Oil & Natural GasNSE:ONGC -2.88%88 Net Margin % is 6.23% as of Mar. 2026, which is 5% below its 10-year median of 6.57. GuruFocus rates NSE:ONGC with a GF Score™ of 88/100 and a GF Value™ of ₹268.77 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 916 Oil & Gas companies, Oil & Natural Gas ranks better than 60.37% on this metric.
The historical rank and industry rank for Oil & Natural Gas's Net Margin % or its related term are showing as below:
NSE:ONGC'
s Net Margin % Range Over the Past 10 Years
Min: 2.74 Med: 6.57 Max: 9.3
Current: 6.26
NSE:ONGC's Net Margin % is ranked better than 60.37% of 916
companies
in the Oil & Gas industry
Industry Median: 3.435
vs NSE:ONGC: 6.26
Oil & Natural Gas (NSE:ONGC) 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.
Oil & Natural Gas Net Margin % Related Terms
Oil & Natural Gas Net Margin % Historical Data
* Premium members only.
The historical data trend for Oil & Natural Gas'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 Oil & Gas Integrated subindustry, Oil & Natural Gas'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.
Oil & Natural Gas Net Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Oil & Natural Gas's Net Margin % distribution charts can be found below:
* The bar in red indicates where Oil & Natural Gas'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.
Oil & Natural Gas (NSE:ONGC) has a Net Margin % of 6.23% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Oil & Natural Gas and its competitors. This is near median its historical median of 6.57. Over the past decade, Oil & Natural Gas' Net Margin % has ranged from 2.74 to 9.30. According to the industry distribution chart, Oil & Natural Gas ranks #363 out of 916 companies in the Oil & Gas industry, placing it in the top 39.6%.
Is Oil & Natural Gas' Net Margin % too high?
Oil & Natural Gas' current Net Margin % of 6.23% is near median its 10-year median of 6.57. Over the past 10 years, this metric has ranged from a low of 2.74 to a high of 9.30. The Oil & Gas industry median Net Margin % is 3.44. Oil & Natural Gas' value of 6.23% is 81.4% above this industry median. Based on the distribution chart, Oil & Natural Gas ranks #363 out of 916 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Oil & Natural Gas has a GF Score™ of 88/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Oil & Natural Gas' Net Margin % compare to XOM and CVX?
According to the Oil & Gas industry distribution chart, Oil & Natural Gas ranks #363 out of 916 companies for Net Margin %. This puts Oil & Natural Gas in the upper half of its industry. The industry median Net Margin % is 3.44. Oil & Natural Gas' value of 6.23% is 81.4% above this benchmark. Historically, Oil & Natural Gas' own Net Margin % has ranged from 2.74 to 9.30 over the past decade. While the company's 10-year median is 6.57 vs. the industry median of 3.44, Oil & Natural Gas 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 an Oil & Gas company?
The median Net Margin % among Oil & Gas companies is 3.44, based on 916 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. Oil & Natural Gas's current Net Margin % of 6.23% is 81.4% 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 Oil & Natural Gas and its competitors. For the Oil & Gas industry, the median Net Margin % is 3.44 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Oil & Natural Gas's current Net Margin % is 6.23%, which is near median its own 10-year median of 6.57. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Oil & Natural Gas stock overvalued right now?
Based on GuruFocus' analysis, Oil & Natural Gas (NSE:ONGC) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹268.77, compared to a current price of ₹233.10 — trading 13.3% below its estimated fair value. The current Net Margin % is 6.23%, which is near median its 10-year median of 6.57 and 81.4% above the Oil & Gas industry median of 3.44. Oil & Natural Gas' overall GF Score™ is 88/100 with 2 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 Oil & Natural Gas (NSE:ONGC), the current Net Margin % is 6.23% 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 Oil & Natural Gas (NSE:ONGC) Overvalued in 2026?
Based on GuruFocus' analysis, Oil & Natural Gas stock appears to be undervalued.
The current stock price of ₹233.10 is trading 13.3% below its estimated GF Value™ of ₹268.77.
GuruFocus considers Oil & Natural Gas to be Modestly Undervalued.
Key valuation signals for NSE:ONGC:
Net Margin %: 6.23% (near median its 10-year median of 6.57)
GF Value™: ₹268.77 vs. price of ₹233.10 (13.3% below fair value)
Industry Position: 81.4% above the Oil & Gas median (#363 of 916)
No single metric tells the full story. See the NSE:ONGC stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Oil & Natural Gas Corp Ltd is an Indian-based company. It engaged in the exploration, development, and production of crude oil, natural gas, and value-added products. Along with its subsidiaries, the company operates in the following business segments: Refining and Marketing, which derives maximum revenue, Exploration and Production, and Petrochemicals. Geographically, the group derives maximum revenue from India, from its offshore and onshore activities, and is also involved in exploration and production activities outside India.
88GF Score
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