Ten Desenvolvimento Fundo De Investimento Imobiliario (BSP:NAUI11) Operating Income: R$ Mil (TTM As of Dec. 2025)

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BSP:NAUI11 Ten Desenvolvimento Fundo De Investimento Imobiliario BSP:NAUI11
7 GF Score
Price R$1,000.00
! 3 Warning Signs
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What is Ten Desenvolvimento Fundo De Investimento Imobiliario Operating Income?

Ten Desenvolvimento Fundo De Investimento Imobiliario BSP:NAUI11 7 Operating Income is R$ Mil as of Dec. 2025. GuruFocus rates BSP:NAUI11 with a GF Score™ of 7/100. The stock has 3 warning signs investors should review.

Ten Desenvolvimento Fundo De Investimento Imobiliario's Operating Income for the six months ended in Dec. 2025 was R$-0.69 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Ten Desenvolvimento Fundo De Investimento Imobiliario's Operating Income for the six months ended in Dec. 2025 was R$-0.69 Mil. Ten Desenvolvimento Fundo De Investimento Imobiliario's Revenue for the six months ended in Dec. 2025 was R$0.21 Mil. Therefore, Ten Desenvolvimento Fundo De Investimento Imobiliario's Operating Margin % for the quarter that ended in Dec. 2025 was -331.73%.

Ten Desenvolvimento Fundo De Investimento Imobiliario's 5-Year average Growth Rate for Operating Margin % was 0.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Ten Desenvolvimento Fundo De Investimento Imobiliario's annualized ROC % for the quarter that ended in Dec. 2025 was -2.83%. Ten Desenvolvimento Fundo De Investimento Imobiliario's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -12.29%.

Ten Desenvolvimento Fundo De Investimento Imobiliario  (BSP:NAUI11) Operating Income Explanation

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

Ten Desenvolvimento Fundo De Investimento Imobiliario'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: Dec. 2024 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=-0.69 * ( 1 - 0% )/( (28.519 + 20.228)/ 2 )
=-0.69/24.3735
=-2.83 %

where

Invested Capital(Q: Dec. 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))
=28.734 - 0.105 - ( 0.11 - max(0, 0.105 - 10.051+0.11))
=28.519

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))
=28.774 - 0.186 - ( 8.36 - max(0, 0.186 - 9.935+8.36))
=20.228

Note: The Operating Income data used here is one times the annual (Dec. 2025) data.

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

Ten Desenvolvimento Fundo De Investimento Imobiliario'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: Dec. 2024  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-0.69/( ( (0 + max(9.836, 0)) + (0 + max(1.389, 0)) )/ 2 )
=-0.69/( ( 9.836 + 1.389 )/ 2 )
=-0.69/5.6125
=-12.29 %

where Working Capital is:

Working Capital(Q: Dec. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(9.941 + 0 + 0) - (0.105 + 0 + 0)
=9.836

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(1.575 + 0 + 1.7763568394003E-15) - (0.186 + 0 + 0)
=1.389

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (Dec. 2025) EBIT data.

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

Ten Desenvolvimento Fundo De Investimento Imobiliario's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=-0.69/0.208
=-331.73 %

* 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.

Ten Desenvolvimento Fundo De Investimento Imobiliario Operating Income Related Terms

Ten Desenvolvimento Fundo De Investimento Imobiliario Operating Income Historical Data

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The historical data trend for Ten Desenvolvimento Fundo De Investimento Imobiliario'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.

Ten Desenvolvimento Fundo De Investimento Imobiliario Operating Income Chart

Ten Desenvolvimento Fundo De Investimento Imobiliario Annual Data
Trend Dec24 Dec25
Operating Income
-3.57 -0.69

Ten Desenvolvimento Fundo De Investimento Imobiliario Semi-Annual Data
Dec24 Dec25
Operating Income -3.57 -0.69
BSP:NAUI11
7GF Score
Ten Desenvolvimento Fundo De Investimento Imobiliario BSP:NAUI11
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Ten Desenvolvimento Fundo De Investimento Imobiliario 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was R$ 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 R$ Mil mean?
Ten Desenvolvimento Fundo De Investimento Imobiliario (BSP:NAUI11) has a Operating Income of R$ Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Ten Desenvolvimento Fundo De Investimento Imobiliario and its competitors.
Is Ten Desenvolvimento Fundo De Investimento Imobiliario's Operating Income too high?
Ten Desenvolvimento Fundo De Investimento Imobiliario's current Operating Income is R$ Mil. Overall, Ten Desenvolvimento Fundo De Investimento Imobiliario has a GF Score™ of 7/100, reflecting its overall financial health beyond just this single metric.
How does Ten Desenvolvimento Fundo De Investimento Imobiliario's Operating Income compare to VICI and WPC?
Ten Desenvolvimento Fundo De Investimento Imobiliario's Operating Income of R$ 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 Ten Desenvolvimento Fundo De Investimento Imobiliario and its competitors. Ten Desenvolvimento Fundo De Investimento Imobiliario's current Operating Income is R$ Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ten Desenvolvimento Fundo De Investimento Imobiliario stock overvalued right now?
Ten Desenvolvimento Fundo De Investimento Imobiliario (BSP:NAUI11) has a current Operating Income of R$ Mil. The current Operating Income is R$ Mil. Ten Desenvolvimento Fundo De Investimento Imobiliario's overall GF Score™ is 7/100 with 3 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 Ten Desenvolvimento Fundo De Investimento Imobiliario (BSP:NAUI11), the current Operating Income is R$ 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.

Ten Desenvolvimento Fundo De Investimento Imobiliario Business Description

Industry Real EstateREITs
Address Gilberto Sabino Street, 215, 4th FLOOR, Pinheiros, Sao Paulo, SP, BRA, 5425020
Ten Desenvolvimento Fundo De Investimento Imobiliario is a real estate investment fund. The FUND aims to provide through investments: (i) in the acquisition of Real Estate; (ii) in the acquisition of shares in a company whose purpose is to develop projects and/or a developer duly contracted by the SPE for this purpose; and (iii) in investing in financial applications under the terms and limits of current legislation; aiming to make the investments made by the Quotaholders profitable through (a) the payment of remuneration arising from the exploitation of the Target Properties and/or real rights over such properties, which may be acquired the appreciation of the Fund's assets.
7GF Score

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