Spar GroupJSE:SPP -3.11%52 Net Margin % is 0.22% as of Mar. 2026, which is 87% below its 10-year median of 1.72. GuruFocus rates JSE:SPP with a GF Score™ of 52/100 and a GF Value™ of R107.89 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 310 Retail - Defensive companies, Spar Group ranks worse than 80.65% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Spar Group's Net Income for the
six
months ended in Mar. 2026 was R147 Mil. Spar Group's Revenue for the
six
months ended in Mar. 2026 was R67,483 Mil. Therefore, Spar Group's net margin for the quarter that ended in Mar. 2026 was 0.22%.
The historical rank and industry rank for Spar Group's Net Margin % or its related term are showing as below:
JSE:SPP'
s Net Margin % Range Over the Past 10 Years
Min: -3.67 Med: 1.72 Max: 2
Current: -0.32
JSE:SPP's Net Margin % is ranked worse than 80.65% of 310
companies
in the Retail - Defensive industry
Industry Median: 2.155
vs JSE:SPP: -0.32
Spar Group (JSE:SPP) 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.
Spar Group Net Margin % Related Terms
Spar Group Net Margin % Historical Data
* Premium members only.
The historical data trend for Spar Group'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.
JSE:SPP vs SYY, USFD, PFGC: Net Margin % Comparison
For the Food Distribution subindustry, Spar Group'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.
Spar Group Net Margin % vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Spar Group's Net Margin % distribution charts can be found below:
* The bar in red indicates where Spar Group'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.
Spar Group (JSE:SPP) has a Net Margin % of 0.22% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Spar Group and its competitors. This is 87% below median its historical median of 1.72. According to the industry distribution chart, Spar Group ranks #250 out of 310 companies in the Retail - Defensive industry, placing it in the top 80.6%.
Is Spar Group's Net Margin % too high?
Spar Group's current Net Margin % of 0.22% is 87% below median its 10-year median of 1.72. The Retail - Defensive industry median Net Margin % is 2.16. Spar Group's value of 0.22% is 89.8% below this industry median. Based on the distribution chart, Spar Group ranks #250 out of 310 companies in the Retail - Defensive industry, which is in the bottom quartile relative to peers. Overall, Spar Group has a GF Score™ of 52/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Spar Group's Net Margin % compare to SYY and USFD?
According to the Retail - Defensive industry distribution chart, Spar Group ranks #250 out of 310 companies for Net Margin %. This places Spar Group in the lower half of its industry. The industry median Net Margin % is 2.16. Spar Group's value of 0.22% is 89.8% below this benchmark. While the company's 10-year median is 1.72 vs. the industry median of 2.16, Spar Group 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 a Retail - Defensive company?
The median Net Margin % among Retail - Defensive companies is 2.16, based on 310 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. Spar Group's current Net Margin % of 0.22% is 89.8% 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 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 Spar Group and its competitors. For the Retail - Defensive industry, the median Net Margin % is 2.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Spar Group's current Net Margin % is 0.22%, which is 87% below median its own 10-year median of 1.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Spar Group stock overvalued right now?
Based on GuruFocus' analysis, Spar Group (JSE:SPP) is currently considered Significantly Undervalued. The stock's GF Value™ is R107.89, compared to a current price of R48.84 — trading 54.7% below its estimated fair value. The current Net Margin % is 0.22%, which is 87% below median its 10-year median of 1.72 and 89.8% below the Retail - Defensive industry median of 2.16. Spar Group's overall GF Score™ is 52/100 with 3 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 Spar Group (JSE:SPP), the current Net Margin % is 0.22% 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 Spar Group (JSE:SPP) Overvalued in 2026?
Based on GuruFocus' analysis, Spar Group stock appears to be undervalued.
The current stock price of R48.84 is trading 54.7% below its estimated GF Value™ of R107.89.
GuruFocus considers Spar Group to be Significantly Undervalued.
Key valuation signals for JSE:SPP:
Net Margin %: 0.22% (87% below median its 10-year median of 1.72)
GF Value™: R107.89 vs. price of R48.84 (54.7% below fair value)
Industry Position: 89.8% below the Retail - Defensive median (#250 of 310)
No single metric tells the full story. See the JSE:SPP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Spar Group Ltd operates as a wholesaler and distributor of goods and services to SPAR grocery stores and multiple other branded group retail outlets across multiple regions. It supplies fresh produce and merchandise to a network of independent retailers who operate under its brands like TOPS at SPAR, Build it, SPAR Health, and Encore. The company's revenue mainly comprise the revenue from the sale of merchandise, marketing and promotional activities as well as franchise fees. Geographically, it has a presence in Southern Africa, Ireland and South West England, Switzerland, Poland and Sri Lanka, with the majority of revenue generated from South Africa.
52GF Score
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