Pandora ASPNDZF 71 Gross Margin % is 79.49% as of Mar. 2026, which is 5% above its 10-year median of 75.86. GuruFocus rates PNDZF with a GF Score™ of 71/100 and a GF Value™ of $174.10 (Significantly Undervalued). The stock has 2 warning signs investors should review. Among 1,113 Retail - Cyclical companies, Pandora AS ranks better than 97.12% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Pandora AS's Gross Profit for the
three
months ended in Mar. 2026 was $874 Mil. Pandora AS's Revenue for the
three
months ended in Mar. 2026 was $1,100 Mil. Therefore, Pandora AS's Gross Margin % for the quarter that ended in Mar. 2026 was 79.49%.
The historical rank and industry rank for Pandora AS's Gross Margin % or its related term are showing as below:
PNDZF'
s Gross Margin % Range Over the Past 10 Years
Min: 72.72 Med: 75.86 Max: 79.83
Current: 78.88
During the past 13 years, the highestGross Margin % of Pandora AS was 79.83%. The lowest was 72.72%. And the median was 75.86%.
PNDZF's Gross Margin % is ranked better than 97.12% of 1113
companies
in the Retail - Cyclical industry
Industry Median: 36.26
vs PNDZF: 78.88
Pandora AS had a gross margin of 79.49% for the quarter that ended in Mar. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for Pandora AS was 1.20% per year.
Pandora AS (OTCPK:PNDZF) 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
Pandora AS had a gross margin of 79.49% 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.
Pandora AS Gross Margin % Related Terms
Pandora AS Gross Margin % Historical Data
* Premium members only.
The historical data trend for Pandora AS'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.
PNDZF vs TPR, SIG, CPRI: Gross Margin % Comparison
For the Luxury Goods subindustry, Pandora AS'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.
Pandora AS Gross Margin % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Pandora AS's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Pandora AS'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.
Pandora AS (PNDZF) has a Gross Margin % of 79.49% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Pandora AS and its competitors. This is near median its historical median of 75.86. Over the past decade, Pandora AS's Gross Margin % has ranged from 72.72 to 79.83. According to the industry distribution chart, Pandora AS ranks #32 out of 1113 companies in the Retail - Cyclical industry, placing it in the top 2.9%.
Is Pandora AS's Gross Margin % too high?
Pandora AS's current Gross Margin % of 79.49% is near median its 10-year median of 75.86. Over the past 10 years, this metric has ranged from a low of 72.72 to a high of 79.83. The Retail - Cyclical industry median Gross Margin % is 36.26. Pandora AS's value of 79.49% is 119.2% above this industry median. Based on the distribution chart, Pandora AS ranks #32 out of 1113 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. Overall, Pandora AS has a GF Score™ of 71/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Pandora AS's Gross Margin % compare to TPR and SIG?
According to the Retail - Cyclical industry distribution chart, Pandora AS ranks #32 out of 1113 companies for Gross Margin %. This places Pandora AS in the top 3% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 36.26. Pandora AS's value of 79.49% is 119.2% above this benchmark. Historically, Pandora AS's own Gross Margin % has ranged from 72.72 to 79.83 over the past decade. While the company's 10-year median is 75.86 vs. the industry median of 36.26, Pandora AS 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 Retail - Cyclical company?
The median Gross Margin % among Retail - Cyclical companies is 36.26, based on 1,113 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. Pandora AS's current Gross Margin % of 79.49% is 119.2% 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 Pandora AS and its competitors. For the Retail - Cyclical industry, the median Gross Margin % is 36.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Pandora AS's current Gross Margin % is 79.49%, which is near median its own 10-year median of 75.86. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Pandora AS stock overvalued right now?
Based on GuruFocus' analysis, Pandora AS (PNDZF) is currently considered Significantly Undervalued. The stock's GF Value™ is $174.10, compared to a current price of $109.00 — trading 37.4% below its estimated fair value. The current Gross Margin % is 79.49%, which is near median its 10-year median of 75.86 and 119.2% above the Retail - Cyclical industry median of 36.26. Pandora AS's overall GF Score™ is 71/100 with 2 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 Pandora AS (PNDZF), the current Gross Margin % is 79.49% 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 Pandora AS (PNDZF) Overvalued in 2026?
Based on GuruFocus' analysis, Pandora AS stock appears to be undervalued.
The current stock price of $109.00 is trading 37.4% below its estimated GF Value™ of $174.10.
GuruFocus considers Pandora AS to be Significantly Undervalued.
Key valuation signals for PNDZF:
Gross Margin %: 79.49% (near median its 10-year median of 75.86)
GF Value™: $174.10 vs. price of $109.00 (37.4% below fair value)
Industry Position: 119.2% above the Retail - Cyclical median (#32 of 1113)
No single metric tells the full story. See the PNDZF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Pandora is a premium jewelry brand and the market leader in the charm bracelet category. The company was established in the 1980s in Denmark and since then has expanded globally. Pandora has over 2,700 concept stores globally (2,000 owned and operated, and the remainder run by its franchise partners) as well as multibrand locations and stores-in-stores. Pandora owned retail accounts for over 80% and wholesale for the remainder. Charms and bracelets account for almost three-fourths of its sales. The firm produces mostly internally in two jewelry-crafting facilities in Thailand.
71GF Score
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