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
SMI - Ste Metallurgique d'Imiter had a gross margin of 74.64% for the quarter that ended in Dec. 2025 => 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.
SMI - Ste Metallurgique d'Imiter Gross Margin % Related Terms
SMI - Ste Metallurgique d'Imiter 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.
For the Other Industrial Metals & Mining subindustry, SMI - Ste Metallurgique d'Imiter'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.
SMI - Ste Metallurgique d'Imiter Gross Margin % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, SMI - Ste Metallurgique d'Imiter's Gross Margin % distribution charts can be found below:
* The bar in red indicates where SMI - Ste Metallurgique d'Imiter'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.
SMI - Ste Metallurgique d'Imiter (CAS:SMI) has a Gross Margin % of 74.64% as of Dec. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on SMI - Ste Metallurgique d'Imiter and its competitors. This is near median its historical median of 72.42. Over the past decade, SMI - Ste Metallurgique d'Imiter's Gross Margin % has ranged from 65.92 to 83.03. According to the industry distribution chart, SMI - Ste Metallurgique d'Imiter ranks #58 out of 730 companies in the Metals & Mining industry, placing it in the top 7.9%.
Is SMI - Ste Metallurgique d'Imiter's Gross Margin % too high?
SMI - Ste Metallurgique d'Imiter's current Gross Margin % of 74.64% is near median its 10-year median of 72.42. Over the past 10 years, this metric has ranged from a low of 65.92 to a high of 83.03. The Metals & Mining industry median Gross Margin % is 26.18. SMI - Ste Metallurgique d'Imiter's value of 74.64% is 185.2% above this industry median. Based on the distribution chart, SMI - Ste Metallurgique d'Imiter ranks #58 out of 730 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, SMI - Ste Metallurgique d'Imiter has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does SMI - Ste Metallurgique d'Imiter's Gross Margin % compare to competitors?
According to the Metals & Mining industry distribution chart, SMI - Ste Metallurgique d'Imiter ranks #58 out of 730 companies for Gross Margin %. This places SMI - Ste Metallurgique d'Imiter in the top 8% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 26.18. SMI - Ste Metallurgique d'Imiter's value of 74.64% is 185.2% above this benchmark. Historically, SMI - Ste Metallurgique d'Imiter's own Gross Margin % has ranged from 65.92 to 83.03 over the past decade. While the company's 10-year median is 72.42 vs. the industry median of 26.18, SMI - Ste Metallurgique d'Imiter 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 Metals & Mining company?
The median Gross Margin % among Metals & Mining companies is 26.18, based on 730 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. SMI - Ste Metallurgique d'Imiter's current Gross Margin % of 74.64% is 185.2% 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 SMI - Ste Metallurgique d'Imiter and its competitors. For the Metals & Mining industry, the median Gross Margin % is 26.18 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SMI - Ste Metallurgique d'Imiter's current Gross Margin % is 74.64%, which is near median its own 10-year median of 72.42. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SMI - Ste Metallurgique d'Imiter stock overvalued right now?
Based on GuruFocus' analysis, SMI - Ste Metallurgique d'Imiter (CAS:SMI) is currently considered Significantly Overvalued. The stock's GF Value™ is MAD3,417.45, compared to a current price of MAD5,950.00 — trading 74.1% above its estimated fair value. The current Gross Margin % is 74.64%, which is near median its 10-year median of 72.42 and 185.2% above the Metals & Mining industry median of 26.18. SMI - Ste Metallurgique d'Imiter's overall GF Score™ is 73/100 with 2 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 SMI - Ste Metallurgique d'Imiter (CAS:SMI), the current Gross Margin % is 74.64% 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 SMI - Ste Metallurgique d'Imiter (CAS:SMI) Overvalued in 2026?
Based on GuruFocus' analysis, SMI - Ste Metallurgique d'Imiter stock appears to be overvalued.
The current stock price of MAD5,950.00 is trading 74.1% above its estimated GF Value™ of MAD3,417.45.
GuruFocus considers SMI - Ste Metallurgique d'Imiter to be Significantly Overvalued.
Key valuation signals for CAS:SMI:
Gross Margin %: 74.64% (near median its 10-year median of 72.42)
GF Value™: MAD3,417.45 vs. price of MAD5,950.00 (74.1% above fair value)
Industry Position: 185.2% above the Metals & Mining median (#58 of 730)
No single metric tells the full story. See the CAS:SMI stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SMI - Ste Metallurgique d'Imiter Business Description
SMI - Ste Metallurgique d'Imiter is a Morocco-based company engaged in the mining industry. The company's product portfolio consists of precious metals such as Silver and Gold, Copper, Zinc, Cobalt cathode, Arsenic, Nickel and many more. Its Morocco project consists of Bouskour and Tizert. The Bouskour project is located approximately 80 kilometers southeast of the city of Ouarzazate. Its Tizert project is situated approximately 80 kilometers east of the city of Agadir in the province of Taroudant. The company's Africa project comprises of Gold projects, Tri-K projects, Pumpi project, and Assosa and Budur projects.
73GF Score
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