TSI Holdings CoTSE:3608 -1.62%83 Gross Margin % is 52.12% as of Feb. 2026, which is 4% below its 10-year median of 54.25. GuruFocus rates TSE:3608 with a GF Score™ of 83/100 and a GF Value™ of 円1,311.92 (Modestly Undervalued). The stock has 3 warning signs investors should review. Among 1,024 Manufacturing - Apparel & Accessories companies, TSI Holdings Co ranks better than 82.03% on this metric.
The historical rank and industry rank for TSI Holdings Co's Gross Margin % or its related term are showing as below:
TSE:3608'
s Gross Margin % Range Over the Past 10 Years
Min: 47.62 Med: 54.25 Max: 54.97
Current: 54.74
During the past 13 years, the highestGross Margin % of TSI Holdings Co was 54.97%. The lowest was 47.62%. And the median was 54.25%.
TSE:3608's Gross Margin % is ranked better than 82.03% of 1024
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 28.415
vs TSE:3608: 54.74
TSI Holdings Co had a gross margin of 52.12% for the quarter that ended in Feb. 2026 => Durable competitive advantage
The 5-Year average Growth Rate of Gross Margin for TSI Holdings Co was 1.80% per year.
TSI Holdings Co (TSE:3608) 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
TSI Holdings Co had a gross margin of 52.12% for the quarter that ended in Feb. 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.
TSI Holdings Co Gross Margin % Related Terms
TSI Holdings Co Gross Margin % Historical Data
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The historical data trend for TSI Holdings Co'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.
TSE:3608 vs RL, LEVI, VFC: Gross Margin % Comparison
For the Apparel Manufacturing subindustry, TSI Holdings Co'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.
TSI Holdings Co Gross Margin % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, TSI Holdings Co's Gross Margin % distribution charts can be found below:
* The bar in red indicates where TSI Holdings Co'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.
TSI Holdings Co (TSE:3608) has a Gross Margin % of 52.12% as of Feb. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on TSI Holdings Co and its competitors. This is near median its historical median of 54.25. Over the past decade, TSI Holdings Co's Gross Margin % has ranged from 47.62 to 54.97. According to the industry distribution chart, TSI Holdings Co ranks #184 out of 1024 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 18%.
Is TSI Holdings Co's Gross Margin % too high?
TSI Holdings Co's current Gross Margin % of 52.12% is near median its 10-year median of 54.25. Over the past 10 years, this metric has ranged from a low of 47.62 to a high of 54.97. The Manufacturing - Apparel & Accessories industry median Gross Margin % is 28.42. TSI Holdings Co's value of 52.12% is 83.4% above this industry median. Based on the distribution chart, TSI Holdings Co ranks #184 out of 1024 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, TSI Holdings Co has a GF Score™ of 83/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does TSI Holdings Co's Gross Margin % compare to RL and LEVI?
According to the Manufacturing - Apparel & Accessories industry distribution chart, TSI Holdings Co ranks #184 out of 1024 companies for Gross Margin %. This places TSI Holdings Co in the top 18% of its industry — outperforming the majority of peers. The industry median Gross Margin % is 28.42. TSI Holdings Co's value of 52.12% is 83.4% above this benchmark. Historically, TSI Holdings Co's own Gross Margin % has ranged from 47.62 to 54.97 over the past decade. While the company's 10-year median is 54.25 vs. the industry median of 28.42, TSI Holdings Co 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 Manufacturing - Apparel & Accessories company?
The median Gross Margin % among Manufacturing - Apparel & Accessories companies is 28.42, based on 1,024 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. TSI Holdings Co's current Gross Margin % of 52.12% is 83.4% 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 TSI Holdings Co and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Gross Margin % is 28.42 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TSI Holdings Co's current Gross Margin % is 52.12%, which is near median its own 10-year median of 54.25. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TSI Holdings Co stock overvalued right now?
Based on GuruFocus' analysis, TSI Holdings Co (TSE:3608) is currently considered Modestly Undervalued. The stock's GF Value™ is 円1,311.92, compared to a current price of 円1,155.00 — trading 12% below its estimated fair value. The current Gross Margin % is 52.12%, which is near median its 10-year median of 54.25 and 83.4% above the Manufacturing - Apparel & Accessories industry median of 28.42. TSI Holdings Co's overall GF Score™ is 83/100 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 TSI Holdings Co (TSE:3608), the current Gross Margin % is 52.12% as of Feb. 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 TSI Holdings Co (TSE:3608) Overvalued in 2026?
Based on GuruFocus' analysis, TSI Holdings Co stock appears to be undervalued.
The current stock price of 円1,155.00 is trading 12% below its estimated GF Value™ of 円1,311.92.
GuruFocus considers TSI Holdings Co to be Modestly Undervalued.
Key valuation signals for TSE:3608:
Gross Margin %: 52.12% (near median its 10-year median of 54.25)
GF Value™: 円1,311.92 vs. price of 円1,155.00 (12% below fair value)
Industry Position: 83.4% above the Manufacturing - Apparel & Accessories median (#184 of 1024)
No single metric tells the full story. See the TSE:3608 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TSI Holdings Co Ltd is an apparel manufacturer that owns and licenses dozens of brands that it sells through department stores, other retail stores and shopping centers, and e-commerce channels. The majority of the company's sales are in Japan, with the remainder coming from China and other parts of Asia. TSI's highest-selling brands, which collectively account for more than half of the company's total revenue, include nano, Natural Beauty Basic, Margaret Howell, Pearly Gates, Rose Bud, Stussy, Proportion Body Dressing, Free's Mart, Human Woman, and Callaway Apparel.
83GF Score
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