Harvey Norman HoldingsHNORF 54 Pretax Margin % is 21.59% as of Dec. 2025, which is 12% above its 10-year median of 19.24. GuruFocus rates HNORF with a GF Score™ of 54/100 and a GF Value™ of $3.07 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 1,128 Retail - Cyclical companies, Harvey Norman Holdings ranks better than 92.46% on this metric.
The historical rank and industry rank for Harvey Norman Holdings's Pretax Margin % or its related term are showing as below:
HNORF'
s Pretax Margin % Range Over the Past 10 Years
Min: 13.81 Med: 19.24 Max: 28.51
Current: 18.87
HNORF's Pretax Margin % is ranked better than 92.46% of 1128
companies
in the Retail - Cyclical industry
Industry Median: 3.135
vs HNORF: 18.87
Harvey Norman Holdings (OTCPK:HNORF) 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.
Harvey Norman Holdings Pretax Margin % Related Terms
Harvey Norman Holdings Pretax Margin % Historical Data
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The historical data trend for Harvey Norman Holdings'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.
HNORF vs CASY, WSM, ULTA: Pretax Margin % Comparison
For the Specialty Retail subindustry, Harvey Norman Holdings'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.
Harvey Norman Holdings Pretax Margin % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Harvey Norman Holdings's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Harvey Norman Holdings'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.
Harvey Norman Holdings (HNORF) has a Pretax Margin % of 21.59% as of Dec. 2025. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Harvey Norman Holdings and its competitors. This is 12% above median its historical median of 19.24. Over the past decade, Harvey Norman Holdings' Pretax Margin % has ranged from 13.81 to 28.51. According to the industry distribution chart, Harvey Norman Holdings ranks #85 out of 1128 companies in the Retail - Cyclical industry, placing it in the top 7.5%.
Is Harvey Norman Holdings' Pretax Margin % too high?
Harvey Norman Holdings' current Pretax Margin % of 21.59% is 12% above median its 10-year median of 19.24. Over the past 10 years, this metric has ranged from a low of 13.81 to a high of 28.51. The Retail - Cyclical industry median Pretax Margin % is 3.14. Harvey Norman Holdings' value of 21.59% is 588.7% above this industry median. Based on the distribution chart, Harvey Norman Holdings ranks #85 out of 1128 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. Overall, Harvey Norman Holdings has a GF Score™ of 54/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Harvey Norman Holdings' Pretax Margin % compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, Harvey Norman Holdings ranks #85 out of 1128 companies for Pretax Margin %. This places Harvey Norman Holdings in the top 8% of its industry — outperforming the majority of peers. The industry median Pretax Margin % is 3.14. Harvey Norman Holdings' value of 21.59% is 588.7% above this benchmark. Historically, Harvey Norman Holdings' own Pretax Margin % has ranged from 13.81 to 28.51 over the past decade. While the company's 10-year median is 19.24 vs. the industry median of 3.14, Harvey Norman Holdings 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 Retail - Cyclical company?
The median Pretax Margin % among Retail - Cyclical companies is 3.14, based on 1,128 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. Harvey Norman Holdings's current Pretax Margin % of 21.59% is 588.7% 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 Harvey Norman Holdings and its competitors. For the Retail - Cyclical industry, the median Pretax Margin % is 3.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Harvey Norman Holdings's current Pretax Margin % is 21.59%, which is 12% above median its own 10-year median of 19.24. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Harvey Norman Holdings stock overvalued right now?
Based on GuruFocus' analysis, Harvey Norman Holdings (HNORF) is currently considered Modestly Overvalued. The stock's GF Value™ is $3.07, compared to a current price of $3.72 — trading 21.2% above its estimated fair value. The current Pretax Margin % is 21.59%, which is 12% above median its 10-year median of 19.24 and 588.7% above the Retail - Cyclical industry median of 3.14. Harvey Norman Holdings' overall GF Score™ is 54/100 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 Harvey Norman Holdings (HNORF), the current Pretax Margin % is 21.59% 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 Harvey Norman Holdings (HNORF) Overvalued in 2026?
Based on GuruFocus' analysis, Harvey Norman Holdings stock appears to be overvalued.
The current stock price of $3.72 is trading 21.2% above its estimated GF Value™ of $3.07.
GuruFocus considers Harvey Norman Holdings to be Modestly Overvalued.
Key valuation signals for HNORF:
Pretax Margin %: 21.59% (12% above median its 10-year median of 19.24)
GF Value™: $3.07 vs. price of $3.72 (21.2% above fair value)
Industry Position: 588.7% above the Retail - Cyclical median (#85 of 1128)
No single metric tells the full story. See the HNORF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Harvey Norman Holdings Limited is the franchisor of Harvey Norman, a leading Australia-based retailer that sells goods from the electrical, computer, furniture, entertainment, and bedding sectors. The majority of earnings are generated in Australia, with the international divisions gradually growing in significance.
54GF Score
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Pretax Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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