AcerinoxHAM:ACE1 -1.65%75 Pretax Margin % is 1.95% as of Mar. 2026, which is 66% below its 10-year median of 5.79. GuruFocus rates HAM:ACE1 with a GF Score™ of 75/100 and a GF Value™ of €10.29. The stock has 8 warning signs investors should review. Among 615 Steel companies, Acerinox ranks worse than 53.5% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. Acerinox's Pre-Tax Income for the
three
months ended in Mar. 2026 was €27 Mil. Acerinox's Revenue for the
three
months ended in Mar. 2026 was €1,384 Mil. Therefore, Acerinox's pretax margin for the quarter that ended in Mar. 2026 was 1.95%.
The historical rank and industry rank for Acerinox's Pretax Margin % or its related term are showing as below:
HAM:ACE1'
s Pretax Margin % Range Over the Past 10 Years
Min: 0.49 Med: 5.79 Max: 11.42
Current: 2.17
HAM:ACE1's Pretax Margin % is ranked worse than 53.5% of 615
companies
in the Steel industry
Industry Median: 2.56
vs HAM:ACE1: 2.17
Acerinox (HAM:ACE1) 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.
Acerinox Pretax Margin % Related Terms
Acerinox Pretax Margin % Historical Data
* Premium members only.
The historical data trend for Acerinox'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.
HAM:ACE1 vs NUE, STLD, RS: Pretax Margin % Comparison
For the Steel subindustry, Acerinox'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.
Acerinox Pretax Margin % vs Steel Industry
For the Steel industry and Basic Materials sector, Acerinox's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Acerinox'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.
Acerinox (HAM:ACE1) has a Pretax Margin % of 1.95% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Acerinox and its competitors. This is 66% below median its historical median of 5.79. Over the past decade, Acerinox's Pretax Margin % has ranged from 0.49 to 11.42. According to the industry distribution chart, Acerinox ranks #329 out of 615 companies in the Steel industry, placing it in the top 53.5%.
Is Acerinox's Pretax Margin % too high?
Acerinox's current Pretax Margin % of 1.95% is 66% below median its 10-year median of 5.79. Over the past 10 years, this metric has ranged from a low of 0.49 to a high of 11.42. The Steel industry median Pretax Margin % is 2.56. Acerinox's value of 1.95% is 23.8% below this industry median. Based on the distribution chart, Acerinox ranks #329 out of 615 companies in the Steel industry, which is below the industry midpoint. Overall, Acerinox has a GF Score™ of 75/100, reflecting its overall financial health beyond just this single metric.
How does Acerinox's Pretax Margin % compare to NUE and STLD?
According to the Steel industry distribution chart, Acerinox ranks #329 out of 615 companies for Pretax Margin %. This places Acerinox in the lower half of its industry. The industry median Pretax Margin % is 2.56. Acerinox's value of 1.95% is 23.8% below this benchmark. Historically, Acerinox's own Pretax Margin % has ranged from 0.49 to 11.42 over the past decade. While the company's 10-year median is 5.79 vs. the industry median of 2.56, Acerinox 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 Steel company?
The median Pretax Margin % among Steel companies is 2.56, based on 615 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. Acerinox's current Pretax Margin % of 1.95% is 23.8% 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 Acerinox and its competitors. For the Steel industry, the median Pretax Margin % is 2.56 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Acerinox's current Pretax Margin % is 1.95%, which is 66% below median its own 10-year median of 5.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Acerinox stock overvalued right now?
Acerinox (HAM:ACE1) has a current Pretax Margin % of 1.95%. The stock's GF Value™ is €10.29, compared to a current price of €15.50 — trading 50.6% above its estimated fair value. The current Pretax Margin % is 1.95%, which is 66% below median its 10-year median of 5.79 and 23.8% below the Steel industry median of 2.56. Acerinox's overall GF Score™ is 75/100 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 Acerinox (HAM:ACE1), the current Pretax Margin % is 1.95% 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 Acerinox (HAM:ACE1) Overvalued in 2026?
Based on GuruFocus' analysis, Acerinox stock appears to be overvalued.
The current stock price of €15.50 is trading 50.6% above its estimated GF Value™ of €10.29.
Key valuation signals for HAM:ACE1:
Pretax Margin %: 1.95% (66% below median its 10-year median of 5.79)
GF Value™: €10.29 vs. price of €15.50 (50.6% above fair value)
Industry Position: 23.8% below the Steel median (#329 of 615)
No single metric tells the full story. See the HAM:ACE1 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Acerinox SA is a Spain-based stainless steel maker engaged in the manufacture, processing, and marketing of stainless steel products and special alloys. The company operates in two segments; the Stainless steel segment which accounts for the majority of the company's revenue, includes both flat and long stainless steel products, and the High-performance alloys segment includes special alloys with high nickel content. This segment includes all the companies in the VDM Metals subgroup. Geographically, the company operates in Spain, the Rest of Europe, America, Africa, Asia, and Others.
75GF Score
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