Net operating income measures an income-producing property’s profitability before adding in any costs from financing or income taxes.

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Operating expenses are essential daily business costs, separate from production expenses. Reducing operating expenses can increase profitability, but cuts must not harm quality. Operating profit is ...

This report is one of a series on the adjustments we make to convert GAAP data to economic earnings. Reported earnings don’t tell the whole story of a company’s profits. They are based on ...