Primaris REITPMREF 83 Pretax Margin % is 23.58% as of Mar. 2026, which is 11% below its 10-year median of 26.40. GuruFocus rates PMREF with a GF Score™ of 83/100 and a GF Value™ of $13.25 (Fairly Valued). The stock has 8 warning signs investors should review. Among 927 REITs companies, Primaris REIT ranks worse than 66.99% on this metric.
Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. Primaris REIT's Pre-Tax Income for the
three
months ended in Mar. 2026 was $30.6 Mil. Primaris REIT's Revenue for the
three
months ended in Mar. 2026 was $129.6 Mil. Therefore, Primaris REIT's pretax margin for the quarter that ended in Mar. 2026 was 23.58%.
The historical rank and industry rank for Primaris REIT's Pretax Margin % or its related term are showing as below:
PMREF'
s Pretax Margin % Range Over the Past 10 Years
Min: -210.11 Med: 26.4 Max: 136.19
Current: 28.54
PMREF's Pretax Margin % is ranked worse than 66.99% of 927
companies
in the REITs industry
Industry Median: 46.93
vs PMREF: 28.54
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.
Primaris REIT Pretax Margin % Related Terms
Primaris REIT Pretax Margin % Historical Data
* Premium members only.
The historical data trend for Primaris REIT'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.
For the REIT - Retail subindustry, Primaris REIT'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.
Primaris REIT Pretax Margin % vs REITs Industry
For the REITs industry and Real Estate sector, Primaris REIT's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where Primaris REIT'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.
Primaris REIT (PMREF) has a Pretax Margin % of 23.58% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Primaris REIT and its competitors. This is 11% below median its historical median of 26.40. According to the industry distribution chart, Primaris REIT ranks #621 out of 927 companies in the REITs industry, placing it in the top 67%.
Is Primaris REIT's Pretax Margin % too high?
Primaris REIT's current Pretax Margin % of 23.58% is 11% below median its 10-year median of 26.40. The REITs industry median Pretax Margin % is 46.93. Primaris REIT's value of 23.58% is 49.8% below this industry median. Based on the distribution chart, Primaris REIT ranks #621 out of 927 companies in the REITs industry, which is below the industry midpoint. Overall, Primaris REIT has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Primaris REIT's Pretax Margin % compare to SPG and O?
According to the REITs industry distribution chart, Primaris REIT ranks #621 out of 927 companies for Pretax Margin %. This places Primaris REIT in the lower half of its industry. The industry median Pretax Margin % is 46.93. Primaris REIT's value of 23.58% is 49.8% below this benchmark. While the company's 10-year median is 26.40 vs. the industry median of 46.93, Primaris REIT 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 REITs company?
The median Pretax Margin % among REITs companies is 46.93, based on 927 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. Primaris REIT's current Pretax Margin % of 23.58% is 49.8% 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 Primaris REIT and its competitors. For the REITs industry, the median Pretax Margin % is 46.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Primaris REIT's current Pretax Margin % is 23.58%, which is 11% below median its own 10-year median of 26.40. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Primaris REIT stock overvalued right now?
Based on GuruFocus' analysis, Primaris REIT (PMREF) is currently considered Fairly Valued. The stock's GF Value™ is $13.25, compared to a current price of $14.30 — trading 7.9% above its estimated fair value. The current Pretax Margin % is 23.58%, which is 11% below median its 10-year median of 26.40 and 49.8% below the REITs industry median of 46.93. Primaris REIT's overall GF Score™ is 83/100 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 Primaris REIT (PMREF), the current Pretax Margin % is 23.58% 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 Primaris REIT (PMREF) Overvalued in 2026?
Based on GuruFocus' analysis, Primaris REIT stock appears to be overvalued.
The current stock price of $14.30 is trading 7.9% above its estimated GF Value™ of $13.25.
GuruFocus considers Primaris REIT to be Fairly Valued.
Key valuation signals for PMREF:
Pretax Margin %: 23.58% (11% below median its 10-year median of 26.40)
GF Value™: $13.25 vs. price of $14.30 (7.9% above fair value)
Industry Position: 49.8% below the REITs median (#621 of 927)
No single metric tells the full story. See the PMREF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Primaris REIT is an unincorporated, open-ended real estate investment trust. Through its subsidiaries, it owns, develops, and operates a national retail portfolio focused on enclosed shopping centres located in secondary Canadian markets. Its property portfolio includes: Dufferin Mall, Cataraqui Centre, Stone Road Mall, Orchard Park, Kildonan Place, Halifax Shopping Centre, Marlborough Mall, and Devonshire Mall. The company generates a majority of its revenue from the Rent receivables.
83GF Score
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