AtenorFRA:Z5S -3.23%39 Gross Margin % is -7.84% as of Dec. 2025. GuruFocus rates FRA:Z5S with a GF Score™ of 39/100 and a GF Value™ of €1.76 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,645 Real Estate companies, Atenor ranks worse than 95.5% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Atenor's Gross Profit for the
six
months ended in Dec. 2025 was €-7.6 Mil. Atenor's Revenue for the
six
months ended in Dec. 2025 was €97.4 Mil. Therefore, Atenor's Gross Margin % for the quarter that ended in Dec. 2025 was -7.84%.
The historical rank and industry rank for Atenor's Gross Margin % or its related term are showing as below:
FRA:Z5S'
s Gross Margin % Range Over the Past 10 Years
Min: -2.98 Med: 22.77 Max: 42.3
Current: -2.98
During the past 13 years, the highestGross Margin % of Atenor was 42.30%. The lowest was -2.98%. And the median was 22.77%.
FRA:Z5S's Gross Margin % is ranked worse than 95.5% of 1645
companies
in the Real Estate industry
Industry Median: 36.98
vs FRA:Z5S: -2.98
Atenor had a gross margin of -7.84% for the quarter that ended in Dec. 2025 => No sustainable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Atenor was 0.00% per year.
Atenor (FRA:Z5S) 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
Atenor had a gross margin of -7.84% for the quarter that ended in Dec. 2025 => No sustainable 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.
Atenor Gross Margin % Related Terms
Atenor Gross Margin % Historical Data
* Premium members only.
The historical data trend for Atenor'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.
For the Real Estate - Development subindustry, Atenor'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.
Atenor Gross Margin % vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Atenor's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Atenor'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.
Atenor (FRA:Z5S) has a Gross Margin % of -7.84% as of Dec. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on Atenor and its competitors. According to the industry distribution chart, Atenor ranks #1571 out of 1645 companies in the Real Estate industry, placing it in the top 95.5%.
Is Atenor's Gross Margin % too high?
Atenor's current Gross Margin % is -7.84%. Based on the distribution chart, Atenor ranks #1571 out of 1645 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Atenor has a GF Score™ of 39/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Atenor's Gross Margin % compare to competitors?
According to the Real Estate industry distribution chart, Atenor ranks #1571 out of 1645 companies for Gross Margin %. This places Atenor in the lower half of its industry. The industry median Gross Margin % is 36.98. 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 Real Estate company?
The median Gross Margin % among Real Estate companies is 36.98, based on 1,645 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. 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 Atenor and its competitors. For the Real Estate industry, the median Gross Margin % is 36.98 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Atenor's current Gross Margin % is -7.84%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Atenor stock overvalued right now?
Based on GuruFocus' analysis, Atenor (FRA:Z5S) is currently considered Modestly Undervalued. The stock's GF Value™ is €1.76, compared to a current price of €1.50 — trading 14.8% below its estimated fair value. The current Gross Margin % is -7.84%. Atenor's overall GF Score™ is 39/100 with 3 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 Atenor (FRA:Z5S), the current Gross Margin % is -7.84% 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 Atenor (FRA:Z5S) Overvalued in 2026?
Based on GuruFocus' analysis, Atenor stock appears to be undervalued.
The current stock price of €1.50 is trading 14.8% below its estimated GF Value™ of €1.76.
GuruFocus considers Atenor to be Modestly Undervalued.
Key valuation signals for FRA:Z5S:
Gross Margin %: -7.84%
GF Value™: €1.76 vs. price of €1.50 (14.8% below fair value)
No single metric tells the full story. See the FRA:Z5S stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Atenor SA is a Belgium-based real estate development company engaged in the business activity of developing real estate projects. Its project portfolio comprises offices, mixed-use, and residential complexes. The company's projects include Up-Site, Hermes Business Campus, Vaci Greens, Victor, Trebel, and South City Hotel. The group operates in Belgium, the Grand Duchy of Luxembourg, Hungary, and Romania.
39GF Score
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