QualitasASX:QAL -2.27%62 Pretax Margin % is 48.84% as of Dec. 2025, which is 37% above its 10-year median of 35.60. GuruFocus rates ASX:QAL with a GF Score™ of 62/100 and a GF Value™ of A$3.18 (Fairly Valued). The stock has 2 warning signs investors should review. Among 1,576 Asset Management companies, Qualitas ranks worse than 66.94% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. Qualitas's Pre-Tax Income for the
six
months ended in Dec. 2025 was A$29.7 Mil. Qualitas's Revenue for the
six
months ended in Dec. 2025 was A$60.8 Mil. Therefore, Qualitas's pretax margin for the quarter that ended in Dec. 2025 was 48.84%.
The historical rank and industry rank for Qualitas's Pretax Margin % or its related term are showing as below:
ASX:QAL'
s Pretax Margin % Range Over the Past 10 Years
Min: 29.9 Med: 35.6 Max: 43.49
Current: 43.49
ASX:QAL's Pretax Margin % is ranked worse than 66.94% of 1576
companies
in the Asset Management industry
Industry Median: 89.475
vs ASX:QAL: 43.49
Qualitas (ASX:QAL) Pretax Margin % Explanation
The pretax margin, as know as pretax profit margin, is widely used to measure the operating efficiency of a company before deducting taxes.
The pretax margin is sometimes preferred over the net margin as tax expenditures can make profitability comparisons between companies misleading.
It is a useful tool to compare companies operating in the same sector and less effective when comparing companies from other sectors as each industry generally has different operating expenses and sales patterns.
The long term trend of the pretax margin is a good indicator of the competitiveness and health of the business.
Qualitas Pretax Margin % Related Terms
Qualitas Pretax Margin % Historical Data
* Premium members only.
The historical data trend for Qualitas's Pretax 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.
ASX:QAL vs BLK, BX, KKR: Pretax Margin % Comparison
For the Asset Management subindustry, Qualitas's Pretax Margin %, along with its competitors' market caps and Pretax 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.
Qualitas Pretax Margin % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Qualitas's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Qualitas's Pretax 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.
Qualitas (ASX:QAL) has a Pretax Margin % of 48.84% as of Dec. 2025. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Qualitas and its competitors. This is 37% above median its historical median of 35.60. Over the past decade, Qualitas' Pretax Margin % has ranged from 29.90 to 43.49. According to the industry distribution chart, Qualitas ranks #1055 out of 1576 companies in the Asset Management industry, placing it in the top 66.9%.
Is Qualitas' Pretax Margin % too high?
Qualitas' current Pretax Margin % of 48.84% is 37% above median its 10-year median of 35.60. Over the past 10 years, this metric has ranged from a low of 29.90 to a high of 43.49. The Asset Management industry median Pretax Margin % is 89.48. Qualitas' value of 48.84% is 45.4% below this industry median. Based on the distribution chart, Qualitas ranks #1055 out of 1576 companies in the Asset Management industry, which is below the industry midpoint. Overall, Qualitas has a GF Score™ of 62/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Qualitas' Pretax Margin % compare to BLK and BX?
According to the Asset Management industry distribution chart, Qualitas ranks #1055 out of 1576 companies for Pretax Margin %. This places Qualitas in the lower half of its industry. The industry median Pretax Margin % is 89.48. Qualitas' value of 48.84% is 45.4% below this benchmark. Historically, Qualitas' own Pretax Margin % has ranged from 29.90 to 43.49 over the past decade. While the company's 10-year median is 35.60 vs. the industry median of 89.48, Qualitas 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 Pretax Margin % for an Asset Management company?
The median Pretax Margin % among Asset Management companies is 89.48, based on 1,576 companies in the industry. Companies in the top quartile (top 25%) have a Pretax Margin % significantly above this median, while those in the bottom quartile fall well below. However, Pretax Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Qualitas's current Pretax Margin % of 48.84% is 45.4% 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 Pretax Margin % mean?
A high Pretax Margin % can signal that a stock is expensive relative to its fundamentals. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Qualitas and its competitors. For the Asset Management industry, the median Pretax Margin % is 89.48 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Qualitas's current Pretax Margin % is 48.84%, which is 37% above median its own 10-year median of 35.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Qualitas stock overvalued right now?
Based on GuruFocus' analysis, Qualitas (ASX:QAL) is currently considered Fairly Valued. The stock's GF Value™ is A$3.18, compared to a current price of A$3.01 — trading 5.3% below its estimated fair value. The current Pretax Margin % is 48.84%, which is 37% above median its 10-year median of 35.60 and 45.4% below the Asset Management industry median of 89.48. Qualitas' overall GF Score™ is 62/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Qualitas (ASX:QAL), the current Pretax Margin % is 48.84% 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 Qualitas (ASX:QAL) Overvalued in 2026?
Based on GuruFocus' analysis, Qualitas stock appears to be undervalued.
The current stock price of A$3.01 is trading 5.3% below its estimated GF Value™ of A$3.18.
GuruFocus considers Qualitas to be Fairly Valued.
Key valuation signals for ASX:QAL:
Pretax Margin %: 48.84% (37% above median its 10-year median of 35.60)
GF Value™: A$3.18 vs. price of A$3.01 (5.3% below fair value)
Industry Position: 45.4% below the Asset Management median (#1055 of 1576)
No single metric tells the full story. See the ASX:QAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Qualitas Ltd is an alternative real estate investment manager focused on private credit and equity across commercial real estate sectors. The Group has identified two operating segments Funds Management and Direct Lending. Maximum revenue is generated from its Funds Management segment which includes all of its core Funds management activities and includes Funds management fees, performance fees, and other fee income. It also includes dividends and distributions from Qualitas' Investment and Direct Lending activities. The Direct Lending segment relates to the interest income and expenses relating to activities undertaken by the company's subsidiaries.
62GF Score
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