GLPJF (GLP J-REIT) Operating Income: $225.9 Mil (TTM As of Feb. 2026)


GLPJF GLP J-REIT GLPJF
71 GF Score
Price $824.70
GF Value $869.14
! 6 Warning Signs
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What is GLP J-REIT Operating Income?

GLP J-REIT GLPJF -5.09% 71 Operating Income is $225.9 Mil as of Feb. 2026. GuruFocus rates GLPJF with a GF Score™ of 71/100 and a GF Value™ of $869.14. The stock has 6 warning signs investors should review.

GLP J-REIT's Operating Income for the six months ended in Feb. 2026 was $106.3 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was $225.9 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. GLP J-REIT's Operating Income for the six months ended in Feb. 2026 was $106.3 Mil. GLP J-REIT's Revenue for the six months ended in Feb. 2026 was $185.8 Mil. Therefore, GLP J-REIT's Operating Margin % for the quarter that ended in Feb. 2026 was 57.19%.

Good Sign:

GLP J-REIT operating margin is expanding. Margin expansion is usually a good sign.

GLP J-REIT's 5-Year average Growth Rate for Operating Margin % was 0.60% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. GLP J-REIT's annualized ROC % for the quarter that ended in Feb. 2026 was 3.66%. GLP J-REIT's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2026 was 3.88%.

GLP J-REIT  (OTCPK:GLPJF) Operating Income Explanation

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

GLP J-REIT'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 )
=212.534 * ( 1 - 0% )/( (5915.972 + 5695.87)/ 2 )
=212.534/5805.921
=3.66 %

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))
=5945.409 - 41.727 - ( 258.808 - max(0, 399.567 - 387.277+258.808))
=5915.972

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))
=5624.092 - 30.323 - ( 236.381 - max(0, 452.387 - 350.286+236.381))
=5695.87

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:

GLP J-REIT'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 )
=210.75/( ( (5521.292 + max(49.084, 0)) + (5238.916 + max(51.391, 0)) )/ 2 )
=210.75/( ( 5570.376 + 5290.307 )/ 2 )
=210.75/5430.3415
=3.88 %

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)
=(26.173 + 0 + 102.296) - (41.727 + 0 + 37.658)
=49.084

Working Capital(Q: Feb. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(21.835 + 0 + 92.07) - (30.323 + 0 + 32.191)
=51.391

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 %:

GLP J-REIT'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 )
=106.267/185.823
=57.19 %

* 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.

GLP J-REIT Operating Income Related Terms

GLP J-REIT Operating Income Historical Data

* Premium members only.

The historical data trend for GLP J-REIT'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.

GLP J-REIT Operating Income Chart

GLP J-REIT 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 231.49 202.09 204.92 193.71 231.73

GLP J-REIT 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 90.75 100.87 109.04 119.66 106.27
GLPJF
71GF Score
GLP J-REIT GLPJF
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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GLP J-REIT 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 $225.9 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 $225.9 Mil mean?
GLP J-REIT (GLPJF) has a Operating Income of $225.9 Mil as of Feb. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on GLP J-REIT and its competitors.
Is GLP J-REIT's Operating Income too high?
GLP J-REIT's current Operating Income is $225.9 Mil. Overall, GLP J-REIT has a GF Score™ of 71/100, reflecting its overall financial health beyond just this single metric.
How does GLP J-REIT's Operating Income compare to PLD and PSA?
GLP J-REIT's Operating Income of $225.9 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 GLP J-REIT and its competitors. GLP J-REIT's current Operating Income is $225.9 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is GLP J-REIT stock overvalued right now?
GLP J-REIT (GLPJF) has a current Operating Income of $225.9 Mil. The stock's GF Value™ is $869.14, compared to a current price of $824.70 — trading 5.1% below its estimated fair value. The current Operating Income is $225.9 Mil. GLP J-REIT's overall GF Score™ is 71/100 with 6 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 GLP J-REIT (GLPJF), the current Operating Income is $225.9 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 GLP J-REIT (GLPJF) Overvalued in 2026?

Based on GuruFocus' analysis, GLP J-REIT stock appears to be undervalued. The current stock price of $824.70 is trading 5.1% below its estimated GF Value™ of $869.14.

Key valuation signals for GLPJF:

  • Operating Income: $225.9 Mil
  • GF Value™: $869.14 vs. price of $824.70 (5.1% below fair value)
  • GF Score™: 71/100 with 6 warning signs

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

GLP J-REIT Business Description

Industry Real EstateREITs
Other Exchanges 3281:Japan
Address Tokyo Midtown Yaesu, 16F, Yaesu Central Tower, 2-2-1 Yaesu, Chuo-ku, Tokyo, JPN
GLP J-REIT is a Japan-based real estate investment trust. The company invests in logistic facilities and related real estate properties mainly located in Kanto and Kansai regions and other areas. Its properties are classified under Multi-tenant property and build-to-suit property segments. It holds a range of proprieties such as GLP Tokyo, GLP Sugito II, GLP Koshigaya II, GLP Misato II, GLP Amagasaki, GLP Higashi-Ogishima, GLP Akishima, GLP Tomisato, GLP Narashino II, GLP Funabashi, GLP Kazo, GLP Fukaya and others.
71GF Score

Get the complete analysis for GLPJF

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

$824.70
Price
$869.14
GF Value