First GenFSGCY 56 Gross Margin % is 48.63% as of Mar. 2026, which is 35% above its 10-year median of 36.08. GuruFocus rates FSGCY with a GF Score™ of 56/100 and a GF Value™ of $2.05 (Significantly Overvalued). The stock has 9 warning signs investors should review. Among 403 Utilities - Independent Power Producers companies, First Gen ranks better than 73.2% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. First Gen's Gross Profit for the
three
months ended in Mar. 2026 was $121.9 Mil. First Gen's Revenue for the
three
months ended in Mar. 2026 was $250.6 Mil. Therefore, First Gen's Gross Margin % for the quarter that ended in Mar. 2026 was 48.63%.
The historical rank and industry rank for First Gen's Gross Margin % or its related term are showing as below:
FSGCY'
s Gross Margin % Range Over the Past 10 Years
Min: 28.11 Med: 36.08 Max: 51.44
Current: 51.44
During the past 13 years, the highestGross Margin % of First Gen was 51.44%. The lowest was 28.11%. And the median was 36.08%.
First Gen had a gross margin of 48.63% for the quarter that ended in Mar. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for First Gen was 4.20% per year.
First Gen (OTCPK:FSGCY) 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
First Gen had a gross margin of 48.63% 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.
First Gen Gross Margin % Related Terms
First Gen Gross Margin % Historical Data
* Premium members only.
The historical data trend for First Gen'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 Utilities - Renewable subindustry, First Gen'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.
First Gen Gross Margin % vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, First Gen's Gross Margin % distribution charts can be found below:
* The bar in red indicates where First Gen'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.
First Gen (FSGCY) has a Gross Margin % of 48.63% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on First Gen and its competitors. This is 35% above median its historical median of 36.08. Over the past decade, First Gen's Gross Margin % has ranged from 28.11 to 51.44. According to the industry distribution chart, First Gen ranks #108 out of 403 companies in the Utilities - Independent Power Producers industry, placing it in the top 26.8%.
Is First Gen's Gross Margin % too high?
First Gen's current Gross Margin % of 48.63% is 35% above median its 10-year median of 36.08. Over the past 10 years, this metric has ranged from a low of 28.11 to a high of 51.44. The Utilities - Independent Power Producers industry median Gross Margin % is 31.35. First Gen's value of 48.63% is 55.1% above this industry median. Based on the distribution chart, First Gen ranks #108 out of 403 companies in the Utilities - Independent Power Producers industry, which is above the industry midpoint. Overall, First Gen has a GF Score™ of 56/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does First Gen's Gross Margin % compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, First Gen ranks #108 out of 403 companies for Gross Margin %. This puts First Gen in the upper half of its industry. The industry median Gross Margin % is 31.35. First Gen's value of 48.63% is 55.1% above this benchmark. Historically, First Gen's own Gross Margin % has ranged from 28.11 to 51.44 over the past decade. While the company's 10-year median is 36.08 vs. the industry median of 31.35, First Gen 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 Utilities - Independent Power Producers company?
The median Gross Margin % among Utilities - Independent Power Producers companies is 31.35, based on 403 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. First Gen's current Gross Margin % of 48.63% is 55.1% 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 First Gen and its competitors. For the Utilities - Independent Power Producers industry, the median Gross Margin % is 31.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Gen's current Gross Margin % is 48.63%, which is 35% above median its own 10-year median of 36.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Gen stock overvalued right now?
Based on GuruFocus' analysis, First Gen (FSGCY) is currently considered Significantly Overvalued. The stock's GF Value™ is $2.05, compared to a current price of $5.35 — trading 161% above its estimated fair value. The current Gross Margin % is 48.63%, which is 35% above median its 10-year median of 36.08 and 55.1% above the Utilities - Independent Power Producers industry median of 31.35. First Gen's overall GF Score™ is 56/100 with 9 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 First Gen (FSGCY), the current Gross Margin % is 48.63% 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.
Is First Gen (FSGCY) Overvalued in 2026?
Based on GuruFocus' analysis, First Gen stock appears to be overvalued.
The current stock price of $5.35 is trading 161% above its estimated GF Value™ of $2.05.
GuruFocus considers First Gen to be Significantly Overvalued.
Key valuation signals for FSGCY:
Gross Margin %: 48.63% (35% above median its 10-year median of 36.08)
GF Value™: $2.05 vs. price of $5.35 (161% above fair value)
Industry Position: 55.1% above the Utilities - Independent Power Producers median (#108 of 403)
No single metric tells the full story. See the FSGCY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First Gen Corp is an independent electric utility company operating in the Philippines. First Gen develops, finances, builds, bids for, and operate power generation projects. The company generates a amount of Filipino energy needs through its portfolio of natural gas, wind, solar, hydro, and geothermal power plants located in the country. Majority of the power generated by First Gen is produced through natural gas and geothermal fuel sources. It operates in six segments: FGPC, FGP, EDC and Subsidiaries, FGEN LNG, FNPC, and Prime Meridian. The company only operates in Philippines.
56GF Score
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