TAG Colonia-Immobilien AG (HAM:KBU) Operating Income: €292.8 Mil (TTM As of Dec. 2025)

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HAM:KBU TAG Colonia-Immobilien AG HAM:KBU
58 GF Score
Price €5.80
GF Value €4.89
Valuation Modestly Overvalued
! 9 Warning Signs
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What is TAG Colonia-Immobilien AG Operating Income?

TAG Colonia-Immobilien AG HAM:KBU +0.87% 58 Operating Income is €292.8 Mil as of Dec. 2025. GuruFocus rates HAM:KBU with a GF Score™ of 58/100 and a GF Value™ of €4.89 (Modestly Overvalued). The stock has 9 warning signs investors should review.

TAG Colonia-Immobilien AG's Operating Income for the six months ended in Dec. 2025 was €292.8 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €292.8 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. TAG Colonia-Immobilien AG's Operating Income for the six months ended in Dec. 2025 was €292.8 Mil. TAG Colonia-Immobilien AG's Revenue for the six months ended in Dec. 2025 was €967.5 Mil. Therefore, TAG Colonia-Immobilien AG's Operating Margin % for the quarter that ended in Dec. 2025 was 30.27%.

Warning Sign:

TAG Colonia-Immobilien AG operating margin has been in a 5-year decline. The average rate of decline per year is -6.4%.

TAG Colonia-Immobilien AG's 5-Year average Growth Rate for Operating Margin % was -6.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. TAG Colonia-Immobilien AG's annualized ROC % for the quarter that ended in Dec. 2025 was 0.78%. TAG Colonia-Immobilien AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 90.66%.


TAG Colonia-Immobilien AG  (HAM:KBU) Operating Income Explanation

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

TAG Colonia-Immobilien AG's annualized ROC % for the quarter that ended in Dec. 2025 is calculated as:

ROC % (Q: Dec. 2025 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2024 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=292.815 * ( 1 - 78.91% )/( (7598.918 + 8315.329)/ 2 )
=61.7546835/7957.1235
=0.78 %

where

Invested Capital(Q: Dec. 2024 )
=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))
=7750.254 - 84.757 - ( 603.459 - max(0, 1355.866 - 1422.445+603.459))
=7598.918

Invested Capital(Q: Dec. 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))
=8951.243 - 108.943 - ( 1347.9 - max(0, 1721.543 - 2248.514+1347.9))
=8315.329

Note: The Operating Income data used here is one times the annual (Dec. 2025) data.

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

TAG Colonia-Immobilien AG's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 is calculated as:

ROC (Joel Greenblatt) %(Q: Dec. 2025 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2024  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=529.931/( ( (57.514 + max(520.168, 0)) + (64.185 + max(527.195, 0)) )/ 2 )
=529.931/( ( 577.682 + 591.38 )/ 2 )
=529.931/584.531
=90.66 %

where Working Capital is:

Working Capital(Q: Dec. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(29.543 + 611.427 + 163.383) - (84.757 + 0 + 199.428)
=520.168

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(28.506 + 714.594 + 142.865) - (108.943 + 0 + 249.827)
=527.195

When net working capital is negative, 0 is used.

Note: The EBIT data used here is one times the annual (Dec. 2025) EBIT data.

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

TAG Colonia-Immobilien AG's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as:

Operating Margin %=Operating Income (Q: Dec. 2025 )/Revenue (Q: Dec. 2025 )
=292.815/967.466
=30.27 %

* 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.


TAG Colonia-Immobilien AG Operating Income Related Terms


TAG Colonia-Immobilien AG Operating Income Historical Data

* Premium members only.

The historical data trend for TAG Colonia-Immobilien AG'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.

TAG Colonia-Immobilien AG Operating Income Chart

TAG Colonia-Immobilien AG 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 225.30 242.34 284.12 283.91 292.82

TAG Colonia-Immobilien AG Semi-Annual Data
Dec06 Dec07 Dec08 Dec09 Dec10 Dec11 Dec12 Dec13 Dec14 Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
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 225.30 242.34 284.12 283.91 292.82
HAM:KBU
58GF Score
TAG Colonia-Immobilien AG HAM:KBU
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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TAG Colonia-Immobilien AG 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.

For stock reported annually, GuruFocus uses latest annual data as the TTM data. Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €292.8 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 €292.8 Mil mean?
TAG Colonia-Immobilien AG (HAM:KBU) has a Operating Income of €292.8 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on TAG Colonia-Immobilien AG and its competitors.
Is TAG Colonia-Immobilien AG's Operating Income too high?
TAG Colonia-Immobilien AG's current Operating Income is €292.8 Mil. Overall, TAG Colonia-Immobilien AG has a GF Score™ of 58/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does TAG Colonia-Immobilien AG's Operating Income compare to competitors?
TAG Colonia-Immobilien AG's Operating Income of €292.8 Mil can be compared against companies in the Real Estate 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 Real Estate company?
A good Operating Income depends on the Real Estate 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 TAG Colonia-Immobilien AG and its competitors. TAG Colonia-Immobilien AG's current Operating Income is €292.8 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TAG Colonia-Immobilien AG stock overvalued right now?
Based on GuruFocus' analysis, TAG Colonia-Immobilien AG (HAM:KBU) is currently considered Modestly Overvalued. The stock's GF Value™ is €4.89, compared to a current price of €5.80 — trading 18.6% above its estimated fair value. The current Operating Income is €292.8 Mil. TAG Colonia-Immobilien AG's overall GF Score™ is 58/100 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 TAG Colonia-Immobilien AG (HAM:KBU), the current Operating Income is €292.8 Mil as of Dec. 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 TAG Colonia-Immobilien AG (HAM:KBU) Overvalued in 2026?

Based on GuruFocus' analysis, TAG Colonia-Immobilien AG stock appears to be overvalued. The current stock price of €5.80 is trading 18.6% above its estimated GF Value™ of €4.89. GuruFocus considers TAG Colonia-Immobilien AG to be Modestly Overvalued.

Key valuation signals for HAM:KBU:

  • Operating Income: €292.8 Mil
  • GF Value™: €4.89 vs. price of €5.80 (18.6% above fair value)
  • GF Score™: 58/100 with 9 warning signs

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


TAG Colonia-Immobilien AG Business Description

Address Steckelhorn 5, Hamburg, DEU, 20457
TAG Colonia-Immobilien AG is a real estate company focused on the residential property sector. The properties owned by the company and its subsidiaries are spread across various regions in Northern and Eastern Germany and North Rhine-Westphalia. Additionally, it has also expanded operations into Poland, where the business focuses not only on the development and management of a residential property portfolio but also on sales activities. The Group's portfolio comprises several thousand residential units in Germany and Poland, including a small number of commercial units. TAG's business model in Germany consists of a long-term rental business for residential units. Its operating segments are: Rental Germany, which generates the maximum revenue, Rental Poland, Sales Poland, and Others.
58GF Score

Get the complete analysis for HAM:KBU

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

€5.80
Price
€4.89
GF Value