IGB Real Estate Investment Trust (XKLS:5227) Operating Income: RM607.2 Mil (TTM As of Jun. 2026)

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XKLS:5227 IGB Real Estate Investment Trust XKLS:5227
87 GF Score
Price RM2.76
GF Value RM2.78
Valuation Fairly Valued
! 2 Warning Signs
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What is IGB Real Estate Investment Trust Operating Income?

IGB Real Estate Investment Trust XKLS:5227 +0.73% 87 Operating Income is RM607.2 Mil as of Jun. 2026. GuruFocus rates XKLS:5227 with a GF Score™ of 87/100 and a GF Value™ of RM2.78 (Fairly Valued). The stock has 2 warning signs investors should review.

IGB Real Estate Investment Trust's Operating Income for the three months ended in Jun. 2026 was RM164.1 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was RM607.2 Mil.

Operating Margin % is calculated as Operating Income divided by its Revenue. IGB Real Estate Investment Trust's Operating Income for the three months ended in Jun. 2026 was RM164.1 Mil. IGB Real Estate Investment Trust's Revenue for the three months ended in Jun. 2026 was RM241.0 Mil. Therefore, IGB Real Estate Investment Trust's Operating Margin % for the quarter that ended in Jun. 2026 was 68.10%.

Good Sign:

IGB Real Estate Investment Trust operating margin is expanding. Margin expansion is usually a good sign.

IGB Real Estate Investment Trust's 5-Year average Growth Rate for Operating Margin % was 2.40% per year.

Operating Income or EBIT is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. IGB Real Estate Investment Trust's annualized ROC % for the quarter that ended in Jun. 2026 was 7.82%. IGB Real Estate Investment Trust's annualized ROC (Joel Greenblatt) % for the quarter that ended in Jun. 2026 was 28,480.53%.


IGB Real Estate Investment Trust  (XKLS:5227) Operating Income Explanation

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

IGB Real Estate Investment Trust'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: Mar. 2026 ) + Invested Capital (Q: Jun. 2026 ))/ count )
=656.372 * ( 1 - 0% )/( (8386.026 + 8392.607)/ 2 )
=656.372/8389.3165
=7.82 %

where

Invested Capital(Q: Mar. 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))
=8792.484 - 241.006 - ( 341.746 - max(0, 253.956 - 419.408+341.746))
=8386.026

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))
=8783.583 - 251.296 - ( 347.475 - max(0, 269.75 - 409.43+347.475))
=8392.607

Note: The Operating Income data used here is four times the quarterly (Jun. 2026) data.

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

IGB Real Estate Investment Trust'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: Mar. 2026  Q: Jun. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=650.068/( ( (2.199 + max(-163.344, 0)) + (2.366 + max(-189.341, 0)) )/ 2 )
=650.068/( ( 2.199 + 2.366 )/ 2 )
=650.068/2.2825
=28,480.53 %

where Working Capital is:

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(77.662 + 0 + 0) - (241.006 + 0 + 0)
=-163.344

Working Capital(Q: Jun. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(61.955 + 0 + 0) - (251.296 + 0 + 0)
=-189.341

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Jun. 2026) EBIT data.

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

IGB Real Estate Investment Trust'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 )
=164.093/240.952
=68.10 %

* 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.


IGB Real Estate Investment Trust Operating Income Related Terms


IGB Real Estate Investment Trust Operating Income Historical Data

* Premium members only.

The historical data trend for IGB Real Estate Investment Trust'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.

IGB Real Estate Investment Trust Operating Income Chart

IGB Real Estate Investment Trust 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 244.55 381.92 407.64 414.04 485.80

IGB Real Estate Investment Trust Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 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 109.17 114.11 140.67 188.35 164.09
XKLS:5227
87GF Score
IGB Real Estate Investment Trust XKLS:5227
Operating Income is just one metric. See GF Score™, valuation, warning signs, and more.
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IGB Real Estate Investment Trust 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 quarterly data reported by the company within the most recent 12 months, which was RM607.2 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 RM607.2 Mil mean?
IGB Real Estate Investment Trust (XKLS:5227) has a Operating Income of RM607.2 Mil as of Jun. 2026. Operating Income equals sales less all operating expenses. It is linked to EBIT. View historical data on IGB Real Estate Investment Trust and its competitors.
Is IGB Real Estate Investment Trust's Operating Income too high?
IGB Real Estate Investment Trust's current Operating Income is RM607.2 Mil. Overall, IGB Real Estate Investment Trust has a GF Score™ of 87/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does IGB Real Estate Investment Trust's Operating Income compare to SPG and O?
IGB Real Estate Investment Trust's Operating Income of RM607.2 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 IGB Real Estate Investment Trust and its competitors. IGB Real Estate Investment Trust's current Operating Income is RM607.2 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is IGB Real Estate Investment Trust stock overvalued right now?
Based on GuruFocus' analysis, IGB Real Estate Investment Trust (XKLS:5227) is currently considered Fairly Valued. The stock's GF Value™ is RM2.78, compared to a current price of RM2.76 — trading 0.7% below its estimated fair value. The current Operating Income is RM607.2 Mil. IGB Real Estate Investment Trust's overall GF Score™ is 87/100 with 2 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 IGB Real Estate Investment Trust (XKLS:5227), the current Operating Income is RM607.2 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 IGB Real Estate Investment Trust (XKLS:5227) Overvalued in 2026?

Based on GuruFocus' analysis, IGB Real Estate Investment Trust stock appears to be undervalued. The current stock price of RM2.76 is trading 0.7% below its estimated GF Value™ of RM2.78. GuruFocus considers IGB Real Estate Investment Trust to be Fairly Valued.

Key valuation signals for XKLS:5227:

  • Operating Income: RM607.2 Mil
  • GF Value™: RM2.78 vs. price of RM2.76 (0.7% below fair value)
  • GF Score™: 87/100 with 2 warning signs

No single metric tells the full story. See the XKLS:5227 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


IGB Real Estate Investment Trust Business Description

Industry Real EstateREITs
Address Level 32, The Gardens South Tower, Mid Valley City, Lingkaran Syed Putra, Kuala Lumpur, SGR, MYS, 59200
IGB Real Estate Investment Trust is a Malaysian retail property investment company. The company's portfolio includes retail properties and mixed-use developments which have a retail component. Properties are located both domestically and internationally. The company has two retail malls in its portfolio: MVM, which is the Mid Valley Megamall; and TGM, which refers to the Gardens Mall. MVM delivers more than twice as much revenue as TGM. The trust generates the majority of revenue from leasing its properties, in addition to service and promotional charges from tenants.
87GF Score

Get the complete analysis for XKLS:5227

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

RM2.76
Price
RM2.78
GF Value