First Property GroupLSE:FPO -1.82%45 Gross Margin % is 63.32% as of Mar. 2026, which is 7% below its 10-year median of 67.91. GuruFocus rates LSE:FPO with a GF Score™ of 45/100 and a GF Value™ of £0.16 (Modestly Undervalued). The stock has 4 warning signs investors should review. Among 1,646 Real Estate companies, First Property Group ranks better than 77.89% on this metric.
The historical rank and industry rank for First Property Group's Gross Margin % or its related term are showing as below:
LSE:FPO'
s Gross Margin % Range Over the Past 10 Years
Min: 63.27 Med: 67.91 Max: 78.6
Current: 66.96
During the past 13 years, the highestGross Margin % of First Property Group was 78.60%. The lowest was 63.27%. And the median was 67.91%.
LSE:FPO's Gross Margin % is ranked better than 77.89% of 1646
companies
in the Real Estate industry
Industry Median: 36.96
vs LSE:FPO: 66.96
First Property Group had a gross margin of 63.32% for the quarter that ended in Mar. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for First Property Group was -0.30% per year.
First Property Group (LSE:FPO) 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 Property Group had a gross margin of 63.32% 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 Property Group Gross Margin % Related Terms
First Property Group Gross Margin % Historical Data
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The historical data trend for First Property 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:FPO vs CBRE, BEKE, JLL: Gross Margin % Comparison
For the Real Estate Services subindustry, First Property 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.
First Property Group Gross Margin % vs Real Estate Industry
For the Real Estate industry and Real Estate sector, First Property Group's Gross Margin % distribution charts can be found below:
* The bar in red indicates where First Property 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.
First Property Group (LSE:FPO) has a Gross Margin % of 63.32% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on First Property Group and its competitors. This is near median its historical median of 67.91. Over the past decade, First Property Group's Gross Margin % has ranged from 63.27 to 78.60. According to the industry distribution chart, First Property Group ranks #364 out of 1646 companies in the Real Estate industry, placing it in the top 22.1%.
Is First Property Group's Gross Margin % too high?
First Property Group's current Gross Margin % of 63.32% is near median its 10-year median of 67.91. Over the past 10 years, this metric has ranged from a low of 63.27 to a high of 78.60. The Real Estate industry median Gross Margin % is 36.96. First Property Group's value of 63.32% is 71.3% above this industry median. Based on the distribution chart, First Property Group ranks #364 out of 1646 companies in the Real Estate industry, which is in the top quartile — a strong position relative to peers. Overall, First Property Group has a GF Score™ of 45/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does First Property Group's Gross Margin % compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, First Property Group ranks #364 out of 1646 companies for Gross Margin %. This places First Property Group in the top 22% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 36.96. First Property Group's value of 63.32% is 71.3% above this benchmark. Historically, First Property Group's own Gross Margin % has ranged from 63.27 to 78.60 over the past decade. While the company's 10-year median is 67.91 vs. the industry median of 36.96, First Property Group 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 a Real Estate company?
The median Gross Margin % among Real Estate companies is 36.96, based on 1,646 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 Property Group's current Gross Margin % of 63.32% is 71.3% 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 Property Group and its competitors. For the Real Estate industry, the median Gross Margin % is 36.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. First Property Group's current Gross Margin % is 63.32%, which is near median its own 10-year median of 67.91. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is First Property Group stock overvalued right now?
Based on GuruFocus' analysis, First Property Group (LSE:FPO) is currently considered Modestly Undervalued. The stock's GF Value™ is £0.16, compared to a current price of £0.14 — trading 15.6% below its estimated fair value. The current Gross Margin % is 63.32%, which is near median its 10-year median of 67.91 and 71.3% above the Real Estate industry median of 36.96. First Property Group's overall GF Score™ is 45/100 with 4 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 Property Group (LSE:FPO), the current Gross Margin % is 63.32% 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 Property Group (LSE:FPO) Overvalued in 2026?
Based on GuruFocus' analysis, First Property Group stock appears to be undervalued.
The current stock price of £0.14 is trading 15.6% below its estimated GF Value™ of £0.16.
GuruFocus considers First Property Group to be Modestly Undervalued.
Key valuation signals for LSE:FPO:
Gross Margin %: 63.32% (near median its 10-year median of 67.91)
GF Value™: £0.16 vs. price of £0.14 (15.6% below fair value)
Industry Position: 71.3% above the Real Estate median (#364 of 1646)
No single metric tells the full story. See the LSE:FPO stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
First Property Group PLC is a property fund manager and investor with operations in the United Kingdom and Central Europe mainly in Poland. The company is organized into three segments including Property Fund Management, Group Properties, and the Associates and Investments. It generates the majority of its revenue from the Group Properties segment. The Group Properties segment comprises the revenues and profits from its trading in its properties including rental and service charge income from the properties owned by the company.
45GF Score
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