Monex GroupFRA:NNL +1.20%53 Gross Margin % is 97.79% as of Dec. 2025, which is 2% below its 10-year median of 99.85. GuruFocus rates FRA:NNL with a GF Score™ of 53/100 and a GF Value™ of €4.31. The stock has 7 warning signs investors should review. Among 620 Capital Markets companies, Monex Group ranks better than 94.68% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Monex Group's Gross Profit for the
three
months ended in Dec. 2025 was €119.2 Mil. Monex Group's Revenue for the
three
months ended in Dec. 2025 was €121.9 Mil. Therefore, Monex Group's Gross Margin % for the quarter that ended in Dec. 2025 was 97.79%.
The historical rank and industry rank for Monex Group's Gross Margin % or its related term are showing as below:
FRA:NNL'
s Gross Margin % Range Over the Past 10 Years
Min: 97.99 Med: 99.85 Max: 99.97
Current: 97.99
During the past 13 years, the highestGross Margin % of Monex Group was 99.97%. The lowest was 97.99%. And the median was 99.85%.
FRA:NNL's Gross Margin % is ranked better than 94.68% of 620
companies
in the Capital Markets industry
Industry Median: 49.63
vs FRA:NNL: 97.99
Monex Group had a gross margin of 97.79% for the quarter that ended in Dec. 2025 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Monex Group was 0.00% per year.
Monex Group (FRA:NNL) 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
Monex Group had a gross margin of 97.79% 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.
Monex Group Gross Margin % Related Terms
Monex Group Gross Margin % Historical Data
* Premium members only.
The historical data trend for Monex Group'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:NNL vs MS, GS, SCHW: Gross Margin % Comparison
For the Capital Markets subindustry, Monex Group'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.
Monex Group Gross Margin % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Monex Group's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Monex Group'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.
Monex Group (FRA:NNL) has a Gross Margin % of 97.79% as of Dec. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on Monex Group and its competitors. This is near median its historical median of 99.85. Over the past decade, Monex Group's Gross Margin % has ranged from 97.99 to 99.97. According to the industry distribution chart, Monex Group ranks #33 out of 620 companies in the Capital Markets industry, placing it in the top 5.3%.
Is Monex Group's Gross Margin % too high?
Monex Group's current Gross Margin % of 97.79% is near median its 10-year median of 99.85. Over the past 10 years, this metric has ranged from a low of 97.99 to a high of 99.97. The Capital Markets industry median Gross Margin % is 49.63. Monex Group's value of 97.79% is 97% above this industry median. Based on the distribution chart, Monex Group ranks #33 out of 620 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Monex Group has a GF Score™ of 53/100, reflecting its overall financial health beyond just this single metric.
How does Monex Group's Gross Margin % compare to MS and GS?
According to the Capital Markets industry distribution chart, Monex Group ranks #33 out of 620 companies for Gross Margin %. This places Monex Group in the top 5% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 49.63. Monex Group's value of 97.79% is 97% above this benchmark. Historically, Monex Group's own Gross Margin % has ranged from 97.99 to 99.97 over the past decade. While the company's 10-year median is 99.85 vs. the industry median of 49.63, Monex Group 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 Capital Markets company?
The median Gross Margin % among Capital Markets companies is 49.63, based on 620 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. Monex Group's current Gross Margin % of 97.79% is 97% 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 Monex Group and its competitors. For the Capital Markets industry, the median Gross Margin % is 49.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Monex Group's current Gross Margin % is 97.79%, which is near median its own 10-year median of 99.85. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Monex Group stock overvalued right now?
Monex Group (FRA:NNL) has a current Gross Margin % of 97.79%. The stock's GF Value™ is €4.31, compared to a current price of €3.36 — trading 22% below its estimated fair value. The current Gross Margin % is 97.79%, which is near median its 10-year median of 99.85 and 97% above the Capital Markets industry median of 49.63. Monex Group's overall GF Score™ is 53/100 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 Monex Group (FRA:NNL), the current Gross Margin % is 97.79% 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 Monex Group (FRA:NNL) Overvalued in 2026?
Based on GuruFocus' analysis, Monex Group stock appears to be undervalued.
The current stock price of €3.36 is trading 22% below its estimated GF Value™ of €4.31.
Key valuation signals for FRA:NNL:
Gross Margin %: 97.79% (near median its 10-year median of 99.85)
GF Value™: €4.31 vs. price of €3.36 (22% below fair value)
Industry Position: 97% above the Capital Markets median (#33 of 620)
No single metric tells the full story. See the FRA:NNL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Monex Group Inc is functional in the financial services domain of Japan. Its core business is that of securities trading. Operating in the capital markets industry, the company renders such services as online securities business, the foreign exchange (FX) trading business, as well as the provision of merger and acquisition (M&A) advisory services. Most of its revenue is in the form of brokerage derived from its capital market activities majorly in Japan and on a minor scale in the United States and China.
53GF Score
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