Virtus Convertible &ome FundNCV -0.17%41 Pretax Margin % is 99.56% as of Jan. 2026, which is 0% above its 10-year median of 99.28. GuruFocus rates NCV with a GF Score™ of 41/100 and a GF Value™ of $55.59 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 1,572 Asset Management companies, Virtus Convertible &ome Fund ranks better than 78.88% on this metric.
The historical rank and industry rank for Virtus Convertible &ome Fund's Pretax Margin % or its related term are showing as below:
NCV'
s Pretax Margin % Range Over the Past 10 Years
Min: 94.63 Med: 99.28 Max: 120.87
Current: 99.39
NCV's Pretax Margin % is ranked better than 78.88% of 1572
companies
in the Asset Management industry
Industry Median: 89.62
vs NCV: 99.39
Virtus Convertible &ome Fund (NYSE:NCV) 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.
Virtus Convertible &ome Fund Pretax Margin % Related Terms
Virtus Convertible &ome Fund Pretax Margin % Historical Data
* 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.
Virtus Convertible &ome Fund Pretax Margin % Chart
For the Asset Management subindustry, Virtus Convertible &ome Fund'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.
Virtus Convertible &ome Fund Pretax Margin % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Virtus Convertible &ome Fund's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Virtus Convertible &ome Fund'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.
Virtus Convertible &ome Fund (NCV) has a Pretax Margin % of 99.56% as of Jan. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Virtus Convertible &ome Fund and its competitors. This is near median its historical median of 99.28. Over the past decade, Virtus Convertible &ome Fund's Pretax Margin % has ranged from 94.63 to 120.87. According to the industry distribution chart, Virtus Convertible &ome Fund ranks #332 out of 1572 companies in the Asset Management industry, placing it in the top 21.1%.
Is Virtus Convertible &ome Fund's Pretax Margin % too high?
Virtus Convertible &ome Fund's current Pretax Margin % of 99.56% is near median its 10-year median of 99.28. Over the past 10 years, this metric has ranged from a low of 94.63 to a high of 120.87. The Asset Management industry median Pretax Margin % is 89.62. Virtus Convertible &ome Fund's value of 99.56% is 11.1% above this industry median. Based on the distribution chart, Virtus Convertible &ome Fund ranks #332 out of 1572 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Virtus Convertible &ome Fund has a GF Score™ of 41/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Virtus Convertible &ome Fund's Pretax Margin % compare to FRA and BGR?
According to the Asset Management industry distribution chart, Virtus Convertible &ome Fund ranks #332 out of 1572 companies for Pretax Margin %. This places Virtus Convertible &ome Fund in the top 21% of its industry — outperforming the majority of peers. The industry median Pretax Margin % is 89.62. Virtus Convertible &ome Fund's value of 99.56% is 11.1% above this benchmark. Historically, Virtus Convertible &ome Fund's own Pretax Margin % has ranged from 94.63 to 120.87 over the past decade. While the company's 10-year median is 99.28 vs. the industry median of 89.62, Virtus Convertible &ome Fund 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 Asset Management company?
The median Pretax Margin % among Asset Management companies is 89.62, based on 1,572 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. Virtus Convertible &ome Fund's current Pretax Margin % of 99.56% is 11.1% 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 Virtus Convertible &ome Fund and its competitors. For the Asset Management industry, the median Pretax Margin % is 89.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Virtus Convertible &ome Fund's current Pretax Margin % is 99.56%, which is near median its own 10-year median of 99.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Virtus Convertible &ome Fund stock overvalued right now?
Based on GuruFocus' analysis, Virtus Convertible &ome Fund (NCV) is currently considered Significantly Undervalued. The stock's GF Value™ is $55.59, compared to a current price of $17.28 — trading 68.9% below its estimated fair value. The current Pretax Margin % is 99.56%, which is near median its 10-year median of 99.28 and 11.1% above the Asset Management industry median of 89.62. Virtus Convertible &ome Fund's overall GF Score™ is 41/100 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 Virtus Convertible &ome Fund (NCV), the current Pretax Margin % is 99.56% as of Jan. 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 Virtus Convertible &ome Fund (NCV) Overvalued in 2026?
Based on GuruFocus' analysis, Virtus Convertible &ome Fund stock appears to be undervalued.
The current stock price of $17.28 is trading 68.9% below its estimated GF Value™ of $55.59.
GuruFocus considers Virtus Convertible &ome Fund to be Significantly Undervalued.
Key valuation signals for NCV:
Pretax Margin %: 99.56% (near median its 10-year median of 99.28)
GF Value™: $55.59 vs. price of $17.28 (68.9% below fair value)
Industry Position: 11.1% above the Asset Management median (#332 of 1572)
No single metric tells the full story. See the NCV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Virtus Convertible & Income Fund is a diversified, closed-end management investment company. Its investment objective is to provide total return through a combination of current income, current gains and long-term capital appreciation. It intends to achieve the objective by investing in a portfolio of domestic convertible securities and non-convertible income-producing securities. Its portfolio of investments includes Software, the Internet, the Commercial Services sector in the form of Convertible Bonds and Notes, and Media, Oil, Gas & Consumable Fuels, and Entertainment sector in the form of Corporate Bonds and Notes.
41GF Score
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