WRDEF (Wereldhave NV) Operating Income: $0.0 Mil (TTM As of Dec. 2025)

What is Wereldhave NV Operating Income?

Wereldhave NV WRDEF 54 Operating Income is $0.0 Mil as of Dec. 2025. GuruFocus rates WRDEF with a GF Score™ of 54/100 and a GF Value™ of $17.91 (Significantly Overvalued). The stock has 3 warning signs investors should review.

Wereldhave NV's Operating Income for the three months ended in Dec. 2025 was $0.0 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was $0.0 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. Wereldhave NV's Operating Income for the three months ended in Dec. 2025 was $0.0 Mil. Wereldhave NV's Revenue for the three months ended in Dec. 2025 was $92.0 Mil. Therefore, Wereldhave NV's Operating Margin % for the quarter that ended in Dec. 2025 was 0.00%.

Good Sign:

Wereldhave NV operating margin is expanding. Margin expansion is usually a good sign.

Wereldhave NV's 5-Year average Growth Rate for Operating Margin % was 4.00% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Wereldhave NV's annualized ROC % for the quarter that ended in Dec. 2025 was 0.00%. Wereldhave NV's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2025 was 0.00%.

Wereldhave NV (OTCPK:WRDEF) Operating Income Explanation

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

Wereldhave NV'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: Sep. 2025 )	+	Invested Capital (Q: Dec. 2025 ))	/ count )
=	0 * ( 1 - 0% )	/	( (-34.662	+	3058.169)	/ 2 )
=	0	/	1511.7535
=	0.00 %

where

	Invested Capital		(Q: Sep. 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	))
=	0	-	0	-	( 34.662	-	max(0, 0	-	34.662	+	34.662	))
=	-34.662

	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	))
=	3089.276	-	88.738	-	( 123.608	-	max(0, 249.423	-	191.792	+	123.608	))
=	3058.169

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

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

Wereldhave NV'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: Sep. 2025		Q: Dec. 2025
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	0	/	( ( (0 + max(0, 0))	+	(5.761 + max(-96.203, 0)) )	/	1 )
=	0	/	( ( 0	+	5.761 )	/	1 )
=	0	/	5.761
=	0.00 %

where Working Capital is:

	Working Capital		(Q: Sep. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(0	+	0	+	0)	-	(0	+	0	+	0)
=	0

	Working Capital		(Q: Dec. 2025 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(20.234	+	0	+	9.299)	-	(88.738	+	0	+	36.998)
=	-96.203

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2025) EBIT data.

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

Wereldhave NV'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 )
	=	0	/	92.005
	=	0.00 %

* 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 NV Operating Income Related Terms

Wereldhave NV Operating Income Historical Data

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The historical data trend for Wereldhave NV's Operating Income can be seen below:

Wereldhave NV Operating Income Chart

Wereldhave NV Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

Operating Income

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119.53

103.60

117.53

130.10

164.12

Wereldhave NV Quarterly Data
	Jun18	Dec18	Jun19	Dec19	Jun20	Dec20	Jun21	Dec21	Jun22	Dec22	Jun23	Dec23	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Operating Income	Get a 7-Day Free Trial															0.00	0.00	0.00	0.00	0.00

54GF Score

Wereldhave NV WRDEF

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Wereldhave NV 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 quarterly data reported by the company within the most recent 12 months, which was $0.0 Mil.

Frequently Asked Questions Learn more about Operating Income →

What does a Operating Income of $0.0 Mil mean?

Wereldhave NV (WRDEF) has a Operating Income of $0.0 Mil as of Dec. 2025. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on Wereldhave NV and its competitors.

Is Wereldhave NV's Operating Income too high?

Wereldhave NV's current Operating Income is $0.0 Mil. Overall, Wereldhave NV has a GF Score™ of 54/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.

How does Wereldhave NV's Operating Income compare to SPG and O?

Wereldhave NV's Operating Income of $0.0 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 NV and its competitors. Wereldhave NV's current Operating Income is $0.0 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Wereldhave NV stock overvalued right now?

Based on GuruFocus' analysis, Wereldhave NV (WRDEF) is currently considered Significantly Overvalued. The stock's GF Value™ is $17.91, compared to a current price of $25.75 — trading 43.8% above its estimated fair value. The current Operating Income is $0.0 Mil. Wereldhave NV's overall GF Score™ is 54/100 with 3 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 NV (WRDEF), the current Operating Income is $0.0 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 Wereldhave NV (WRDEF) Overvalued in 2026?

Based on GuruFocus' analysis, Wereldhave NV stock appears to be overvalued. The current stock price of $25.75 is trading 43.8% above its estimated GF Value™ of $17.91. GuruFocus considers Wereldhave NV to be Significantly Overvalued.

Key valuation signals for WRDEF:

Operating Income: $0.0 Mil
GF Value™: $17.91 vs. price of $25.75 (43.8% above fair value)
GF Score™: 54/100 with 3 warning signs

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

Wereldhave NV Business Description

Industry Real Estate REITs

Comparable Companies XAMS:ECMPA SPG O KIM XPAR:URW REG SGX:C38U ASX:SCG XPAR:LI HKSE:00823 FRT BRX ADC NNN ASX:VCX TSX:CHP.UN MAC EPRT KRG PECO

Other Exchanges WHA:Netherlands WHAa:UK 0NMR:UK WER:Germany

Address Nieuwe Passeerdersstraat 1, Amsterdam, NLD, 1016 XP

Website https://www.wereldhave.com

Wereldhave NV is a Dutch real estate investment company that owns and operates shopping centers in northwest continental Europe. The company's properties are located in large regional cities in the Netherlands, Belgium, Luxembourg, and France. Its Full Service Centers contribute to a finer everyday life for visitors and finer business for tenants by offering a one-stop location for groceries, shopping, leisure, relaxation, sports, health, work, and other daily needs. The group principally generates revenue from leasing retail space to tenants, which include fashion and accessories stores, restaurants and cafes, consumer electronics retailers, and homeware and household shops.

54GF Score

Get the complete analysis for WRDEF

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

$25.75

Price

$17.91

GF Value

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