CovivioFNCDY 60 Operating Margin % is 24.96% as of Dec. 2025, which is 67% below its 10-year median of 75.13. GuruFocus rates FNCDY with a GF Score™ of 60/100 and a GF Value™ of $11.16 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 749 REITs companies, Covivio ranks better than 62.48% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. Covivio's Operating Income for the
six
months ended in Dec. 2025 was $204 Mil. Covivio's Revenue for the
six
months ended in Dec. 2025 was $819 Mil. Therefore, Covivio's Operating Margin % for the quarter that ended in Dec. 2025 was 24.96%.
Warning Sign:
Covivio SA operating margin has been in a 5-year decline. The average rate of decline per year is -5.3%.
The historical rank and industry rank for Covivio's Operating Margin % or its related term are showing as below:
FNCDY'
s Operating Margin % Range Over the Past 10 Years
Min: 60.15 Med: 75.13 Max: 84.32
Current: 60.15
FNCDY's Operating Margin % is ranked better than 62.48% of 749
companies
in the REITs industry
Industry Median: 52.71
vs FNCDY: 60.15
Covivio's 5-Year Average Operating Margin % Growth Rate was -5.30% per year.
Covivio's Operating Income for the
six
months ended in Dec. 2025 was $204 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was $971 Mil.
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.
Covivio Operating Margin % Related Terms
Covivio Operating Margin % Historical Data
* Premium members only.
The historical data trend for Covivio'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.
FNCDY vs VICI, WPC, BNL: Operating Margin % Comparison
For the REIT - Diversified subindustry, Covivio'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.
Covivio Operating Margin % vs REITs Industry
For the REITs industry and Real Estate sector, Covivio's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Covivio's Operating Margin % falls into.
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.
Covivio's Operating Margin % for the fiscal year that ended in Dec. 2025 is calculated as
* 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.
Covivio (FNCDY) has a Operating Margin % of 24.96% as of Dec. 2025. Operating margin is the ratio of total operating income to net sales. View historical data on Covivio and its competitors. This is 67% below median its historical median of 75.13. Over the past decade, Covivio's Operating Margin % has ranged from 60.15 to 84.32. According to the industry distribution chart, Covivio ranks #281 out of 749 companies in the REITs industry, placing it in the top 37.5%.
Is Covivio's Operating Margin % too high?
Covivio's current Operating Margin % of 24.96% is 67% below median its 10-year median of 75.13. Over the past 10 years, this metric has ranged from a low of 60.15 to a high of 84.32. The REITs industry median Operating Margin % is 52.71. Covivio's value of 24.96% is 52.6% below this industry median. Based on the distribution chart, Covivio ranks #281 out of 749 companies in the REITs industry, which is above the industry midpoint. Overall, Covivio has a GF Score™ of 60/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Covivio's Operating Margin % compare to VICI and WPC?
According to the REITs industry distribution chart, Covivio ranks #281 out of 749 companies for Operating Margin %. This puts Covivio in the upper half of its industry. The industry median Operating Margin % is 52.71. Covivio's value of 24.96% is 52.6% below this benchmark. Historically, Covivio's own Operating Margin % has ranged from 60.15 to 84.32 over the past decade. While the company's 10-year median is 75.13 vs. the industry median of 52.71, Covivio 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 52.71, based on 749 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. Covivio's current Operating Margin % of 24.96% is 52.6% 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 Covivio and its competitors. For the REITs industry, the median Operating Margin % is 52.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Covivio's current Operating Margin % is 24.96%, which is 67% below median its own 10-year median of 75.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Covivio stock overvalued right now?
Based on GuruFocus' analysis, Covivio (FNCDY) is currently considered Significantly Overvalued. The stock's GF Value™ is $11.16, compared to a current price of $17.03 — trading 52.6% above its estimated fair value. The current Operating Margin % is 24.96%, which is 67% below median its 10-year median of 75.13 and 52.6% below the REITs industry median of 52.71. Covivio's overall GF Score™ is 60/100 with 8 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 Covivio (FNCDY), the current Operating Margin % is 24.96% 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 Covivio (FNCDY) Overvalued in 2026?
Based on GuruFocus' analysis, Covivio stock appears to be overvalued.
The current stock price of $17.03 is trading 52.6% above its estimated GF Value™ of $11.16.
GuruFocus considers Covivio to be Significantly Overvalued.
Key valuation signals for FNCDY:
Operating Margin %: 24.96% (67% below median its 10-year median of 75.13)
GF Value™: $11.16 vs. price of $17.03 (52.6% above fair value)
Industry Position: 52.6% below the REITs median (#281 of 749)
No single metric tells the full story. See the FNCDY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Covivio SA is a French real estate investment trust involved in the ownership of properties mainly in France, Italy, and Germany. The majority of the properties in the company's real estate portfolio are office buildings located in Paris and Milan. German residential properties also represent a significant percentage of its total assets. Fonciere des Regions derives nearly all of its revenue in the form of rental income from the ownership and maintenance of its portfolio of properties. French offices generate the majority revenue for the company, while Italian office buildings and German residential buildings in Berlin, Hamburg, and Dresden also contribute sizable income streams.
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