Bega CheeseASX:BGA +3.21%75 Operating Margin % is 3.75% as of Dec. 2025, which is 2106% above its 10-year median of 0.17. GuruFocus rates ASX:BGA with a GF Score™ of 75/100 and a GF Value™ of A$4.83 (Modestly Overvalued). The stock has 4 warning signs investors should review. Among 1,951 Consumer Packaged Goods companies, Bega Cheese ranks worse than 77.75% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. Bega Cheese's Operating Income for the
six
months ended in Dec. 2025 was A$70 Mil. Bega Cheese's Revenue for the
six
months ended in Dec. 2025 was A$1,871 Mil. Therefore, Bega Cheese's Operating Margin % for the quarter that ended in Dec. 2025 was 3.75%.
The historical rank and industry rank for Bega Cheese's Operating Margin % or its related term are showing as below:
ASX:BGA'
s Operating Margin % Range Over the Past 10 Years
Min: -2.44 Med: 0.17 Max: 3.25
Current: -0.16
ASX:BGA's Operating Margin % is ranked worse than 77.75% of 1951
companies
in the Consumer Packaged Goods industry
Industry Median: 5.26
vs ASX:BGA: -0.16
Bega Cheese's 5-Year Average Operating Margin % Growth Rate was 0.00% per year.
Bega Cheese's Operating Income for the
six
months ended in Dec. 2025 was A$70 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was A$-6 Mil.
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
Bega Cheese Operating Margin % Related Terms
Bega Cheese Operating Margin % Historical Data
* Premium members only.
The historical data trend for Bega Cheese's Operating 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.
ASX:BGA vs KHC, GIS: Operating Margin % Comparison
For the Packaged Foods subindustry, Bega Cheese's Operating Margin %, along with its competitors' market caps and Operating 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.
Bega Cheese Operating Margin % vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Bega Cheese's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Bega Cheese's Operating Margin % falls into.
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
Bega Cheese's Operating Margin % for the fiscal year that ended in Jun. 2025 is calculated as
* 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.
Bega Cheese (ASX:BGA) has a Operating Margin % of 3.75% as of Dec. 2025. Operating margin is the ratio of total operating income to net sales. View historical data on Bega Cheese and its competitors. This is 2106% above median its historical median of 0.17. According to the industry distribution chart, Bega Cheese ranks #1517 out of 1951 companies in the Consumer Packaged Goods industry, placing it in the top 77.8%.
Is Bega Cheese's Operating Margin % too high?
Bega Cheese's current Operating Margin % of 3.75% is 2106% above median its 10-year median of 0.17. The Consumer Packaged Goods industry median Operating Margin % is 5.26. Bega Cheese's value of 3.75% is 28.7% below this industry median. Based on the distribution chart, Bega Cheese ranks #1517 out of 1951 companies in the Consumer Packaged Goods industry, which is in the bottom quartile relative to peers. Overall, Bega Cheese has a GF Score™ of 75/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Bega Cheese's Operating Margin % compare to KHC and GIS?
According to the Consumer Packaged Goods industry distribution chart, Bega Cheese ranks #1517 out of 1951 companies for Operating Margin %. This places Bega Cheese in the lower half of its industry. The industry median Operating Margin % is 5.26. Bega Cheese's value of 3.75% is 28.7% below this benchmark. While the company's 10-year median is 0.17 vs. the industry median of 5.26, Bega Cheese 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 Operating Margin % for a Consumer Packaged Goods company?
The median Operating Margin % among Consumer Packaged Goods companies is 5.26, based on 1,951 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Bega Cheese's current Operating Margin % of 3.75% is 28.7% 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 Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Bega Cheese and its competitors. For the Consumer Packaged Goods industry, the median Operating Margin % is 5.26 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bega Cheese's current Operating Margin % is 3.75%, which is 2106% above median its own 10-year median of 0.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bega Cheese stock overvalued right now?
Based on GuruFocus' analysis, Bega Cheese (ASX:BGA) is currently considered Modestly Overvalued. The stock's GF Value™ is A$4.83, compared to a current price of A$5.79 — trading 19.9% above its estimated fair value. The current Operating Margin % is 3.75%, which is 2106% above median its 10-year median of 0.17 and 28.7% below the Consumer Packaged Goods industry median of 5.26. Bega Cheese's overall GF Score™ is 75/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Bega Cheese (ASX:BGA), the current Operating Margin % is 3.75% as of Dec. 2025. 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 Bega Cheese (ASX:BGA) Overvalued in 2026?
Based on GuruFocus' analysis, Bega Cheese stock appears to be overvalued.
The current stock price of A$5.79 is trading 19.9% above its estimated GF Value™ of A$4.83.
GuruFocus considers Bega Cheese to be Modestly Overvalued.
Key valuation signals for ASX:BGA:
Operating Margin %: 3.75% (2106% above median its 10-year median of 0.17)
GF Value™: A$4.83 vs. price of A$5.79 (19.9% above fair value)
Industry Position: 28.7% below the Consumer Packaged Goods median (#1517 of 1951)
No single metric tells the full story. See the ASX:BGA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bega Group is an Australia-based dairy processor and food manufacturer of well-known brands including Bega Cheese and Vegemite. Bega operates two segments: The branded segment produces consumer packaged goods primarily sold through the supermarket and foodservice channels, while the bulk segment produces commodity dairy ingredients primarily sold through the business-to-business channel.
75GF Score
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