WAM ResearchASX:WAX 39 FCF Margin % is -349.30% as of Dec. 2025. GuruFocus rates ASX:WAX with a GF Score™ of 39/100 and a GF Value™ of A$0.01 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 1,461 Asset Management companies, WAM Research ranks better than 99.66% on this metric.
FCF Margin % is calculated as Free Cash Flow divided by its Revenue. WAM Research's Free Cash Flow for the
six
months ended in Dec. 2025 was A$13.23 Mil. WAM Research's Revenue for the
six
months ended in Dec. 2025 was A$-3.79 Mil. Therefore, WAM Research's FCF Margin % for the quarter that ended in Dec. 2025 was -349.30%.
The historical rank and industry rank for WAM Research's FCF Margin % or its related term are showing as below:
ASX:WAX'
s FCF Margin % Range Over the Past 10 Years
Min: -157.7 Med: 14.38 Max: 40671.43
Current: 40671.43
During the past 13 years, the highest FCF Margin % of WAM Research was 40671.43%. The lowest was -157.70%. And the median was 14.38%.
ASX:WAX's FCF Margin % is ranked better than 99.66% of 1461
companies
in the Asset Management industry
Industry Median: 14.62
vs ASX:WAX: 40671.43
WAM Research FCF Margin % Related Terms
WAM Research FCF Margin % Historical Data
* Premium members only.
The historical data trend for WAM Research's FCF 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.
For the Asset Management subindustry, WAM Research's FCF Margin %, along with its competitors' market caps and FCF 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.
WAM Research FCF Margin % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, WAM Research's FCF Margin % distribution charts can be found below:
* The bar in red indicates where WAM Research's FCF Margin % falls into.
* 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.
WAM Research (ASX:WAX) has a FCF Margin % of -349.30% as of Dec. 2025. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on WAM Research and its competitors. According to the industry distribution chart, WAM Research ranks #5 out of 1461 companies in the Asset Management industry, placing it in the top 0.3%.
Is WAM Research's FCF Margin % too high?
WAM Research's current FCF Margin % is -349.30%. Based on the distribution chart, WAM Research ranks #5 out of 1461 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, WAM Research has a GF Score™ of 39/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does WAM Research's FCF Margin % compare to BLK and BX?
According to the Asset Management industry distribution chart, WAM Research ranks #5 out of 1461 companies for FCF Margin %. This places WAM Research in the top 0% of its industry — outperforming the majority of peers. The industry median FCF Margin % is 14.62. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good FCF Margin % for an Asset Management company?
The median FCF Margin % among Asset Management companies is 14.62, based on 1,461 companies in the industry. Companies in the top quartile (top 25%) have a FCF Margin % significantly above this median, while those in the bottom quartile fall well below. However, FCF Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high FCF Margin % mean?
A high FCF Margin % can signal that a stock is expensive relative to its fundamentals. Free cash flow margin is the ratio of total free cash flow to net sales. View historical data on WAM Research and its competitors. For the Asset Management industry, the median FCF Margin % is 14.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WAM Research's current FCF Margin % is -349.30%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WAM Research stock overvalued right now?
Based on GuruFocus' analysis, WAM Research (ASX:WAX) is currently considered Significantly Overvalued. The stock's GF Value™ is A$0.01, compared to a current price of A$1.03 — trading 10150% above its estimated fair value. The current FCF Margin % is -349.30%. WAM Research's overall GF Score™ is 39/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is FCF Margin % calculated?
FCF Margin % is calculated from a company's financial statements. For WAM Research (ASX:WAX), the current FCF Margin % is -349.30% 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 WAM Research (ASX:WAX) Overvalued in 2026?
Based on GuruFocus' analysis, WAM Research stock appears to be overvalued.
The current stock price of A$1.03 is trading 10150% above its estimated GF Value™ of A$0.01.
GuruFocus considers WAM Research to be Significantly Overvalued.
Key valuation signals for ASX:WAX:
FCF Margin %: -349.30%
GF Value™: A$0.01 vs. price of A$1.03 (10150% above fair value)
No single metric tells the full story. See the ASX:WAX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
WAM Research Ltd is engaged in making investments in listed companies, including cash, term deposits, and equity investments. The company's investment objectives are to deliver a stream of fully franked dividends and to achieve a high real rate of return, comprising both income and capital growth, within the risk parameters acceptable.
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