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.
GLP J-REITTSE:3281 +0.43%75 Operating Margin % is 57.19% as of Feb. 2026, which is 6% above its 10-year median of 54.12. GuruFocus rates TSE:3281 with a GF Score™ of 75/100 and a GF Value™ of 円145,858.77 (Fairly Valued). The stock has 6 warning signs investors should review. Among 746 REITs companies, GLP J-REIT ranks better than 58.98% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. GLP J-REIT's Operating Income for the
six
months ended in Feb. 2026 was 円16,482 Mil. GLP J-REIT's Revenue for the
six
months ended in Feb. 2026 was 円28,821 Mil. Therefore, GLP J-REIT's Operating Margin % for the quarter that ended in Feb. 2026 was 57.19%.
Good Sign:
GLP J-REIT operating margin is expanding. Margin expansion is usually a good sign.
The historical rank and industry rank for GLP J-REIT's Operating Margin % or its related term are showing as below:
TSE:3281'
s Operating Margin % Range Over the Past 10 Years
Min: 52.17 Med: 54.12 Max: 57.53
Current: 57.53
TSE:3281's Operating Margin % is ranked better than 58.98% of 746
companies
in the REITs industry
Industry Median: 52.725
vs TSE:3281: 57.53
GLP J-REIT's 5-Year Average Operating Margin % Growth Rate was 0.60% per year.
GLP J-REIT's Operating Income for the
six
months ended in Feb. 2026 was 円16,482 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was 円34,130 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.
GLP J-REIT Operating Margin % Related Terms
GLP J-REIT Operating Margin % Historical Data
* Premium members only.
The historical data trend for GLP J-REIT'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.
TSE:3281 vs PLD, PSA, EXR: Operating Margin % Comparison
For the REIT - Industrial subindustry, GLP J-REIT'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.
GLP J-REIT Operating Margin % vs REITs Industry
For the REITs industry and Real Estate sector, GLP J-REIT's Operating Margin % distribution charts can be found below:
* The bar in red indicates where GLP J-REIT'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.
GLP J-REIT's Operating Margin % for the fiscal year that ended in Aug. 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.
GLP J-REIT (TSE:3281) has a Operating Margin % of 57.19% as of Feb. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on GLP J-REIT and its competitors. This is near median its historical median of 54.12. Over the past decade, GLP J-REIT's Operating Margin % has ranged from 52.17 to 57.53. According to the industry distribution chart, GLP J-REIT ranks #306 out of 746 companies in the REITs industry, placing it in the top 41%.
Is GLP J-REIT's Operating Margin % too high?
GLP J-REIT's current Operating Margin % of 57.19% is near median its 10-year median of 54.12. Over the past 10 years, this metric has ranged from a low of 52.17 to a high of 57.53. The REITs industry median Operating Margin % is 52.73. GLP J-REIT's value of 57.19% is 8.5% above this industry median. Based on the distribution chart, GLP J-REIT ranks #306 out of 746 companies in the REITs industry, which is above the industry midpoint. Overall, GLP J-REIT has a GF Score™ of 75/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does GLP J-REIT's Operating Margin % compare to PLD and PSA?
According to the REITs industry distribution chart, GLP J-REIT ranks #306 out of 746 companies for Operating Margin %. This puts GLP J-REIT in the upper half of its industry. The industry median Operating Margin % is 52.73. GLP J-REIT's value of 57.19% is 8.5% above this benchmark. Historically, GLP J-REIT's own Operating Margin % has ranged from 52.17 to 57.53 over the past decade. While the company's 10-year median is 54.12 vs. the industry median of 52.73, GLP J-REIT 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 52.73, based on 746 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. GLP J-REIT's current Operating Margin % of 57.19% is 8.5% 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 GLP J-REIT and its competitors. For the REITs industry, the median Operating Margin % is 52.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. GLP J-REIT's current Operating Margin % is 57.19%, which is near median its own 10-year median of 54.12. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is GLP J-REIT stock overvalued right now?
Based on GuruFocus' analysis, GLP J-REIT (TSE:3281) is currently considered Fairly Valued. The stock's GF Value™ is 円145,858.77, compared to a current price of 円139,800.00 — trading 4.2% below its estimated fair value. The current Operating Margin % is 57.19%, which is near median its 10-year median of 54.12 and 8.5% above the REITs industry median of 52.73. GLP J-REIT's overall GF Score™ is 75/100 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 GLP J-REIT (TSE:3281), the current Operating Margin % is 57.19% as of Feb. 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 GLP J-REIT (TSE:3281) Overvalued in 2026?
Based on GuruFocus' analysis, GLP J-REIT stock appears to be undervalued.
The current stock price of 円139,800.00 is trading 4.2% below its estimated GF Value™ of 円145,858.77.
GuruFocus considers GLP J-REIT to be Fairly Valued.
Key valuation signals for TSE:3281:
Operating Margin %: 57.19% (near median its 10-year median of 54.12)
GF Value™: 円145,858.77 vs. price of 円139,800.00 (4.2% below fair value)
Industry Position: 8.5% above the REITs median (#306 of 746)
No single metric tells the full story. See the TSE:3281 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
GLP J-REIT is a Japan-based real estate investment trust. The company invests in logistic facilities and related real estate properties mainly located in Kanto and Kansai regions and other areas. Its properties are classified under Multi-tenant property and build-to-suit property segments. It holds a range of proprieties such as GLP Tokyo, GLP Sugito II, GLP Koshigaya II, GLP Misato II, GLP Amagasaki, GLP Higashi-Ogishima, GLP Akishima, GLP Tomisato, GLP Narashino II, GLP Funabashi, GLP Kazo, GLP Fukaya and others.
75GF Score
Get the complete analysis for TSE:3281
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
TSE:3281 has been successfully added to your 
