WAM ResearchASX:WAX 39 Net Margin % is 84.87% as of Dec. 2025, which is 25% above its 10-year median of 68.05. GuruFocus rates ASX:WAX with a GF Score™ of 39/100 and a GF Value™ of A$0.01 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 1,576 Asset Management companies, WAM Research ranks worse than 98.35% on this metric.
Net margin is calculated as Net Income divided by its Revenue. WAM Research's Net Income for the
six
months ended in Dec. 2025 was A$-3.21 Mil. WAM Research's Revenue for the
six
months ended in Dec. 2025 was A$-3.79 Mil. Therefore, WAM Research's net margin for the quarter that ended in Dec. 2025 was 84.87%.
The historical rank and industry rank for WAM Research's Net Margin % or its related term are showing as below:
ASX:WAX'
s Net Margin % Range Over the Past 10 Years
Min: -2573.81 Med: 68.05 Max: 75.89
Current: -2573.81
ASX:WAX's Net Margin % is ranked worse than 98.35% of 1576
companies
in the Asset Management industry
Industry Median: 84.895
vs ASX:WAX: -2573.81
WAM Research (ASX:WAX) Net Margin % Explanation
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
WAM Research Net Margin % Related Terms
WAM Research Net Margin % Historical Data
* Premium members only.
The historical data trend for WAM Research's Net 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 Net Margin %, along with its competitors' market caps and Net 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 Net Margin % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, WAM Research's Net Margin % distribution charts can be found below:
* The bar in red indicates where WAM Research's Net 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 Net Margin % of 84.87% as of Dec. 2025. Net margin is the ratio of total net income to net sales. View historical data on WAM Research and its competitors. This is 25% above median its historical median of 68.05. According to the industry distribution chart, WAM Research ranks #1550 out of 1576 companies in the Asset Management industry, placing it in the top 98.4%.
Is WAM Research's Net Margin % too high?
WAM Research's current Net Margin % of 84.87% is 25% above median its 10-year median of 68.05. The Asset Management industry median Net Margin % is 84.90. WAM Research's value of 84.87% is 0% below this industry median. Based on the distribution chart, WAM Research ranks #1550 out of 1576 companies in the Asset Management industry, which is in the bottom quartile 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 Net Margin % compare to BLK and BX?
According to the Asset Management industry distribution chart, WAM Research ranks #1550 out of 1576 companies for Net Margin %. This places WAM Research in the lower half of its industry. The industry median Net Margin % is 84.90. WAM Research's value of 84.87% is 0% below this benchmark. While the company's 10-year median is 68.05 vs. the industry median of 84.90, WAM Research 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 Net Margin % for an Asset Management company?
The median Net Margin % among Asset Management companies is 84.90, based on 1,576 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. WAM Research's current Net Margin % of 84.87% is 0% 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on WAM Research and its competitors. For the Asset Management industry, the median Net Margin % is 84.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WAM Research's current Net Margin % is 84.87%, which is 25% above median its own 10-year median of 68.05. 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 Net Margin % is 84.87%, which is 25% above median its 10-year median of 68.05 and 0% below the Asset Management industry median of 84.90. 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 Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For WAM Research (ASX:WAX), the current Net Margin % is 84.87% 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:
Net Margin %: 84.87% (25% above median its 10-year median of 68.05)
GF Value™: A$0.01 vs. price of A$1.03 (10150% above fair value)
Industry Position: 0% below the Asset Management median (#1550 of 1576)
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.
39GF Score
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