GrendeneBSP:GRND3 +0.78%65 Net Margin % is 20.61% as of Mar. 2026, which is 22% below its 10-year median of 26.29. GuruFocus rates BSP:GRND3 with a GF Score™ of 65/100 and a GF Value™ of R$6.47 (Significantly Undervalued). The stock has 7 warning signs investors should review. Among 1,042 Manufacturing - Apparel & Accessories companies, Grendene ranks better than 96.93% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Grendene's Net Income for the
three
months ended in Mar. 2026 was R$102 Mil. Grendene's Revenue for the
three
months ended in Mar. 2026 was R$496 Mil. Therefore, Grendene's net margin for the quarter that ended in Mar. 2026 was 20.61%.
The historical rank and industry rank for Grendene's Net Margin % or its related term are showing as below:
BSP:GRND3'
s Net Margin % Range Over the Past 10 Years
Min: 21.36 Med: 26.29 Max: 39.56
Current: 27.23
BSP:GRND3's Net Margin % is ranked better than 96.93% of 1042
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 2.62
vs BSP:GRND3: 27.23
Grendene (BSP:GRND3) Net Margin % Explanation
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.
Grendene Net Margin % Related Terms
Grendene Net Margin % Historical Data
* Premium members only.
The historical data trend for Grendene'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.
BSP:GRND3 vs NKE, DECK, ONON: Net Margin % Comparison
For the Footwear & Accessories subindustry, Grendene'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.
Grendene Net Margin % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Grendene's Net Margin % distribution charts can be found below:
* The bar in red indicates where Grendene'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.
Grendene (BSP:GRND3) has a Net Margin % of 20.61% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Grendene and its competitors. This is 22% below median its historical median of 26.29. Over the past decade, Grendene's Net Margin % has ranged from 21.36 to 39.56. According to the industry distribution chart, Grendene ranks #32 out of 1042 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 3.1%.
Is Grendene's Net Margin % too high?
Grendene's current Net Margin % of 20.61% is 22% below median its 10-year median of 26.29. Over the past 10 years, this metric has ranged from a low of 21.36 to a high of 39.56. The Manufacturing - Apparel & Accessories industry median Net Margin % is 2.62. Grendene's value of 20.61% is 686.6% above this industry median. Based on the distribution chart, Grendene ranks #32 out of 1042 companies in the Manufacturing - Apparel & Accessories industry, which is in the top quartile — a strong position relative to peers. Overall, Grendene has a GF Score™ of 65/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Grendene's Net Margin % compare to NKE and DECK?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Grendene ranks #32 out of 1042 companies for Net Margin %. This places Grendene in the top 3% of its industry — outperforming the majority of peers. The industry median Net Margin % is 2.62. Grendene's value of 20.61% is 686.6% above this benchmark. Historically, Grendene's own Net Margin % has ranged from 21.36 to 39.56 over the past decade. While the company's 10-year median is 26.29 vs. the industry median of 2.62, Grendene 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 a Manufacturing - Apparel & Accessories company?
The median Net Margin % among Manufacturing - Apparel & Accessories companies is 2.62, based on 1,042 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. Grendene's current Net Margin % of 20.61% is 686.6% 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 Grendene and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Net Margin % is 2.62 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Grendene's current Net Margin % is 20.61%, which is 22% below median its own 10-year median of 26.29. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Grendene stock overvalued right now?
Based on GuruFocus' analysis, Grendene (BSP:GRND3) is currently considered Significantly Undervalued. The stock's GF Value™ is R$6.47, compared to a current price of R$3.86 — trading 40.3% below its estimated fair value. The current Net Margin % is 20.61%, which is 22% below median its 10-year median of 26.29 and 686.6% above the Manufacturing - Apparel & Accessories industry median of 2.62. Grendene's overall GF Score™ is 65/100 with 7 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 Grendene (BSP:GRND3), the current Net Margin % is 20.61% 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 Grendene (BSP:GRND3) Overvalued in 2026?
Based on GuruFocus' analysis, Grendene stock appears to be undervalued.
The current stock price of R$3.86 is trading 40.3% below its estimated GF Value™ of R$6.47.
GuruFocus considers Grendene to be Significantly Undervalued.
Key valuation signals for BSP:GRND3:
Net Margin %: 20.61% (22% below median its 10-year median of 26.29)
GF Value™: R$6.47 vs. price of R$3.86 (40.3% below fair value)
Industry Position: 686.6% above the Manufacturing - Apparel & Accessories median (#32 of 1042)
No single metric tells the full story. See the BSP:GRND3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Grendene SA is engaged in the development, production, distribution, and sale of plastic footwear for all the socio-economic classes, in the women's, men's, and children's market segments. It also has its stores, franchises, and web commerce channels, operating under the brands Melissa, Grendha, Zaxy, Rider, Cartago, Grendene Kids, and Ipanema. It also owns the brands Pega Forte and Nuar. Geographically, the company operates in Brazil, North America, Asia and Oceania, Europe, Central and South America, and the Middle East and Africa, out of which a majority of its revenue comes from Brazil.
65GF Score
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