Zenith BankNSA:ZENITH +0.44%84 Net Margin % is 44.22% as of Mar. 2026, which is 15% above its 10-year median of 38.34. GuruFocus rates NSA:ZENITH with a GF Score™ of 84/100 and a GF Value™ of ₦60.17 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 1,527 Banks companies, Zenith Bank ranks better than 72.76% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Zenith Bank's Net Income for the
three
months ended in Mar. 2026 was ₦313,724 Mil. Zenith Bank's Revenue for the
three
months ended in Mar. 2026 was ₦709,513 Mil. Therefore, Zenith Bank's net margin for the quarter that ended in Mar. 2026 was 44.22%.
The historical rank and industry rank for Zenith Bank's Net Margin % or its related term are showing as below:
NSA:ZENITH'
s Net Margin % Range Over the Past 10 Years
Min: 33.85 Med: 38.34 Max: 42.38
Current: 33.95
NSA:ZENITH's Net Margin % is ranked better than 72.76% of 1527
companies
in the Banks industry
Industry Median: 26.95
vs NSA:ZENITH: 33.95
Zenith Bank (NSA:ZENITH) 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.
Zenith Bank Net Margin % Related Terms
Zenith Bank Net Margin % Historical Data
* Premium members only.
The historical data trend for Zenith Bank'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 Banks - Regional subindustry, Zenith Bank'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.
Zenith Bank Net Margin % vs Banks Industry
For the Banks industry and Financial Services sector, Zenith Bank's Net Margin % distribution charts can be found below:
* The bar in red indicates where Zenith Bank'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.
Zenith Bank (NSA:ZENITH) has a Net Margin % of 44.22% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Zenith Bank and its competitors. This is 15% above median its historical median of 38.34. Over the past decade, Zenith Bank's Net Margin % has ranged from 33.85 to 42.38. According to the industry distribution chart, Zenith Bank ranks #416 out of 1527 companies in the Banks industry, placing it in the top 27.2%.
Is Zenith Bank's Net Margin % too high?
Zenith Bank's current Net Margin % of 44.22% is 15% above median its 10-year median of 38.34. Over the past 10 years, this metric has ranged from a low of 33.85 to a high of 42.38. The Banks industry median Net Margin % is 26.95. Zenith Bank's value of 44.22% is 64.1% above this industry median. Based on the distribution chart, Zenith Bank ranks #416 out of 1527 companies in the Banks industry, which is above the industry midpoint. Overall, Zenith Bank has a GF Score™ of 84/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Zenith Bank's Net Margin % compare to competitors?
According to the Banks industry distribution chart, Zenith Bank ranks #416 out of 1527 companies for Net Margin %. This puts Zenith Bank in the upper half of its industry. The industry median Net Margin % is 26.95. Zenith Bank's value of 44.22% is 64.1% above this benchmark. Historically, Zenith Bank's own Net Margin % has ranged from 33.85 to 42.38 over the past decade. While the company's 10-year median is 38.34 vs. the industry median of 26.95, Zenith Bank 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 Banks company?
The median Net Margin % among Banks companies is 26.95, based on 1,527 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. Zenith Bank's current Net Margin % of 44.22% is 64.1% 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 Zenith Bank and its competitors. For the Banks industry, the median Net Margin % is 26.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zenith Bank's current Net Margin % is 44.22%, which is 15% above median its own 10-year median of 38.34. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zenith Bank stock overvalued right now?
Based on GuruFocus' analysis, Zenith Bank (NSA:ZENITH) is currently considered Significantly Overvalued. The stock's GF Value™ is ₦60.17, compared to a current price of ₦115.00 — trading 91.1% above its estimated fair value. The current Net Margin % is 44.22%, which is 15% above median its 10-year median of 38.34 and 64.1% above the Banks industry median of 26.95. Zenith Bank's overall GF Score™ is 84/100 with 1 warning sign 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 Zenith Bank (NSA:ZENITH), the current Net Margin % is 44.22% 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 Zenith Bank (NSA:ZENITH) Overvalued in 2026?
Based on GuruFocus' analysis, Zenith Bank stock appears to be overvalued.
The current stock price of ₦115.00 is trading 91.1% above its estimated GF Value™ of ₦60.17.
GuruFocus considers Zenith Bank to be Significantly Overvalued.
Key valuation signals for NSA:ZENITH:
Net Margin %: 44.22% (15% above median its 10-year median of 38.34)
GF Value™: ₦60.17 vs. price of ₦115.00 (91.1% above fair value)
Industry Position: 64.1% above the Banks median (#416 of 1527)
No single metric tells the full story. See the NSA:ZENITH stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Zenith Bank PLC is a Nigeria- based company. Its core business is the provision of banking and other financial services to corporate and individual customers. The bank provides services such as granting of loans and advances, corporate finance and money market activities. It also provides banking and pension custodial services to a diverse group of corporations, financial institutions, investment funds, governments and individuals; provision of investment advisory, financial planning services and investment product offerings; providing brokerage services, financing services and securities lending services to institutional clients, including mutual funds, pension funds and to high-net-worth individuals. Revenue generated by bank consists of interest income, fees and commission received.
84GF Score
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Net Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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