Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario (BSP:MFII11) Operating Margin %: 48.06% (As of Dec. 2025) — Near Median


BSP:MFII11 Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario BSP:MFII11
42 GF Score
Price R$50.71
GF Value R$35.23
Valuation Significantly Overvalued
! 5 Warning Signs
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What is Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario Operating Margin %?

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario BSP:MFII11 +0.32% 42 Operating Margin % is 48.06% as of Dec. 2025, which is at its 10-year median of 48.06. GuruFocus rates BSP:MFII11 with a GF Score™ of 42/100 and a GF Value™ of R$35.23 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 750 REITs companies, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario ranks worse than 58.8% on this metric.

Operating Margin % is calculated as Operating Income divided by its Revenue. Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's Operating Income for the six months ended in Dec. 2025 was R$8.60 Mil. Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's Revenue for the six months ended in Dec. 2025 was R$17.89 Mil. Therefore, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's Operating Margin % for the quarter that ended in Dec. 2025 was 48.06%.

The historical rank and industry rank for Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's Operating Margin % or its related term are showing as below:

BSP:MFII11' s Operating Margin % Range Over the Past 10 Years
Min: -206.3   Med: 48.06   Max: 90.52
Current: 48.06


BSP:MFII11's Operating Margin % is ranked worse than
58.8% of 750 companies
in the REITs industry
Industry Median: 52.67 vs BSP:MFII11: 48.06

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's 5-Year Average Operating Margin % Growth Rate was 0.00% per year.

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's Operating Income for the six months ended in Dec. 2025 was R$8.60 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was R$8.60 Mil.


Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario  (BSP:MFII11) 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 Nokia’s 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.


Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario Operating Margin % Related Terms


Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario Operating Margin % Historical Data

* Premium members only.

The historical data trend for Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's Operating Margin % 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.

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario Operating Margin % Chart

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario Annual Data
Trend Dec21 Dec22 Dec23 Dec24 Dec25
Operating Margin %
-206.30 63.34 90.52 32.41 48.06

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario Semi-Annual Data
Dec21 Dec22 Dec23 Dec24 Dec25
Operating Margin % -206.30 63.34 90.52 32.41 48.06

BSP:MFII11 vs VICI, WPC: Operating Margin % Comparison

For the REIT - Diversified subindustry, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario'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.


Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario Operating Margin % vs REITs Industry

For the REITs industry and Real Estate sector, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's Operating Margin % distribution charts can be found below:

* The bar in red indicates where Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's Operating Margin % falls into.


BSP:MFII11
42GF Score
Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario BSP:MFII11
Operating Margin % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario 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.

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's Operating Margin % for the fiscal year that ended in Dec. 2025 is calculated as

Operating Margin %=Operating Income (A: Dec. 2025 ) / Revenue (A: Dec. 2025 )
=8.599 / 17.893
=48.06 %

Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario'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 )
=8.599 / 17.893
=48.06 %

* 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 Margin % →
What does a Operating Margin % of 48.06% mean?
Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario (BSP:MFII11) has a Operating Margin % of 48.06% as of Dec. 2025. Operating margin is the ratio of total operating income to net sales. View historical data on Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario and its competitors. This is near median its historical median of 48.06. According to the industry distribution chart, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario ranks #441 out of 750 companies in the REITs industry, placing it in the top 58.8%.
Is Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's Operating Margin % too high?
Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's current Operating Margin % of 48.06% is near median its 10-year median of 48.06. The REITs industry median Operating Margin % is 52.67. Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's value of 48.06% is 8.8% below this industry median. Based on the distribution chart, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario ranks #441 out of 750 companies in the REITs industry, which is below the industry midpoint. Overall, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario has a GF Score™ of 42/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's Operating Margin % compare to VICI and WPC?
According to the REITs industry distribution chart, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario ranks #441 out of 750 companies for Operating Margin %. This places Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario in the lower half of its industry. The industry median Operating Margin % is 52.67. Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's value of 48.06% is 8.8% below this benchmark. While the company's 10-year median is 48.06 vs. the industry median of 52.67, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario has consistently been below 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 52.67, based on 750 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. Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's current Operating Margin % of 48.06% is 8.8% below 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 Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario and its competitors. For the REITs industry, the median Operating Margin % is 52.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's current Operating Margin % is 48.06%, which is near median its own 10-year median of 48.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario stock overvalued right now?
Based on GuruFocus' analysis, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario (BSP:MFII11) is currently considered Significantly Overvalued. The stock's GF Value™ is R$35.23, compared to a current price of R$50.71 — trading 43.9% above its estimated fair value. The current Operating Margin % is 48.06%, which is near median its 10-year median of 48.06 and 8.8% below the REITs industry median of 52.67. Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario's overall GF Score™ is 42/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario (BSP:MFII11), the current Operating Margin % is 48.06% 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 Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario (BSP:MFII11) Overvalued in 2026?

Based on GuruFocus' analysis, Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario stock appears to be overvalued. The current stock price of R$50.71 is trading 43.9% above its estimated GF Value™ of R$35.23. GuruFocus considers Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario to be Significantly Overvalued.

Key valuation signals for BSP:MFII11:

  • Operating Margin %: 48.06% (near median its 10-year median of 48.06)
  • GF Value™: R$35.23 vs. price of R$50.71 (43.9% above fair value)
  • GF Score™: 42/100 with 5 warning signs
  • Industry Position: 8.8% below the REITs median (#441 of 750)

No single metric tells the full story. See the BSP:MFII11 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario Business Description

Industry Real EstateREITs
Address Rua Funchal, 418 - 21 andar, Sao Paulo, SP, BRA, 04548-004
Merito Desenvolvimento Imobiliario I FII Fundo de Investimento Imobiliario is a real estate investment trust. It is engaged in the acquisition of interests in real estate development projects developed in partnership with developers.
42GF Score

Get the complete analysis for BSP:MFII11

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

R$50.71
Price
R$35.23
GF Value