Sands ChinaFRA:599 +2.99%88 Pretax Margin % is 12.35% as of Dec. 2025, which is 6% below its 10-year median of 13.19. GuruFocus rates FRA:599 with a GF Score™ of 88/100 and a GF Value™ of €23.68. The stock has 4 warning signs investors should review. Among 844 Travel & Leisure companies, Sands China ranks better than 66.23% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. Sands China's Pre-Tax Income for the
six
months ended in Dec. 2025 was €417 Mil. Sands China's Revenue for the
six
months ended in Dec. 2025 was €3,374 Mil. Therefore, Sands China's pretax margin for the quarter that ended in Dec. 2025 was 12.35%.
The historical rank and industry rank for Sands China's Pretax Margin % or its related term are showing as below:
FRA:599'
s Pretax Margin % Range Over the Past 10 Years
Min: -98.94 Med: 13.19 Max: 23.08
Current: 12.1
FRA:599's Pretax Margin % is ranked better than 66.23% of 844
companies
in the Travel & Leisure industry
Industry Median: 6.22
vs FRA:599: 12.10
Sands China (FRA:599) 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.
Sands China Pretax Margin % Related Terms
Sands China Pretax Margin % Historical Data
* Premium members only.
The historical data trend for Sands China'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.
FRA:599 vs LVS, MGM, WYNN: Pretax Margin % Comparison
For the Resorts & Casinos subindustry, Sands China'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.
Sands China Pretax Margin % vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Sands China's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Sands China'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.
Sands China (FRA:599) has a Pretax Margin % of 12.35% as of Dec. 2025. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Sands China and its competitors. This is near median its historical median of 13.19. According to the industry distribution chart, Sands China ranks #285 out of 844 companies in the Travel & Leisure industry, placing it in the top 33.8%.
Is Sands China's Pretax Margin % too high?
Sands China's current Pretax Margin % of 12.35% is near median its 10-year median of 13.19. The Travel & Leisure industry median Pretax Margin % is 6.22. Sands China's value of 12.35% is 98.6% above this industry median. Based on the distribution chart, Sands China ranks #285 out of 844 companies in the Travel & Leisure industry, which is above the industry midpoint. Overall, Sands China has a GF Score™ of 88/100, reflecting its overall financial health beyond just this single metric.
How does Sands China's Pretax Margin % compare to LVS and MGM?
According to the Travel & Leisure industry distribution chart, Sands China ranks #285 out of 844 companies for Pretax Margin %. This puts Sands China in the upper half of its industry. The industry median Pretax Margin % is 6.22. Sands China's value of 12.35% is 98.6% above this benchmark. While the company's 10-year median is 13.19 vs. the industry median of 6.22, Sands China 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 a Travel & Leisure company?
The median Pretax Margin % among Travel & Leisure companies is 6.22, based on 844 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. Sands China's current Pretax Margin % of 12.35% is 98.6% 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 Sands China and its competitors. For the Travel & Leisure industry, the median Pretax Margin % is 6.22 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Sands China's current Pretax Margin % is 12.35%, which is near median its own 10-year median of 13.19. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Sands China stock overvalued right now?
Sands China (FRA:599) has a current Pretax Margin % of 12.35%. The stock's GF Value™ is €23.68, compared to a current price of €13.80 — trading 41.7% below its estimated fair value. The current Pretax Margin % is 12.35%, which is near median its 10-year median of 13.19 and 98.6% above the Travel & Leisure industry median of 6.22. Sands China's overall GF Score™ is 88/100 with 4 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 Sands China (FRA:599), the current Pretax Margin % is 12.35% 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 Sands China (FRA:599) Overvalued in 2026?
Based on GuruFocus' analysis, Sands China stock appears to be undervalued.
The current stock price of €13.80 is trading 41.7% below its estimated GF Value™ of €23.68.
Key valuation signals for FRA:599:
Pretax Margin %: 12.35% (near median its 10-year median of 13.19)
GF Value™: €23.68 vs. price of €13.80 (41.7% below fair value)
Industry Position: 98.6% above the Travel & Leisure median (#285 of 844)
No single metric tells the full story. See the FRA:599 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Sands China operates integrated resorts and casinos in Macao. Its properties include Sands Macao, the Venetian Macao, the Plaza Macao, the Londoner, and the Parisian Macao. It has about 23.5% market share in the Macao gaming sector in terms of gross gaming revenue as of 2025. Las Vegas Sands has a 74.8% stake in Sands China.
88GF Score
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