KCE Electronics PCLBKK:KCE +3.92%69 Operating Margin % is 9.27% as of Mar. 2026, which is 27% below its 10-year median of 12.72. GuruFocus rates BKK:KCE with a GF Score™ of 69/100 and a GF Value™ of ฿28.06 (Significantly Overvalued). The stock has 10 warning signs investors should review. Among 2,471 Hardware companies, KCE Electronics PCL ranks better than 67.79% on this metric.
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.
KCE Electronics PCL Operating Margin % Related Terms
KCE Electronics PCL Operating Margin % Historical Data
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The historical data trend for KCE Electronics PCL'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.
BKK:KCE vs APH, GLW, TEL: Operating Margin % Comparison
For the Electronic Components subindustry, KCE Electronics PCL'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.
KCE Electronics PCL Operating Margin % vs Hardware Industry
For the Hardware industry and Technology sector, KCE Electronics PCL's Operating Margin % distribution charts can be found below:
* The bar in red indicates where KCE Electronics PCL'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.
KCE Electronics PCL's Operating Margin % for the fiscal year that ended in Dec. 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.
KCE Electronics PCL (BKK:KCE) has a Operating Margin % of 9.27% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on KCE Electronics PCL and its competitors. This is 27% below median its historical median of 12.72. Over the past decade, KCE Electronics PCL's Operating Margin % has ranged from 7.56 to 22.59. According to the industry distribution chart, KCE Electronics PCL ranks #796 out of 2471 companies in the Hardware industry, placing it in the top 32.2%.
Is KCE Electronics PCL's Operating Margin % too high?
KCE Electronics PCL's current Operating Margin % of 9.27% is 27% below median its 10-year median of 12.72. Over the past 10 years, this metric has ranged from a low of 7.56 to a high of 22.59. The Hardware industry median Operating Margin % is 3.80. KCE Electronics PCL's value of 9.27% is 143.9% above this industry median. Based on the distribution chart, KCE Electronics PCL ranks #796 out of 2471 companies in the Hardware industry, which is above the industry midpoint. Overall, KCE Electronics PCL has a GF Score™ of 69/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does KCE Electronics PCL's Operating Margin % compare to APH and GLW?
According to the Hardware industry distribution chart, KCE Electronics PCL ranks #796 out of 2471 companies for Operating Margin %. This puts KCE Electronics PCL in the upper half of its industry. The industry median Operating Margin % is 3.80. KCE Electronics PCL's value of 9.27% is 143.9% above this benchmark. Historically, KCE Electronics PCL's own Operating Margin % has ranged from 7.56 to 22.59 over the past decade. While the company's 10-year median is 12.72 vs. the industry median of 3.80, KCE Electronics PCL 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 Hardware company?
The median Operating Margin % among Hardware companies is 3.80, based on 2,471 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. KCE Electronics PCL's current Operating Margin % of 9.27% is 143.9% 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 KCE Electronics PCL and its competitors. For the Hardware industry, the median Operating Margin % is 3.80 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. KCE Electronics PCL's current Operating Margin % is 9.27%, which is 27% below median its own 10-year median of 12.72. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KCE Electronics PCL stock overvalued right now?
Based on GuruFocus' analysis, KCE Electronics PCL (BKK:KCE) is currently considered Significantly Overvalued. The stock's GF Value™ is ฿28.06, compared to a current price of ฿39.75 — trading 41.7% above its estimated fair value. The current Operating Margin % is 9.27%, which is 27% below median its 10-year median of 12.72 and 143.9% above the Hardware industry median of 3.80. KCE Electronics PCL's overall GF Score™ is 69/100 with 10 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 KCE Electronics PCL (BKK:KCE), the current Operating Margin % is 9.27% 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 KCE Electronics PCL (BKK:KCE) Overvalued in 2026?
Based on GuruFocus' analysis, KCE Electronics PCL stock appears to be overvalued.
The current stock price of ฿39.75 is trading 41.7% above its estimated GF Value™ of ฿28.06.
GuruFocus considers KCE Electronics PCL to be Significantly Overvalued.
Key valuation signals for BKK:KCE:
Operating Margin %: 9.27% (27% below median its 10-year median of 12.72)
GF Value™: ฿28.06 vs. price of ฿39.75 (41.7% above fair value)
Industry Position: 143.9% above the Hardware median (#796 of 2471)
No single metric tells the full story. See the BKK:KCE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
KCE Electronics PCL and its subsidiaries manufacture and distribute printed circuit boards. The company is based in Thailand but earns the majority of its revenue internationally. It has three segments: Manufacturing and distributing of Prepreg and Laminate; Manufacturing and distributing of Printed Circuit Board; and Manufacturing and distributing of Chemical. The company manufactures printed circuit boards that are used in a variety of industries, including automotive, computer, industrial, and telecommunications systems. The company also manufactures and distributes chemicals and laminate products. The majority of its revenue is earned in Europe.
69GF Score
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