Mori Trust Reit (TSE:8961) Operating Income: 円15,441 Mil (TTM As of Feb. 2024)

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TSE:8961 Mori Trust Reit Inc TSE:8961
12 GF Score
Price 円74,200.00
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What is Mori Trust Reit Operating Income?

Mori Trust Reit TSE:8961 -0.27% 12 Operating Income is 円15,441 Mil as of Feb. 2024. GuruFocus rates TSE:8961 with a GF Score™ of 12/100.

Mori Trust Reit's Operating Income for the six months ended in Feb. 2024 was 円7,937 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2024 was 円15,441 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Mori Trust Reit's Operating Income for the six months ended in Feb. 2024 was 円7,937 Mil. Mori Trust Reit's Revenue for the six months ended in Feb. 2024 was 円12,081 Mil. Therefore, Mori Trust Reit's Operating Margin % for the quarter that ended in Feb. 2024 was 65.70%.

Mori Trust Reit'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. Mori Trust Reit's annualized ROC % for the quarter that ended in Feb. 2024 was 3.12%. Mori Trust Reit's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2024 was 3.50%.


Mori Trust Reit  (TSE:8961) Operating Income Explanation

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

Mori Trust Reit's annualized ROC % for the quarter that ended in Feb. 2024 is calculated as:

ROC % (Q: Feb. 2024 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Aug. 2023 ) + Invested Capital (Q: Feb. 2024 ))/ count )
=15874.482 * ( 1 - 0.13% )/( (508922.982 + 507884.907)/ 2 )
=15853.8451734/508403.9445
=3.12 %

where

Invested Capital(Q: Aug. 2023 )
=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))
=473191.28 - 813.335 - ( 16376.466 - max(0, 58172.803 - 21627.766+16376.466))
=508922.982

Invested Capital(Q: Feb. 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))
=476364.487 - 1134.852 - ( 20918.767 - max(0, 58643.214 - 25987.942+20918.767))
=507884.907

Note: The Operating Income data used here is two times the semi-annual (Feb. 2024) data.

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

Mori Trust Reit's annualized ROC (Joel Greenblatt) % for the quarter that ended in Feb. 2024 is calculated as:

ROC (Joel Greenblatt) %(Q: Feb. 2024 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Aug. 2023  Q: Feb. 2024
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=15832.096/( ( (450758.867 + max(2578.485, 0)) + (449554.378 + max(1925.885, 0)) )/ 2 )
=15832.096/( ( 453337.352 + 451480.263 )/ 2 )
=15832.096/452408.8075
=3.50 %

where Working Capital is:

Working Capital(Q: Aug. 2023 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(130.318 + 0 + 5120.97) - (813.335 + 0 + 1859.468)
=2578.485

Working Capital(Q: Feb. 2024 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(136.518 + 0 + 4932.581) - (1134.852 + 0 + 2008.362)
=1925.885

When net working capital is negative, 0 is used.

Note: The EBIT data used here is two times the semi-annual (Feb. 2024) EBIT data.

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

Mori Trust Reit's Operating Margin % for the quarter that ended in Feb. 2024 is calculated as:

Operating Margin %=Operating Income (Q: Feb. 2024 )/Revenue (Q: Feb. 2024 )
=7937.241/12080.806
=65.70 %

* 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.


Mori Trust Reit Operating Income Related Terms


Mori Trust Reit Operating Income Historical Data

* Premium members only.

The historical data trend for Mori Trust 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.

Mori Trust Reit Operating Income Chart

Mori Trust Reit Annual Data
Trend Sep13 Sep14 Sep15 Sep16 Sep17 Sep18 Sep19 Sep20 Sep21 Sep22
Operating Income
Get a 7-Day Free Trial Premium Member Only Premium Member Only 10,511.80 10,635.74 10,835.25 11,028.22 8,470.67

Mori Trust Reit Semi-Annual Data
Sep14 Mar15 Sep15 Mar16 Sep16 Mar17 Sep17 Mar18 Sep18 Mar19 Sep19 Mar20 Sep20 Mar21 Sep21 Mar22 Sep22 Aug23 Feb24 Aug24
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 5,042.35 3,428.33 7,438.62 7,937.24 7,503.49
TSE:8961
12GF Score
Mori Trust Reit Inc TSE:8961
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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Mori Trust 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. 2024 adds up the semi-annually data reported by the company within the most recent 12 months, which was 円15,441 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 円15,441 Mil mean?
Mori Trust Reit (TSE:8961) has a Operating Income of 円15,441 Mil as of Feb. 2024. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Mori Trust Reit and its competitors.
Is Mori Trust Reit's Operating Income too high?
Mori Trust Reit's current Operating Income is 円15,441 Mil. Overall, Mori Trust Reit has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Mori Trust Reit's Operating Income compare to ARE and BXP?
Mori Trust Reit's Operating Income of 円15,441 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 Mori Trust Reit and its competitors. Mori Trust Reit's current Operating Income is 円15,441 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Mori Trust Reit stock overvalued right now?
Mori Trust Reit (TSE:8961) has a current Operating Income of 円15,441 Mil. The current Operating Income is 円15,441 Mil. Mori Trust Reit's overall GF Score™ is 12/100. 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 Mori Trust Reit (TSE:8961), the current Operating Income is 円15,441 Mil as of Feb. 2024. 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.

Mori Trust Reit Business Description

Industry Real EstateREITs
Address 3-1 Toranomon 4-chome, Minato-ku, Tokyo, JPN
Mori Trust Reit Inc is a real estate investment trust company. Its objective is to achieve sustainable growth and stable earnings from mid- to long-term perspectives. It invests in office buildings, commercial facilities, housings, and hotels. The company owns more than 10 properties in and around Central Tokyo and others. The company generates its revenue from its leasing business.
12GF Score

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

円74,200.00
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