SPCG PCLBKK:SPCG 65 Net Margin % is 26.78% as of Mar. 2026, which is 40% below its 10-year median of 44.32. GuruFocus rates BKK:SPCG with a GF Score™ of 65/100 and a GF Value™ of ฿6.00 (Significantly Overvalued). The stock has 8 warning signs investors should review. Among 421 Utilities - Independent Power Producers companies, SPCG PCL ranks better than 80.76% on this metric.
Net margin is calculated as Net Income divided by its Revenue. SPCG PCL's Net Income for the
three
months ended in Mar. 2026 was ฿112 Mil. SPCG PCL's Revenue for the
three
months ended in Mar. 2026 was ฿420 Mil. Therefore, SPCG PCL's net margin for the quarter that ended in Mar. 2026 was 26.78%.
The historical rank and industry rank for SPCG PCL's Net Margin % or its related term are showing as below:
BKK:SPCG'
s Net Margin % Range Over the Past 10 Years
Min: 21.91 Med: 44.32 Max: 55.52
Current: 21.91
Although Net Income and Earnings-per-Share (EPS) are the most widely used parameter in measuring a company's profitability and valuation, it is the least reliable. The reason is that reported earnings can be manipulated easily by adjusting any numbers such as Depreciation, Depletion and Amotorization and non-recurring items.
But the long term trend of the net margin is a good indicator of the competitiveness and health of the business.
SPCG PCL Net Margin % Related Terms
SPCG PCL Net Margin % Historical Data
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The historical data trend for SPCG PCL's Net 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.
For the Utilities - Renewable subindustry, SPCG PCL's Net Margin %, along with its competitors' market caps and Net 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.
SPCG PCL Net Margin % vs Utilities - Independent Power Producers Industry
For the Utilities - Independent Power Producers industry and Utilities sector, SPCG PCL's Net Margin % distribution charts can be found below:
* The bar in red indicates where SPCG PCL's Net 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.
SPCG PCL (BKK:SPCG) has a Net Margin % of 26.78% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on SPCG PCL and its competitors. This is 40% below median its historical median of 44.32. Over the past decade, SPCG PCL's Net Margin % has ranged from 21.91 to 55.52. According to the industry distribution chart, SPCG PCL ranks #81 out of 421 companies in the Utilities - Independent Power Producers industry, placing it in the top 19.2%.
Is SPCG PCL's Net Margin % too high?
SPCG PCL's current Net Margin % of 26.78% is 40% below median its 10-year median of 44.32. Over the past 10 years, this metric has ranged from a low of 21.91 to a high of 55.52. The Utilities - Independent Power Producers industry median Net Margin % is 6.17. SPCG PCL's value of 26.78% is 334% above this industry median. Based on the distribution chart, SPCG PCL ranks #81 out of 421 companies in the Utilities - Independent Power Producers industry, which is in the top quartile — a strong position relative to peers. Overall, SPCG PCL has a GF Score™ of 65/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does SPCG PCL's Net Margin % compare to competitors?
According to the Utilities - Independent Power Producers industry distribution chart, SPCG PCL ranks #81 out of 421 companies for Net Margin %. This places SPCG PCL in the top 19% of its industry — outperforming the majority of peers. The industry median Net Margin % is 6.17. SPCG PCL's value of 26.78% is 334% above this benchmark. Historically, SPCG PCL's own Net Margin % has ranged from 21.91 to 55.52 over the past decade. While the company's 10-year median is 44.32 vs. the industry median of 6.17, SPCG PCL 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 Net Margin % for an Utilities - Independent Power Producers company?
The median Net Margin % among Utilities - Independent Power Producers companies is 6.17, based on 421 companies in the industry. Companies in the top quartile (top 25%) have a Net Margin % significantly above this median, while those in the bottom quartile fall well below. However, Net Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. SPCG PCL's current Net Margin % of 26.78% is 334% 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 Net Margin % mean?
A high Net Margin % can signal that a stock is expensive relative to its fundamentals. Net margin is the ratio of total net income to net sales. View historical data on SPCG PCL and its competitors. For the Utilities - Independent Power Producers industry, the median Net Margin % is 6.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. SPCG PCL's current Net Margin % is 26.78%, which is 40% below median its own 10-year median of 44.32. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SPCG PCL stock overvalued right now?
Based on GuruFocus' analysis, SPCG PCL (BKK:SPCG) is currently considered Significantly Overvalued. The stock's GF Value™ is ฿6.00, compared to a current price of ฿8.85 — trading 47.5% above its estimated fair value. The current Net Margin % is 26.78%, which is 40% below median its 10-year median of 44.32 and 334% above the Utilities - Independent Power Producers industry median of 6.17. SPCG PCL's overall GF Score™ is 65/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Margin % calculated?
Net Margin % is calculated from a company's financial statements. For SPCG PCL (BKK:SPCG), the current Net Margin % is 26.78% 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 SPCG PCL (BKK:SPCG) Overvalued in 2026?
Based on GuruFocus' analysis, SPCG PCL stock appears to be overvalued.
The current stock price of ฿8.85 is trading 47.5% above its estimated GF Value™ of ฿6.00.
GuruFocus considers SPCG PCL to be Significantly Overvalued.
Key valuation signals for BKK:SPCG:
Net Margin %: 26.78% (40% below median its 10-year median of 44.32)
GF Value™: ฿6.00 vs. price of ฿8.85 (47.5% above fair value)
Industry Position: 334% above the Utilities - Independent Power Producers median (#81 of 421)
No single metric tells the full story. See the BKK:SPCG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
SPCG PCL is a holding company. The principal activities and reportable segments of the group are one production and distribution of electricity from solar energy, second the manufacture, trading, and installation service of roof sheets and solar roof, and Others. The majority of revenue is generated from the Production and distribution of electricity from solar energy.
65GF Score
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