84
Valuation Possible Value Trap
! 6 Warning Signs
View Full Analysis

What is Arena REIT Operating Income?

Arena REIT ASX:ARF +0.82% 83 Operating Income is A$101.3 Mil as of Jun. 2026. GuruFocus rates ASX:ARF with a GF Score™ of 83/100 and a GF Value™ of A$3.84 (Possible Value Trap). The stock has 6 warning signs investors should review.

Arena REIT's Operating Income for the six months ended in Jun. 2026 was A$49.6 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was A$101.3 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Arena REIT's Operating Income for the six months ended in Jun. 2026 was A$49.6 Mil. Arena REIT's Revenue for the six months ended in Jun. 2026 was A$58.6 Mil. Therefore, Arena REIT's Operating Margin % for the quarter that ended in Jun. 2026 was 84.55%.

Arena REIT's 5-Year average Growth Rate for Operating Margin % was -0.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Arena REIT's annualized ROC % for the quarter that ended in Jun. 2026 was 5.08%. Arena REIT's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 342.70%.


Arena REIT  (ASX:ARF) Operating Income Explanation

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

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

ROC % (Q: Jun. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=99.13 * ( 1 - 0% )/( (1946.47 + 1953.063)/ 2 )
=99.13/1949.7665
=5.08 %

where

Invested Capital(Q: Jun. 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))
=2016.041 - 41.246 - ( 21.732 - max(0, 41.987 - 83.777+21.732))
=1953.063

Note: The Operating Income data used here is two times the semi-annual (Jun. 2026) data.

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

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

ROC (Joel Greenblatt) %(Q: Jun. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=62.294/( ( (1.216 + max(17.511, 0)) + (0.465 + max(17.163, 0)) )/ 2 )
=62.294/( ( 18.727 + 17.628 )/ 2 )
=62.294/18.1775
=342.70 %

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)
=(11.482 + 0 + 45.909) - (19.5 + 0 + 20.38)
=17.511

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.22 + 0 + 58.857) - (41.246 + 0 + 0.668)
=17.163

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Jun. 2026) EBIT data.

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

Arena REIT's Operating Margin % for the quarter that ended in Jun. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Jun. 2026 )/Revenue (Q: Jun. 2026 )
=49.565/58.622
=84.55 %

* 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.

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.


Arena REIT Operating Income Related Terms


Arena REIT Operating Income Historical Data

* Premium members only.

The historical data trend for Arena REIT'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.

Arena REIT Operating Income Chart

Arena REIT Annual Data
Trend Jun17 Jun18 Jun19 Jun20 Jun21 Jun22 Jun23 Jun24 Jun25 Jun26
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 75.12 84.69 89.08 99.26 101.33

Arena REIT Semi-Annual Data
Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25 Jun26
Operating Income 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 45.90 46.56 52.70 51.77 49.57
ASX:ARF
83GF Score
Arena REIT ASX:ARF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Arena REIT 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. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was A$101.3 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 Operating Income →
What does a Operating Income of A$101.3 Mil mean?
Arena REIT (ASX:ARF) has a Operating Income of A$101.3 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Arena REIT and its competitors.
Is Arena REIT's Operating Income too high?
Arena REIT's current Operating Income is A$101.3 Mil. Overall, Arena REIT has a GF Score™ of 83/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Arena REIT's Operating Income compare to EQIX and AMT?
Arena REIT's Operating Income of A$101.3 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 Operating Income for a REITs company?
A good Operating Income depends on the REITs industry context. However, Operating Income 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 Operating Income mean?
A high Operating Income can signal that a stock is expensive relative to its fundamentals. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Arena REIT and its competitors. Arena REIT's current Operating Income is A$101.3 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Arena REIT stock overvalued right now?
Based on GuruFocus' analysis, Arena REIT (ASX:ARF) is currently considered Possible Value Trap. The stock's GF Value™ is A$3.84, compared to a current price of A$2.46 — trading 35.9% below its estimated fair value. The current Operating Income is A$101.3 Mil. Arena REIT's overall GF Score™ is 83/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Income calculated?
Operating Income is calculated from a company's financial statements. For Arena REIT (ASX:ARF), the current Operating Income is A$101.3 Mil as of Jun. 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 Arena REIT (ASX:ARF) Overvalued in 2026?

Based on GuruFocus' analysis, Arena REIT stock appears to be undervalued. The current stock price of A$2.46 is trading 35.9% below its estimated GF Value™ of A$3.84. GuruFocus considers Arena REIT to be Possible Value Trap.

Key valuation signals for ASX:ARF:

  • Operating Income: A$101.3 Mil
  • GF Value™: A$3.84 vs. price of A$2.46 (35.9% below fair value)
  • GF Score™: 83/100 with 6 warning signs

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


Arena REIT Business Description

Industry Real EstateREITs
Address 8 Exhibition Street, Level 32, Melbourne, VIC, AUS, 3000
Arena REIT is an internally managed Australian property trust. The REIT specializes in leasing social infrastructure properties, with close to 300 childcare centers and about a dozen healthcare facilities in its portfolio. Typically, tenants enter into long-term leases with inflation-linked or fixed rental escalations every year. All leases are "triple net," meaning tenants pay for all statutory and operating outgoings and costs, such as land tax, insurance, electricity, and maintenance. The tenant profile is concentrated—almost three quarters of rents are generated from the top five tenants. Arena actively grows its property book through acquisitions and developments, and historically added on average 10 sites, net of divestments, per year.
83GF Score

Get the complete analysis for ASX:ARF

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

A$2.46
Price
A$3.84
GF Value