United BreweriesNSE:UBL -0.90%74 Gross Margin % is 45.53% as of Mar. 2026, which is 2% below its 10-year median of 46.64. GuruFocus rates NSE:UBL with a GF Score™ of 74/100 and a GF Value™ of ₹2,162.59 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 205 Beverages - Alcoholic companies, United Breweries ranks better than 56.59% on this metric.
United Breweries Ltd gross margin has been in long-term decline. The average rate of decline per year is -1.8%.
The historical rank and industry rank for United Breweries's Gross Margin % or its related term are showing as below:
NSE:UBL'
s Gross Margin % Range Over the Past 10 Years
Min: 38.62 Med: 46.64 Max: 49.76
Current: 44.05
During the past 13 years, the highestGross Margin % of United Breweries was 49.76%. The lowest was 38.62%. And the median was 46.64%.
NSE:UBL's Gross Margin % is ranked better than 56.59% of 205
companies
in the Beverages - Alcoholic industry
Industry Median: 42.2
vs NSE:UBL: 44.05
United Breweries had a gross margin of 45.53% for the quarter that ended in Mar. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for United Breweries was -1.80% per year.
United Breweries (NSE:UBL) 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
United Breweries had a gross margin of 45.53% 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.
United Breweries Gross Margin % Related Terms
United Breweries Gross Margin % Historical Data
* Premium members only.
The historical data trend for United Breweries'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.
NSE:UBL vs BUD, STZ, TAP: Gross Margin % Comparison
For the Beverages - Brewers subindustry, United Breweries'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.
United Breweries Gross Margin % vs Beverages - Alcoholic Industry
For the Beverages - Alcoholic industry and Consumer Defensive sector, United Breweries's Gross Margin % distribution charts can be found below:
* The bar in red indicates where United Breweries'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.
United Breweries (NSE:UBL) has a Gross Margin % of 45.53% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on United Breweries and its competitors. This is near median its historical median of 46.64. Over the past decade, United Breweries' Gross Margin % has ranged from 38.62 to 49.76. According to the industry distribution chart, United Breweries ranks #89 out of 205 companies in the Beverages - Alcoholic industry, placing it in the top 43.4%.
Is United Breweries' Gross Margin % too high?
United Breweries' current Gross Margin % of 45.53% is near median its 10-year median of 46.64. Over the past 10 years, this metric has ranged from a low of 38.62 to a high of 49.76. The Beverages - Alcoholic industry median Gross Margin % is 42.20. United Breweries' value of 45.53% is 7.9% above this industry median. Based on the distribution chart, United Breweries ranks #89 out of 205 companies in the Beverages - Alcoholic industry, which is above the industry midpoint. Overall, United Breweries has a GF Score™ of 74/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does United Breweries' Gross Margin % compare to BUD and STZ?
According to the Beverages - Alcoholic industry distribution chart, United Breweries ranks #89 out of 205 companies for Gross Margin %. This puts United Breweries in the upper half of its industry. The industry median Gross Margin % is 42.20. United Breweries' value of 45.53% is 7.9% above this benchmark. Historically, United Breweries' own Gross Margin % has ranged from 38.62 to 49.76 over the past decade. While the company's 10-year median is 46.64 vs. the industry median of 42.20, United Breweries 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 Beverages - Alcoholic company?
The median Gross Margin % among Beverages - Alcoholic companies is 42.20, based on 205 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. United Breweries's current Gross Margin % of 45.53% is 7.9% 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 United Breweries and its competitors. For the Beverages - Alcoholic industry, the median Gross Margin % is 42.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. United Breweries's current Gross Margin % is 45.53%, which is near median its own 10-year median of 46.64. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is United Breweries stock overvalued right now?
Based on GuruFocus' analysis, United Breweries (NSE:UBL) is currently considered Significantly Undervalued. The stock's GF Value™ is ₹2,162.59, compared to a current price of ₹1,345.00 — trading 37.8% below its estimated fair value. The current Gross Margin % is 45.53%, which is near median its 10-year median of 46.64 and 7.9% above the Beverages - Alcoholic industry median of 42.20. United Breweries' overall GF Score™ is 74/100 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 United Breweries (NSE:UBL), the current Gross Margin % is 45.53% 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 United Breweries (NSE:UBL) Overvalued in 2026?
Based on GuruFocus' analysis, United Breweries stock appears to be undervalued.
The current stock price of ₹1,345.00 is trading 37.8% below its estimated GF Value™ of ₹2,162.59.
GuruFocus considers United Breweries to be Significantly Undervalued.
Key valuation signals for NSE:UBL:
Gross Margin %: 45.53% (near median its 10-year median of 46.64)
GF Value™: ₹2,162.59 vs. price of ₹1,345.00 (37.8% below fair value)
Industry Position: 7.9% above the Beverages - Alcoholic median (#89 of 205)
No single metric tells the full story. See the NSE:UBL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
United Breweries Ltd brews and sells beer and flavored malt beverages in India. The company has dozens of production facilities in India, and it licenses its brands to be manufactured in the United Kingdom, Australia, and New Zealand. The company's flagship brand is Kingfisher, which is prominent in India and is sold in dozens of countries around the world. It has two segments Beer and Non-alcoholic beverages. It derives the majority of its revenue from the Beer segment. The company's other brands include Bullet, Cannon 10000, Kalyani, UB Export, Zingaro, London Pilsner, and Heineken among others. Geographically, it derives key revenue from its business in India and the rest from other regions.
74GF Score
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