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Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue.
Steel Partners Holdings LP's Degree of Operating Leverage for the quarter that ended in Sep. 2025 was 5.16. The higher Degree of Operating Leverage, the higher operating risk the company will take.
The industry rank for Steel Partners Holdings LP's Degree of Operating Leverage or its related term are showing as below:
SPLP's Degree of Operating Leverage is not ranked
in the Conglomerates industry.
Industry Median: 0.98
vs SPLP: 5.16
Steel Partners Holdings LP (OTCPK:SPLP) Degree of Operating Leverage Explanation
Degree of Operating Leverage (DOL) is a leverage ratio that measures the sensitivity of a company’s operting income, also referred to as Earnings Before Interest and Taxes (EBIT), to fluctuations in its Revenue. DOL is a method used to quantify a company’s operating risk. This risk is related to the company's structure of variable costs and fixed costs. Since the fixed costs do not allow the company to adjust the operating costs, the operating risk rises with a higher fixed-to-variable costs proportion.
A high Degree of Operating Leverage indicates that the company’s fixed costs exceed its variable costs. By increasing the sales, the company can earn more profits. In addition, the company must be able to maintain relatively high sales to cover all fixed costs.
Be Aware
The use of operating leverage varies across different industries and business sectors, and the application of Degree of Operating Leverage (DOL) should be adjusted accordingly.
Steel Partners Holdings LP Degree of Operating Leverage Related Terms
Steel Partners Holdings LP Degree of Operating Leverage Historical Data
* Premium members only.
The historical data trend for Steel Partners Holdings LP's Degree of Operating Leverage 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.
Steel Partners Holdings LP Degree of Operating Leverage Chart
SPLP vs MATW, DLX, FIP: Degree of Operating Leverage Comparison
For the Conglomerates subindustry, Steel Partners Holdings LP's Degree of Operating Leverage, along with its competitors' market caps and Degree of Operating Leverage 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.
Steel Partners Holdings LP Degree of Operating Leverage vs Conglomerates Industry
For the Conglomerates industry and Industrials sector, Steel Partners Holdings LP's Degree of Operating Leverage distribution charts can be found below:
* The bar in red indicates where Steel Partners Holdings LP's Degree of Operating Leverage 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.
** TTM data of EBIT and Revenue was used to calculate Degree of Operating Leverage.
*** Please be aware that the Degree of Operating Leverage calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
What does a Degree of Operating Leverage of 5.16 mean?
Steel Partners Holdings LP (SPLP) has a Degree of Operating Leverage of 5.16 as of Sep. 2025. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for Steel Partners Holdings LP and its competitors.
Is Steel Partners Holdings LP's Degree of Operating Leverage too high?
Steel Partners Holdings LP's current Degree of Operating Leverage is 5.16. The Conglomerates industry median Degree of Operating Leverage is 0.98. Steel Partners Holdings LP's value of 5.16 is 426.5% above this industry median. Overall, Steel Partners Holdings LP has a GF Score™ of 66/100, reflecting its overall financial health beyond just this single metric.
How does Steel Partners Holdings LP's Degree of Operating Leverage compare to MATW and DLX?
Steel Partners Holdings LP's Degree of Operating Leverage of 5.16 can be compared against companies in the Conglomerates industry. The industry median Degree of Operating Leverage is 0.98. Steel Partners Holdings LP's value of 5.16 is 426.5% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Degree of Operating Leverage for a Conglomerates company?
The median Degree of Operating Leverage among Conglomerates companies is 0.98, based on 539 companies in the industry. Companies in the top quartile (top 25%) have a Degree of Operating Leverage significantly above this median, while those in the bottom quartile fall well below. However, Degree of Operating Leverage should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Steel Partners Holdings LP's current Degree of Operating Leverage of 5.16 is 426.5% 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 Degree of Operating Leverage mean?
A high Degree of Operating Leverage can signal that a stock is expensive relative to its fundamentals. Degree of Operating Leverage (DOL) measures the percentage change in EBIT for a unit change in Revenue. View historical data for Steel Partners Holdings LP and its competitors. For the Conglomerates industry, the median Degree of Operating Leverage is 0.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Steel Partners Holdings LP's current Degree of Operating Leverage is 5.16. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Steel Partners Holdings LP stock overvalued right now?
Steel Partners Holdings LP (SPLP) has a current Degree of Operating Leverage of 5.16. The stock's GF Value™ is $51.26, compared to a current price of $50.00 — trading 2.5% below its estimated fair value. The current Degree of Operating Leverage is 5.16 and 426.5% above the Conglomerates industry median of 0.98. Steel Partners Holdings LP's overall GF Score™ is 66/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Degree of Operating Leverage calculated?
Degree of Operating Leverage is calculated from a company's financial statements. For Steel Partners Holdings LP (SPLP), the current Degree of Operating Leverage is 5.16 as of Sep. 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 Steel Partners Holdings LP (SPLP) Overvalued in 2026?
Based on GuruFocus' analysis, Steel Partners Holdings LP stock appears to be undervalued.
The current stock price of $50.00 is trading 2.5% below its estimated GF Value™ of $51.26.
Key valuation signals for SPLP:
Degree of Operating Leverage: 5.16
GF Value™: $51.26 vs. price of $50.00 (2.5% below fair value)
Industry Position: 426.5% above the Conglomerates median
No single metric tells the full story. See the SPLP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Steel Partners Holdings LP operates in industrial products, energy, defense, supply chain management and logistics, banking, and youth sports industries. Its segments include the Diversified Industrial segment comprised of manufacturers of engineered niche industrial products, joining materials, tubing, building materials, performance materials etc; the Energy segment provides drilling and production services to the oil and gas industry and owns a youth sports business; the Financial Services segment consists of the operations of WebBank, a Utah chartered industrial bank, which engages in full range of banking activities; The Supply Chain segment consists of end-to-end world-wide supply; and Corporate and Other consists of equity method and other investments, and cash and cash equivalents.
66GF Score
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