Vastned NV (FRA:IJX) Operating Income: €54.85 Mil (TTM As of Jun. 2026)

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FRA:IJX Vastned NV FRA:IJX
70 GF Score
Price €28.35
GF Value €29.00
Valuation Fairly Valued
! 9 Warning Signs
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What is Vastned NV Operating Income?

Vastned NV FRA:IJX -0.35% 70 Operating Income is €54.85 Mil as of Jun. 2026. GuruFocus rates FRA:IJX with a GF Score™ of 70/100 and a GF Value™ of €29.00 (Fairly Valued). The stock has 9 warning signs investors should review.

Vastned NV's Operating Income for the six months ended in Jun. 2026 was €27.26 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was €54.85 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Vastned NV's Operating Income for the six months ended in Jun. 2026 was €27.26 Mil. Vastned NV's Revenue for the six months ended in Jun. 2026 was €36.79 Mil. Therefore, Vastned NV's Operating Margin % for the quarter that ended in Jun. 2026 was 74.10%.

Vastned NV's 5-Year average Growth Rate for Operating Margin % was -0.70% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Vastned NV's annualized ROC % for the quarter that ended in Jun. 2026 was 3.74%. Vastned NV's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 5,912.69%.


Vastned NV  (FRA:IJX) Operating Income Explanation

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

Vastned NV'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 )
=54.52 * ( 1 - 8.54% )/( (1339.951 + 1328.993)/ 2 )
=49.863992/1334.472
=3.74 %

where

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:

Vastned NV'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 )
=90.878/( ( (1.494 + max(-14.226, 0)) + (1.58 + max(-5.233, 0)) )/ 2 )
=90.878/( ( 1.494 + 1.58 )/ 2 )
=90.878/1.537
=5,912.69 %

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)
=(7.835 + 0 + 2.318) - (6.58 + 0 + 17.799)
=-14.226

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(9.451 + 0 + 8.395) - (4.726 + 0 + 18.353)
=-5.233

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 %:

Vastned NV'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 )
=27.26/36.788
=74.10 %

* 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.


Vastned NV Operating Income Related Terms


Vastned NV Operating Income Historical Data

* Premium members only.

The historical data trend for Vastned NV'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.

Vastned NV Operating Income Chart

Vastned NV 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 14.59 14.69 16.14 15.25 53.92

Vastned NV 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 8.20 7.04 26.33 27.59 27.26
FRA:IJX
70GF Score
Vastned NV FRA:IJX
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Vastned NV 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 €54.85 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 €54.85 Mil mean?
Vastned NV (FRA:IJX) has a Operating Income of €54.85 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Vastned NV and its competitors.
Is Vastned NV's Operating Income too high?
Vastned NV's current Operating Income is €54.85 Mil. Overall, Vastned NV has a GF Score™ of 70/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Vastned NV's Operating Income compare to SPG and O?
Vastned NV's Operating Income of €54.85 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 Vastned NV and its competitors. Vastned NV's current Operating Income is €54.85 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vastned NV stock overvalued right now?
Based on GuruFocus' analysis, Vastned NV (FRA:IJX) is currently considered Fairly Valued. The stock's GF Value™ is €29.00, compared to a current price of €28.35 — trading 2.2% below its estimated fair value. The current Operating Income is €54.85 Mil. Vastned NV's overall GF Score™ is 70/100 with 9 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 Vastned NV (FRA:IJX), the current Operating Income is €54.85 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 Vastned NV (FRA:IJX) Overvalued in 2026?

Based on GuruFocus' analysis, Vastned NV stock appears to be undervalued. The current stock price of €28.35 is trading 2.2% below its estimated GF Value™ of €29.00. GuruFocus considers Vastned NV to be Fairly Valued.

Key valuation signals for FRA:IJX:

  • Operating Income: €54.85 Mil
  • GF Value™: €29.00 vs. price of €28.35 (2.2% below fair value)
  • GF Score™: 70/100 with 9 warning signs

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


Vastned NV Business Description

Industry Real EstateREITs
Other Exchanges 0ET5:UKVASTB:Belgium
Address Generaal Lemanstraat 61, Antwerp, BEL, 2018
Vastned NV, formerly Vastned Belgium is a Belgium-based property investment company. Principally, it invests in Belgian commercial real estate, prime retail properties located on the shopping streets in the cities of Antwerp, Brussels, Ghent and Bruges, inner-city shops, high-end retail parks and retail warehouses.
70GF Score

Get the complete analysis for FRA:IJX

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

€28.35
Price
€29.00
GF Value