Ninety OneFRA:L91 74 Gross Margin % is 58.71% as of Mar. 2026, which is 15% above its 10-year median of 51.06. GuruFocus rates FRA:L91 with a GF Score™ of 74/100 and a GF Value™ of €2.12. The stock has 7 warning signs investors should review. Among 550 Asset Management companies, Ninety One ranks worse than 54.36% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Ninety One's Gross Profit for the
six
months ended in Mar. 2026 was €275.2 Mil. Ninety One's Revenue for the
six
months ended in Mar. 2026 was €468.7 Mil. Therefore, Ninety One's Gross Margin % for the quarter that ended in Mar. 2026 was 58.71%.
The historical rank and industry rank for Ninety One's Gross Margin % or its related term are showing as below:
FRA:L91'
s Gross Margin % Range Over the Past 10 Years
Min: 42.83 Med: 51.06 Max: 54.13
Current: 53.09
During the past 10 years, the highestGross Margin % of Ninety One was 54.13%. The lowest was 42.83%. And the median was 51.06%.
FRA:L91's Gross Margin % is ranked worse than 54.36% of 550
companies
in the Asset Management industry
Industry Median: 57.9
vs FRA:L91: 53.09
Ninety One had a gross margin of 58.71% for the quarter that ended in Mar. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Ninety One was 1.10% per year.
Ninety One (FRA:L91) 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
Ninety One had a gross margin of 58.71% 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.
Ninety One Gross Margin % Related Terms
Ninety One Gross Margin % Historical Data
* Premium members only.
The historical data trend for Ninety One'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:L91 vs BLK, BX, KKR: Gross Margin % Comparison
For the Asset Management subindustry, Ninety One'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.
Ninety One Gross Margin % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Ninety One's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Ninety One'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.
Ninety One (FRA:L91) has a Gross Margin % of 58.71% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Ninety One and its competitors. This is 15% above median its historical median of 51.06. Over the past decade, Ninety One's Gross Margin % has ranged from 42.83 to 54.13. According to the industry distribution chart, Ninety One ranks #299 out of 550 companies in the Asset Management industry, placing it in the top 54.4%.
Is Ninety One's Gross Margin % too high?
Ninety One's current Gross Margin % of 58.71% is 15% above median its 10-year median of 51.06. Over the past 10 years, this metric has ranged from a low of 42.83 to a high of 54.13. The Asset Management industry median Gross Margin % is 57.90. Ninety One's value of 58.71% is 1.4% above this industry median. Based on the distribution chart, Ninety One ranks #299 out of 550 companies in the Asset Management industry, which is below the industry midpoint. Overall, Ninety One has a GF Score™ of 74/100, reflecting its overall financial health beyond just this single metric.
How does Ninety One's Gross Margin % compare to BLK and BX?
According to the Asset Management industry distribution chart, Ninety One ranks #299 out of 550 companies for Gross Margin %. This places Ninety One in the lower half of its industry. The industry median Gross Margin % is 57.90. Ninety One's value of 58.71% is 1.4% above this benchmark. Historically, Ninety One's own Gross Margin % has ranged from 42.83 to 54.13 over the past decade. While the company's 10-year median is 51.06 vs. the industry median of 57.90, Ninety One 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 an Asset Management company?
The median Gross Margin % among Asset Management companies is 57.90, based on 550 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. Ninety One's current Gross Margin % of 58.71% is 1.4% 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 Ninety One and its competitors. For the Asset Management industry, the median Gross Margin % is 57.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ninety One's current Gross Margin % is 58.71%, which is 15% above median its own 10-year median of 51.06. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ninety One stock overvalued right now?
Ninety One (FRA:L91) has a current Gross Margin % of 58.71%. The stock's GF Value™ is €2.12, compared to a current price of €2.26 — trading 6.6% above its estimated fair value. The current Gross Margin % is 58.71%, which is 15% above median its 10-year median of 51.06 and 1.4% above the Asset Management industry median of 57.90. Ninety One's overall GF Score™ is 74/100 with 7 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 Ninety One (FRA:L91), the current Gross Margin % is 58.71% 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 Ninety One (FRA:L91) Overvalued in 2026?
Based on GuruFocus' analysis, Ninety One stock appears to be overvalued.
The current stock price of €2.26 is trading 6.6% above its estimated GF Value™ of €2.12.
Key valuation signals for FRA:L91:
Gross Margin %: 58.71% (15% above median its 10-year median of 51.06)
GF Value™: €2.12 vs. price of €2.26 (6.6% above fair value)
Industry Position: 1.4% above the Asset Management median (#299 of 550)
No single metric tells the full story. See the FRA:L91 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ninety One Ltd is an asset manager. The company provides a range of differentiated strategies managed by its specialist investment teams, providing access to a diverse range of asset classes and regions. It serves its client base via five regional teams namely Africa, the United Kingdom, Asia Pacific, the Americas and Europe and across two distribution channels Institutional and Advisor. Institutional clients include private and public sector pension funds, sovereign wealth funds, insurers, corporates, foundations and central banks, while Advisor clients include large retail groups, wealth managers, private banks and intermediaries serving individual investors.
74GF Score
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