Balkan and Sea Properties Reit-Varna (XBUL:BSP) Pretax Margin %: -36.24% (As of Mar. 2026)

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Director of Data and Quant Analytics at GuruFocus
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XBUL:BSP Balkan and Sea Properties Reit-Varna XBUL:BSP
53 GF Score
Price €12.80
GF Value €147.90
Valuation Significantly Undervalued
! 6 Warning Signs
View Full Analysis

What is Balkan and Sea Properties Reit-Varna Pretax Margin %?

Balkan and Sea Properties Reit-Varna XBUL:BSP 53 Pretax Margin % is -36.24% as of Mar. 2026. GuruFocus rates XBUL:BSP with a GF Score™ of 53/100 and a GF Value™ of €147.90 (Significantly Undervalued). The stock has 6 warning signs investors should review. Among 924 REITs companies, Balkan and Sea Properties Reit-Varna ranks worse than 68.51% on this metric.

Pre-Tax margin is calculated as Pre-Tax Income divided by its Revenue. Balkan and Sea Properties Reit-Varna's Pre-Tax Income for the three months ended in Mar. 2026 was €-0.21 Mil. Balkan and Sea Properties Reit-Varna's Revenue for the three months ended in Mar. 2026 was €0.57 Mil. Therefore, Balkan and Sea Properties Reit-Varna's pretax margin for the quarter that ended in Mar. 2026 was -36.24%.

The historical rank and industry rank for Balkan and Sea Properties Reit-Varna's Pretax Margin % or its related term are showing as below:

XBUL:BSP' s Pretax Margin % Range Over the Past 10 Years
Min: 8.99   Med: 81.12   Max: 3183.33
Current: 25.56


XBUL:BSP's Pretax Margin % is ranked worse than
68.51% of 924 companies
in the REITs industry
Industry Median: 46.675 vs XBUL:BSP: 25.56

Balkan and Sea Properties Reit-Varna  (XBUL:BSP) 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.


Balkan and Sea Properties Reit-Varna Pretax Margin % Related Terms


Balkan and Sea Properties Reit-Varna Pretax Margin % Historical Data

* Premium members only.

The historical data trend for Balkan and Sea Properties Reit-Varna'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.

Balkan and Sea Properties Reit-Varna Pretax Margin % Chart

Balkan and Sea Properties Reit-Varna Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Pretax Margin %
Get a 7-Day Free Trial Premium Member Only Premium Member Only 3,183.33 882.69 90.36 31.13 19.37

Balkan and Sea Properties Reit-Varna Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Pretax Margin % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -13.85 200.72 -9.43 119.08 -36.24

XBUL:BSP vs VICI, WPC: Pretax Margin % Comparison

For the REIT - Diversified subindustry, Balkan and Sea Properties Reit-Varna'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.


Balkan and Sea Properties Reit-Varna Pretax Margin % vs REITs Industry

For the REITs industry and Real Estate sector, Balkan and Sea Properties Reit-Varna's Pretax Margin % distribution charts can be found below:

* The bar in red indicates where Balkan and Sea Properties Reit-Varna's Pretax Margin % falls into.


XBUL:BSP
53GF Score
Balkan and Sea Properties Reit-Varna XBUL:BSP
Pretax Margin % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Balkan and Sea Properties Reit-Varna Pretax Margin % Calculation

Pretax margin - also known as pretax profit margin is the ratio of Pretax Income divided by net sales or Revenue, usually presented in percent.

Balkan and Sea Properties Reit-Varna's Pretax Margin for the fiscal year that ended in Dec. 2025 is calculated as

Pretax Margin=Pre-Tax Income (A: Dec. 2025 )/Revenue (A: Dec. 2025 )
=0.551/2.845
=19.37 %

Balkan and Sea Properties Reit-Varna's Pretax Margin for the quarter that ended in Mar. 2026 is calculated as

Pretax Margin=Pre-Tax Income (Q: Mar. 2026 )/Revenue (Q: Mar. 2026 )
=-0.208/0.574
=-36.24 %

* 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.

Frequently Asked Questions Learn more about Pretax Margin % →
What does a Pretax Margin % of -36.24% mean?
Balkan and Sea Properties Reit-Varna (XBUL:BSP) has a Pretax Margin % of -36.24% as of Mar. 2026. Pre-Tax margin is the ratio of total pre-tax income to net sales. View historical data on Balkan and Sea Properties Reit-Varna and its competitors. Over the past decade, Balkan and Sea Properties Reit-Varna's Pretax Margin % has ranged from 8.99 to 3,183.33. According to the industry distribution chart, Balkan and Sea Properties Reit-Varna ranks #633 out of 924 companies in the REITs industry, placing it in the top 68.5%.
Is Balkan and Sea Properties Reit-Varna's Pretax Margin % too high?
Balkan and Sea Properties Reit-Varna's current Pretax Margin % is -36.24%. Over the past 10 years, this metric has ranged from a low of 8.99 to a high of 3,183.33. Based on the distribution chart, Balkan and Sea Properties Reit-Varna ranks #633 out of 924 companies in the REITs industry, which is below the industry midpoint. Overall, Balkan and Sea Properties Reit-Varna has a GF Score™ of 53/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Balkan and Sea Properties Reit-Varna's Pretax Margin % compare to VICI and WPC?
According to the REITs industry distribution chart, Balkan and Sea Properties Reit-Varna ranks #633 out of 924 companies for Pretax Margin %. This places Balkan and Sea Properties Reit-Varna in the lower half of its industry. The industry median Pretax Margin % is 46.68. Historically, Balkan and Sea Properties Reit-Varna's own Pretax Margin % has ranged from 8.99 to 3,183.33 over the past decade. 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 46.68, based on 924 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. 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 Balkan and Sea Properties Reit-Varna and its competitors. For the REITs industry, the median Pretax Margin % is 46.68 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Balkan and Sea Properties Reit-Varna's current Pretax Margin % is -36.24%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Balkan and Sea Properties Reit-Varna stock overvalued right now?
Based on GuruFocus' analysis, Balkan and Sea Properties Reit-Varna (XBUL:BSP) is currently considered Significantly Undervalued. The stock's GF Value™ is €147.90, compared to a current price of €12.80 — trading 91.3% below its estimated fair value. The current Pretax Margin % is -36.24%. Balkan and Sea Properties Reit-Varna's overall GF Score™ is 53/100 with 6 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 Balkan and Sea Properties Reit-Varna (XBUL:BSP), the current Pretax Margin % is -36.24% 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 Balkan and Sea Properties Reit-Varna (XBUL:BSP) Overvalued in 2026?

Based on GuruFocus' analysis, Balkan and Sea Properties Reit-Varna stock appears to be undervalued. The current stock price of €12.80 is trading 91.3% below its estimated GF Value™ of €147.90. GuruFocus considers Balkan and Sea Properties Reit-Varna to be Significantly Undervalued.

Key valuation signals for XBUL:BSP:

  • Pretax Margin %: -36.24%
  • GF Value™: €147.90 vs. price of €12.80 (91.3% below fair value)
  • GF Score™: 53/100 with 6 warning signs

No single metric tells the full story. See the XBUL:BSP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Balkan and Sea Properties Reit-Varna Business Description

Industry Real EstateREITs
Address 14 General Kolev Boulevard, Varna, BGR, 9000
Balkan and Sea Properties Reit-Varna is a real estate investment trust.
53GF Score

Get the complete analysis for XBUL:BSP

Pretax Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€12.80
Price
€147.90
GF Value