STEW (SRH Total Return Fund,) Net Margin %: 99.11% (As of Nov. 2025) — Near Median


STEW SRH Total Return Fund, Inc. STEW
57 GF Score
Price $17.79
GF Value $20.85
Valuation Modestly Undervalued
! 4 Warning Signs
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What is SRH Total Return Fund, Net Margin %?

SRH Total Return Fund, STEW -0.17% 57 Net Margin % is 99.11% as of Nov. 2025, which is 1% above its 10-year median of 98.20. GuruFocus rates STEW with a GF Score™ of 57/100 and a GF Value™ of $20.85 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,580 Asset Management companies, SRH Total Return Fund, ranks better than 72.22% on this metric.

Net margin is calculated as Net Income divided by its Revenue. SRH Total Return Fund,'s Net Income for the six months ended in Nov. 2025 was $183.9 Mil. SRH Total Return Fund,'s Revenue for the six months ended in Nov. 2025 was $185.6 Mil. Therefore, SRH Total Return Fund,'s net margin for the quarter that ended in Nov. 2025 was 99.11%.

The historical rank and industry rank for SRH Total Return Fund,'s Net Margin % or its related term are showing as below:

STEW' s Net Margin % Range Over the Past 10 Years
Min: 96.11   Med: 98.2   Max: 199.24
Current: 98.2


STEW's Net Margin % is ranked better than
72.22% of 1580 companies
in the Asset Management industry
Industry Median: 84.895 vs STEW: 98.20

SRH Total Return Fund,  (NYSE:STEW) 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.


SRH Total Return Fund, Net Margin % Related Terms


SRH Total Return Fund, Net Margin % Historical Data

* Premium members only.

The historical data trend for SRH Total Return Fund,'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.

SRH Total Return Fund, Net Margin % Chart

SRH Total Return Fund, Annual Data
Trend Nov17 Nov18 Nov19 Nov20 Nov21 Nov22 Nov23 Nov24 Nov25
Net Margin %
Get a 7-Day Free Trial Premium Member Only 99.17 96.11 98.14 99.47 98.20

SRH Total Return Fund, Semi-Annual Data
May16 Nov17 May18 Nov18 May19 Nov19 May20 Nov20 May21 Nov21 May22 Nov22 May23 Nov23 May24 Nov24 May25 Nov25
Net Margin % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 99.23 99.36 99.55 118.49 99.11

STEW vs BCAT, BDJ, TSLX: Net Margin % Comparison

For the Asset Management subindustry, SRH Total Return Fund,'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.


SRH Total Return Fund, Net Margin % vs Asset Management Industry

For the Asset Management industry and Financial Services sector, SRH Total Return Fund,'s Net Margin % distribution charts can be found below:

* The bar in red indicates where SRH Total Return Fund,'s Net Margin % falls into.


STEW
57GF Score
SRH Total Return Fund, Inc. STEW
Net Margin % is just one metric. See GF Score™, valuation, warning signs, and more.
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SRH Total Return Fund, Net Margin % Calculation

Net margin - also known as net profit margin is the ratio of Net Income divided by net sales or Revenue, usually presented in percent.

SRH Total Return Fund,'s Net Margin for the fiscal year that ended in Nov. 2025 is calculated as

Net Margin=Net Income (A: Nov. 2025 )/Revenue (A: Nov. 2025 )
=174.09/177.279
=98.20 %

SRH Total Return Fund,'s Net Margin for the quarter that ended in Nov. 2025 is calculated as

Net Margin=Net Income (Q: Nov. 2025 )/Revenue (Q: Nov. 2025 )
=183.932/185.585
=99.11 %

* 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.

Frequently Asked Questions Learn more about Net Margin % →
What does a Net Margin % of 99.11% mean?
SRH Total Return Fund, (STEW) has a Net Margin % of 99.11% as of Nov. 2025. Net margin is the ratio of total net income to net sales. View historical data on SRH Total Return Fund, and its competitors. This is near median its historical median of 98.20. Over the past decade, SRH Total Return Fund,'s Net Margin % has ranged from 96.11 to 199.24. According to the industry distribution chart, SRH Total Return Fund, ranks #439 out of 1580 companies in the Asset Management industry, placing it in the top 27.8%.
Is SRH Total Return Fund,'s Net Margin % too high?
SRH Total Return Fund,'s current Net Margin % of 99.11% is near median its 10-year median of 98.20. Over the past 10 years, this metric has ranged from a low of 96.11 to a high of 199.24. The Asset Management industry median Net Margin % is 84.90. SRH Total Return Fund,'s value of 99.11% is 16.7% above this industry median. Based on the distribution chart, SRH Total Return Fund, ranks #439 out of 1580 companies in the Asset Management industry, which is above the industry midpoint. Overall, SRH Total Return Fund, has a GF Score™ of 57/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does SRH Total Return Fund,'s Net Margin % compare to BCAT and BDJ?
According to the Asset Management industry distribution chart, SRH Total Return Fund, ranks #439 out of 1580 companies for Net Margin %. This puts SRH Total Return Fund, in the upper half of its industry. The industry median Net Margin % is 84.90. SRH Total Return Fund,'s value of 99.11% is 16.7% above this benchmark. Historically, SRH Total Return Fund,'s own Net Margin % has ranged from 96.11 to 199.24 over the past decade. While the company's 10-year median is 98.20 vs. the industry median of 84.90, SRH Total Return Fund, 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 Net Margin % for an Asset Management company?
The median Net Margin % among Asset Management companies is 84.90, based on 1,580 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. SRH Total Return Fund,'s current Net Margin % of 99.11% is 16.7% 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 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 SRH Total Return Fund, 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. SRH Total Return Fund,'s current Net Margin % is 99.11%, which is near median its own 10-year median of 98.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SRH Total Return Fund, stock overvalued right now?
Based on GuruFocus' analysis, SRH Total Return Fund, (STEW) is currently considered Modestly Undervalued. The stock's GF Value™ is $20.85, compared to a current price of $17.79 — trading 14.7% below its estimated fair value. The current Net Margin % is 99.11%, which is near median its 10-year median of 98.20 and 16.7% above the Asset Management industry median of 84.90. SRH Total Return Fund,'s overall GF Score™ is 57/100 with 4 warning signs 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 SRH Total Return Fund, (STEW), the current Net Margin % is 99.11% as of Nov. 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 SRH Total Return Fund, (STEW) Overvalued in 2026?

Based on GuruFocus' analysis, SRH Total Return Fund, stock appears to be undervalued. The current stock price of $17.79 is trading 14.7% below its estimated GF Value™ of $20.85. GuruFocus considers SRH Total Return Fund, to be Modestly Undervalued.

Key valuation signals for STEW:

  • Net Margin %: 99.11% (near median its 10-year median of 98.20)
  • GF Value™: $20.85 vs. price of $17.79 (14.7% below fair value)
  • GF Score™: 57/100 with 4 warning signs
  • Industry Position: 16.7% above the Asset Management median (#439 of 1580)

No single metric tells the full story. See the STEW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


SRH Total Return Fund, Business Description

Address 1700 Broadway, Suite 2100, Denver, CO, USA, 80290
SRH Total Return Fund, Inc. is a non-diversified closed-end management investment company. The company's investment objective is to seek total returns. Its fund utilizes a bottom-up, value-driven investment process to identify securities of good quality businesses trading below estimated intrinsic value. The Funds are available as an actively-managed closed-end fund, an actively managed ETF and a passively-managed ETF.
57GF Score

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Net Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

$17.79
Price
$20.85
GF Value