Enapter AGHAM:H2O -1.26%55 Gross Margin % is 36.78% as of Dec. 2025, which is 38% below its 10-year median of 58.89. GuruFocus rates HAM:H2O with a GF Score™ of 55/100 and a GF Value™ of €3.64 (Possible Value Trap). The stock has 8 warning signs investors should review. Among 2,996 Industrial Products companies, Enapter AG ranks better than 79.87% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Enapter AG's Gross Profit for the
six
months ended in Dec. 2025 was €6.05 Mil. Enapter AG's Revenue for the
six
months ended in Dec. 2025 was €16.46 Mil. Therefore, Enapter AG's Gross Margin % for the quarter that ended in Dec. 2025 was 36.78%.
Warning Sign:
Enapter AG gross margin has been in long-term decline. The average rate of decline per year is -13.2%.
The historical rank and industry rank for Enapter AG's Gross Margin % or its related term are showing as below:
HAM:H2O'
s Gross Margin % Range Over the Past 10 Years
Min: 40.95 Med: 58.89 Max: 106.28
Current: 40.96
During the past 10 years, the highestGross Margin % of Enapter AG was 106.28%. The lowest was 40.95%. And the median was 58.89%.
HAM:H2O's Gross Margin % is ranked better than 79.87% of 2996
companies
in the Industrial Products industry
Industry Median: 26.8
vs HAM:H2O: 40.96
Enapter AG had a gross margin of 36.78% for the quarter that ended in Dec. 2025 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for Enapter AG was -13.20% per year.
Enapter AG (HAM:H2O) 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
Enapter AG had a gross margin of 36.78% for the quarter that ended in Dec. 2025 => Competition eroding margins
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.
Enapter AG Gross Margin % Related Terms
Enapter AG Gross Margin % Historical Data
* Premium members only.
The historical data trend for Enapter AG'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.
HAM:H2O vs GEV, ETN, PH: Gross Margin % Comparison
For the Specialty Industrial Machinery subindustry, Enapter AG'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.
Enapter AG Gross Margin % vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, Enapter AG's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Enapter AG'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.
Enapter AG (HAM:H2O) has a Gross Margin % of 36.78% as of Dec. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on Enapter AG and its competitors. This is 38% below median its historical median of 58.89. Over the past decade, Enapter AG's Gross Margin % has ranged from 40.95 to 106.28. According to the industry distribution chart, Enapter AG ranks #603 out of 2996 companies in the Industrial Products industry, placing it in the top 20.1%.
Is Enapter AG's Gross Margin % too high?
Enapter AG's current Gross Margin % of 36.78% is 38% below median its 10-year median of 58.89. Over the past 10 years, this metric has ranged from a low of 40.95 to a high of 106.28. The Industrial Products industry median Gross Margin % is 26.80. Enapter AG's value of 36.78% is 37.2% above this industry median. Based on the distribution chart, Enapter AG ranks #603 out of 2996 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, Enapter AG has a GF Score™ of 55/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Enapter AG's Gross Margin % compare to GEV and ETN?
According to the Industrial Products industry distribution chart, Enapter AG ranks #603 out of 2996 companies for Gross Margin %. This places Enapter AG in the top 20% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 26.80. Enapter AG's value of 36.78% is 37.2% above this benchmark. Historically, Enapter AG's own Gross Margin % has ranged from 40.95 to 106.28 over the past decade. While the company's 10-year median is 58.89 vs. the industry median of 26.80, Enapter AG 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 Industrial Products company?
The median Gross Margin % among Industrial Products companies is 26.80, based on 2,996 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. Enapter AG's current Gross Margin % of 36.78% is 37.2% 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 Enapter AG and its competitors. For the Industrial Products industry, the median Gross Margin % is 26.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Enapter AG's current Gross Margin % is 36.78%, which is 38% below median its own 10-year median of 58.89. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Enapter AG stock overvalued right now?
Based on GuruFocus' analysis, Enapter AG (HAM:H2O) is currently considered Possible Value Trap. The stock's GF Value™ is €3.64, compared to a current price of €1.18 — trading 67.6% below its estimated fair value. The current Gross Margin % is 36.78%, which is 38% below median its 10-year median of 58.89 and 37.2% above the Industrial Products industry median of 26.80. Enapter AG's overall GF Score™ is 55/100 with 8 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 Enapter AG (HAM:H2O), the current Gross Margin % is 36.78% 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 Enapter AG (HAM:H2O) Overvalued in 2026?
Based on GuruFocus' analysis, Enapter AG stock appears to be undervalued.
The current stock price of €1.18 is trading 67.6% below its estimated GF Value™ of €3.64.
GuruFocus considers Enapter AG to be Possible Value Trap.
Key valuation signals for HAM:H2O:
Gross Margin %: 36.78% (38% below median its 10-year median of 58.89)
GF Value™: €3.64 vs. price of €1.18 (67.6% below fair value)
Industry Position: 37.2% above the Industrial Products median (#603 of 2996)
No single metric tells the full story. See the HAM:H2O stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Enapter AG is engaged in research and development in the field of hydrogen systems with a focus on electrolysis, project management in Renewable Energy Systems and Smart-Grid Technology, software development for Smart Grid, Smart Energy and Industry 4.0 and Internet of Things (IoT), and manufacturing and production, design, planning, trading and resale of electrolysers and similar products and related software and control systems. Specifically, the Enapter Group develops and manufactures patented electrolysers based on Anion Exchange Membrane (AEM) technology. the Group had only one reportable segment which is the design and production of hydrogen generators based on patented anion exchange membrane electrolysis (AEM electrolysis) and pursues.
55GF Score
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