SpinewayFRA:37S +3.51%46 Gross Margin % is 105.24% as of Dec. 2025, which is 44% above its 10-year median of 73.28. GuruFocus rates FRA:37S with a GF Score™ of 46/100 and a GF Value™ of €197.72 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 805 Medical Devices & Instruments companies, Spineway ranks better than 83.73% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Spineway's Gross Profit for the
six
months ended in Dec. 2025 was €7.22 Mil. Spineway's Revenue for the
six
months ended in Dec. 2025 was €6.86 Mil. Therefore, Spineway's Gross Margin % for the quarter that ended in Dec. 2025 was 105.24%.
Warning Sign:
Spineway gross margin has been in long-term decline. The average rate of decline per year is -4%.
The historical rank and industry rank for Spineway's Gross Margin % or its related term are showing as below:
FRA:37S'
s Gross Margin % Range Over the Past 10 Years
Min: 19.28 Med: 73.28 Max: 87.78
Current: 72.48
During the past 13 years, the highestGross Margin % of Spineway was 87.78%. The lowest was 19.28%. And the median was 73.28%.
FRA:37S's Gross Margin % is ranked better than 83.73% of 805
companies
in the Medical Devices & Instruments industry
Industry Median: 51.94
vs FRA:37S: 72.48
Spineway had a gross margin of 105.24% for the quarter that ended in Dec. 2025 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Spineway was -4.00% per year.
Spineway (FRA:37S) 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
Spineway had a gross margin of 105.24% 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.
Spineway Gross Margin % Related Terms
Spineway Gross Margin % Historical Data
* Premium members only.
The historical data trend for Spineway'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.
FRA:37S vs ISRG, BDX, MDLN: Gross Margin % Comparison
For the Medical Instruments & Supplies subindustry, Spineway'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.
Spineway Gross Margin % vs Medical Devices & Instruments Industry
For the Medical Devices & Instruments industry and Healthcare sector, Spineway's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Spineway'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.
Spineway (FRA:37S) has a Gross Margin % of 105.24% as of Dec. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on Spineway and its competitors. This is 44% above median its historical median of 73.28. Over the past decade, Spineway's Gross Margin % has ranged from 19.28 to 87.78. According to the industry distribution chart, Spineway ranks #131 out of 805 companies in the Medical Devices & Instruments industry, placing it in the top 16.3%.
Is Spineway's Gross Margin % too high?
Spineway's current Gross Margin % of 105.24% is 44% above median its 10-year median of 73.28. Over the past 10 years, this metric has ranged from a low of 19.28 to a high of 87.78. The Medical Devices & Instruments industry median Gross Margin % is 51.94. Spineway's value of 105.24% is 102.6% above this industry median. Based on the distribution chart, Spineway ranks #131 out of 805 companies in the Medical Devices & Instruments industry, which is in the top quartile — a strong position relative to peers. Overall, Spineway has a GF Score™ of 46/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Spineway's Gross Margin % compare to ISRG and BDX?
According to the Medical Devices & Instruments industry distribution chart, Spineway ranks #131 out of 805 companies for Gross Margin %. This places Spineway in the top 16% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 51.94. Spineway's value of 105.24% is 102.6% above this benchmark. Historically, Spineway's own Gross Margin % has ranged from 19.28 to 87.78 over the past decade. While the company's 10-year median is 73.28 vs. the industry median of 51.94, Spineway 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 Medical Devices & Instruments company?
The median Gross Margin % among Medical Devices & Instruments companies is 51.94, based on 805 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. Spineway's current Gross Margin % of 105.24% is 102.6% 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 Spineway and its competitors. For the Medical Devices & Instruments industry, the median Gross Margin % is 51.94 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spineway's current Gross Margin % is 105.24%, which is 44% above median its own 10-year median of 73.28. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spineway stock overvalued right now?
Based on GuruFocus' analysis, Spineway (FRA:37S) is currently considered Possible Value Trap. The stock's GF Value™ is €197.72, compared to a current price of €0.11 — trading 99.9% below its estimated fair value. The current Gross Margin % is 105.24%, which is 44% above median its 10-year median of 73.28 and 102.6% above the Medical Devices & Instruments industry median of 51.94. Spineway's overall GF Score™ is 46/100 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 Spineway (FRA:37S), the current Gross Margin % is 105.24% 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 Spineway (FRA:37S) Overvalued in 2026?
Based on GuruFocus' analysis, Spineway stock appears to be undervalued.
The current stock price of €0.11 is trading 99.9% below its estimated GF Value™ of €197.72.
GuruFocus considers Spineway to be Possible Value Trap.
Key valuation signals for FRA:37S:
Gross Margin %: 105.24% (44% above median its 10-year median of 73.28)
GF Value™: €197.72 vs. price of €0.11 (99.9% below fair value)
Industry Position: 102.6% above the Medical Devices & Instruments median (#131 of 805)
No single metric tells the full story. See the FRA:37S stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spineway designs produce and markets implant lines and ancillary surgical equipment used for the treatment of severe disorders of the spinal column. The group offers spinal systems, cervical and lumbar cages, cervical plates, bone substitutes, and other such medical instruments.
46GF Score
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