Vulcan Steel (ASX:VSL) Operating Margin %: 0.04% (As of Dec. 2025) — 100% Below Median


ASX:VSL Vulcan Steel Ltd ASX:VSL
60 GF Score
Price A$4.99
GF Value A$6.22
Valuation Modestly Undervalued
! 5 Warning Signs
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What is Vulcan Steel Operating Margin %?

Vulcan Steel ASX:VSL -0.40% 60 Operating Margin % is 0.04% as of Dec. 2025, which is 100% below its 10-year median of 10.03. GuruFocus rates ASX:VSL with a GF Score™ of 60/100 and a GF Value™ of A$6.22 (Modestly Undervalued). The stock has 5 warning signs investors should review. Among 615 Steel companies, Vulcan Steel ranks worse than 74.96% on this metric.

Operating Margin % is calculated as Operating Income divided by its Revenue. Vulcan Steel's Operating Income for the six months ended in Dec. 2025 was A$0.2 Mil. Vulcan Steel's Revenue for the six months ended in Dec. 2025 was A$466.3 Mil. Therefore, Vulcan Steel's Operating Margin % for the quarter that ended in Dec. 2025 was 0.04%.

The historical rank and industry rank for Vulcan Steel's Operating Margin % or its related term are showing as below:

ASX:VSL' s Operating Margin % Range Over the Past 10 Years
Min: -0.41   Med: 10.03   Max: 20.26
Current: -0.41


ASX:VSL's Operating Margin % is ranked worse than
74.96% of 615 companies
in the Steel industry
Industry Median: 2.99 vs ASX:VSL: -0.41

Vulcan Steel's 5-Year Average Operating Margin % Growth Rate was 0.00% per year.

Vulcan Steel's Operating Income for the six months ended in Dec. 2025 was A$0.2 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was A$-3.6 Mil.


Vulcan Steel  (ASX:VSL) Operating Margin % Explanation

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 Nokia’s 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.


Vulcan Steel Operating Margin % Related Terms


Vulcan Steel Operating Margin % Historical Data

* Premium members only.

The historical data trend for Vulcan Steel'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.

Vulcan Steel Operating Margin % Chart

Vulcan Steel Annual Data
Trend Jun22 Jun23 Jun24 Jun25
Operating Margin %
20.26 13.95 6.11 2.94

Vulcan Steel Semi-Annual Data
Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Operating Margin % Get a 7-Day Free Trial Premium Member Only 10.49 1.18 6.49 -0.90 0.04

ASX:VSL vs NUE, STLD, RS: Operating Margin % Comparison

For the Steel subindustry, Vulcan Steel'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.


Vulcan Steel Operating Margin % vs Steel Industry

For the Steel industry and Basic Materials sector, Vulcan Steel's Operating Margin % distribution charts can be found below:

* The bar in red indicates where Vulcan Steel's Operating Margin % falls into.


ASX:VSL
60GF Score
Vulcan Steel Ltd ASX:VSL
Operating Margin % is just one metric. See GF Score™, valuation, warning signs, and more.
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Vulcan Steel Operating Margin % Calculation

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.

Vulcan Steel's Operating Margin % for the fiscal year that ended in Jun. 2025 is calculated as

Operating Margin %=Operating Income (A: Jun. 2025 ) / Revenue (A: Jun. 2025 )
=25.879 / 878.916
=2.94 %

Vulcan Steel's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as

Operating Margin %=Operating Income (Q: Dec. 2025 ) / Revenue (Q: Dec. 2025 )
=0.178 / 466.283
=0.04 %

* 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.

Frequently Asked Questions Learn more about Operating Margin % →
What does a Operating Margin % of 0.04% mean?
Vulcan Steel (ASX:VSL) has a Operating Margin % of 0.04% as of Dec. 2025. Operating margin is the ratio of total operating income to net sales. View historical data on Vulcan Steel and its competitors. This is 100% below median its historical median of 10.03. According to the industry distribution chart, Vulcan Steel ranks #461 out of 615 companies in the Steel industry, placing it in the top 75%.
Is Vulcan Steel's Operating Margin % too high?
Vulcan Steel's current Operating Margin % of 0.04% is 100% below median its 10-year median of 10.03. The Steel industry median Operating Margin % is 2.99. Vulcan Steel's value of 0.04% is 98.7% below this industry median. Based on the distribution chart, Vulcan Steel ranks #461 out of 615 companies in the Steel industry, which is below the industry midpoint. Overall, Vulcan Steel has a GF Score™ of 60/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Vulcan Steel's Operating Margin % compare to NUE and STLD?
According to the Steel industry distribution chart, Vulcan Steel ranks #461 out of 615 companies for Operating Margin %. This places Vulcan Steel in the lower half of its industry. The industry median Operating Margin % is 2.99. Vulcan Steel's value of 0.04% is 98.7% below this benchmark. While the company's 10-year median is 10.03 vs. the industry median of 2.99, Vulcan Steel 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 Steel company?
The median Operating Margin % among Steel companies is 2.99, based on 615 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. Vulcan Steel's current Operating Margin % of 0.04% is 98.7% 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 Vulcan Steel and its competitors. For the Steel industry, the median Operating Margin % is 2.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Vulcan Steel's current Operating Margin % is 0.04%, which is 100% below median its own 10-year median of 10.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Vulcan Steel stock overvalued right now?
Based on GuruFocus' analysis, Vulcan Steel (ASX:VSL) is currently considered Modestly Undervalued. The stock's GF Value™ is A$6.22, compared to a current price of A$4.99 — trading 19.8% below its estimated fair value. The current Operating Margin % is 0.04%, which is 100% below median its 10-year median of 10.03 and 98.7% below the Steel industry median of 2.99. Vulcan Steel's overall GF Score™ is 60/100 with 5 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 Vulcan Steel (ASX:VSL), the current Operating Margin % is 0.04% 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 Vulcan Steel (ASX:VSL) Overvalued in 2026?

Based on GuruFocus' analysis, Vulcan Steel stock appears to be undervalued. The current stock price of A$4.99 is trading 19.8% below its estimated GF Value™ of A$6.22. GuruFocus considers Vulcan Steel to be Modestly Undervalued.

Key valuation signals for ASX:VSL:

  • Operating Margin %: 0.04% (100% below median its 10-year median of 10.03)
  • GF Value™: A$6.22 vs. price of A$4.99 (19.8% below fair value)
  • GF Score™: 60/100 with 5 warning signs
  • Industry Position: 98.7% below the Steel median (#461 of 615)

No single metric tells the full story. See the ASX:VSL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Vulcan Steel Business Description

Other Exchanges VSL:New Zealand
Address 29 Neales Road, East Tamaki, Auckland, NTL, NZL, 2013
Vulcan Steel Ltd is a metals distributor and processor. Its products include Steel, Stainless Steel, Engineering steel, Plate processing, and Coil processing. The company has two operating segments namely, the Steel business across New Zealand and Australia which includes Steel distribution, Plate processing, and Coil processing; and Metals business across New Zealand, which includes Stainless Steel, Engineering Steel, and Aluminium.
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Operating Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

A$4.99
Price
A$6.22
GF Value