Circle SpAMIL:CIRC -2.49%83 Pretax Margin % is 13.17% as of Dec. 2025, which is 11% below its 10-year median of 14.75. GuruFocus rates MIL:CIRC with a GF Score™ of 83/100 and a GF Value™ of €12.24 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 2,823 Software companies, Circle SpA ranks better than 74.42% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. Circle SpA's Pre-Tax Income for the
six
months ended in Dec. 2025 was €1.58 Mil. Circle SpA's Revenue for the
six
months ended in Dec. 2025 was €12.01 Mil. Therefore, Circle SpA's pretax margin for the quarter that ended in Dec. 2025 was 13.17%.
The historical rank and industry rank for Circle SpA's Pretax Margin % or its related term are showing as below:
MIL:CIRC'
s Pretax Margin % Range Over the Past 10 Years
Min: 0.5 Med: 14.75 Max: 22.35
Current: 12.2
MIL:CIRC's Pretax Margin % is ranked better than 74.42% of 2823
companies
in the Software industry
Industry Median: 3.51
vs MIL:CIRC: 12.20
Circle SpA (MIL:CIRC) 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.
Circle SpA Pretax Margin % Related Terms
Circle SpA Pretax Margin % Historical Data
* Premium members only.
The historical data trend for Circle SpA'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.
MIL:CIRC vs IBM, ACN, FISV: Pretax Margin % Comparison
For the Information Technology Services subindustry, Circle SpA'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.
Circle SpA Pretax Margin % vs Software Industry
For the Software industry and Technology sector, Circle SpA's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Circle SpA'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.
Circle SpA (MIL:CIRC) has a Pretax Margin % of 13.17% as of Dec. 2025. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Circle SpA and its competitors. This is 11% below median its historical median of 14.75. Over the past decade, Circle SpA's Pretax Margin % has ranged from 0.50 to 22.35. According to the industry distribution chart, Circle SpA ranks #722 out of 2823 companies in the Software industry, placing it in the top 25.6%.
Is Circle SpA's Pretax Margin % too high?
Circle SpA's current Pretax Margin % of 13.17% is 11% below median its 10-year median of 14.75. Over the past 10 years, this metric has ranged from a low of 0.50 to a high of 22.35. The Software industry median Pretax Margin % is 3.51. Circle SpA's value of 13.17% is 275.2% above this industry median. Based on the distribution chart, Circle SpA ranks #722 out of 2823 companies in the Software industry, which is above the industry midpoint. Overall, Circle SpA has a GF Score™ of 83/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Circle SpA's Pretax Margin % compare to IBM and ACN?
According to the Software industry distribution chart, Circle SpA ranks #722 out of 2823 companies for Pretax Margin %. This puts Circle SpA in the upper half of its industry. The industry median Pretax Margin % is 3.51. Circle SpA's value of 13.17% is 275.2% above this benchmark. Historically, Circle SpA's own Pretax Margin % has ranged from 0.50 to 22.35 over the past decade. While the company's 10-year median is 14.75 vs. the industry median of 3.51, Circle SpA 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 Software company?
The median Pretax Margin % among Software companies is 3.51, based on 2,823 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. Circle SpA's current Pretax Margin % of 13.17% is 275.2% 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 Circle SpA and its competitors. For the Software industry, the median Pretax Margin % is 3.51 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Circle SpA's current Pretax Margin % is 13.17%, which is 11% below median its own 10-year median of 14.75. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Circle SpA stock overvalued right now?
Based on GuruFocus' analysis, Circle SpA (MIL:CIRC) is currently considered Modestly Overvalued. The stock's GF Value™ is €12.24, compared to a current price of €13.70 — trading 11.9% above its estimated fair value. The current Pretax Margin % is 13.17%, which is 11% below median its 10-year median of 14.75 and 275.2% above the Software industry median of 3.51. Circle SpA's overall GF Score™ is 83/100 with 7 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 Circle SpA (MIL:CIRC), the current Pretax Margin % is 13.17% 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 Circle SpA (MIL:CIRC) Overvalued in 2026?
Based on GuruFocus' analysis, Circle SpA stock appears to be overvalued.
The current stock price of €13.70 is trading 11.9% above its estimated GF Value™ of €12.24.
GuruFocus considers Circle SpA to be Modestly Overvalued.
Key valuation signals for MIL:CIRC:
Pretax Margin %: 13.17% (11% below median its 10-year median of 14.75)
GF Value™: €12.24 vs. price of €13.70 (11.9% above fair value)
Industry Position: 275.2% above the Software median (#722 of 2823)
No single metric tells the full story. See the MIL:CIRC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Circle SpA is engaged in providing consulting services, technological solutions, and digital marketing services to companies operating predominantly in the logistics and transportation sectors. It provides strategic consulting services in the fields of port management, logistics, and transport, and also develops software solutions to optimize flow management and improve logistics processes. The company's service offerings in the digital marketing sector include; services for the analysis, identification, and use of multi-channel communication tools for the implementation of digital marketing strategies.
83GF Score
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