NICO HoldingsMSW:NICO -0.26%57 Pretax Margin % is 53.51% as of Dec. 2025, which is 185% above its 10-year median of 18.79. GuruFocus rates MSW:NICO with a GF Score™ of 57/100 and a GF Value™ of MWK728.99 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 501 Insurance companies, NICO Holdings ranks better than 94.21% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. NICO Holdings's Pre-Tax Income for the
six
months ended in Dec. 2025 was MWK471,388 Mil. NICO Holdings's Revenue for the
six
months ended in Dec. 2025 was MWK880,854 Mil. Therefore, NICO Holdings's pretax margin for the quarter that ended in Dec. 2025 was 53.51%.
The historical rank and industry rank for NICO Holdings's Pretax Margin % or its related term are showing as below:
MSW:NICO'
s Pretax Margin % Range Over the Past 10 Years
Min: 12.86 Med: 18.79 Max: 53.52
Current: 53.52
MSW:NICO's Pretax Margin % is ranked better than 94.21% of 501
companies
in the Insurance industry
Industry Median: 12.04
vs MSW:NICO: 53.52
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.
NICO Holdings Pretax Margin % Related Terms
NICO Holdings Pretax Margin % Historical Data
* Premium members only.
The historical data trend for NICO 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.
NICO Holdings Pretax Margin % Chart
NICO Holdings Annual Data
Trend
Dec20
Dec21
Dec22
Dec24
Dec25
Pretax Margin %
15.87
12.86
18.79
40.13
53.51
NICO Holdings Semi-Annual Data
Dec20
Dec21
Dec22
Dec24
Dec25
Pretax Margin %
15.87
12.86
18.79
40.13
53.51
MSW:NICO vs BRK.A, AIG, HIG: Pretax Margin % Comparison
For the Insurance - Diversified subindustry, NICO 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.
NICO Holdings Pretax Margin % vs Insurance Industry
For the Insurance industry and Financial Services sector, NICO Holdings's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where NICO 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.
NICO Holdings (MSW:NICO) has a Pretax Margin % of 53.51% as of Dec. 2025. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on NICO Holdings and its competitors. This is 185% above median its historical median of 18.79. Over the past decade, NICO Holdings' Pretax Margin % has ranged from 12.86 to 53.52. According to the industry distribution chart, NICO Holdings ranks #29 out of 501 companies in the Insurance industry, placing it in the top 5.8%.
Is NICO Holdings' Pretax Margin % too high?
NICO Holdings' current Pretax Margin % of 53.51% is 185% above median its 10-year median of 18.79. Over the past 10 years, this metric has ranged from a low of 12.86 to a high of 53.52. The Insurance industry median Pretax Margin % is 12.04. NICO Holdings' value of 53.51% is 344.4% above this industry median. Based on the distribution chart, NICO Holdings ranks #29 out of 501 companies in the Insurance industry, which is in the top quartile — a strong position relative to peers. Overall, NICO Holdings has a GF Score™ of 57/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NICO Holdings' Pretax Margin % compare to BRK.A and AIG?
According to the Insurance industry distribution chart, NICO Holdings ranks #29 out of 501 companies for Pretax Margin %. This places NICO Holdings in the top 6% of its industry — outperforming the majority of peers. The industry median Pretax Margin % is 12.04. NICO Holdings' value of 53.51% is 344.4% above this benchmark. Historically, NICO Holdings' own Pretax Margin % has ranged from 12.86 to 53.52 over the past decade. While the company's 10-year median is 18.79 vs. the industry median of 12.04, NICO 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 an Insurance company?
The median Pretax Margin % among Insurance companies is 12.04, based on 501 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. NICO Holdings's current Pretax Margin % of 53.51% is 344.4% 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 NICO Holdings and its competitors. For the Insurance industry, the median Pretax Margin % is 12.04 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NICO Holdings's current Pretax Margin % is 53.51%, which is 185% above median its own 10-year median of 18.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NICO Holdings stock overvalued right now?
Based on GuruFocus' analysis, NICO Holdings (MSW:NICO) is currently considered Significantly Overvalued. The stock's GF Value™ is MWK728.99, compared to a current price of MWK1,593.97 — trading 118.7% above its estimated fair value. The current Pretax Margin % is 53.51%, which is 185% above median its 10-year median of 18.79 and 344.4% above the Insurance industry median of 12.04. NICO Holdings' overall GF Score™ is 57/100 with 2 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 NICO Holdings (MSW:NICO), the current Pretax Margin % is 53.51% 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 NICO Holdings (MSW:NICO) Overvalued in 2026?
Based on GuruFocus' analysis, NICO Holdings stock appears to be overvalued.
The current stock price of MWK1,593.97 is trading 118.7% above its estimated GF Value™ of MWK728.99.
GuruFocus considers NICO Holdings to be Significantly Overvalued.
Key valuation signals for MSW:NICO:
Pretax Margin %: 53.51% (185% above median its 10-year median of 18.79)
GF Value™: MWK728.99 vs. price of MWK1,593.97 (118.7% above fair value)
Industry Position: 344.4% above the Insurance median (#29 of 501)
No single metric tells the full story. See the MSW:NICO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NICO Holdings PLC is a Malawi-based financial service company that operates in diversified business. Its segments include Life Insurance and Pension, General Insurance business, Banking business, Investment Holding, Asset Management, and Information Technology. Its general insurance segment offers personal and commercial insurance covering motor vehicle, building, road construction, liability, engineering, professional indemnity, marine hull & cargo, fire, and personal accidents throughout Malawi, Zambia, Tanzania, and Uganda. In contrast, life insurance and pension products including Endowment Assurance are offered in Malawi and Mozambique. The majority of the revenue is earned from the Insurance sector. while its Asset Management and Banking segments only operate in Malawi.
57GF Score
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