AZRGF (Azrieli Group) Operating Income: $677 Mil (TTM As of Mar. 2026)

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AZRGF Azrieli Group Ltd AZRGF
63 GF Score
Price $139.00
GF Value $96.93
Valuation Significantly Overvalued
! 4 Warning Signs
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What is Azrieli Group Operating Income?

Azrieli Group AZRGF 63 Operating Income is $677 Mil as of Mar. 2026. GuruFocus rates AZRGF with a GF Score™ of 63/100 and a GF Value™ of $96.93 (Significantly Overvalued). The stock has 4 warning signs investors should review.

Azrieli Group's Operating Income for the three months ended in Mar. 2026 was $176 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $677 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Azrieli Group's Operating Income for the three months ended in Mar. 2026 was $176 Mil. Azrieli Group's Revenue for the three months ended in Mar. 2026 was $366 Mil. Therefore, Azrieli Group's Operating Margin % for the quarter that ended in Mar. 2026 was 48.16%.

Azrieli Group's 5-Year average Growth Rate for Operating Margin % was -0.90% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Azrieli Group's annualized ROC % for the quarter that ended in Mar. 2026 was 2.66%. Azrieli Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 298.05%.


Azrieli Group  (OTCPK:AZRGF) Operating Income Explanation

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

Azrieli Group's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=705.104 * ( 1 - 22.08% )/( (20487.126 + 20891.873)/ 2 )
=549.4170368/20689.4995
=2.66 %

where

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))
=20868.238 - 324.651 - ( 1256.257 - max(0, 1826.775 - 1883.236+1256.257))
=20487.126

Invested Capital(Q: Mar. 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))
=21477.82 - 736.619 - ( 1313.046 - max(0, 2158.319 - 2007.647+1313.046))
=20891.873

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

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

Azrieli Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=1205.376/( ( (335.483 + max(-358.462, 0)) + (473.353 + max(-706.091, 0)) )/ 2 )
=1205.376/( ( 335.483 + 473.353 )/ 2 )
=1205.376/404.418
=298.05 %

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)
=(161.833 + 314.146 + 98.478) - (324.651 + 0 + 608.268)
=-358.462

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(191.376 + 309.222 + 31.185) - (736.619 + 0 + 501.255)
=-706.091

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

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

Azrieli Group's Operating Margin % for the quarter that ended in Mar. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=176.276/366.012
=48.16 %

* 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.


Azrieli Group Operating Income Related Terms


Azrieli Group Operating Income Historical Data

* Premium members only.

The historical data trend for Azrieli Group'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.

Azrieli Group Operating Income Chart

Azrieli Group Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 444.79 521.61 563.30 644.71 684.10

Azrieli Group Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 183.17 170.04 183.17 147.72 176.28
AZRGF
63GF Score
Azrieli Group Ltd AZRGF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Azrieli Group 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 Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was $677 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 $677 Mil mean?
Azrieli Group (AZRGF) has a Operating Income of $677 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Azrieli Group and its competitors.
Is Azrieli Group's Operating Income too high?
Azrieli Group's current Operating Income is $677 Mil. Overall, Azrieli Group has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Azrieli Group's Operating Income compare to CBRE and BEKE?
Azrieli Group's Operating Income of $677 Mil can be compared against companies in the Real Estate 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 Real Estate company?
A good Operating Income depends on the Real Estate 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 Azrieli Group and its competitors. Azrieli Group's current Operating Income is $677 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Azrieli Group stock overvalued right now?
Based on GuruFocus' analysis, Azrieli Group (AZRGF) is currently considered Significantly Overvalued. The stock's GF Value™ is $96.93, compared to a current price of $139.00 — trading 43.4% above its estimated fair value. The current Operating Income is $677 Mil. Azrieli Group's overall GF Score™ is 63/100 with 4 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 Azrieli Group (AZRGF), the current Operating Income is $677 Mil as of Mar. 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 Azrieli Group (AZRGF) Overvalued in 2026?

Based on GuruFocus' analysis, Azrieli Group stock appears to be overvalued. The current stock price of $139.00 is trading 43.4% above its estimated GF Value™ of $96.93. GuruFocus considers Azrieli Group to be Significantly Overvalued.

Key valuation signals for AZRGF:

  • Operating Income: $677 Mil
  • GF Value™: $96.93 vs. price of $139.00 (43.4% above fair value)
  • GF Score™: 63/100 with 4 warning signs

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


Azrieli Group Business Description

Other Exchanges AZRG:Israel
Address 1 Azrieli Center, Tel Aviv, ISR, 6702101
Azrieli Group Ltd manages and operates companies that own properties across Israel, subsidiaries in the energy, water, and environment industries, a card company, and a bank. The company's income-producing properties include shopping malls, office towers, industrial buildings, and residential properties. In addition to owning properties in Israel, the portfolio consists of a minor number of international properties. Under the energy business, holdings include marketing and distribution of refined oil and water desalination, wastewater purification, and sludge treatment facilities.
63GF Score

Get the complete analysis for AZRGF

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

$139.00
Price
$96.93
GF Value