Japan Exchange GroupFRA:OSK -1.82%87 Pretax Margin % is 59.56% as of Mar. 2026, which is 7% above its 10-year median of 55.66. GuruFocus rates FRA:OSK with a GF Score™ of 87/100 and a GF Value™ of €9.66 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 774 Capital Markets companies, Japan Exchange Group ranks better than 83.2% on this metric.
The historical rank and industry rank for Japan Exchange Group's Pretax Margin % or its related term are showing as below:
FRA:OSK'
s Pretax Margin % Range Over the Past 10 Years
Min: 50.71 Med: 55.66 Max: 60.33
Current: 58.74
FRA:OSK's Pretax Margin % is ranked better than 83.2% of 774
companies
in the Capital Markets industry
Industry Median: 20.32
vs FRA:OSK: 58.74
Japan Exchange Group (FRA:OSK) 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.
Japan Exchange Group Pretax Margin % Related Terms
Japan Exchange Group Pretax Margin % Historical Data
* Premium members only.
The historical data trend for Japan Exchange Group'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:OSK vs SPGI, CME, ICE: Pretax Margin % Comparison
For the Financial Data & Stock Exchanges subindustry, Japan Exchange Group'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.
Japan Exchange Group Pretax Margin % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Japan Exchange Group's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Japan Exchange Group'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.
Japan Exchange Group (FRA:OSK) has a Pretax Margin % of 59.56% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Japan Exchange Group and its competitors. This is near median its historical median of 55.66. Over the past decade, Japan Exchange Group's Pretax Margin % has ranged from 50.71 to 60.33. According to the industry distribution chart, Japan Exchange Group ranks #130 out of 774 companies in the Capital Markets industry, placing it in the top 16.8%.
Is Japan Exchange Group's Pretax Margin % too high?
Japan Exchange Group's current Pretax Margin % of 59.56% is near median its 10-year median of 55.66. Over the past 10 years, this metric has ranged from a low of 50.71 to a high of 60.33. The Capital Markets industry median Pretax Margin % is 20.32. Japan Exchange Group's value of 59.56% is 193.1% above this industry median. Based on the distribution chart, Japan Exchange Group ranks #130 out of 774 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Japan Exchange Group has a GF Score™ of 87/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Japan Exchange Group's Pretax Margin % compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Japan Exchange Group ranks #130 out of 774 companies for Pretax Margin %. This places Japan Exchange Group in the top 17% of its industry — outperforming the majority of peers. The industry median Pretax Margin % is 20.32. Japan Exchange Group's value of 59.56% is 193.1% above this benchmark. Historically, Japan Exchange Group's own Pretax Margin % has ranged from 50.71 to 60.33 over the past decade. While the company's 10-year median is 55.66 vs. the industry median of 20.32, Japan Exchange Group 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 Capital Markets company?
The median Pretax Margin % among Capital Markets companies is 20.32, based on 774 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. Japan Exchange Group's current Pretax Margin % of 59.56% is 193.1% 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 Japan Exchange Group and its competitors. For the Capital Markets industry, the median Pretax Margin % is 20.32 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Japan Exchange Group's current Pretax Margin % is 59.56%, which is near median its own 10-year median of 55.66. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Japan Exchange Group stock overvalued right now?
Based on GuruFocus' analysis, Japan Exchange Group (FRA:OSK) is currently considered Modestly Overvalued. The stock's GF Value™ is €9.66, compared to a current price of €10.80 — trading 11.8% above its estimated fair value. The current Pretax Margin % is 59.56%, which is near median its 10-year median of 55.66 and 193.1% above the Capital Markets industry median of 20.32. Japan Exchange Group's overall GF Score™ is 87/100 with 8 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 Japan Exchange Group (FRA:OSK), the current Pretax Margin % is 59.56% as of Mar. 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 Japan Exchange Group (FRA:OSK) Overvalued in 2026?
Based on GuruFocus' analysis, Japan Exchange Group stock appears to be overvalued.
The current stock price of €10.80 is trading 11.8% above its estimated GF Value™ of €9.66.
GuruFocus considers Japan Exchange Group to be Modestly Overvalued.
Key valuation signals for FRA:OSK:
Pretax Margin %: 59.56% (near median its 10-year median of 55.66)
GF Value™: €9.66 vs. price of €10.80 (11.8% above fair value)
Industry Position: 193.1% above the Capital Markets median (#130 of 774)
No single metric tells the full story. See the FRA:OSK stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Japan Exchange Group is a vertically integrated securities exchange business, which includes the Tokyo Stock Exchange, Osaka Exchange, and Tokyo Commodity Exchange. JPX ranks among the top five largest stock exchange operators in the world by market capitalization, and its Nikkei 225 and Topix derivatives products are some of the most widely traded derivatives products in the world.
87GF Score
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