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Hey-SongTPE:1234 +1.04%69 Gross Margin % is 23.95% as of Mar. 2026, which is 14% below its 10-year median of 27.90. GuruFocus rates TPE:1234 with a GF Score™ of 69/100 and a GF Value™ of NT$36.99 (Fairly Valued). The stock has 8 warning signs investors should review. Among 116 Beverages - Non-Alcoholic companies, Hey-Song ranks worse than 77.59% on this metric.
Gross Margin % is calculated as gross profit divided by its revenue. Hey-Song's Gross Profit for the
three
months ended in Mar. 2026 was NT$558 Mil. Hey-Song's Revenue for the
three
months ended in Mar. 2026 was NT$2,328 Mil. Therefore, Hey-Song's Gross Margin % for the quarter that ended in Mar. 2026 was 23.95%.
The historical rank and industry rank for Hey-Song's Gross Margin % or its related term are showing as below:
TPE:1234'
s Gross Margin % Range Over the Past 10 Years
Min: 23.79 Med: 27.9 Max: 29.72
Current: 29.08
During the past 13 years, the highestGross Margin % of Hey-Song was 29.72%. The lowest was 23.79%. And the median was 27.90%.
TPE:1234's Gross Margin % is ranked worse than 77.59% of 116
companies
in the Beverages - Non-Alcoholic industry
Industry Median: 38.35
vs TPE:1234: 29.08
Hey-Song had a gross margin of 23.95% for the quarter that ended in Mar. 2026 => Competition eroding margins
The 5-Year average Growth Rate of Gross Margin for Hey-Song was 0.80% per year.
Hey-Song (TPE:1234) 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
Hey-Song had a gross margin of 23.95% 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.
Hey-Song Gross Margin % Related Terms
Hey-Song Gross Margin % Historical Data
* Premium members only.
The historical data trend for Hey-Song'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.
TPE:1234 vs KO, PEP, MNST: Gross Margin % Comparison
For the Beverages - Non-Alcoholic subindustry, Hey-Song'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.
Hey-Song Gross Margin % vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Hey-Song's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Hey-Song'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.
Hey-Song (TPE:1234) has a Gross Margin % of 23.95% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Hey-Song and its competitors. This is 14% below median its historical median of 27.90. Over the past decade, Hey-Song's Gross Margin % has ranged from 23.79 to 29.72. According to the industry distribution chart, Hey-Song ranks #90 out of 116 companies in the Beverages - Non-Alcoholic industry, placing it in the top 77.6%.
Is Hey-Song's Gross Margin % too high?
Hey-Song's current Gross Margin % of 23.95% is 14% below median its 10-year median of 27.90. Over the past 10 years, this metric has ranged from a low of 23.79 to a high of 29.72. The Beverages - Non-Alcoholic industry median Gross Margin % is 38.35. Hey-Song's value of 23.95% is 37.5% below this industry median. Based on the distribution chart, Hey-Song ranks #90 out of 116 companies in the Beverages - Non-Alcoholic industry, which is in the bottom quartile relative to peers. Overall, Hey-Song has a GF Score™ of 69/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hey-Song's Gross Margin % compare to KO and PEP?
According to the Beverages - Non-Alcoholic industry distribution chart, Hey-Song ranks #90 out of 116 companies for Gross Margin %. This places Hey-Song in the lower half of its industry. The industry median Gross Margin % is 38.35. Hey-Song's value of 23.95% is 37.5% below this benchmark. Historically, Hey-Song's own Gross Margin % has ranged from 23.79 to 29.72 over the past decade. While the company's 10-year median is 27.90 vs. the industry median of 38.35, Hey-Song 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 Beverages - Non-Alcoholic company?
The median Gross Margin % among Beverages - Non-Alcoholic companies is 38.35, based on 116 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. Hey-Song's current Gross Margin % of 23.95% is 37.5% 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 Hey-Song and its competitors. For the Beverages - Non-Alcoholic industry, the median Gross Margin % is 38.35 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hey-Song's current Gross Margin % is 23.95%, which is 14% below median its own 10-year median of 27.90. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hey-Song stock overvalued right now?
Based on GuruFocus' analysis, Hey-Song (TPE:1234) is currently considered Fairly Valued. The stock's GF Value™ is NT$36.99, compared to a current price of NT$34.00 — trading 8.1% below its estimated fair value. The current Gross Margin % is 23.95%, which is 14% below median its 10-year median of 27.90 and 37.5% below the Beverages - Non-Alcoholic industry median of 38.35. Hey-Song's overall GF Score™ is 69/100 with 8 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 Hey-Song (TPE:1234), the current Gross Margin % is 23.95% 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 Hey-Song (TPE:1234) Overvalued in 2026?
Based on GuruFocus' analysis, Hey-Song stock appears to be undervalued.
The current stock price of NT$34.00 is trading 8.1% below its estimated GF Value™ of NT$36.99.
GuruFocus considers Hey-Song to be Fairly Valued.
Key valuation signals for TPE:1234:
Gross Margin %: 23.95% (14% below median its 10-year median of 27.90)
GF Value™: NT$36.99 vs. price of NT$34.00 (8.1% below fair value)
Industry Position: 37.5% below the Beverages - Non-Alcoholic median (#90 of 116)
No single metric tells the full story. See the TPE:1234 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hey-Song Corp is a Taiwanese company engaged in the production and sale of beverages bearing its brand, OEM production and distribution of beverages for other brands, and distribution and sale of domestic and imported liquors. It produces a diversified range of alcoholic and non-alcoholic beverages, including tea, coffee, brandy, wine, whisky, juice, Chinese liquor, and tonic drinks, among others, which are marketed through brands like Black Pine, C&C, Wayne, Kinmen Kaoliang, Hardys, Saint Remy, McLeod, etc. The company's reportable segments are the Beverages business unit-beverages, which generates maximum revenue, the Beverages business unit-liquors, and the Property lease department. Geographically, it generates maximum revenue from Taiwan, followed by China.
69GF Score
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