TharisaLSE:THS 73 Net Margin % is 12.98% as of Mar. 2026, which is 9% above its 10-year median of 11.87. GuruFocus rates LSE:THS with a GF Score™ of 73/100 and a GF Value™ of £0.87 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 843 Metals & Mining companies, Tharisa ranks better than 72.84% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Tharisa's Net Income for the
six
months ended in Mar. 2026 was £35.0 Mil. Tharisa's Revenue for the
six
months ended in Mar. 2026 was £269.5 Mil. Therefore, Tharisa's net margin for the quarter that ended in Mar. 2026 was 12.98%.
The historical rank and industry rank for Tharisa's Net Margin % or its related term are showing as below:
LSE:THS'
s Net Margin % Range Over the Past 10 Years
Min: 3.1 Med: 11.87 Max: 22.43
Current: 15.87
LSE:THS's Net Margin % is ranked better than 72.84% of 843
companies
in the Metals & Mining industry
Industry Median: 3.41
vs LSE:THS: 15.87
Tharisa (LSE:THS) 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.
Tharisa Net Margin % Related Terms
Tharisa Net Margin % Historical Data
* Premium members only.
The historical data trend for Tharisa'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 Other Precious Metals & Mining subindustry, Tharisa'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.
Tharisa Net Margin % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Tharisa's Net Margin % distribution charts can be found below:
* The bar in red indicates where Tharisa'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.
Tharisa (LSE:THS) has a Net Margin % of 12.98% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Tharisa and its competitors. This is near median its historical median of 11.87. Over the past decade, Tharisa's Net Margin % has ranged from 3.10 to 22.43. According to the industry distribution chart, Tharisa ranks #229 out of 843 companies in the Metals & Mining industry, placing it in the top 27.2%.
Is Tharisa's Net Margin % too high?
Tharisa's current Net Margin % of 12.98% is near median its 10-year median of 11.87. Over the past 10 years, this metric has ranged from a low of 3.10 to a high of 22.43. The Metals & Mining industry median Net Margin % is 3.41. Tharisa's value of 12.98% is 280.6% above this industry median. Based on the distribution chart, Tharisa ranks #229 out of 843 companies in the Metals & Mining industry, which is above the industry midpoint. Overall, Tharisa has a GF Score™ of 73/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tharisa's Net Margin % compare to HL?
According to the Metals & Mining industry distribution chart, Tharisa ranks #229 out of 843 companies for Net Margin %. This puts Tharisa in the upper half of its industry. The industry median Net Margin % is 3.41. Tharisa's value of 12.98% is 280.6% above this benchmark. Historically, Tharisa's own Net Margin % has ranged from 3.10 to 22.43 over the past decade. While the company's 10-year median is 11.87 vs. the industry median of 3.41, Tharisa 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 Metals & Mining company?
The median Net Margin % among Metals & Mining companies is 3.41, based on 843 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. Tharisa's current Net Margin % of 12.98% is 280.6% 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 Tharisa and its competitors. For the Metals & Mining industry, the median Net Margin % is 3.41 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tharisa's current Net Margin % is 12.98%, which is near median its own 10-year median of 11.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tharisa stock overvalued right now?
Based on GuruFocus' analysis, Tharisa (LSE:THS) is currently considered Modestly Overvalued. The stock's GF Value™ is £0.87, compared to a current price of £1.13 — trading 29.9% above its estimated fair value. The current Net Margin % is 12.98%, which is near median its 10-year median of 11.87 and 280.6% above the Metals & Mining industry median of 3.41. Tharisa's overall GF Score™ is 73/100 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 Tharisa (LSE:THS), the current Net Margin % is 12.98% 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 Tharisa (LSE:THS) Overvalued in 2026?
Based on GuruFocus' analysis, Tharisa stock appears to be overvalued.
The current stock price of £1.13 is trading 29.9% above its estimated GF Value™ of £0.87.
GuruFocus considers Tharisa to be Modestly Overvalued.
Key valuation signals for LSE:THS:
Net Margin %: 12.98% (near median its 10-year median of 11.87)
GF Value™: £0.87 vs. price of £1.13 (29.9% above fair value)
Industry Position: 280.6% above the Metals & Mining median (#229 of 843)
No single metric tells the full story. See the LSE:THS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tharisa PLC is an investment holding company. The company, along with its subsidiaries, is engaged in the exploitation of metals and minerals, principally PGMs and chrome and associated sales and logistics operations. It incorporates mining, processing, exploration, and the beneficiation, marketing, sales, and logistics of PGMs and chrome concentrates, using innovation and technology as enablers. The company operates through the following four segments: PGM segment, Chrome segment, Agency and trading segment, and Manufacturing segment. The majority of the revenue is derived from the Chrome segment. Geographically, it generates the maximum revenue from South Africa.
73GF Score
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