Pacific Pipe PCLBKK:PAP -1.65%52 Gross Margin % is 10.46% as of Mar. 2026, which is 74% above its 10-year median of 6.01. GuruFocus rates BKK:PAP with a GF Score™ of 52/100 and a GF Value™ of ฿1.91 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 593 Steel companies, Pacific Pipe PCL ranks worse than 72.01% on this metric.
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
Pacific Pipe PCL had a gross margin of 10.46% for the quarter that ended in Mar. 2026 => No sustainable 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.
Pacific Pipe PCL Gross Margin % Related Terms
Pacific Pipe PCL Gross Margin % Historical Data
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The historical data trend for Pacific Pipe 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:PAP vs NUE, STLD, RS: Gross Margin % Comparison
For the Steel subindustry, Pacific Pipe 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.
Pacific Pipe PCL Gross Margin % vs Steel Industry
For the Steel industry and Basic Materials sector, Pacific Pipe PCL's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Pacific Pipe 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.
Pacific Pipe PCL (BKK:PAP) has a Gross Margin % of 10.46% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Pacific Pipe PCL and its competitors. This is 74% above median its historical median of 6.01. Over the past decade, Pacific Pipe PCL's Gross Margin % has ranged from 0.14 to 13.91. According to the industry distribution chart, Pacific Pipe PCL ranks #427 out of 593 companies in the Steel industry, placing it in the top 72%.
Is Pacific Pipe PCL's Gross Margin % too high?
Pacific Pipe PCL's current Gross Margin % of 10.46% is 74% above median its 10-year median of 6.01. Over the past 10 years, this metric has ranged from a low of 0.14 to a high of 13.91. The Steel industry median Gross Margin % is 12.60. Pacific Pipe PCL's value of 10.46% is 17% below this industry median. Based on the distribution chart, Pacific Pipe PCL ranks #427 out of 593 companies in the Steel industry, which is below the industry midpoint. Overall, Pacific Pipe PCL has a GF Score™ of 52/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Pacific Pipe PCL's Gross Margin % compare to NUE and STLD?
According to the Steel industry distribution chart, Pacific Pipe PCL ranks #427 out of 593 companies for Gross Margin %. This places Pacific Pipe PCL in the lower half of its industry. The industry median Gross Margin % is 12.60. Pacific Pipe PCL's value of 10.46% is 17% below this benchmark. Historically, Pacific Pipe PCL's own Gross Margin % has ranged from 0.14 to 13.91 over the past decade. While the company's 10-year median is 6.01 vs. the industry median of 12.60, Pacific Pipe 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 Steel company?
The median Gross Margin % among Steel companies is 12.60, based on 593 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. Pacific Pipe PCL's current Gross Margin % of 10.46% is 17% 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 Pacific Pipe PCL and its competitors. For the Steel industry, the median Gross Margin % is 12.60 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pacific Pipe PCL's current Gross Margin % is 10.46%, which is 74% above median its own 10-year median of 6.01. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pacific Pipe PCL stock overvalued right now?
Based on GuruFocus' analysis, Pacific Pipe PCL (BKK:PAP) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿1.91, compared to a current price of ฿2.38 — trading 24.6% above its estimated fair value. The current Gross Margin % is 10.46%, which is 74% above median its 10-year median of 6.01 and 17% below the Steel industry median of 12.60. Pacific Pipe PCL's overall GF Score™ is 52/100 with 4 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 Pacific Pipe PCL (BKK:PAP), the current Gross Margin % is 10.46% 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 Pacific Pipe PCL (BKK:PAP) Overvalued in 2026?
Based on GuruFocus' analysis, Pacific Pipe PCL stock appears to be overvalued.
The current stock price of ฿2.38 is trading 24.6% above its estimated GF Value™ of ฿1.91.
GuruFocus considers Pacific Pipe PCL to be Modestly Overvalued.
Key valuation signals for BKK:PAP:
Gross Margin %: 10.46% (74% above median its 10-year median of 6.01)
GF Value™: ฿1.91 vs. price of ฿2.38 (24.6% above fair value)
Industry Position: 17% below the Steel median (#427 of 593)
No single metric tells the full story. See the BKK:PAP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pacific Pipe PCL is engaged in manufacturing and distributing steel pipes for construction work. The one reportable operating segment of the company is the manufacture and distribution of steel pipes, structural steel and contract of steel productions for construction work and the single geographical area of its operations is Thailand.
52GF Score
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