BYLOF (Big Yellow Group) Operating Income: $175.2 Mil (TTM As of Mar. 2026)

What is Big Yellow Group Operating Income?

Big Yellow Group BYLOF +3.15% 74 Operating Income is $175.2 Mil as of Mar. 2026. GuruFocus rates BYLOF with a GF Score™ of 74/100 and a GF Value™ of $14.84 (Modestly Undervalued). The stock has 7 warning signs investors should review.

Big Yellow Group's Operating Income for the six months ended in Mar. 2026 was $86.2 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $175.2 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Big Yellow Group's Operating Income for the six months ended in Mar. 2026 was $86.2 Mil. Big Yellow Group's Revenue for the six months ended in Mar. 2026 was $138.6 Mil. Therefore, Big Yellow Group's Operating Margin % for the quarter that ended in Mar. 2026 was 62.22%.

Good Sign:

Big Yellow Group PLC operating margin is expanding. Margin expansion is usually a good sign.

Big Yellow Group's 5-Year average Growth Rate for Operating Margin % was 0.50% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Big Yellow Group's annualized ROC % for the quarter that ended in Mar. 2026 was 4.01%. Big Yellow Group's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was 530.25%.

Big Yellow Group (OTCPK:BYLOF) Operating Income Explanation

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

Big Yellow 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: Sep. 2025 )	+	Invested Capital (Q: Mar. 2026 ))	/ count )
=	172.464 * ( 1 - 1.45% )	/	( (4237.278	+	4231.263)	/ 2 )
=	169.963272	/	4234.2705
=	4.01 %

where

	Invested Capital		(Q: Sep. 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	))
=	4209.116	-	32.508	-	( 9.751	-	max(0, 82.439	-	21.769	+	9.751	))
=	4237.278

	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	))
=	4205.559	-	28.035	-	( 12.299	-	max(0, 77.484	-	23.745	+	12.299	))
=	4231.263

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

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

Big Yellow 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: Sep. 2025		Q: Mar. 2026
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	156.144	/	( ( (29.501 + max(-72.847, 0))	+	(29.393 + max(-67.084, 0)) )	/	2 )
=	156.144	/	( ( 29.501	+	29.393 )	/	2 )
=	156.144	/	29.447
=	530.25 %

where Working Capital is:

	Working Capital		(Q: Sep. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(1.855	+	0.523	+	0)	-	(32.508	+	0	+	42.717)
=	-72.847

	Working Capital		(Q: Mar. 2026 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(2.841	+	0.503	+	-0.0010000000000012)	-	(28.035	+	0	+	42.392)
=	-67.084

When net working capital is negative, 0 is used.

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

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

Big Yellow 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 )
	=	86.232	/	138.588
	=	62.22 %

* 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.

Big Yellow Group Operating Income Related Terms

Big Yellow Group Operating Income Historical Data

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The historical data trend for Big Yellow Group's Operating Income can be seen below:

Big Yellow Group Operating Income Chart

Big Yellow Group Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Operating Income

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140.43

145.64

163.16

163.57

174.02

Big Yellow Group Semi-Annual Data
	Sep16	Mar17	Sep17	Mar18	Sep18	Mar19	Sep19	Mar20	Sep20	Mar21	Sep21	Mar22	Sep22	Mar23	Sep23	Mar24	Sep24	Mar25	Sep25	Mar26
Operating Income	Get a 7-Day Free Trial															79.73	83.40	82.11	88.97	86.23

74GF Score

Big Yellow Group PLC BYLOF

Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.

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Big Yellow 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 semi-annually data reported by the company within the most recent 12 months, which was $175.2 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $175.2 Mil mean?

Big Yellow Group (BYLOF) has a Operating Income of $175.2 Mil as of Mar. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Big Yellow Group and its competitors.

Is Big Yellow Group's Operating Income too high?

Big Yellow Group's current Operating Income is $175.2 Mil. Overall, Big Yellow Group has a GF Score™ of 74/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.

How does Big Yellow Group's Operating Income compare to PLD and PSA?

Big Yellow Group's Operating Income of $175.2 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 Big Yellow Group and its competitors. Big Yellow Group's current Operating Income is $175.2 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Big Yellow Group stock overvalued right now?

Based on GuruFocus' analysis, Big Yellow Group (BYLOF) is currently considered Modestly Undervalued. The stock's GF Value™ is $14.84, compared to a current price of $12.36 — trading 16.7% below its estimated fair value. The current Operating Income is $175.2 Mil. Big Yellow Group's overall GF Score™ is 74/100 with 7 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 Big Yellow Group (BYLOF), the current Operating Income is $175.2 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 Big Yellow Group (BYLOF) Overvalued in 2026?

Based on GuruFocus' analysis, Big Yellow Group stock appears to be undervalued. The current stock price of $12.36 is trading 16.7% below its estimated GF Value™ of $14.84. GuruFocus considers Big Yellow Group to be Modestly Undervalued.

Key valuation signals for BYLOF:

Operating Income: $175.2 Mil
GF Value™: $14.84 vs. price of $12.36 (16.7% below fair value)
GF Score™: 74/100 with 7 warning signs

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

Big Yellow Group Business Description

Industry Real Estate REITs

Comparable Companies LSE:SAFE LSE:BBOX LSE:LMP PLD PSA EXR LSE:SGRO EGP LINE SGX:A17U CUBE FR REXR STAG MEX:FIBRAPL14 TRNO XBRU:WDP SGX:M44U TSE:3283 COLD

Other Exchanges BYGl:UK BYG:UK B9Y:Germany

Address Bridge Road, 2 The Deans, Bagshot, London, Surrey, GBR, GU19 5AT

Website https://www.bigyellow.co.uk

Big Yellow Group PLC operates a portfolio of modern, purpose-built self-storage stores. The Group provides self storage solutions for domestic and business customers, including storage space, flexi offices, dedicated office space, delivery acceptance, forklifting, courier arrangement services, and the sale of boxes and packing materials. The Group operates Big Yellow stores and Armadillo stores across the United Kingdom, with a focus on London and the South East. The Group operates in one segment, the provision of self-storage and related services.

74GF Score

Get the complete analysis for BYLOF

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

$12.36

Price

$14.84

GF Value

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