Winton Land (NZSE:WIN) Operating Income: NZ$-17.55 Mil (TTM As of Dec. 2025)

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NZSE:WIN Winton Land Ltd NZSE:WIN
27 GF Score
Price NZ$1.10
GF Value NZ$0.90
Valuation Modestly Overvalued
! 5 Warning Signs
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What is Winton Land Operating Income?

Winton Land NZSE:WIN -1.79% 27 Operating Income is NZ$-17.55 Mil as of Dec. 2025. GuruFocus rates NZSE:WIN with a GF Score™ of 27/100 and a GF Value™ of NZ$0.90 (Modestly Overvalued). The stock has 5 warning signs investors should review.

Winton Land's Operating Income for the six months ended in Dec. 2025 was NZ$-4.01 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was NZ$-17.55 Mil.

Warning Sign:

Winton Land 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. Winton Land's Operating Income for the six months ended in Dec. 2025 was NZ$-4.01 Mil. Winton Land's Revenue for the six months ended in Dec. 2025 was NZ$31.99 Mil. Therefore, Winton Land's Operating Margin % for the quarter that ended in Dec. 2025 was -12.55%.

Winton Land'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. Winton Land's annualized ROC % for the quarter that ended in Dec. 2025 was -0.32%. Winton Land's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was -3.44%.

Winton Land  (NZSE:WIN) Operating Income Explanation

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

Winton Land'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: Jun. 2025 ) + Invested Capital (Q: Dec. 2025 ))/ count )
=-8.028 * ( 1 - 72.73% )/( (669.118 + 693.995)/ 2 )
=-2.1892356/681.5565
=-0.32 %

where

Invested Capital(Q: Jun. 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))
=703.894 - 14.497 - ( 20.279 - max(0, 45.87 - 71.347+20.279))
=669.118

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))
=719.519 - 11.03 - ( 14.494 - max(0, 51.402 - 92.216+14.494))
=693.995

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

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

Winton Land'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: Jun. 2025  Q: Dec. 2025
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-4.662/( ( (93.373 + max(35.545, 0)) + (91.252 + max(51.266, 0)) )/ 2 )
=-4.662/( ( 128.918 + 142.518 )/ 2 )
=-4.662/135.718
=-3.44 %

where Working Capital is:

Working Capital(Q: Jun. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(0.652 + 46.368 + 4.048) - (14.497 + 1.026 + -7.105427357601E-15)
=35.545

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(5.21 + 72.512 + 0) - (11.03 + 0.155 + 15.271)
=51.266

When net working capital is negative, 0 is used.

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

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

Winton Land'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 )
=-4.014/31.986
=-12.55 %

* 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.

Winton Land Operating Income Related Terms

Winton Land Operating Income Historical Data

* Premium members only.

The historical data trend for Winton Land'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.

Winton Land Operating Income Chart

Winton Land Annual Data
Trend Jun21 Jun22 Jun23 Jun24 Jun25
Operating Income
0.00 42.11 81.39 16.25 -14.43

Winton Land Semi-Annual Data
Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Operating Income Get a 7-Day Free Trial Premium Member Only Premium Member Only 8.47 7.78 -0.90 -13.54 -4.01
NZSE:WIN
27GF Score
Winton Land Ltd NZSE:WIN
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Winton Land 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 Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was NZ$-17.55 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 NZ$-17.55 Mil mean?
Winton Land (NZSE:WIN) has a Operating Income of NZ$-17.55 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Winton Land and its competitors.
Is Winton Land's Operating Income too high?
Winton Land's current Operating Income is NZ$-17.55 Mil. Overall, Winton Land has a GF Score™ of 27/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Winton Land's Operating Income compare to competitors?
Winton Land's Operating Income of NZ$-17.55 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 Winton Land and its competitors. Winton Land's current Operating Income is NZ$-17.55 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Winton Land stock overvalued right now?
Based on GuruFocus' analysis, Winton Land (NZSE:WIN) is currently considered Modestly Overvalued. The stock's GF Value™ is NZ$0.90, compared to a current price of NZ$1.10 — trading 22.2% above its estimated fair value. The current Operating Income is NZ$-17.55 Mil. Winton Land's overall GF Score™ is 27/100 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 Winton Land (NZSE:WIN), the current Operating Income is NZ$-17.55 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 Winton Land (NZSE:WIN) Overvalued in 2026?

Based on GuruFocus' analysis, Winton Land stock appears to be overvalued. The current stock price of NZ$1.10 is trading 22.2% above its estimated GF Value™ of NZ$0.90. GuruFocus considers Winton Land to be Modestly Overvalued.

Key valuation signals for NZSE:WIN:

  • Operating Income: NZ$-17.55 Mil
  • GF Value™: NZ$0.90 vs. price of NZ$1.10 (22.2% above fair value)
  • GF Score™: 27/100 with 5 warning signs

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

Winton Land Business Description

Other Exchanges WTN:Australia
Address 11 Westhaven Drive Cracker Bay, Level 2, Auckland, NTL, NZL, 1010
Winton Land Ltd is a privately owned developer with projects in New Zealand and Australia. It specializes in developing integrated and fully master-planned communities. The company has a portfolio of several residential lots, dwellings, apartment units, and retirement village units. The company has three reportable segments, which are Residential development, Retirement villages, and Commercial portfolio, and the company generates the majority of its revenue from residential development.
27GF Score

Get the complete analysis for NZSE:WIN

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

NZ$1.10
Price
NZ$0.90
GF Value