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China Tourism Group Duty FreeCTGDF 81 Gross Margin % is 33.63% as of Mar. 2026, which is 4% above its 10-year median of 32.39. GuruFocus rates CTGDF with a GF Score™ of 81/100. The stock has 5 warning signs investors should review. Among 1,121 Retail - Cyclical companies, China Tourism Group Duty Free ranks worse than 55.93% on this metric.
China Tourism Group Duty Free (OTCPK:CTGDF) 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
China Tourism Group Duty Free had a gross margin of 33.63% for the quarter that ended in Mar. 2026 => 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.
China Tourism Group Duty Free Gross Margin % Related Terms
China Tourism Group Duty Free 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.
China Tourism Group Duty Free Gross Margin % Chart
CTGDF vs CASY, WSM, ULTA: Gross Margin % Comparison
For the Specialty Retail subindustry, China Tourism Group Duty Free'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.
China Tourism Group Duty Free Gross Margin % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, China Tourism Group Duty Free's Gross Margin % distribution charts can be found below:
* The bar in red indicates where China Tourism Group Duty Free'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.
China Tourism Group Duty Free (CTGDF) has a Gross Margin % of 33.63% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on China Tourism Group Duty Free and its competitors. This is near median its historical median of 32.39. Over the past decade, China Tourism Group Duty Free's Gross Margin % has ranged from 25.07 to 51.07. According to the industry distribution chart, China Tourism Group Duty Free ranks #627 out of 1121 companies in the Retail - Cyclical industry, placing it in the top 55.9%.
Is China Tourism Group Duty Free's Gross Margin % too high?
China Tourism Group Duty Free's current Gross Margin % of 33.63% is near median its 10-year median of 32.39. Over the past 10 years, this metric has ranged from a low of 25.07 to a high of 51.07. The Retail - Cyclical industry median Gross Margin % is 36.25. China Tourism Group Duty Free's value of 33.63% is 7.2% below this industry median. Based on the distribution chart, China Tourism Group Duty Free ranks #627 out of 1121 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, China Tourism Group Duty Free has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.
How does China Tourism Group Duty Free's Gross Margin % compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, China Tourism Group Duty Free ranks #627 out of 1121 companies for Gross Margin %. This places China Tourism Group Duty Free in the lower half of its industry. The industry median Gross Margin % is 36.25. China Tourism Group Duty Free's value of 33.63% is 7.2% below this benchmark. Historically, China Tourism Group Duty Free's own Gross Margin % has ranged from 25.07 to 51.07 over the past decade. While the company's 10-year median is 32.39 vs. the industry median of 36.25, China Tourism Group Duty Free 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 Retail - Cyclical company?
The median Gross Margin % among Retail - Cyclical companies is 36.25, based on 1,121 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. China Tourism Group Duty Free's current Gross Margin % of 33.63% is 7.2% 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 China Tourism Group Duty Free and its competitors. For the Retail - Cyclical industry, the median Gross Margin % is 36.25 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Tourism Group Duty Free's current Gross Margin % is 33.63%, which is near median its own 10-year median of 32.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Tourism Group Duty Free stock overvalued right now?
China Tourism Group Duty Free (CTGDF) has a current Gross Margin % of 33.63%. The current Gross Margin % is 33.63%, which is near median its 10-year median of 32.39 and 7.2% below the Retail - Cyclical industry median of 36.25. China Tourism Group Duty Free's overall GF Score™ is 81/100 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 China Tourism Group Duty Free (CTGDF), the current Gross Margin % is 33.63% 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.
Established in 1984, China Tourism Group Duty Free is China's largest and the world's second-largest travel retailer in 2025 with revenue of CNY 54 billion. The company primarily operates duty-free stores at airports, border crossings, offshore, downtown, and on flights, cruises and ships, with about 200 stores spanning over 33 provinces in China, as well as overseas. The company also operates a duty-paid business. Its 2025 revenue mix was 73% duty-free sales and 27% duty-paid sales and others. CTG Duty Free is 50% owned by China Tourism Group, a state-owned enterprise that falls directly under the State-owned Assets Supervision and Administration Commission of the State Council.
81GF Score
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