Orix Jreit (FRA:O2F) Operating Income: €171.0 Mil (TTM As of Feb. 2026)


FRA:O2F Orix Jreit Inc FRA:O2F
66 GF Score
Price €500.00
GF Value €523.50
! 5 Warning Signs
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What is Orix Jreit Operating Income?

Orix Jreit FRA:O2F +1.21% 66 Operating Income is €171.0 Mil as of Feb. 2026. GuruFocus rates FRA:O2F with a GF Score™ of 66/100 and a GF Value™ of €523.50. The stock has 5 warning signs investors should review.

Orix Jreit's Operating Income for the six months ended in Feb. 2026 was €88.6 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was €171.0 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Orix Jreit's Operating Income for the six months ended in Feb. 2026 was €88.6 Mil. Orix Jreit's Revenue for the six months ended in Feb. 2026 was €170.1 Mil. Therefore, Orix Jreit's Operating Margin % for the quarter that ended in Feb. 2026 was 52.12%.

Orix Jreit's 5-Year average Growth Rate for Operating Margin % was -0.80% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Orix Jreit's annualized ROC % for the quarter that ended in Feb. 2026 was 4.16%. Orix Jreit's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was 4.42%.

Orix Jreit  (FRA:O2F) Operating Income Explanation

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

Orix Jreit's annualized ROC % for the quarter that ended in Feb. 2026 is calculated as:

ROC % (Q: Feb. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Aug. 2025 ) + Invested Capital (Q: Feb. 2026 ))/ count )
=177.27 * ( 1 - 0.08% )/( (4299.461 + 4209.562)/ 2 )
=177.128184/4254.5115
=4.16 %

where

Invested Capital(Q: Aug. 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))
=4184.508 - 22.314 - ( 76.145 - max(0, 276.003 - 138.736+76.145))
=4299.461

Invested Capital(Q: Feb. 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))
=4054.616 - 27.72 - ( 60.299 - max(0, 301.677 - 119.011+60.299))
=4209.562

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

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

Orix Jreit's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Feb. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Aug. 2025  Q: Feb. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=174.478/( ( (3993.485 + max(10.525, 0)) + (3886.493 + max(2.334, 0)) )/ 2 )
=174.478/( ( 4004.01 + 3888.827 )/ 2 )
=174.478/3946.4185
=4.42 %

where Working Capital is:

Working Capital(Q: Aug. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(7.956 + 0 + 54.635) - (22.314 + 0 + 29.752)
=10.525

Working Capital(Q: Feb. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(6.905 + 0 + 51.807) - (27.72 + 0 + 28.658)
=2.334

When net working capital is negative, 0 is used.

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

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

Orix Jreit's Operating Margin % for the quarter that ended in Feb. 2026 is calculated as:

Operating Margin %=Operating Income (Q: Feb. 2026 )/Revenue (Q: Feb. 2026 )
=88.635/170.066
=52.12 %

* 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.

Orix Jreit Operating Income Related Terms

Orix Jreit Operating Income Historical Data

* Premium members only.

The historical data trend for Orix Jreit'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.

Orix Jreit Operating Income Chart

Orix Jreit Annual Data
Trend Aug16 Aug17 Aug18 Aug19 Aug20 Aug21 Aug22 Aug23 Aug24 Aug25
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 170.04 170.67 134.40 156.73 153.71

Orix Jreit Semi-Annual Data
Aug16 Feb17 Aug17 Feb18 Aug18 Feb19 Aug19 Feb20 Aug20 Feb21 Aug21 Feb22 Aug22 Feb23 Aug23 Feb24 Aug24 Feb25 Aug25 Feb26
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 78.24 78.43 77.54 82.41 88.64
FRA:O2F
66GF Score
Orix Jreit Inc FRA:O2F
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Orix Jreit 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 Feb. 2026 adds up the semi-annually data reported by the company within the most recent 12 months, which was €171.0 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 €171.0 Mil mean?
Orix Jreit (FRA:O2F) has a Operating Income of €171.0 Mil as of Feb. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Orix Jreit and its competitors.
Is Orix Jreit's Operating Income too high?
Orix Jreit's current Operating Income is €171.0 Mil. Overall, Orix Jreit has a GF Score™ of 66/100, reflecting its overall financial health beyond just this single metric.
How does Orix Jreit's Operating Income compare to BXP and ARE?
Orix Jreit's Operating Income of €171.0 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 Orix Jreit and its competitors. Orix Jreit's current Operating Income is €171.0 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Orix Jreit stock overvalued right now?
Orix Jreit (FRA:O2F) has a current Operating Income of €171.0 Mil. The stock's GF Value™ is €523.50, compared to a current price of €500.00 — trading 4.5% below its estimated fair value. The current Operating Income is €171.0 Mil. Orix Jreit's overall GF Score™ is 66/100 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 Orix Jreit (FRA:O2F), the current Operating Income is €171.0 Mil as of Feb. 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 Orix Jreit (FRA:O2F) Overvalued in 2026?

Based on GuruFocus' analysis, Orix Jreit stock appears to be undervalued. The current stock price of €500.00 is trading 4.5% below its estimated GF Value™ of €523.50.

Key valuation signals for FRA:O2F:

  • Operating Income: €171.0 Mil
  • GF Value™: €523.50 vs. price of €500.00 (4.5% below fair value)
  • GF Score™: 66/100 with 5 warning signs

No single metric tells the full story. See the FRA:O2F stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Orix Jreit Business Description

Industry Real EstateREITs
Other Exchanges 8954:Japan
Address 2-3-1 Hamamatsucho, Minato-ku, Tokyo, JPN, 105-6135
Orix Jreit Inc is a real estate investment trust engaged in the acquisition, ownership, and leasing of properties throughout Japan. In terms of asset acquisition price, the majority of the company's real estate portfolio comprises office buildings. Retail facilities and residential properties together also make up a considerable percentage of this portfolio. Orix JREIT's real estate assets are mostly located in the Greater Tokyo area, with those in the Central Wards of Tokyo representing the geographic segment in terms of property acquisition price. The company derives nearly all of its income in the form of rental revenue from tenants.
66GF Score

Get the complete analysis for FRA:O2F

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

€500.00
Price
€523.50
GF Value