Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
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.
Hoshino Resorts REIT Pretax Margin % Related Terms
Hoshino Resorts REIT Pretax Margin % Historical Data
* Premium members only.
The historical data trend for Hoshino Resorts REIT'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:A3F vs HST, RHP, APLE: Pretax Margin % Comparison
For the REIT - Hotel & Motel subindustry, Hoshino Resorts REIT'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.
Hoshino Resorts REIT Pretax Margin % vs REITs Industry
For the REITs industry and Real Estate sector, Hoshino Resorts REIT's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Hoshino Resorts REIT'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.
Hoshino Resorts REIT (FRA:A3F) has a Pretax Margin % of 42.79% as of Apr. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Hoshino Resorts REIT and its competitors. This is near median its historical median of 41.22. Over the past decade, Hoshino Resorts REIT's Pretax Margin % has ranged from 30.52 to 48.31. According to the industry distribution chart, Hoshino Resorts REIT ranks #515 out of 923 companies in the REITs industry, placing it in the top 55.8%.
Is Hoshino Resorts REIT's Pretax Margin % too high?
Hoshino Resorts REIT's current Pretax Margin % of 42.79% is near median its 10-year median of 41.22. Over the past 10 years, this metric has ranged from a low of 30.52 to a high of 48.31. The REITs industry median Pretax Margin % is 47.33. Hoshino Resorts REIT's value of 42.79% is 9.6% below this industry median. Based on the distribution chart, Hoshino Resorts REIT ranks #515 out of 923 companies in the REITs industry, which is below the industry midpoint. Overall, Hoshino Resorts REIT has a GF Score™ of 71/100, reflecting its overall financial health beyond just this single metric.
How does Hoshino Resorts REIT's Pretax Margin % compare to HST and RHP?
According to the REITs industry distribution chart, Hoshino Resorts REIT ranks #515 out of 923 companies for Pretax Margin %. This places Hoshino Resorts REIT in the lower half of its industry. The industry median Pretax Margin % is 47.33. Hoshino Resorts REIT's value of 42.79% is 9.6% below this benchmark. Historically, Hoshino Resorts REIT's own Pretax Margin % has ranged from 30.52 to 48.31 over the past decade. While the company's 10-year median is 41.22 vs. the industry median of 47.33, Hoshino Resorts REIT 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 a REITs company?
The median Pretax Margin % among REITs companies is 47.33, based on 923 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. Hoshino Resorts REIT's current Pretax Margin % of 42.79% is 9.6% 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 Hoshino Resorts REIT and its competitors. For the REITs industry, the median Pretax Margin % is 47.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hoshino Resorts REIT's current Pretax Margin % is 42.79%, which is near median its own 10-year median of 41.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hoshino Resorts REIT stock overvalued right now?
Hoshino Resorts REIT (FRA:A3F) has a current Pretax Margin % of 42.79%. The stock's GF Value™ is €1,646.09, compared to a current price of €1,300.00 — trading 21% below its estimated fair value. The current Pretax Margin % is 42.79%, which is near median its 10-year median of 41.22 and 9.6% below the REITs industry median of 47.33. Hoshino Resorts 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 Pretax Margin % calculated?
Pretax Margin % is calculated from a company's financial statements. For Hoshino Resorts REIT (FRA:A3F), the current Pretax Margin % is 42.79% as of Apr. 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 Hoshino Resorts REIT (FRA:A3F) Overvalued in 2026?
Based on GuruFocus' analysis, Hoshino Resorts REIT stock appears to be undervalued.
The current stock price of €1,300.00 is trading 21% below its estimated GF Value™ of €1,646.09.
Key valuation signals for FRA:A3F:
Pretax Margin %: 42.79% (near median its 10-year median of 41.22)
GF Value™: €1,646.09 vs. price of €1,300.00 (21% below fair value)
Industry Position: 9.6% below the REITs median (#515 of 923)
No single metric tells the full story. See the FRA:A3F stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hoshino Resorts REIT Inc is a closed-end real estate investment trust company. It aims to achieve stable earnings and sustainable growth of its investment assets, by investing in hotels, Japanese-Style Inns, and related facilities.
71GF Score
Get the complete analysis for FRA:A3F
Pretax Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:A3F has been successfully added to your 
