WAM MicrocapASX:WMI -1.75%57 Pretax Margin % is 93.77% as of Dec. 2025, which is 1% above its 10-year median of 92.96. GuruFocus rates ASX:WMI with a GF Score™ of 57/100 and a GF Value™ of A$1.59 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 1,572 Asset Management companies, WAM Microcap ranks better than 52.93% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. WAM Microcap's Pre-Tax Income for the
six
months ended in Dec. 2025 was A$43.23 Mil. WAM Microcap's Revenue for the
six
months ended in Dec. 2025 was A$46.10 Mil. Therefore, WAM Microcap's pretax margin for the quarter that ended in Dec. 2025 was 93.77%.
The historical rank and industry rank for WAM Microcap's Pretax Margin % or its related term are showing as below:
ASX:WMI'
s Pretax Margin % Range Over the Past 10 Years
Min: 79.3 Med: 92.96 Max: 107.86
Current: 92.44
ASX:WMI's Pretax Margin % is ranked better than 52.93% of 1572
companies
in the Asset Management industry
Industry Median: 89.62
vs ASX:WMI: 92.44
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 Microcap Pretax Margin % Related Terms
WAM Microcap Pretax Margin % Historical Data
* Premium members only.
The historical data trend for WAM Microcap'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:WMI vs BLK, BX, KKR: Pretax Margin % Comparison
For the Asset Management subindustry, WAM Microcap'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 Microcap Pretax Margin % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, WAM Microcap's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where WAM Microcap'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 Microcap (ASX:WMI) has a Pretax Margin % of 93.77% as of Dec. 2025. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on WAM Microcap and its competitors. This is near median its historical median of 92.96. Over the past decade, WAM Microcap's Pretax Margin % has ranged from 79.30 to 107.86. According to the industry distribution chart, WAM Microcap ranks #740 out of 1572 companies in the Asset Management industry, placing it in the top 47.1%.
Is WAM Microcap's Pretax Margin % too high?
WAM Microcap's current Pretax Margin % of 93.77% is near median its 10-year median of 92.96. Over the past 10 years, this metric has ranged from a low of 79.30 to a high of 107.86. The Asset Management industry median Pretax Margin % is 89.62. WAM Microcap's value of 93.77% is 4.6% above this industry median. Based on the distribution chart, WAM Microcap ranks #740 out of 1572 companies in the Asset Management industry, which is above the industry midpoint. Overall, WAM Microcap has a GF Score™ of 57/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does WAM Microcap's Pretax Margin % compare to BLK and BX?
According to the Asset Management industry distribution chart, WAM Microcap ranks #740 out of 1572 companies for Pretax Margin %. This puts WAM Microcap in the upper half of its industry. The industry median Pretax Margin % is 89.62. WAM Microcap's value of 93.77% is 4.6% above this benchmark. Historically, WAM Microcap's own Pretax Margin % has ranged from 79.30 to 107.86 over the past decade. While the company's 10-year median is 92.96 vs. the industry median of 89.62, WAM Microcap 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 Pretax Margin % for an Asset Management company?
The median Pretax Margin % among Asset Management companies is 89.62, 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 Microcap's current Pretax Margin % of 93.77% is 4.6% 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 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 Microcap and its competitors. For the Asset Management industry, the median Pretax Margin % is 89.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. WAM Microcap's current Pretax Margin % is 93.77%, which is near median its own 10-year median of 92.96. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is WAM Microcap stock overvalued right now?
Based on GuruFocus' analysis, WAM Microcap (ASX:WMI) is currently considered Modestly Undervalued. The stock's GF Value™ is A$1.59, compared to a current price of A$1.40 — trading 11.9% below its estimated fair value. The current Pretax Margin % is 93.77%, which is near median its 10-year median of 92.96 and 4.6% above the Asset Management industry median of 89.62. WAM Microcap's overall GF Score™ is 57/100 with 1 warning sign 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 Microcap (ASX:WMI), the current Pretax Margin % is 93.77% 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 Microcap (ASX:WMI) Overvalued in 2026?
Based on GuruFocus' analysis, WAM Microcap stock appears to be undervalued.
The current stock price of A$1.40 is trading 11.9% below its estimated GF Value™ of A$1.59.
GuruFocus considers WAM Microcap to be Modestly Undervalued.
Key valuation signals for ASX:WMI:
Pretax Margin %: 93.77% (near median its 10-year median of 92.96)
GF Value™: A$1.59 vs. price of A$1.40 (11.9% below fair value)
Industry Position: 4.6% above the Asset Management median (#740 of 1572)
No single metric tells the full story. See the ASX:WMI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
WAM Microcap Ltd is an investment company based in Australia. Its investment objectives are to deliver a stream of fully franked dividends, provide capital growth in the medium-to-long term, and preserve capital. The company is engaged in making investments in listed companies, and provides investors access to a portfolio of undervalued micro-cap growth companies with a market capitalisation of less than 300 million dollars at the time of acquisition. WAM Microcap also provides exposure to relative value arbitrage and market mispricing opportunities.
57GF Score
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