SpurJSE:SUR +3.69%89 Gross Margin % is 31.53% as of Dec. 2025, which is 40% below its 10-year median of 52.54. GuruFocus rates JSE:SUR with a GF Score™ of 89/100 and a GF Value™ of R40.46 (Fairly Valued). The stock has 9 warning signs investors should review. Among 353 Restaurants companies, Spur ranks worse than 69.41% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Spur's Gross Profit for the
six
months ended in Dec. 2025 was R688 Mil. Spur's Revenue for the
six
months ended in Dec. 2025 was R2,180 Mil. Therefore, Spur's Gross Margin % for the quarter that ended in Dec. 2025 was 31.53%.
Warning Sign:
Spur Corp Ltd gross margin has been in long-term decline. The average rate of decline per year is -10%.
The historical rank and industry rank for Spur's Gross Margin % or its related term are showing as below:
JSE:SUR'
s Gross Margin % Range Over the Past 10 Years
Min: 28.56 Med: 52.54 Max: 78
Current: 32.47
During the past 13 years, the highestGross Margin % of Spur was 78.00%. The lowest was 28.56%. And the median was 52.54%.
JSE:SUR's Gross Margin % is ranked worse than 69.41% of 353
companies
in the Restaurants industry
Industry Median: 45.66
vs JSE:SUR: 32.47
Spur had a gross margin of 31.53% for the quarter that ended in Dec. 2025 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for Spur was -10.00% per year.
Spur (JSE:SUR) 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
Spur had a gross margin of 31.53% 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.
Spur Gross Margin % Related Terms
Spur Gross Margin % Historical Data
* Premium members only.
The historical data trend for Spur'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.
JSE:SUR vs MCD, SBUX, YUM: Gross Margin % Comparison
For the Restaurants subindustry, Spur'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.
Spur Gross Margin % vs Restaurants Industry
For the Restaurants industry and Consumer Cyclical sector, Spur's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Spur'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.
Spur (JSE:SUR) has a Gross Margin % of 31.53% as of Dec. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on Spur and its competitors. This is 40% below median its historical median of 52.54. Over the past decade, Spur's Gross Margin % has ranged from 28.56 to 78.00. According to the industry distribution chart, Spur ranks #245 out of 353 companies in the Restaurants industry, placing it in the top 69.4%.
Is Spur's Gross Margin % too high?
Spur's current Gross Margin % of 31.53% is 40% below median its 10-year median of 52.54. Over the past 10 years, this metric has ranged from a low of 28.56 to a high of 78.00. The Restaurants industry median Gross Margin % is 45.66. Spur's value of 31.53% is 30.9% below this industry median. Based on the distribution chart, Spur ranks #245 out of 353 companies in the Restaurants industry, which is below the industry midpoint. Overall, Spur has a GF Score™ of 89/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Spur's Gross Margin % compare to MCD and SBUX?
According to the Restaurants industry distribution chart, Spur ranks #245 out of 353 companies for Gross Margin %. This places Spur in the lower half of its industry. The industry median Gross Margin % is 45.66. Spur's value of 31.53% is 30.9% below this benchmark. Historically, Spur's own Gross Margin % has ranged from 28.56 to 78.00 over the past decade. While the company's 10-year median is 52.54 vs. the industry median of 45.66, Spur has consistently been below 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 Restaurants company?
The median Gross Margin % among Restaurants companies is 45.66, based on 353 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. Spur's current Gross Margin % of 31.53% is 30.9% below 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 Spur and its competitors. For the Restaurants industry, the median Gross Margin % is 45.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spur's current Gross Margin % is 31.53%, which is 40% below median its own 10-year median of 52.54. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spur stock overvalued right now?
Based on GuruFocus' analysis, Spur (JSE:SUR) is currently considered Fairly Valued. The stock's GF Value™ is R40.46, compared to a current price of R42.11 — trading 4.1% above its estimated fair value. The current Gross Margin % is 31.53%, which is 40% below median its 10-year median of 52.54 and 30.9% below the Restaurants industry median of 45.66. Spur's overall GF Score™ is 89/100 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 Spur (JSE:SUR), the current Gross Margin % is 31.53% 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 Spur (JSE:SUR) Overvalued in 2026?
Based on GuruFocus' analysis, Spur stock appears to be overvalued.
The current stock price of R42.11 is trading 4.1% above its estimated GF Value™ of R40.46.
GuruFocus considers Spur to be Fairly Valued.
Key valuation signals for JSE:SUR:
Gross Margin %: 31.53% (40% below median its 10-year median of 52.54)
GF Value™: R40.46 vs. price of R42.11 (4.1% above fair value)
Industry Position: 30.9% below the Restaurants median (#245 of 353)
No single metric tells the full story. See the JSE:SUR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spur Corp Ltd is a South African multi-brand restaurant franchisor. The group operates as franchisor for the Spur Steak Ranches, Panarottis Pizza Pasta, John Dory's Fish Grill Sushi, The Hussar Grill, RocoMamas (including RocoGo), Casa Bella, Nikos, Doppio Zero and Piza e Vino brands. The company's segment includes South Africa and International segment. South Africa segment include: Franchise, Manufacturing and distribution, Retail company stores, Marketing and Other. International segment include Australasia, Rest of Africa and Middle East and Marketing. Key revenue is generated from South Africa segment.
89GF Score
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