Ninety OneFRA:L91 -1.71%74 Net Margin % is 18.90% as of Mar. 2026, which is 11% below its 10-year median of 21.33. GuruFocus rates FRA:L91 with a GF Score™ of 74/100 and a GF Value™ of €2.10. The stock has 7 warning signs investors should review. Among 1,579 Asset Management companies, Ninety One ranks worse than 72.07% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Ninety One's Net Income for the
six
months ended in Mar. 2026 was €88.6 Mil. Ninety One's Revenue for the
six
months ended in Mar. 2026 was €468.7 Mil. Therefore, Ninety One's net margin for the quarter that ended in Mar. 2026 was 18.90%.
The historical rank and industry rank for Ninety One's Net Margin % or its related term are showing as below:
FRA:L91'
s Net Margin % Range Over the Past 10 Years
Min: 20 Med: 21.33 Max: 25.82
Current: 20.14
FRA:L91's Net Margin % is ranked worse than 72.07% of 1579
companies
in the Asset Management industry
Industry Median: 84.88
vs FRA:L91: 20.14
Ninety One (FRA:L91) 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.
Ninety One Net Margin % Related Terms
Ninety One Net Margin % Historical Data
* Premium members only.
The historical data trend for Ninety One'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 Asset Management subindustry, Ninety One'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.
Ninety One Net Margin % vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Ninety One's Net Margin % distribution charts can be found below:
* The bar in red indicates where Ninety One'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.
Ninety One (FRA:L91) has a Net Margin % of 18.90% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Ninety One and its competitors. This is 11% below median its historical median of 21.33. Over the past decade, Ninety One's Net Margin % has ranged from 20.00 to 25.82. According to the industry distribution chart, Ninety One ranks #1138 out of 1579 companies in the Asset Management industry, placing it in the top 72.1%.
Is Ninety One's Net Margin % too high?
Ninety One's current Net Margin % of 18.90% is 11% below median its 10-year median of 21.33. Over the past 10 years, this metric has ranged from a low of 20.00 to a high of 25.82. The Asset Management industry median Net Margin % is 84.88. Ninety One's value of 18.90% is 77.7% below this industry median. Based on the distribution chart, Ninety One ranks #1138 out of 1579 companies in the Asset Management industry, which is below the industry midpoint. Overall, Ninety One has a GF Score™ of 74/100, reflecting its overall financial health beyond just this single metric.
How does Ninety One's Net Margin % compare to BLK and BX?
According to the Asset Management industry distribution chart, Ninety One ranks #1138 out of 1579 companies for Net Margin %. This places Ninety One in the lower half of its industry. The industry median Net Margin % is 84.88. Ninety One's value of 18.90% is 77.7% below this benchmark. Historically, Ninety One's own Net Margin % has ranged from 20.00 to 25.82 over the past decade. While the company's 10-year median is 21.33 vs. the industry median of 84.88, Ninety One 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 Net Margin % for an Asset Management company?
The median Net Margin % among Asset Management companies is 84.88, based on 1,579 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. Ninety One's current Net Margin % of 18.90% is 77.7% 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 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 Ninety One and its competitors. For the Asset Management industry, the median Net Margin % is 84.88 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ninety One's current Net Margin % is 18.90%, which is 11% below median its own 10-year median of 21.33. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ninety One stock overvalued right now?
Ninety One (FRA:L91) has a current Net Margin % of 18.90%. The stock's GF Value™ is €2.10, compared to a current price of €2.30 — trading 9.5% above its estimated fair value. The current Net Margin % is 18.90%, which is 11% below median its 10-year median of 21.33 and 77.7% below the Asset Management industry median of 84.88. Ninety One's overall GF Score™ is 74/100 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 Ninety One (FRA:L91), the current Net Margin % is 18.90% 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 Ninety One (FRA:L91) Overvalued in 2026?
Based on GuruFocus' analysis, Ninety One stock appears to be overvalued.
The current stock price of €2.30 is trading 9.5% above its estimated GF Value™ of €2.10.
Key valuation signals for FRA:L91:
Net Margin %: 18.90% (11% below median its 10-year median of 21.33)
GF Value™: €2.10 vs. price of €2.30 (9.5% above fair value)
Industry Position: 77.7% below the Asset Management median (#1138 of 1579)
No single metric tells the full story. See the FRA:L91 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ninety One Ltd is an asset manager. The company provides a range of differentiated strategies managed by its specialist investment teams, providing access to a diverse range of asset classes and regions. It serves its client base via five regional teams namely Africa, the United Kingdom, Asia Pacific, the Americas and Europe and across two distribution channels Institutional and Advisor. Institutional clients include private and public sector pension funds, sovereign wealth funds, insurers, corporates, foundations and central banks, while Advisor clients include large retail groups, wealth managers, private banks and intermediaries serving individual investors.
74GF Score
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