Vulcan SteelASX:VSL -0.60%60 Gross Margin % is 33.67% as of Dec. 2025, which is 5% below its 10-year median of 35.45. GuruFocus rates ASX:VSL with a GF Score™ of 60/100 and a GF Value™ of A$6.22 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 598 Steel companies, Vulcan Steel ranks better than 87.29% on this metric.
The historical rank and industry rank for Vulcan Steel's Gross Margin % or its related term are showing as below:
ASX:VSL'
s Gross Margin % Range Over the Past 10 Years
Min: 33.43 Med: 35.45 Max: 39.97
Current: 33.43
During the past 4 years, the highestGross Margin % of Vulcan Steel was 39.97%. The lowest was 33.43%. And the median was 35.45%.
ASX:VSL's Gross Margin % is ranked better than 87.29% of 598
companies
in the Steel industry
Industry Median: 12.61
vs ASX:VSL: 33.43
Vulcan Steel had a gross margin of 33.67% for the quarter that ended in Dec. 2025 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for Vulcan Steel was 0.00% per year.
Vulcan Steel (ASX:VSL) Gross Margin % Explanation
Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.
Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %
1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key
Vulcan Steel had a gross margin of 33.67% for the quarter that ended in Dec. 2025 => Competition eroding margins
Be Aware
If a company loses its competitive advantages, usually its gross margin declines well before its sales declines. Watching Gross Margin % and Operating Margin % closely helps avoid value trap situations.
Vulcan Steel Gross Margin % Related Terms
Vulcan Steel Gross Margin % Historical Data
* Premium members only.
The historical data trend for Vulcan Steel's Gross 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.
ASX:VSL vs NUE, STLD, RS: Gross Margin % Comparison
For the Steel subindustry, Vulcan Steel's Gross Margin %, along with its competitors' market caps and Gross 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.
Vulcan Steel Gross Margin % vs Steel Industry
For the Steel industry and Basic Materials sector, Vulcan Steel's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Vulcan Steel's Gross 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.
A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.
Vulcan Steel (ASX:VSL) has a Gross Margin % of 33.67% as of Dec. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on Vulcan Steel and its competitors. This is near median its historical median of 35.45. Over the past decade, Vulcan Steel's Gross Margin % has ranged from 33.43 to 39.97. According to the industry distribution chart, Vulcan Steel ranks #76 out of 598 companies in the Steel industry, placing it in the top 12.7%.
Is Vulcan Steel's Gross Margin % too high?
Vulcan Steel's current Gross Margin % of 33.67% is near median its 10-year median of 35.45. Over the past 10 years, this metric has ranged from a low of 33.43 to a high of 39.97. The Steel industry median Gross Margin % is 12.61. Vulcan Steel's value of 33.67% is 167% above this industry median. Based on the distribution chart, Vulcan Steel ranks #76 out of 598 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, Vulcan Steel has a GF Score™ of 60/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Vulcan Steel's Gross Margin % compare to NUE and STLD?
According to the Steel industry distribution chart, Vulcan Steel ranks #76 out of 598 companies for Gross Margin %. This places Vulcan Steel in the top 13% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 12.61. Vulcan Steel's value of 33.67% is 167% above this benchmark. Historically, Vulcan Steel's own Gross Margin % has ranged from 33.43 to 39.97 over the past decade. While the company's 10-year median is 35.45 vs. the industry median of 12.61, Vulcan Steel 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 Gross Margin % for a Steel company?
The median Gross Margin % among Steel companies is 12.61, based on 598 companies in the industry. Companies in the top quartile (top 25%) have a Gross Margin % significantly above this median, while those in the bottom quartile fall well below. However, Gross Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Vulcan Steel's current Gross Margin % of 33.67% is 167% 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 Gross Margin % mean?
A high Gross Margin % can signal that a stock is expensive relative to its fundamentals. Gross margin is the ratio of total gross profit to net sales. View historical data on Vulcan Steel and its competitors. For the Steel industry, the median Gross Margin % is 12.61 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vulcan Steel's current Gross Margin % is 33.67%, which is near median its own 10-year median of 35.45. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vulcan Steel stock overvalued right now?
Based on GuruFocus' analysis, Vulcan Steel (ASX:VSL) is currently considered Modestly Undervalued. The stock's GF Value™ is A$6.22, compared to a current price of A$5.01 — trading 19.5% below its estimated fair value. The current Gross Margin % is 33.67%, which is near median its 10-year median of 35.45 and 167% above the Steel industry median of 12.61. Vulcan Steel's overall GF Score™ is 60/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Gross Margin % calculated?
Gross Margin % is calculated from a company's financial statements. For Vulcan Steel (ASX:VSL), the current Gross Margin % is 33.67% 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 Vulcan Steel (ASX:VSL) Overvalued in 2026?
Based on GuruFocus' analysis, Vulcan Steel stock appears to be undervalued.
The current stock price of A$5.01 is trading 19.5% below its estimated GF Value™ of A$6.22.
GuruFocus considers Vulcan Steel to be Modestly Undervalued.
Key valuation signals for ASX:VSL:
Gross Margin %: 33.67% (near median its 10-year median of 35.45)
GF Value™: A$6.22 vs. price of A$5.01 (19.5% below fair value)
Industry Position: 167% above the Steel median (#76 of 598)
No single metric tells the full story. See the ASX:VSL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Vulcan Steel Ltd is a metals distributor and processor. Its products include Steel, Stainless Steel, Engineering steel, Plate processing, and Coil processing. The company has two operating segments namely, the Steel business across New Zealand and Australia which includes Steel distribution, Plate processing, and Coil processing; and Metals business across New Zealand, which includes Stainless Steel, Engineering Steel, and Aluminium.
60GF Score
Get the complete analysis for ASX:VSL
Gross Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
ASX:VSL has been successfully added to your 
