One REITTSE:3290 +0.81%54 Operating Margin % is 50.19% as of Feb. 2026, which is 8% above its 10-year median of 46.54. GuruFocus rates TSE:3290 with a GF Score™ of 54/100 and a GF Value™ of 円89,294.41 (Modestly Undervalued). The stock has 7 warning signs investors should review. Among 749 REITs companies, One REIT ranks worse than 51% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. One REIT's Operating Income for the
six
months ended in Feb. 2026 was 円2,354 Mil. One REIT's Revenue for the
six
months ended in Feb. 2026 was 円4,690 Mil. Therefore, One REIT's Operating Margin % for the quarter that ended in Feb. 2026 was 50.19%.
Warning Sign:
One REIT Inc operating margin has been in a 5-year decline. The average rate of decline per year is -1.5%.
The historical rank and industry rank for One REIT's Operating Margin % or its related term are showing as below:
TSE:3290'
s Operating Margin % Range Over the Past 10 Years
Min: 39.7 Med: 46.54 Max: 52.08
Current: 52.08
TSE:3290's Operating Margin % is ranked worse than 51% of 749
companies
in the REITs industry
Industry Median: 52.71
vs TSE:3290: 52.08
One REIT's 5-Year Average Operating Margin % Growth Rate was -1.50% per year.
One REIT's Operating Income for the
six
months ended in Feb. 2026 was 円2,354 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was 円5,220 Mil.
One REIT (TSE:3290) 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.
One REIT Operating Margin % Related Terms
One REIT Operating Margin % Historical Data
* Premium members only.
The historical data trend for One 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:3290 vs BXP, ARE, VNO: Operating Margin % Comparison
For the REIT - Office subindustry, One 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.
One REIT Operating Margin % vs REITs Industry
For the REITs industry and Real Estate sector, One REIT's Operating Margin % distribution charts can be found below:
* The bar in red indicates where One 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.
One REIT's Operating Margin % for the fiscal year that ended in Aug. 2024 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.
One REIT (TSE:3290) has a Operating Margin % of 50.19% as of Feb. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on One REIT and its competitors. This is near median its historical median of 46.54. Over the past decade, One REIT's Operating Margin % has ranged from 39.70 to 52.08. According to the industry distribution chart, One REIT ranks #382 out of 749 companies in the REITs industry, placing it in the top 51%.
Is One REIT's Operating Margin % too high?
One REIT's current Operating Margin % of 50.19% is near median its 10-year median of 46.54. Over the past 10 years, this metric has ranged from a low of 39.70 to a high of 52.08. The REITs industry median Operating Margin % is 52.71. One REIT's value of 50.19% is 4.8% below this industry median. Based on the distribution chart, One REIT ranks #382 out of 749 companies in the REITs industry, which is below the industry midpoint. Overall, One REIT has a GF Score™ of 54/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does One REIT's Operating Margin % compare to BXP and ARE?
According to the REITs industry distribution chart, One REIT ranks #382 out of 749 companies for Operating Margin %. This places One REIT in the lower half of its industry. The industry median Operating Margin % is 52.71. One REIT's value of 50.19% is 4.8% below this benchmark. Historically, One REIT's own Operating Margin % has ranged from 39.70 to 52.08 over the past decade. While the company's 10-year median is 46.54 vs. the industry median of 52.71, One REIT 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. One REIT's current Operating Margin % of 50.19% is 4.8% 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 One REIT 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. One REIT's current Operating Margin % is 50.19%, which is near median its own 10-year median of 46.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is One REIT stock overvalued right now?
Based on GuruFocus' analysis, One REIT (TSE:3290) is currently considered Modestly Undervalued. The stock's GF Value™ is 円89,294.41, compared to a current price of 円74,900.00 — trading 16.1% below its estimated fair value. The current Operating Margin % is 50.19%, which is near median its 10-year median of 46.54 and 4.8% below the REITs industry median of 52.71. One REIT's overall GF Score™ is 54/100 with 7 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 One REIT (TSE:3290), the current Operating Margin % is 50.19% 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 One REIT (TSE:3290) Overvalued in 2026?
Based on GuruFocus' analysis, One REIT stock appears to be undervalued.
The current stock price of 円74,900.00 is trading 16.1% below its estimated GF Value™ of 円89,294.41.
GuruFocus considers One REIT to be Modestly Undervalued.
Key valuation signals for TSE:3290:
Operating Margin %: 50.19% (near median its 10-year median of 46.54)
GF Value™: 円89,294.41 vs. price of 円74,900.00 (16.1% below fair value)
Industry Position: 4.8% below the REITs median (#382 of 749)
No single metric tells the full story. See the TSE:3290 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
One REIT Inc operates as a real estate investment trust. The company invest in commercial real estate and office buildings in Japan. It operates in a single segment, which is real estate leasing.
54GF Score
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