Goodman New Zealand and Goodman Property Services (FRA:NJK) Operating Income: €106.3 Mil (TTM As of Sep. 2025)

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FRA:NJK Goodman New Zealand Ltd and Goodman Property Services Ltd FRA:NJK
78 GF Score
Price €0.98
GF Value €0.74
! 5 Warning Signs
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What is Goodman New Zealand and Goodman Property Services Operating Income?

Goodman New Zealand and Goodman Property Services FRA:NJK 78 Operating Income is €106.3 Mil as of Sep. 2025. GuruFocus rates FRA:NJK with a GF Score™ of 78/100 and a GF Value™ of €0.74. The stock has 5 warning signs investors should review.

Goodman New Zealand and Goodman Property Services's Operating Income for the six months ended in Sep. 2025 was €50.8 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Sep. 2025 was €106.3 Mil.

Warning Sign:

Goodman New Zealand Ltd and Goodman Property Services Ltd has recorded a loss in operating income at least once over the past 3 years.

Operating Margin % is calculated as Operating Income divided by its Revenue. Goodman New Zealand and Goodman Property Services's Operating Income for the six months ended in Sep. 2025 was €50.8 Mil. Goodman New Zealand and Goodman Property Services's Revenue for the six months ended in Sep. 2025 was €72.4 Mil. Therefore, Goodman New Zealand and Goodman Property Services's Operating Margin % for the quarter that ended in Sep. 2025 was 70.17%.

Goodman New Zealand and Goodman Property Services'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. Goodman New Zealand and Goodman Property Services's annualized ROC % for the quarter that ended in Sep. 2025 was 4.72%. Goodman New Zealand and Goodman Property Services's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2025 was 15.98%.


Goodman New Zealand and Goodman Property Services  (FRA:NJK) Operating Income Explanation

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

Goodman New Zealand and Goodman Property Services's annualized ROC % for the quarter that ended in Sep. 2025 is calculated as:

ROC % (Q: Sep. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Mar. 2025 ) + Invested Capital (Q: Sep. 2025 ))/ count )
=101.638 * ( 1 - 0.64% )/( (2510.268 + 1768.051)/ 2 )
=100.9875168/2139.1595
=4.72 %

where

Invested Capital(Q: Mar. 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))
=2535.221 - 20.609 - ( 4.344 - max(0, 203.172 - 1164.038+4.344))
=2510.268

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))
=2036.33 - 30.02 - ( 266.526 - max(0, 40.696 - 278.955+266.526))
=1768.051

Note: The Operating Income data used here is two times the semi-annual (Sep. 2025) data.

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

Goodman New Zealand and Goodman Property Services's annualized ROC (Joel Greenblatt) % for the quarter that ended in Sep. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Sep. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Mar. 2025  Q: Sep. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=90.512/( ( (0.583 + max(1127.112, 0)) + (5.012 + max(-27.916, 0)) )/ 2 )
=90.512/( ( 1127.695 + 5.012 )/ 2 )
=90.512/566.3535
=15.98 %

where Working Capital is:

Working Capital(Q: Mar. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.265 + 0 + 1157.469) - (20.609 + 0.954 + 9.059)
=1127.112

Working Capital(Q: Sep. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(3.659 + 0 + 8.77) - (30.02 + 1.253 + 9.072)
=-27.916

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Sep. 2025) EBIT data.

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

Goodman New Zealand and Goodman Property Services's Operating Margin % for the quarter that ended in Sep. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Sep. 2025 )/Revenue (Q: Sep. 2025 )
=50.819/72.42
=70.17 %

* 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.


Goodman New Zealand and Goodman Property Services Operating Income Related Terms


Goodman New Zealand and Goodman Property Services Operating Income Historical Data

* Premium members only.

The historical data trend for Goodman New Zealand and Goodman Property Services'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.

Goodman New Zealand and Goodman Property Services Operating Income Chart

Goodman New Zealand and Goodman Property Services Annual Data
Trend Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 74.29 76.58 90.73 -51.88 106.49

Goodman New Zealand and Goodman Property Services Semi-Annual Data
Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Mar23 Sep23 Mar24 Sep24 Mar25 Sep25
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 49.74 -101.96 53.94 55.52 50.82
FRA:NJK
78GF Score
Goodman New Zealand Ltd and Goodman Property Services Ltd FRA:NJK
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Goodman New Zealand and Goodman Property Services 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 Sep. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was €106.3 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 €106.3 Mil mean?
Goodman New Zealand and Goodman Property Services (FRA:NJK) has a Operating Income of €106.3 Mil as of Sep. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Goodman New Zealand and Goodman Property Services and its competitors.
Is Goodman New Zealand and Goodman Property Services' Operating Income too high?
Goodman New Zealand and Goodman Property Services' current Operating Income is €106.3 Mil. Overall, Goodman New Zealand and Goodman Property Services has a GF Score™ of 78/100, reflecting its overall financial health beyond just this single metric.
How does Goodman New Zealand and Goodman Property Services' Operating Income compare to PLD and PSA?
Goodman New Zealand and Goodman Property Services' Operating Income of €106.3 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 Goodman New Zealand and Goodman Property Services and its competitors. Goodman New Zealand and Goodman Property Services's current Operating Income is €106.3 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Goodman New Zealand and Goodman Property Services stock overvalued right now?
Goodman New Zealand and Goodman Property Services (FRA:NJK) has a current Operating Income of €106.3 Mil. The stock's GF Value™ is €0.74, compared to a current price of €0.98 — trading 31.8% above its estimated fair value. The current Operating Income is €106.3 Mil. Goodman New Zealand and Goodman Property Services' overall GF Score™ is 78/100 with 5 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 Goodman New Zealand and Goodman Property Services (FRA:NJK), the current Operating Income is €106.3 Mil as of Sep. 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.

Is Goodman New Zealand and Goodman Property Services (FRA:NJK) Overvalued in 2026?

Based on GuruFocus' analysis, Goodman New Zealand and Goodman Property Services stock appears to be overvalued. The current stock price of €0.98 is trading 31.8% above its estimated GF Value™ of €0.74.

Key valuation signals for FRA:NJK:

  • Operating Income: €106.3 Mil
  • GF Value™: €0.74 vs. price of €0.98 (31.8% above fair value)
  • GF Score™: 78/100 with 5 warning signs

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


Goodman New Zealand and Goodman Property Services Business Description

Industry Real EstateREITs
Other Exchanges GNZ:New Zealand
Address 18 Viaduct Harbour Avenue, Victoria Street West, PO Box 90940, Level 2, KPMG Centre, Auckland, NSW, AUS, 1142
Goodman New Zealand Ltd and Goodman Property Services Ltd, formerly known as Goodman Property Trust, is one of New Zealand's property trusts, with a portfolio composed of industrial estates, businesses, and a development bank. After selling its Christchurch assets, Goodman is 100% Auckland-centric. The focus over the next few years will be on selling lower-quality assets and redeploying capital to industrial property in strategically important locations. The investment is premised on management's view that industrial assets in premium locations will generate superior long-term returns from lower average vacancy and higher rent growth.
78GF Score

Get the complete analysis for FRA:NJK

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

€0.98
Price
€0.74
GF Value