Netbay PCLBKK:NETBAY +1.03%78 Gross Margin % is 62.75% as of Mar. 2026, which is 21% below its 10-year median of 78.95. GuruFocus rates BKK:NETBAY with a GF Score™ of 78/100 and a GF Value™ of ฿21.57 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 2,683 Software companies, Netbay PCL ranks better than 78.61% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Netbay PCL's Gross Profit for the
three
months ended in Mar. 2026 was ฿86.2 Mil. Netbay PCL's Revenue for the
three
months ended in Mar. 2026 was ฿137.4 Mil. Therefore, Netbay PCL's Gross Margin % for the quarter that ended in Mar. 2026 was 62.75%.
Warning Sign:
Netbay PCL gross margin has been in long-term decline. The average rate of decline per year is -1.2%.
The historical rank and industry rank for Netbay PCL's Gross Margin % or its related term are showing as below:
BKK:NETBAY'
s Gross Margin % Range Over the Past 10 Years
Min: 68.79 Med: 78.95 Max: 80.5
Current: 68.79
During the past 11 years, the highestGross Margin % of Netbay PCL was 80.50%. The lowest was 68.79%. And the median was 78.95%.
BKK:NETBAY's Gross Margin % is ranked better than 78.61% of 2683
companies
in the Software industry
Industry Median: 40.45
vs BKK:NETBAY: 68.79
Netbay PCL had a gross margin of 62.75% for the quarter that ended in Mar. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Netbay PCL was -1.20% per year.
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
Netbay PCL had a gross margin of 62.75% 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.
Netbay PCL Gross Margin % Related Terms
Netbay PCL Gross Margin % Historical Data
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The historical data trend for Netbay PCL'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.
BKK:NETBAY vs CRM, SHOP, UBER: Gross Margin % Comparison
For the Software - Application subindustry, Netbay 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.
Netbay PCL Gross Margin % vs Software Industry
For the Software industry and Technology sector, Netbay PCL's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Netbay 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.
Netbay PCL (BKK:NETBAY) has a Gross Margin % of 62.75% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Netbay PCL and its competitors. This is 21% below median its historical median of 78.95. Over the past decade, Netbay PCL's Gross Margin % has ranged from 68.79 to 80.50. According to the industry distribution chart, Netbay PCL ranks #574 out of 2683 companies in the Software industry, placing it in the top 21.4%.
Is Netbay PCL's Gross Margin % too high?
Netbay PCL's current Gross Margin % of 62.75% is 21% below median its 10-year median of 78.95. Over the past 10 years, this metric has ranged from a low of 68.79 to a high of 80.50. The Software industry median Gross Margin % is 40.45. Netbay PCL's value of 62.75% is 55.1% above this industry median. Based on the distribution chart, Netbay PCL ranks #574 out of 2683 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Netbay PCL has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Netbay PCL's Gross Margin % compare to CRM and SHOP?
According to the Software industry distribution chart, Netbay PCL ranks #574 out of 2683 companies for Gross Margin %. This places Netbay PCL in the top 21% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 40.45. Netbay PCL's value of 62.75% is 55.1% above this benchmark. Historically, Netbay PCL's own Gross Margin % has ranged from 68.79 to 80.50 over the past decade. While the company's 10-year median is 78.95 vs. the industry median of 40.45, Netbay PCL 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 Software company?
The median Gross Margin % among Software companies is 40.45, based on 2,683 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. Netbay PCL's current Gross Margin % of 62.75% is 55.1% 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 Netbay PCL and its competitors. For the Software industry, the median Gross Margin % is 40.45 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Netbay PCL's current Gross Margin % is 62.75%, which is 21% below median its own 10-year median of 78.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Netbay PCL stock overvalued right now?
Based on GuruFocus' analysis, Netbay PCL (BKK:NETBAY) is currently considered Significantly Undervalued. The stock's GF Value™ is ฿21.57, compared to a current price of ฿9.85 — trading 54.3% below its estimated fair value. The current Gross Margin % is 62.75%, which is 21% below median its 10-year median of 78.95 and 55.1% above the Software industry median of 40.45. Netbay PCL's overall GF Score™ is 78/100 with 3 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 Netbay PCL (BKK:NETBAY), the current Gross Margin % is 62.75% 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 Netbay PCL (BKK:NETBAY) Overvalued in 2026?
Based on GuruFocus' analysis, Netbay PCL stock appears to be undervalued.
The current stock price of ฿9.85 is trading 54.3% below its estimated GF Value™ of ฿21.57.
GuruFocus considers Netbay PCL to be Significantly Undervalued.
Key valuation signals for BKK:NETBAY:
Gross Margin %: 62.75% (21% below median its 10-year median of 78.95)
GF Value™: ฿21.57 vs. price of ฿9.85 (54.3% below fair value)
Industry Position: 55.1% above the Software median (#574 of 2683)
No single metric tells the full story. See the BKK:NETBAY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Netbay PCL is a Thailand-based company engaged in the provision and development of computer software used in the transmission of information electronically. The company creates, designs, and develops a digital business technology platform and omnichannel connectivity gateway. It operates in two segments: The e-Business segment, which develops an e-Business product in the form of services (SaaS: Software As A Service), and the e-Service segment, which rendered an e-Business service for the Business segment to Government (B2G) transaction, and Business segment to Business segment (B2B) transaction. The company operates only in Thailand and generates the majority of its revenue from the e-Business segment.
78GF Score
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