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
Maybank Securities (Thailand) PCL had a gross margin of 43.04% for the quarter that ended in Mar. 2026 => Durable competitive advantage
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.
Maybank Securities (Thailand) PCL Gross Margin % Related Terms
Maybank Securities (Thailand) PCL Gross 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.
BKK:MST-R vs MS, GS, SCHW: Gross Margin % Comparison
For the Capital Markets subindustry, Maybank Securities (Thailand) PCL'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.
Maybank Securities (Thailand) PCL Gross Margin % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Maybank Securities (Thailand) PCL's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Maybank Securities (Thailand) PCL'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.
Maybank Securities (Thailand) PCL (BKK:MST-R) has a Gross Margin % of 43.04% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Maybank Securities (Thailand) PCL and its competitors. This is near median its historical median of 42.88. Over the past decade, Maybank Securities (Thailand) PCL's Gross Margin % has ranged from 13.75 to 48.59. According to the industry distribution chart, Maybank Securities (Thailand) PCL ranks #465 out of 618 companies in the Capital Markets industry, placing it in the top 75.2%.
Is Maybank Securities (Thailand) PCL's Gross Margin % too high?
Maybank Securities (Thailand) PCL's current Gross Margin % of 43.04% is near median its 10-year median of 42.88. Over the past 10 years, this metric has ranged from a low of 13.75 to a high of 48.59. The Capital Markets industry median Gross Margin % is 48.29. Maybank Securities (Thailand) PCL's value of 43.04% is 10.9% below this industry median. Based on the distribution chart, Maybank Securities (Thailand) PCL ranks #465 out of 618 companies in the Capital Markets industry, which is in the bottom quartile relative to peers. Overall, Maybank Securities (Thailand) PCL has a GF Score™ of 59/100, reflecting its overall financial health beyond just this single metric.
How does Maybank Securities (Thailand) PCL's Gross Margin % compare to MS and GS?
According to the Capital Markets industry distribution chart, Maybank Securities (Thailand) PCL ranks #465 out of 618 companies for Gross Margin %. This places Maybank Securities (Thailand) PCL in the lower half of its industry. The industry median Gross Margin % is 48.29. Maybank Securities (Thailand) PCL's value of 43.04% is 10.9% below this benchmark. Historically, Maybank Securities (Thailand) PCL's own Gross Margin % has ranged from 13.75 to 48.59 over the past decade. While the company's 10-year median is 42.88 vs. the industry median of 48.29, Maybank Securities (Thailand) PCL has consistently been below 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 Capital Markets company?
The median Gross Margin % among Capital Markets companies is 48.29, based on 618 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. Maybank Securities (Thailand) PCL's current Gross Margin % of 43.04% is 10.9% below 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 Maybank Securities (Thailand) PCL and its competitors. For the Capital Markets industry, the median Gross Margin % is 48.29 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Maybank Securities (Thailand) PCL's current Gross Margin % is 43.04%, which is near median its own 10-year median of 42.88. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Maybank Securities (Thailand) PCL stock overvalued right now?
Maybank Securities (Thailand) PCL (BKK:MST-R) has a current Gross Margin % of 43.04%. The stock's GF Value™ is ฿6.44, compared to a current price of ฿6.85 — trading 6.4% above its estimated fair value. The current Gross Margin % is 43.04%, which is near median its 10-year median of 42.88 and 10.9% below the Capital Markets industry median of 48.29. Maybank Securities (Thailand) PCL's overall GF Score™ is 59/100 with 7 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 Maybank Securities (Thailand) PCL (BKK:MST-R), the current Gross Margin % is 43.04% 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 Maybank Securities (Thailand) PCL (BKK:MST-R) Overvalued in 2026?
Based on GuruFocus' analysis, Maybank Securities (Thailand) PCL stock appears to be overvalued.
The current stock price of ฿6.85 is trading 6.4% above its estimated GF Value™ of ฿6.44.
Key valuation signals for BKK:MST-R:
Gross Margin %: 43.04% (near median its 10-year median of 42.88)
GF Value™: ฿6.44 vs. price of ฿6.85 (6.4% above fair value)
Industry Position: 10.9% below the Capital Markets median (#465 of 618)
No single metric tells the full story. See the BKK:MST-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Maybank Securities (Thailand) PCL Business Description
Maybank Securities (Thailand) PCL is a public limited company incorporated and domiciled in Thailand. The company has licenses for securities business, which are securities brokerage, securities trading, underwriting, investment advisory, corporate finance advisory, securities registrar, derivatives brokerage, and securities borrowing and lending. The company is organized into business units based on its products and services and has two segments, namely the Securities Business segment, which also generates key revenue, provides services like securities brokering, derivative brokering, securities borrowing and lending, and the Investment Banking segment, which provides underwriting, investment advisory, securities borrowing and lending, and corporate finance advisory services.
59GF Score
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