Northcoders GroupLSE:CODE 39 Gross Margin % is 36.43% as of Dec. 2025, which is 47% below its 10-year median of 68.67. GuruFocus rates LSE:CODE with a GF Score™ of 39/100 and a GF Value™ of £0.97 (Possible Value Trap). The stock has 7 warning signs investors should review. Among 242 Education companies, Northcoders Group ranks better than 70.66% on this metric.
Northcoders Group PLC gross margin has been in long-term decline. The average rate of decline per year is -2.6%.
The historical rank and industry rank for Northcoders Group's Gross Margin % or its related term are showing as below:
LSE:CODE'
s Gross Margin % Range Over the Past 10 Years
Min: 59.05 Med: 68.67 Max: 89.86
Current: 59.05
During the past 8 years, the highestGross Margin % of Northcoders Group was 89.86%. The lowest was 59.05%. And the median was 68.67%.
LSE:CODE's Gross Margin % is ranked better than 70.66% of 242
companies
in the Education industry
Industry Median: 47.76
vs LSE:CODE: 59.05
Northcoders Group had a gross margin of 36.43% for the quarter that ended in Dec. 2025 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for Northcoders Group was -2.60% per year.
Northcoders Group (LSE:CODE) 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
Northcoders Group had a gross margin of 36.43% 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.
Northcoders Group Gross Margin % Related Terms
Northcoders Group Gross Margin % Historical Data
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The historical data trend for Northcoders 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.
LSE:CODE vs EDU, TAL, GHC: Gross Margin % Comparison
For the Education & Training Services subindustry, Northcoders 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.
Northcoders Group Gross Margin % vs Education Industry
For the Education industry and Consumer Defensive sector, Northcoders Group's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Northcoders 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.
Northcoders Group (LSE:CODE) has a Gross Margin % of 36.43% as of Dec. 2025. Gross margin is the ratio of total gross profit to net sales. View historical data on Northcoders Group and its competitors. This is 47% below median its historical median of 68.67. Over the past decade, Northcoders Group's Gross Margin % has ranged from 59.05 to 89.86. According to the industry distribution chart, Northcoders Group ranks #71 out of 242 companies in the Education industry, placing it in the top 29.3%.
Is Northcoders Group's Gross Margin % too high?
Northcoders Group's current Gross Margin % of 36.43% is 47% below median its 10-year median of 68.67. Over the past 10 years, this metric has ranged from a low of 59.05 to a high of 89.86. The Education industry median Gross Margin % is 47.76. Northcoders Group's value of 36.43% is 23.7% below this industry median. Based on the distribution chart, Northcoders Group ranks #71 out of 242 companies in the Education industry, which is above the industry midpoint. Overall, Northcoders Group has a GF Score™ of 39/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Northcoders Group's Gross Margin % compare to EDU and TAL?
According to the Education industry distribution chart, Northcoders Group ranks #71 out of 242 companies for Gross Margin %. This puts Northcoders Group in the upper half of its industry. The industry median Gross Margin % is 47.76. Northcoders Group's value of 36.43% is 23.7% below this benchmark. Historically, Northcoders Group's own Gross Margin % has ranged from 59.05 to 89.86 over the past decade. While the company's 10-year median is 68.67 vs. the industry median of 47.76, Northcoders Group 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 an Education company?
The median Gross Margin % among Education companies is 47.76, based on 242 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. Northcoders Group's current Gross Margin % of 36.43% is 23.7% 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 Northcoders Group and its competitors. For the Education industry, the median Gross Margin % is 47.76 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Northcoders Group's current Gross Margin % is 36.43%, which is 47% below median its own 10-year median of 68.67. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Northcoders Group stock overvalued right now?
Based on GuruFocus' analysis, Northcoders Group (LSE:CODE) is currently considered Possible Value Trap. The stock's GF Value™ is £0.97, compared to a current price of £0.26 — trading 73.7% below its estimated fair value. The current Gross Margin % is 36.43%, which is 47% below median its 10-year median of 68.67 and 23.7% below the Education industry median of 47.76. Northcoders Group's overall GF Score™ is 39/100 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 Northcoders Group (LSE:CODE), the current Gross Margin % is 36.43% 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 Northcoders Group (LSE:CODE) Overvalued in 2026?
Based on GuruFocus' analysis, Northcoders Group stock appears to be undervalued.
The current stock price of £0.26 is trading 73.7% below its estimated GF Value™ of £0.97.
GuruFocus considers Northcoders Group to be Possible Value Trap.
Key valuation signals for LSE:CODE:
Gross Margin %: 36.43% (47% below median its 10-year median of 68.67)
GF Value™: £0.97 vs. price of £0.26 (73.7% below fair value)
Industry Position: 23.7% below the Education median (#71 of 242)
No single metric tells the full story. See the LSE:CODE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Northcoders Group PLC is an independent provider of training programs for software coding. It offers a range of training and software development solutions to individual and corporate customers. Its offering includes bootcamp training courses, government-funded apprenticeships, bespoke training courses, and software development solutions.
39GF Score
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