ASXASXFY -0.21%84 Operating Margin % is 56.18% as of Dec. 2025, which is 18% below its 10-year median of 68.37. GuruFocus rates ASXFY with a GF Score™ of 84/100 and a GF Value™ of $54.61 (Possible Value Trap). The stock has 5 warning signs investors should review. Among 664 Capital Markets companies, ASX ranks better than 86.75% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. ASX's Operating Income for the
six
months ended in Dec. 2025 was $227.8 Mil. ASX's Revenue for the
six
months ended in Dec. 2025 was $405.6 Mil. Therefore, ASX's Operating Margin % for the quarter that ended in Dec. 2025 was 56.18%.
Warning Sign:
ASX Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -4.2%.
The historical rank and industry rank for ASX's Operating Margin % or its related term are showing as below:
ASXFY'
s Operating Margin % Range Over the Past 10 Years
Min: 57.04 Med: 68.37 Max: 71.07
Current: 57.63
ASXFY's Operating Margin % is ranked better than 86.75% of 664
companies
in the Capital Markets industry
Industry Median: 6.955
vs ASXFY: 57.63
ASX's 5-Year Average Operating Margin % Growth Rate was -4.20% per year.
ASX's Operating Income for the
six
months ended in Dec. 2025 was $227.8 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was $450.4 Mil.
ASX (OTCPK:ASXFY) 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 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.
ASX Operating Margin % Related Terms
ASX Operating Margin % Historical Data
* Premium members only.
The historical data trend for ASX'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.
ASXFY vs SPGI, CME, ICE: Operating Margin % Comparison
For the Financial Data & Stock Exchanges subindustry, ASX'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.
ASX Operating Margin % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, ASX's Operating Margin % distribution charts can be found below:
* The bar in red indicates where ASX'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.
ASX'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.
ASX (ASXFY) has a Operating Margin % of 56.18% as of Dec. 2025. Operating margin is the ratio of total operating income to net sales. View historical data on ASX and its competitors. This is 18% below median its historical median of 68.37. Over the past decade, ASX's Operating Margin % has ranged from 57.04 to 71.07. According to the industry distribution chart, ASX ranks #88 out of 664 companies in the Capital Markets industry, placing it in the top 13.3%.
Is ASX's Operating Margin % too high?
ASX's current Operating Margin % of 56.18% is 18% below median its 10-year median of 68.37. Over the past 10 years, this metric has ranged from a low of 57.04 to a high of 71.07. The Capital Markets industry median Operating Margin % is 6.96. ASX's value of 56.18% is 707.8% above this industry median. Based on the distribution chart, ASX ranks #88 out of 664 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, ASX has a GF Score™ of 84/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does ASX's Operating Margin % compare to SPGI and CME?
According to the Capital Markets industry distribution chart, ASX ranks #88 out of 664 companies for Operating Margin %. This places ASX in the top 13% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 6.96. ASX's value of 56.18% is 707.8% above this benchmark. Historically, ASX's own Operating Margin % has ranged from 57.04 to 71.07 over the past decade. While the company's 10-year median is 68.37 vs. the industry median of 6.96, ASX 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 Operating Margin % for a Capital Markets company?
The median Operating Margin % among Capital Markets companies is 6.96, based on 664 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. ASX's current Operating Margin % of 56.18% is 707.8% 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 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 ASX and its competitors. For the Capital Markets industry, the median Operating Margin % is 6.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ASX's current Operating Margin % is 56.18%, which is 18% below median its own 10-year median of 68.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ASX stock overvalued right now?
Based on GuruFocus' analysis, ASX (ASXFY) is currently considered Possible Value Trap. The stock's GF Value™ is $54.61, compared to a current price of $35.25 — trading 35.5% below its estimated fair value. The current Operating Margin % is 56.18%, which is 18% below median its 10-year median of 68.37 and 707.8% above the Capital Markets industry median of 6.96. ASX's overall GF Score™ is 84/100 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 ASX (ASXFY), the current Operating Margin % is 56.18% 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 ASX (ASXFY) Overvalued in 2026?
Based on GuruFocus' analysis, ASX stock appears to be undervalued.
The current stock price of $35.25 is trading 35.5% below its estimated GF Value™ of $54.61.
GuruFocus considers ASX to be Possible Value Trap.
Key valuation signals for ASXFY:
Operating Margin %: 56.18% (18% below median its 10-year median of 68.37)
GF Value™: $54.61 vs. price of $35.25 (35.5% below fair value)
Industry Position: 707.8% above the Capital Markets median (#88 of 664)
No single metric tells the full story. See the ASXFY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Australian Securities Exchange is a vertically integrated securities exchange business offering listing, data, trading, clearing, and settlement services across equities, debt, and derivatives. ASX benefits from various effective monopolies across its business and a disproportionately large listings business from Australia's outsize natural resources sector.
84GF Score
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