M.C.S. Steel PCLBKK:MCS 68 Operating Margin % is 13.51% as of Mar. 2026, which is 31% below its 10-year median of 19.44. GuruFocus rates BKK:MCS with a GF Score™ of 68/100 and a GF Value™ of ฿6.51 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 615 Steel companies, M.C.S. Steel PCL ranks better than 95.28% 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.
M.C.S. Steel PCL Operating Margin % Related Terms
M.C.S. Steel PCL Operating Margin % Historical Data
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The historical data trend for M.C.S. Steel 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:MCS vs NUE, STLD, RS: Operating Margin % Comparison
For the Steel subindustry, M.C.S. Steel 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.
M.C.S. Steel PCL Operating Margin % vs Steel Industry
For the Steel industry and Basic Materials sector, M.C.S. Steel PCL's Operating Margin % distribution charts can be found below:
* The bar in red indicates where M.C.S. Steel 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.
M.C.S. Steel 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.
M.C.S. Steel PCL (BKK:MCS) has a Operating Margin % of 13.51% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on M.C.S. Steel PCL and its competitors. This is 31% below median its historical median of 19.44. Over the past decade, M.C.S. Steel PCL's Operating Margin % has ranged from 4.38 to 27.51. According to the industry distribution chart, M.C.S. Steel PCL ranks #29 out of 615 companies in the Steel industry, placing it in the top 4.7%.
Is M.C.S. Steel PCL's Operating Margin % too high?
M.C.S. Steel PCL's current Operating Margin % of 13.51% is 31% below median its 10-year median of 19.44. Over the past 10 years, this metric has ranged from a low of 4.38 to a high of 27.51. The Steel industry median Operating Margin % is 2.99. M.C.S. Steel PCL's value of 13.51% is 351.8% above this industry median. Based on the distribution chart, M.C.S. Steel PCL ranks #29 out of 615 companies in the Steel industry, which is in the top quartile — a strong position relative to peers. Overall, M.C.S. Steel PCL has a GF Score™ of 68/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does M.C.S. Steel PCL's Operating Margin % compare to NUE and STLD?
According to the Steel industry distribution chart, M.C.S. Steel PCL ranks #29 out of 615 companies for Operating Margin %. This places M.C.S. Steel PCL in the top 5% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 2.99. M.C.S. Steel PCL's value of 13.51% is 351.8% above this benchmark. Historically, M.C.S. Steel PCL's own Operating Margin % has ranged from 4.38 to 27.51 over the past decade. While the company's 10-year median is 19.44 vs. the industry median of 2.99, M.C.S. Steel 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 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. M.C.S. Steel PCL's current Operating Margin % of 13.51% is 351.8% 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 M.C.S. Steel PCL 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. M.C.S. Steel PCL's current Operating Margin % is 13.51%, which is 31% below median its own 10-year median of 19.44. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is M.C.S. Steel PCL stock overvalued right now?
Based on GuruFocus' analysis, M.C.S. Steel PCL (BKK:MCS) is currently considered Modestly Overvalued. The stock's GF Value™ is ฿6.51, compared to a current price of ฿7.65 — trading 17.5% above its estimated fair value. The current Operating Margin % is 13.51%, which is 31% below median its 10-year median of 19.44 and 351.8% above the Steel industry median of 2.99. M.C.S. Steel PCL's overall GF Score™ is 68/100 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 M.C.S. Steel PCL (BKK:MCS), the current Operating Margin % is 13.51% 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 M.C.S. Steel PCL (BKK:MCS) Overvalued in 2026?
Based on GuruFocus' analysis, M.C.S. Steel PCL stock appears to be overvalued.
The current stock price of ฿7.65 is trading 17.5% above its estimated GF Value™ of ฿6.51.
GuruFocus considers M.C.S. Steel PCL to be Modestly Overvalued.
Key valuation signals for BKK:MCS:
Operating Margin %: 13.51% (31% below median its 10-year median of 19.44)
GF Value™: ฿6.51 vs. price of ฿7.65 (17.5% above fair value)
Industry Position: 351.8% above the Steel median (#29 of 615)
No single metric tells the full story. See the BKK:MCS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
M.C.S. Steel PCL is engaged in the production and distribution of structural steel products for building construction and residential development projects for sale. It provides and exports steel structure works for various projects. The company's services include engineering design, parts, and quality control. The company's product and services portfolio includes Fabrication and sale of structural steel of which substantial income is earned, Fabrication including installation of structural steel, and Rendering of services. The business operates in three geographical segments: Thailand, Japan, and China. Key revenue is earned from domestic sales.
68GF Score
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