Bulgarian Real Estate Fund REIT (XBUL:BREF) Net Margin %: 53.16% (As of Mar. 2026) — 10% Below Median


XBUL:BREF Bulgarian Real Estate Fund REIT XBUL:BREF
71 GF Score
Price €2.74
GF Value €15.70
Valuation Possible Value Trap
! 5 Warning Signs
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What is Bulgarian Real Estate Fund REIT Net Margin %?

Bulgarian Real Estate Fund REIT XBUL:BREF -1.44% 71 Net Margin % is 53.16% as of Mar. 2026, which is 10% below its 10-year median of 59.05. GuruFocus rates XBUL:BREF with a GF Score™ of 71/100 and a GF Value™ of €15.70 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 928 REITs companies, Bulgarian Real Estate Fund REIT ranks better than 54.42% on this metric.

Net margin is calculated as Net Income divided by its Revenue. Bulgarian Real Estate Fund REIT's Net Income for the three months ended in Mar. 2026 was €0.94 Mil. Bulgarian Real Estate Fund REIT's Revenue for the three months ended in Mar. 2026 was €1.77 Mil. Therefore, Bulgarian Real Estate Fund REIT's net margin for the quarter that ended in Mar. 2026 was 53.16%.

The historical rank and industry rank for Bulgarian Real Estate Fund REIT's Net Margin % or its related term are showing as below:

XBUL:BREF' s Net Margin % Range Over the Past 10 Years
Min: 38.48   Med: 59.05   Max: 190.6
Current: 50.43


XBUL:BREF's Net Margin % is ranked better than
54.42% of 928 companies
in the REITs industry
Industry Median: 44.95 vs XBUL:BREF: 50.43

Bulgarian Real Estate Fund REIT  (XBUL:BREF) 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.


Bulgarian Real Estate Fund REIT Net Margin % Related Terms


Bulgarian Real Estate Fund REIT Net Margin % Historical Data

* Premium members only.

The historical data trend for Bulgarian Real Estate Fund REIT'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.

Bulgarian Real Estate Fund REIT Net Margin % Chart

Bulgarian Real Estate Fund REIT Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec22 Dec23 Dec24 Dec25
Net Margin %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 38.48 54.96 190.60 186.16 50.32

Bulgarian Real Estate Fund REIT Quarterly Data
Mar21 Jun21 Sep21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
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 Premium Member Only Premium Member Only 51.72 55.44 56.20 49.25 53.16

XBUL:BREF vs VICI, WPC: Net Margin % Comparison

For the REIT - Diversified subindustry, Bulgarian Real Estate Fund REIT'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.


Bulgarian Real Estate Fund REIT Net Margin % vs REITs Industry

For the REITs industry and Real Estate sector, Bulgarian Real Estate Fund REIT's Net Margin % distribution charts can be found below:

* The bar in red indicates where Bulgarian Real Estate Fund REIT's Net Margin % falls into.


XBUL:BREF
71GF Score
Bulgarian Real Estate Fund REIT XBUL:BREF
Net Margin % is just one metric. See GF Score™, valuation, warning signs, and more.
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Bulgarian Real Estate Fund REIT 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.

Bulgarian Real Estate Fund REIT's Net Margin for the fiscal year that ended in Dec. 2025 is calculated as

Net Margin=Net Income (A: Dec. 2025 )/Revenue (A: Dec. 2025 )
=12.44/24.722
=50.32 %

Bulgarian Real Estate Fund REIT's Net Margin for the quarter that ended in Mar. 2026 is calculated as

Net Margin=Net Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=0.943/1.774
=53.16 %

* 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 53.16% mean?
Bulgarian Real Estate Fund REIT (XBUL:BREF) has a Net Margin % of 53.16% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Bulgarian Real Estate Fund REIT and its competitors. This is 10% below median its historical median of 59.05. Over the past decade, Bulgarian Real Estate Fund REIT's Net Margin % has ranged from 38.48 to 190.60. According to the industry distribution chart, Bulgarian Real Estate Fund REIT ranks #423 out of 928 companies in the REITs industry, placing it in the top 45.6%.
Is Bulgarian Real Estate Fund REIT's Net Margin % too high?
Bulgarian Real Estate Fund REIT's current Net Margin % of 53.16% is 10% below median its 10-year median of 59.05. Over the past 10 years, this metric has ranged from a low of 38.48 to a high of 190.60. The REITs industry median Net Margin % is 44.95. Bulgarian Real Estate Fund REIT's value of 53.16% is 18.3% above this industry median. Based on the distribution chart, Bulgarian Real Estate Fund REIT ranks #423 out of 928 companies in the REITs industry, which is above the industry midpoint. Overall, Bulgarian Real Estate Fund REIT has a GF Score™ of 71/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Bulgarian Real Estate Fund REIT's Net Margin % compare to VICI and WPC?
According to the REITs industry distribution chart, Bulgarian Real Estate Fund REIT ranks #423 out of 928 companies for Net Margin %. This puts Bulgarian Real Estate Fund REIT in the upper half of its industry. The industry median Net Margin % is 44.95. Bulgarian Real Estate Fund REIT's value of 53.16% is 18.3% above this benchmark. Historically, Bulgarian Real Estate Fund REIT's own Net Margin % has ranged from 38.48 to 190.60 over the past decade. While the company's 10-year median is 59.05 vs. the industry median of 44.95, Bulgarian Real Estate Fund REIT 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 a REITs company?
The median Net Margin % among REITs companies is 44.95, based on 928 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. Bulgarian Real Estate Fund REIT's current Net Margin % of 53.16% is 18.3% 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 Bulgarian Real Estate Fund REIT and its competitors. For the REITs industry, the median Net Margin % is 44.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bulgarian Real Estate Fund REIT's current Net Margin % is 53.16%, which is 10% below median its own 10-year median of 59.05. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bulgarian Real Estate Fund REIT stock overvalued right now?
Based on GuruFocus' analysis, Bulgarian Real Estate Fund REIT (XBUL:BREF) is currently considered Possible Value Trap. The stock's GF Value™ is €15.70, compared to a current price of €2.74 — trading 82.5% below its estimated fair value. The current Net Margin % is 53.16%, which is 10% below median its 10-year median of 59.05 and 18.3% above the REITs industry median of 44.95. Bulgarian Real Estate Fund REIT's overall GF Score™ is 71/100 with 5 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 Bulgarian Real Estate Fund REIT (XBUL:BREF), the current Net Margin % is 53.16% as of Mar. 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 Bulgarian Real Estate Fund REIT (XBUL:BREF) Overvalued in 2026?

Based on GuruFocus' analysis, Bulgarian Real Estate Fund REIT stock appears to be undervalued. The current stock price of €2.74 is trading 82.5% below its estimated GF Value™ of €15.70. GuruFocus considers Bulgarian Real Estate Fund REIT to be Possible Value Trap.

Key valuation signals for XBUL:BREF:

  • Net Margin %: 53.16% (10% below median its 10-year median of 59.05)
  • GF Value™: €15.70 vs. price of €2.74 (82.5% below fair value)
  • GF Score™: 71/100 with 5 warning signs
  • Industry Position: 18.3% above the REITs median (#423 of 928)

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


Bulgarian Real Estate Fund REIT Business Description

Industry Real EstateREITs
Address 111 R Tsarigradsko shose Boulevard, Floor 16, Sofia, BGR, 1784
Bulgarian Real Estate Fund REIT is a special investment purpose joint-stock entity seated in the Republic of Bulgaria. The main activity of the fund is investing the cash funds raised through securities issuance in real property /securitization of real property/ through the purchase of ownership rights and other real rights over real property, carrying out construction and improvements therein for the purpose of making it available for management, renting, leasing and/or sale. Its investment objective is to achieve capital appreciation by means of diversified investments in business buildings, residential and other high-class properties, retail premises and agricultural land on the territory of Bulgaria.
71GF Score

Get the complete analysis for XBUL:BREF

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

€2.74
Price
€15.70
GF Value