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China Tourism Group Duty FreeSHSE:601888 -1.66%81 Pretax Margin % is 16.54% as of Mar. 2026, which is 25% above its 10-year median of 13.18. GuruFocus rates SHSE:601888 with a GF Score™ of 81/100 and a GF Value™ of ¥68.42 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 1,131 Retail - Cyclical companies, China Tourism Group Duty Free ranks better than 79.58% on this metric.
The historical rank and industry rank for China Tourism Group Duty Free's Pretax Margin % or its related term are showing as below:
SHSE:601888'
s Pretax Margin % Range Over the Past 10 Years
Min: 9.88 Med: 13.18 Max: 21.87
Current: 10.37
SHSE:601888's Pretax Margin % is ranked better than 79.58% of 1131
companies
in the Retail - Cyclical industry
Industry Median: 3.28
vs SHSE:601888: 10.37
China Tourism Group Duty Free (SHSE:601888) 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.
China Tourism Group Duty Free Pretax Margin % Related Terms
China Tourism Group Duty Free 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.
China Tourism Group Duty Free Pretax Margin % Chart
SHSE:601888 vs CASY, WSM, ULTA: Pretax Margin % Comparison
For the Specialty Retail subindustry, China Tourism Group Duty Free'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.
China Tourism Group Duty Free Pretax Margin % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, China Tourism Group Duty Free's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where China Tourism Group Duty Free'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.
China Tourism Group Duty Free (SHSE:601888) has a Pretax Margin % of 16.54% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on China Tourism Group Duty Free and its competitors. This is 25% above median its historical median of 13.18. Over the past decade, China Tourism Group Duty Free's Pretax Margin % has ranged from 9.88 to 21.87. According to the industry distribution chart, China Tourism Group Duty Free ranks #231 out of 1131 companies in the Retail - Cyclical industry, placing it in the top 20.4%.
Is China Tourism Group Duty Free's Pretax Margin % too high?
China Tourism Group Duty Free's current Pretax Margin % of 16.54% is 25% above median its 10-year median of 13.18. Over the past 10 years, this metric has ranged from a low of 9.88 to a high of 21.87. The Retail - Cyclical industry median Pretax Margin % is 3.28. China Tourism Group Duty Free's value of 16.54% is 404.3% above this industry median. Based on the distribution chart, China Tourism Group Duty Free ranks #231 out of 1131 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. Overall, China Tourism Group Duty Free has a GF Score™ of 81/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Tourism Group Duty Free's Pretax Margin % compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, China Tourism Group Duty Free ranks #231 out of 1131 companies for Pretax Margin %. This places China Tourism Group Duty Free in the top 20% of its industry — outperforming the majority of peers. The industry median Pretax Margin % is 3.28. China Tourism Group Duty Free's value of 16.54% is 404.3% above this benchmark. Historically, China Tourism Group Duty Free's own Pretax Margin % has ranged from 9.88 to 21.87 over the past decade. While the company's 10-year median is 13.18 vs. the industry median of 3.28, China Tourism Group Duty Free 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 3.28, based on 1,131 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. China Tourism Group Duty Free's current Pretax Margin % of 16.54% is 404.3% 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 China Tourism Group Duty Free and its competitors. For the Retail - Cyclical industry, the median Pretax Margin % is 3.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Tourism Group Duty Free's current Pretax Margin % is 16.54%, which is 25% above median its own 10-year median of 13.18. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Tourism Group Duty Free stock overvalued right now?
Based on GuruFocus' analysis, China Tourism Group Duty Free (SHSE:601888) is currently considered Modestly Undervalued. The stock's GF Value™ is ¥68.42, compared to a current price of ¥54.06 — trading 21% below its estimated fair value. The current Pretax Margin % is 16.54%, which is 25% above median its 10-year median of 13.18 and 404.3% above the Retail - Cyclical industry median of 3.28. China Tourism Group Duty Free's overall GF Score™ is 81/100 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 China Tourism Group Duty Free (SHSE:601888), the current Pretax Margin % is 16.54% 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 China Tourism Group Duty Free (SHSE:601888) Overvalued in 2026?
Based on GuruFocus' analysis, China Tourism Group Duty Free stock appears to be undervalued.
The current stock price of ¥54.06 is trading 21% below its estimated GF Value™ of ¥68.42.
GuruFocus considers China Tourism Group Duty Free to be Modestly Undervalued.
Key valuation signals for SHSE:601888:
Pretax Margin %: 16.54% (25% above median its 10-year median of 13.18)
GF Value™: ¥68.42 vs. price of ¥54.06 (21% below fair value)
Industry Position: 404.3% above the Retail - Cyclical median (#231 of 1131)
No single metric tells the full story. See the SHSE:601888 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Established in 1984, China Tourism Group Duty Free is China's largest and the world's second-largest travel retailer in 2025 with revenue of CNY 54 billion. The company primarily operates duty-free stores at airports, border crossings, offshore, downtown, and on flights, cruises and ships, with about 200 stores spanning over 33 provinces in China, as well as overseas. The company also operates a duty-paid business. Its 2025 revenue mix was 73% duty-free sales and 27% duty-paid sales and others. CTG Duty Free is 50% owned by China Tourism Group, a state-owned enterprise that falls directly under the State-owned Assets Supervision and Administration Commission of the State Council.
81GF Score
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