WAM CapitalASX:WAM 33 Pretax Margin % is 75.34% as of Dec. 2025, which is 19% below its 10-year median of 93.43. GuruFocus rates ASX:WAM with a GF Score™ of 33/100 and a GF Value™ of A$0.74 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 1,572 Asset Management companies, WAM Capital ranks worse than 53.44% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. WAM Capital's Pre-Tax Income for the
six
months ended in Dec. 2025 was A$30.2 Mil. WAM Capital's Revenue for the
six
months ended in Dec. 2025 was A$40.1 Mil. Therefore, WAM Capital's pretax margin for the quarter that ended in Dec. 2025 was 75.34%.
The historical rank and industry rank for WAM Capital's Pretax Margin % or its related term are showing as below:
ASX:WAM'
s Pretax Margin % Range Over the Past 10 Years
Min: 28.77 Med: 93.43 Max: 142.61
Current: 86.13
ASX:WAM's Pretax Margin % is ranked worse than 53.44% of 1572
companies
in the Asset Management industry
Industry Median: 89.735
vs ASX:WAM: 86.13
WAM Capital (ASX:WAM) 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.
WAM Capital Pretax Margin % Related Terms
WAM Capital Pretax Margin % Historical Data
* Premium members only.
The historical data trend for WAM Capital'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:WAM vs BLK, BX, KKR: Pretax Margin % Comparison
For the Asset Management subindustry, WAM Capital'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.
WAM Capital Pretax Margin % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, WAM Capital's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where WAM Capital'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.
WAM Capital (ASX:WAM) has a Pretax Margin % of 75.34% as of Dec. 2025. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on WAM Capital and its competitors. This is 19% below median its historical median of 93.43. Over the past decade, WAM Capital's Pretax Margin % has ranged from 28.77 to 142.61. According to the industry distribution chart, WAM Capital ranks #840 out of 1572 companies in the Asset Management industry, placing it in the top 53.4%.
Is WAM Capital's Pretax Margin % too high?
WAM Capital's current Pretax Margin % of 75.34% is 19% below median its 10-year median of 93.43. Over the past 10 years, this metric has ranged from a low of 28.77 to a high of 142.61. The Asset Management industry median Pretax Margin % is 89.74. WAM Capital's value of 75.34% is 16% below this industry median. Based on the distribution chart, WAM Capital ranks #840 out of 1572 companies in the Asset Management industry, which is below the industry midpoint. Overall, WAM Capital has a GF Score™ of 33/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does WAM Capital's Pretax Margin % compare to BLK and BX?
According to the Asset Management industry distribution chart, WAM Capital ranks #840 out of 1572 companies for Pretax Margin %. This places WAM Capital in the lower half of its industry. The industry median Pretax Margin % is 89.74. WAM Capital's value of 75.34% is 16% below this benchmark. Historically, WAM Capital's own Pretax Margin % has ranged from 28.77 to 142.61 over the past decade. While the company's 10-year median is 93.43 vs. the industry median of 89.74, WAM Capital 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 89.74, based on 1,572 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. WAM Capital's current Pretax Margin % of 75.34% is 16% 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 WAM Capital and its competitors. For the Asset Management industry, the median Pretax Margin % is 89.74 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WAM Capital's current Pretax Margin % is 75.34%, which is 19% below median its own 10-year median of 93.43. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WAM Capital stock overvalued right now?
Based on GuruFocus' analysis, WAM Capital (ASX:WAM) is currently considered Significantly Overvalued. The stock's GF Value™ is A$0.74, compared to a current price of A$1.55 — trading 109.5% above its estimated fair value. The current Pretax Margin % is 75.34%, which is 19% below median its 10-year median of 93.43 and 16% below the Asset Management industry median of 89.74. WAM Capital's overall GF Score™ is 33/100 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 WAM Capital (ASX:WAM), the current Pretax Margin % is 75.34% 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 Capital (ASX:WAM) Overvalued in 2026?
Based on GuruFocus' analysis, WAM Capital stock appears to be overvalued.
The current stock price of A$1.55 is trading 109.5% above its estimated GF Value™ of A$0.74.
GuruFocus considers WAM Capital to be Significantly Overvalued.
Key valuation signals for ASX:WAM:
Pretax Margin %: 75.34% (19% below median its 10-year median of 93.43)
GF Value™: A$0.74 vs. price of A$1.55 (109.5% above fair value)
Industry Position: 16% below the Asset Management median (#840 of 1572)
No single metric tells the full story. See the ASX:WAM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
WAM Capital Ltd is a closed-end investment fund, which engages in investing activities, including cash, term deposits, and equity investments. It provides exposure to relative value arbitrage and market mispricing opportunities and manages a diversified portfolio of undervalued growth companies. Its investment objective is to deliver a stream of fully franked dividends, provide capital growth and preserve capital.
33GF Score
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