Kernel HoldingWAR:KER -1.13%63 Gross Margin % is 17.87% as of Mar. 2026, which is 19% above its 10-year median of 15.00. GuruFocus rates WAR:KER with a GF Score™ of 63/100 and a GF Value™ of zł13.28 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 303 Retail - Defensive companies, Kernel Holding ranks worse than 75.58% on this metric.
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
Kernel Holding had a gross margin of 17.87% for the quarter that ended in Mar. 2026 => No sustainable 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.
Kernel Holding Gross Margin % Related Terms
Kernel Holding Gross Margin % Historical Data
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The historical data trend for Kernel Holding'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.
WAR:KER vs SYY, USFD, PFGC: Gross Margin % Comparison
For the Food Distribution subindustry, Kernel Holding'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.
Kernel Holding Gross Margin % vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Kernel Holding's Gross Margin % distribution charts can be found below:
* The bar in red indicates where Kernel Holding'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.
Kernel Holding (WAR:KER) has a Gross Margin % of 17.87% as of Mar. 2026. Gross margin is the ratio of total gross profit to net sales. View historical data on Kernel Holding and its competitors. This is 19% above median its historical median of 15.00. Over the past decade, Kernel Holding's Gross Margin % has ranged from 6.59 to 22.99. According to the industry distribution chart, Kernel Holding ranks #229 out of 303 companies in the Retail - Defensive industry, placing it in the top 75.6%.
Is Kernel Holding's Gross Margin % too high?
Kernel Holding's current Gross Margin % of 17.87% is 19% above median its 10-year median of 15.00. Over the past 10 years, this metric has ranged from a low of 6.59 to a high of 22.99. The Retail - Defensive industry median Gross Margin % is 24.08. Kernel Holding's value of 17.87% is 25.8% below this industry median. Based on the distribution chart, Kernel Holding ranks #229 out of 303 companies in the Retail - Defensive industry, which is in the bottom quartile relative to peers. Overall, Kernel Holding has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kernel Holding's Gross Margin % compare to SYY and USFD?
According to the Retail - Defensive industry distribution chart, Kernel Holding ranks #229 out of 303 companies for Gross Margin %. This places Kernel Holding in the lower half of its industry. The industry median Gross Margin % is 24.08. Kernel Holding's value of 17.87% is 25.8% below this benchmark. Historically, Kernel Holding's own Gross Margin % has ranged from 6.59 to 22.99 over the past decade. While the company's 10-year median is 15.00 vs. the industry median of 24.08, Kernel Holding 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 - Defensive company?
The median Gross Margin % among Retail - Defensive companies is 24.08, based on 303 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. Kernel Holding's current Gross Margin % of 17.87% is 25.8% 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 Kernel Holding and its competitors. For the Retail - Defensive industry, the median Gross Margin % is 24.08 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kernel Holding's current Gross Margin % is 17.87%, which is 19% above median its own 10-year median of 15.00. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kernel Holding stock overvalued right now?
Based on GuruFocus' analysis, Kernel Holding (WAR:KER) is currently considered Significantly Overvalued. The stock's GF Value™ is zł13.28, compared to a current price of zł19.22 — trading 44.7% above its estimated fair value. The current Gross Margin % is 17.87%, which is 19% above median its 10-year median of 15.00 and 25.8% below the Retail - Defensive industry median of 24.08. Kernel Holding's overall GF Score™ is 63/100 with 1 warning sign 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 Kernel Holding (WAR:KER), the current Gross Margin % is 17.87% 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 Kernel Holding (WAR:KER) Overvalued in 2026?
Based on GuruFocus' analysis, Kernel Holding stock appears to be overvalued.
The current stock price of zł19.22 is trading 44.7% above its estimated GF Value™ of zł13.28.
GuruFocus considers Kernel Holding to be Significantly Overvalued.
Key valuation signals for WAR:KER:
Gross Margin %: 17.87% (19% above median its 10-year median of 15.00)
GF Value™: zł13.28 vs. price of zł19.22 (44.7% above fair value)
Industry Position: 25.8% below the Retail - Defensive median (#229 of 303)
No single metric tells the full story. See the WAR:KER stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kernel Holding SA is an investment holding company. The company's segment includes Oilseed Processing; Infrastructure and Trading and Farming. It generates maximum revenue from the Infrastructure and Trading segment. The Infrastructure and Trading segment includes sourcing and merchandising of wholesale edible oils, grain, provision of silo services, grain handling and transshipment services.
63GF Score
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