Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Btsp II Fundo DE Investimento Imobiliario FII (BSP:BTSI11) Operating Margin % Explanation
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
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 Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) 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.
Btsp II Fundo DE Investimento Imobiliario FII Operating Margin % Related Terms
Btsp II Fundo DE Investimento Imobiliario FII Operating Margin % Historical Data
* 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.
Btsp II Fundo DE Investimento Imobiliario FII Operating Margin % Chart
Btsp II Fundo DE Investimento Imobiliario FII Annual Data
Trend
Dec21
Dec22
Dec23
Dec24
Dec25
Operating Margin %
0.00
63.31
94.05
91.42
95.03
Btsp II Fundo DE Investimento Imobiliario FII Semi-Annual Data
Dec21
Dec22
Dec23
Dec24
Dec25
Operating Margin %
0.00
63.31
94.05
91.42
95.03
BSP:BTSI11 vs PLD, PSA, EXR: Operating Margin % Comparison
For the REIT - Industrial subindustry, Btsp II Fundo DE Investimento Imobiliario FII's Operating Margin %, along with its competitors' market caps and Operating Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Btsp II Fundo DE Investimento Imobiliario FII Operating Margin % vs REITs Industry
Btsp II Fundo DE Investimento Imobiliario FII Operating Margin % Calculation
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
* 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.
Btsp II Fundo DE Investimento Imobiliario FII (BSP:BTSI11) has a Operating Margin % of 95.03% as of Dec. 2025. Operating margin is the ratio of total operating income to net sales. View historical data on Btsp II Fundo DE Investimento Imobiliario FII and its competitors. This is near median its historical median of 92.74. Over the past decade, Btsp II Fundo DE Investimento Imobiliario FII's Operating Margin % has ranged from 63.31 to 95.03.
Is Btsp II Fundo DE Investimento Imobiliario FII's Operating Margin % too high?
Btsp II Fundo DE Investimento Imobiliario FII's current Operating Margin % of 95.03% is near median its 10-year median of 92.74. Over the past 10 years, this metric has ranged from a low of 63.31 to a high of 95.03. The REITs industry median Operating Margin % is 52.74. Btsp II Fundo DE Investimento Imobiliario FII's value of 95.03% is 80.2% above this industry median. Overall, Btsp II Fundo DE Investimento Imobiliario FII has a GF Score™ of 14/100, reflecting its overall financial health beyond just this single metric.
How does Btsp II Fundo DE Investimento Imobiliario FII's Operating Margin % compare to PLD and PSA?
Btsp II Fundo DE Investimento Imobiliario FII's Operating Margin % of 95.03% can be compared against companies in the REITs industry. The industry median Operating Margin % is 52.74. Btsp II Fundo DE Investimento Imobiliario FII's value of 95.03% is 80.2% above this benchmark. Historically, Btsp II Fundo DE Investimento Imobiliario FII's own Operating Margin % has ranged from 63.31 to 95.03 over the past decade. While the company's 10-year median is 92.74 vs. the industry median of 52.74, Btsp II Fundo DE Investimento Imobiliario FII has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for a REITs company?
The median Operating Margin % among REITs companies is 52.74, based on 744 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Btsp II Fundo DE Investimento Imobiliario FII's current Operating Margin % of 95.03% is 80.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Btsp II Fundo DE Investimento Imobiliario FII and its competitors. For the REITs industry, the median Operating Margin % is 52.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Btsp II Fundo DE Investimento Imobiliario FII's current Operating Margin % is 95.03%, which is near median its own 10-year median of 92.74. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Btsp II Fundo DE Investimento Imobiliario FII stock overvalued right now?
Btsp II Fundo DE Investimento Imobiliario FII (BSP:BTSI11) has a current Operating Margin % of 95.03%. The stock's GF Value™ is R$185.25, compared to a current price of R$109.17 — trading 41.1% below its estimated fair value. The current Operating Margin % is 95.03%, which is near median its 10-year median of 92.74 and 80.2% above the REITs industry median of 52.74. Btsp II Fundo DE Investimento Imobiliario FII's overall GF Score™ is 14/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Btsp II Fundo DE Investimento Imobiliario FII (BSP:BTSI11), the current Operating Margin % is 95.03% 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 Btsp II Fundo DE Investimento Imobiliario FII (BSP:BTSI11) Overvalued in 2026?
Based on GuruFocus' analysis, Btsp II Fundo DE Investimento Imobiliario FII stock appears to be undervalued.
The current stock price of R$109.17 is trading 41.1% below its estimated GF Value™ of R$185.25.
Key valuation signals for BSP:BTSI11:
Operating Margin %: 95.03% (near median its 10-year median of 92.74)
GF Value™: R$185.25 vs. price of R$109.17 (41.1% below fair value)
No single metric tells the full story. See the BSP:BTSI11 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Btsp II Fundo DE Investimento Imobiliario FII Business Description
Btsp II Fundo DE Investimento Imobiliario FII is a closed end fund. The fund aims to develop real estate ventures focused on logistics and industrial operations, located in the Southeast and Midwest Regions, through the acquisition of land for construction or the acquisition of properties under construction or completed, for subsequent lease, rental or sale, including assets and rights related thereto, as well as other properties with potential income generation, and assets and rights related thereto.
14GF Score
Get the complete analysis for BSP:BTSI11
Operating Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BSP:BTSI11 has been successfully added to your 
