Wereldhave Belgium (LTS:0N2C) Operating Income: €67.6 Mil (TTM As of Jun. 2026)

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LTS:0N2C Wereldhave Belgium LTS:0N2C
80 GF Score
Price €53.00
GF Value €49.68
Valuation Fairly Valued
! 11 Warning Signs
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What is Wereldhave Belgium Operating Income?

Wereldhave Belgium LTS:0N2C 80 Operating Income is €67.6 Mil as of Jun. 2026. GuruFocus rates LTS:0N2C with a GF Score™ of 80/100 and a GF Value™ of €49.68 (Fairly Valued). The stock has 11 warning signs investors should review.

Wereldhave Belgium's Operating Income for the six months ended in Jun. 2026 was €35.5 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was €67.6 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Wereldhave Belgium's Operating Income for the six months ended in Jun. 2026 was €35.5 Mil. Wereldhave Belgium's Revenue for the six months ended in Jun. 2026 was €57.3 Mil. Therefore, Wereldhave Belgium's Operating Margin % for the quarter that ended in Jun. 2026 was 62.03%.

Warning Sign:

Wereldhave Belgium operating margin has been in a 5-year decline. The average rate of decline per year is -1.2%.

Wereldhave Belgium's 5-Year average Growth Rate for Operating Margin % was -1.20% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Wereldhave Belgium's annualized ROC % for the quarter that ended in Jun. 2026 was 5.19%. Wereldhave Belgium's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 9,549.02%.


Wereldhave Belgium  (LTS:0N2C) Operating Income Explanation

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

Wereldhave Belgium'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 )
=71.088 * ( 1 - 2.1% )/( (1324.54 + 1357.76)/ 2 )
=69.595152/1341.15
=5.19 %

where

Invested Capital(Q: Jun. 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))
=1298.739 - 23.595 - ( 11.119 - max(0, 128.394 - 45.778+11.119))
=1357.76

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:

Wereldhave Belgium'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 )
=85.416/( ( (0.794 + max(-34.427, 0)) + (0.995 + max(-48.735, 0)) )/ 2 )
=85.416/( ( 0.794 + 0.995 )/ 2 )
=85.416/0.8945
=9,549.02 %

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)
=(17.322 + 0 + 0.121) - (25.273 + 0 + 26.597)
=-34.427

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(34.395 + 0 + 0.264) - (23.595 + 0 + 59.799)
=-48.735

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 %:

Wereldhave Belgium'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 )
=35.544/57.301
=62.03 %

* 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.


Wereldhave Belgium Operating Income Related Terms


Wereldhave Belgium Operating Income Historical Data

* Premium members only.

The historical data trend for Wereldhave Belgium'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.

Wereldhave Belgium Operating Income Chart

Wereldhave Belgium 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 43.16 47.69 49.77 52.10 62.27

Wereldhave Belgium 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 25.26 26.84 30.26 32.01 35.54
LTS:0N2C
80GF Score
Wereldhave Belgium LTS:0N2C
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Wereldhave Belgium 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 €67.6 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 €67.6 Mil mean?
Wereldhave Belgium (LTS:0N2C) has a Operating Income of €67.6 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Wereldhave Belgium and its competitors.
Is Wereldhave Belgium's Operating Income too high?
Wereldhave Belgium's current Operating Income is €67.6 Mil. Overall, Wereldhave Belgium has a GF Score™ of 80/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Wereldhave Belgium's Operating Income compare to SPG and O?
Wereldhave Belgium's Operating Income of €67.6 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 Wereldhave Belgium and its competitors. Wereldhave Belgium's current Operating Income is €67.6 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Wereldhave Belgium stock overvalued right now?
Based on GuruFocus' analysis, Wereldhave Belgium (LTS:0N2C) is currently considered Fairly Valued. The stock's GF Value™ is €49.68, compared to a current price of €53.00 — trading 6.7% above its estimated fair value. The current Operating Income is €67.6 Mil. Wereldhave Belgium's overall GF Score™ is 80/100 with 11 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 Wereldhave Belgium (LTS:0N2C), the current Operating Income is €67.6 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 Wereldhave Belgium (LTS:0N2C) Overvalued in 2026?

Based on GuruFocus' analysis, Wereldhave Belgium stock appears to be overvalued. The current stock price of €53.00 is trading 6.7% above its estimated GF Value™ of €49.68. GuruFocus considers Wereldhave Belgium to be Fairly Valued.

Key valuation signals for LTS:0N2C:

  • Operating Income: €67.6 Mil
  • GF Value™: €49.68 vs. price of €53.00 (6.7% above fair value)
  • GF Score™: 80/100 with 11 warning signs

No single metric tells the full story. See the LTS:0N2C stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Wereldhave Belgium Business Description

Industry Real EstateREITs
Other Exchanges WEHB:Belgium
Address Medialaan 30 bus 6, Vilvoorde, BEL, 1800
Wereldhave Belgium is a publicly-regulated real estate company with a focus on commercial property and operating in Belgium. Wereldhave Belgium targets shopping centers as new investments. Its operational shopping center portfolio includes locations in Liege, Nivelles, Tournai, Ghent, Genk, Waterloo, and Kortrijk. The company also owns office properties in Brussels, Vilvoorde, and Antwerp. The company's focus is to create value through both active management and redevelopment, with tactics that include maintaining contact with lessees to acquire up-to-date market information. The company has two segments: offices and retail.
80GF Score

Get the complete analysis for LTS:0N2C

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

€53.00
Price
€49.68
GF Value