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China Bills FinanceTPE:2820 62 Pretax Margin % is 65.40% as of Dec. 2025, which is 15% below its 10-year median of 77.16. GuruFocus rates TPE:2820 with a GF Score™ of 62/100 and a GF Value™ of NT$24.43 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 776 Capital Markets companies, China Bills Finance ranks better than 89.3% on this metric.
The historical rank and industry rank for China Bills Finance's Pretax Margin % or its related term are showing as below:
TPE:2820'
s Pretax Margin % Range Over the Past 10 Years
Min: 73.66 Med: 77.16 Max: 85.26
Current: 75.81
TPE:2820's Pretax Margin % is ranked better than 89.3% of 776
companies
in the Capital Markets industry
Industry Median: 20.695
vs TPE:2820: 75.81
China Bills Finance (TPE:2820) 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 Bills Finance Pretax Margin % Related Terms
China Bills Finance Pretax Margin % Historical Data
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The historical data trend for China Bills Finance'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.
TPE:2820 vs MS, GS, SCHW: Pretax Margin % Comparison
For the Capital Markets subindustry, China Bills Finance'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 Bills Finance Pretax Margin % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, China Bills Finance's Pretax Margin % distribution charts can be found below:
* The bar in red indicates where China Bills Finance'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 Bills Finance (TPE:2820) has a Pretax Margin % of 65.40% as of Dec. 2025. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on China Bills Finance and its competitors. This is 15% below median its historical median of 77.16. Over the past decade, China Bills Finance's Pretax Margin % has ranged from 73.66 to 85.26. According to the industry distribution chart, China Bills Finance ranks #83 out of 776 companies in the Capital Markets industry, placing it in the top 10.7%.
Is China Bills Finance's Pretax Margin % too high?
China Bills Finance's current Pretax Margin % of 65.40% is 15% below median its 10-year median of 77.16. Over the past 10 years, this metric has ranged from a low of 73.66 to a high of 85.26. The Capital Markets industry median Pretax Margin % is 20.70. China Bills Finance's value of 65.40% is 216% above this industry median. Based on the distribution chart, China Bills Finance ranks #83 out of 776 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, China Bills Finance has a GF Score™ of 62/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does China Bills Finance's Pretax Margin % compare to MS and GS?
According to the Capital Markets industry distribution chart, China Bills Finance ranks #83 out of 776 companies for Pretax Margin %. This places China Bills Finance in the top 11% of its industry — outperforming the majority of peers. The industry median Pretax Margin % is 20.70. China Bills Finance's value of 65.40% is 216% above this benchmark. Historically, China Bills Finance's own Pretax Margin % has ranged from 73.66 to 85.26 over the past decade. While the company's 10-year median is 77.16 vs. the industry median of 20.70, China Bills Finance 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 Capital Markets company?
The median Pretax Margin % among Capital Markets companies is 20.70, based on 776 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 Bills Finance's current Pretax Margin % of 65.40% is 216% 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 Bills Finance and its competitors. For the Capital Markets industry, the median Pretax Margin % is 20.70 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Bills Finance's current Pretax Margin % is 65.40%, which is 15% below median its own 10-year median of 77.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Bills Finance stock overvalued right now?
Based on GuruFocus' analysis, China Bills Finance (TPE:2820) is currently considered Significantly Undervalued. The stock's GF Value™ is NT$24.43, compared to a current price of NT$16.65 — trading 31.8% below its estimated fair value. The current Pretax Margin % is 65.40%, which is 15% below median its 10-year median of 77.16 and 216% above the Capital Markets industry median of 20.70. China Bills Finance's overall GF Score™ is 62/100 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 China Bills Finance (TPE:2820), the current Pretax Margin % is 65.40% 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 China Bills Finance (TPE:2820) Overvalued in 2026?
Based on GuruFocus' analysis, China Bills Finance stock appears to be undervalued.
The current stock price of NT$16.65 is trading 31.8% below its estimated GF Value™ of NT$24.43.
GuruFocus considers China Bills Finance to be Significantly Undervalued.
Key valuation signals for TPE:2820:
Pretax Margin %: 65.40% (15% below median its 10-year median of 77.16)
GF Value™: NT$24.43 vs. price of NT$16.65 (31.8% below fair value)
Industry Position: 216% above the Capital Markets median (#83 of 776)
No single metric tells the full story. See the TPE:2820 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Bills Finance Corp focuses on corporate financing and fixed-income commodities. The company's business activities consist of certifying and underwriting of short-term bills and bank debentures; brokering or undertaking proprietary trading of short-term bills, bank debentures, government and corporate bonds, and foreign bonds; guaranteeing short-term bills; providing financial consulting services to enterprises; processing interbank call loans; equity investments; fixed-income security trading; (h) foreign-currency bills investment; and doing other businesses as authorized by relevant authorities. Its business is concentrated in Taiwan.
62GF Score
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