Change HoldingsTSE:3962 -0.32%74 Net Margin % is 0.49% as of Mar. 2026, which is 96% below its 10-year median of 13.17. GuruFocus rates TSE:3962 with a GF Score™ of 74/100 and a GF Value™ of 円1,861.20 (Significantly Undervalued). The stock has 5 warning signs investors should review. Among 2,827 Software companies, Change Holdings ranks better than 81.5% on this metric.
Net margin is calculated as Net Income divided by its Revenue. Change Holdings's Net Income for the
three
months ended in Mar. 2026 was 円55 Mil. Change Holdings's Revenue for the
three
months ended in Mar. 2026 was 円11,300 Mil. Therefore, Change Holdings's net margin for the quarter that ended in Mar. 2026 was 0.49%.
The historical rank and industry rank for Change Holdings's Net Margin % or its related term are showing as below:
TSE:3962'
s Net Margin % Range Over the Past 10 Years
Min: 7.64 Med: 13.17 Max: 26.22
Current: 13.13
TSE:3962's Net Margin % is ranked better than 81.5% of 2827
companies
in the Software industry
Industry Median: 2.54
vs TSE:3962: 13.13
Change Holdings (TSE:3962) 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.
Change Holdings Net Margin % Related Terms
Change Holdings Net Margin % Historical Data
* Premium members only.
The historical data trend for Change Holdings'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.
TSE:3962 vs IBM, ACN, FISV: Net Margin % Comparison
For the Information Technology Services subindustry, Change Holdings'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.
Change Holdings Net Margin % vs Software Industry
For the Software industry and Technology sector, Change Holdings's Net Margin % distribution charts can be found below:
* The bar in red indicates where Change Holdings'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.
Change Holdings (TSE:3962) has a Net Margin % of 0.49% as of Mar. 2026. Net margin is the ratio of total net income to net sales. View historical data on Change Holdings and its competitors. This is 96% below median its historical median of 13.17. Over the past decade, Change Holdings' Net Margin % has ranged from 7.64 to 26.22. According to the industry distribution chart, Change Holdings ranks #523 out of 2827 companies in the Software industry, placing it in the top 18.5%.
Is Change Holdings' Net Margin % too high?
Change Holdings' current Net Margin % of 0.49% is 96% below median its 10-year median of 13.17. Over the past 10 years, this metric has ranged from a low of 7.64 to a high of 26.22. The Software industry median Net Margin % is 2.54. Change Holdings' value of 0.49% is 80.7% below this industry median. Based on the distribution chart, Change Holdings ranks #523 out of 2827 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Change Holdings has a GF Score™ of 74/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Change Holdings' Net Margin % compare to IBM and ACN?
According to the Software industry distribution chart, Change Holdings ranks #523 out of 2827 companies for Net Margin %. This places Change Holdings in the top 19% of its industry — outperforming the majority of peers. The industry median Net Margin % is 2.54. Change Holdings' value of 0.49% is 80.7% below this benchmark. Historically, Change Holdings' own Net Margin % has ranged from 7.64 to 26.22 over the past decade. While the company's 10-year median is 13.17 vs. the industry median of 2.54, Change Holdings 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 Software company?
The median Net Margin % among Software companies is 2.54, based on 2,827 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. Change Holdings's current Net Margin % of 0.49% is 80.7% 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 Change Holdings and its competitors. For the Software industry, the median Net Margin % is 2.54 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Change Holdings's current Net Margin % is 0.49%, which is 96% below median its own 10-year median of 13.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Change Holdings stock overvalued right now?
Based on GuruFocus' analysis, Change Holdings (TSE:3962) is currently considered Significantly Undervalued. The stock's GF Value™ is 円1,861.20, compared to a current price of 円937.00 — trading 49.7% below its estimated fair value. The current Net Margin % is 0.49%, which is 96% below median its 10-year median of 13.17 and 80.7% below the Software industry median of 2.54. Change Holdings' overall GF Score™ is 74/100 with 5 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 Change Holdings (TSE:3962), the current Net Margin % is 0.49% 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 Change Holdings (TSE:3962) Overvalued in 2026?
Based on GuruFocus' analysis, Change Holdings stock appears to be undervalued.
The current stock price of 円937.00 is trading 49.7% below its estimated GF Value™ of 円1,861.20.
GuruFocus considers Change Holdings to be Significantly Undervalued.
Key valuation signals for TSE:3962:
Net Margin %: 0.49% (96% below median its 10-year median of 13.17)
GF Value™: 円1,861.20 vs. price of 円937.00 (49.7% below fair value)
Industry Position: 80.7% below the Software median (#523 of 2827)
No single metric tells the full story. See the TSE:3962 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Change Holdings Inc provides mobility, IoT (Internet of Things) data, security and IT human resources training services. It segments are: Public Tech and NEW-IT Transformation Business. The Public Tech segment covers local government support projects that aims to realize high value-added resident services by utilizing ICT technology to promote the improvement of local government business productivity. The NEW-IT Transformation Business segment promotes digital transformation through various algorithms such as AI, voice Internet, mobility, IoT, cloud, security, services utilizing basic technology, and training for digital human resources. It also provides digital transformation solutions by combining libraries based on customer needs to realize customer digital transformation.
74GF Score
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