MeituanMEX:3690N 74 Gross Margin % is 28.53% as of Mar. 2026, which is 10% below its 10-year median of 31.79. GuruFocus rates MEX:3690N with a GF Score™ of 74/100 and a GF Value™ of MXN518.92. The stock has 3 warning signs investors should review. Among 1,117 Retail - Cyclical companies, Meituan ranks worse than 65.53% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Meituan's Gross Profit for the
three
months ended in Mar. 2026 was MXN67,949 Mil. Meituan's Revenue for the
three
months ended in Mar. 2026 was MXN238,197 Mil. Therefore, Meituan's Gross Margin % for the quarter that ended in Mar. 2026 was 28.53%.
The historical rank and industry rank for Meituan's Gross Margin % or its related term are showing as below:
MEX:3690N'
s Gross Margin % Range Over the Past 10 Years
Min: 23.16 Med: 31.79 Max: 45.74
Current: 28.31
During the past 11 years, the highestGross Margin % of Meituan was 45.74%. The lowest was 23.16%. And the median was 31.79%.
MEX:3690N's Gross Margin % is ranked worse than 65.53% of 1117
companies
in the Retail - Cyclical industry
Industry Median: 36.23
vs MEX:3690N: 28.31
Meituan had a gross margin of 28.53% for the quarter that ended in Mar. 2026 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for Meituan was 5.30% per year.
Meituan (MEX:3690N) 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
Meituan had a gross margin of 28.53% for the quarter that ended in Mar. 2026 => 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.
Meituan Gross Margin % Related Terms
Meituan Gross Margin % Historical Data
* Premium members only.
The historical data trend for Meituan'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.
MEX:3690N vs AMZN, BABA, PDD: Gross Margin % Comparison
For the Internet Retail subindustry, Meituan'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.
Meituan Gross Margin % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Meituan's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Meituan'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.
Meituan (MEX:3690N) has a Gross Margin % of 28.53% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Meituan and its competitors. This is 10% below median its historical median of 31.79. Over the past decade, Meituan's Gross Margin % has ranged from 23.16 to 45.74. According to the industry distribution chart, Meituan ranks #732 out of 1117 companies in the Retail - Cyclical industry, placing it in the top 65.5%.
Is Meituan's Gross Margin % too high?
Meituan's current Gross Margin % of 28.53% is 10% below median its 10-year median of 31.79. Over the past 10 years, this metric has ranged from a low of 23.16 to a high of 45.74. The Retail - Cyclical industry median Gross Margin % is 36.23. Meituan's value of 28.53% is 21.3% below this industry median. Based on the distribution chart, Meituan ranks #732 out of 1117 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, Meituan has a GF Score™ of 74/100, reflecting its overall financial health beyond just this single metric.
How does Meituan's Gross Margin % compare to AMZN and BABA?
According to the Retail - Cyclical industry distribution chart, Meituan ranks #732 out of 1117 companies for Gross Margin %. This places Meituan in the lower half of its industry. The industry median Gross Margin % is 36.23. Meituan's value of 28.53% is 21.3% below this benchmark. Historically, Meituan's own Gross Margin % has ranged from 23.16 to 45.74 over the past decade. While the company's 10-year median is 31.79 vs. the industry median of 36.23, Meituan 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 Retail - Cyclical company?
The median Gross Margin % among Retail - Cyclical companies is 36.23, based on 1,117 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. Meituan's current Gross Margin % of 28.53% is 21.3% 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 Meituan and its competitors. For the Retail - Cyclical industry, the median Gross Margin % is 36.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Meituan's current Gross Margin % is 28.53%, which is 10% below median its own 10-year median of 31.79. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Meituan stock overvalued right now?
Meituan (MEX:3690N) has a current Gross Margin % of 28.53%. The stock's GF Value™ is MXN518.92, compared to a current price of MXN155.57 — trading 70% below its estimated fair value. The current Gross Margin % is 28.53%, which is 10% below median its 10-year median of 31.79 and 21.3% below the Retail - Cyclical industry median of 36.23. Meituan's overall GF Score™ is 74/100 with 3 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 Meituan (MEX:3690N), the current Gross Margin % is 28.53% 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 Meituan (MEX:3690N) Overvalued in 2026?
Based on GuruFocus' analysis, Meituan stock appears to be undervalued.
The current stock price of MXN155.57 is trading 70% below its estimated GF Value™ of MXN518.92.
Key valuation signals for MEX:3690N:
Gross Margin %: 28.53% (10% below median its 10-year median of 31.79)
GF Value™: MXN518.92 vs. price of MXN155.57 (70% below fair value)
Industry Position: 21.3% below the Retail - Cyclical median (#732 of 1117)
No single metric tells the full story. See the MEX:3690N stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Despite intense competition, Meituan remains the largest food delivery platform in China as of April 2026, according to our estimates. In 2025, the firm generated 72% of its revenue from the core local commerce segment, which includes on-demand food delivery and retail, in-store services (such as visiting beauty and entertainment stores after purchasing deals on Meituan), and hotel and travel booking. The remaining revenue came from the new initiatives segment, such as the community group purchase business Meituan Select and the overseas food delivery business.
74GF Score
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