Netbay PCLBKK:NETBAY +1.03%78 Operating Margin % is 30.84% as of Mar. 2026, which is 30% below its 10-year median of 44.20. GuruFocus rates BKK:NETBAY with a GF Score™ of 78/100 and a GF Value™ of ฿21.57 (Significantly Undervalued). The stock has 3 warning signs investors should review. Among 2,818 Software companies, Netbay PCL ranks better than 98.05% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. Netbay PCL's Operating Income for the
three
months ended in Mar. 2026 was ฿42.4 Mil. Netbay PCL's Revenue for the
three
months ended in Mar. 2026 was ฿137.4 Mil. Therefore, Netbay PCL's Operating Margin % for the quarter that ended in Mar. 2026 was 30.84%.
Good Sign:
Netbay PCL operating margin is expanding. Margin expansion is usually a good sign.
The historical rank and industry rank for Netbay PCL's Operating Margin % or its related term are showing as below:
BKK:NETBAY'
s Operating Margin % Range Over the Past 10 Years
Min: 34.83 Med: 44.2 Max: 46.73
Current: 41.82
BKK:NETBAY's Operating Margin % is ranked better than 98.05% of 2818
companies
in the Software industry
Industry Median: 3.875
vs BKK:NETBAY: 41.82
Netbay PCL's 5-Year Average Operating Margin % Growth Rate was 1.90% per year.
Netbay PCL's Operating Income for the
three
months ended in Mar. 2026 was ฿42.4 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was ฿286.5 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.
Netbay PCL Operating Margin % Related Terms
Netbay PCL Operating Margin % Historical Data
* Premium members only.
The historical data trend for Netbay 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:NETBAY vs CRM, SHOP, UBER: Operating Margin % Comparison
For the Software - Application subindustry, Netbay 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.
Netbay PCL Operating Margin % vs Software Industry
For the Software industry and Technology sector, Netbay PCL's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Netbay 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.
Netbay 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.
Netbay PCL (BKK:NETBAY) has a Operating Margin % of 30.84% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Netbay PCL and its competitors. This is 30% below median its historical median of 44.20. Over the past decade, Netbay PCL's Operating Margin % has ranged from 34.83 to 46.73. According to the industry distribution chart, Netbay PCL ranks #55 out of 2818 companies in the Software industry, placing it in the top 2%.
Is Netbay PCL's Operating Margin % too high?
Netbay PCL's current Operating Margin % of 30.84% is 30% below median its 10-year median of 44.20. Over the past 10 years, this metric has ranged from a low of 34.83 to a high of 46.73. The Software industry median Operating Margin % is 3.88. Netbay PCL's value of 30.84% is 695.9% above this industry median. Based on the distribution chart, Netbay PCL ranks #55 out of 2818 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Netbay PCL has a GF Score™ of 78/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Netbay PCL's Operating Margin % compare to CRM and SHOP?
According to the Software industry distribution chart, Netbay PCL ranks #55 out of 2818 companies for Operating Margin %. This places Netbay PCL in the top 2% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 3.88. Netbay PCL's value of 30.84% is 695.9% above this benchmark. Historically, Netbay PCL's own Operating Margin % has ranged from 34.83 to 46.73 over the past decade. While the company's 10-year median is 44.20 vs. the industry median of 3.88, Netbay 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 Software company?
The median Operating Margin % among Software companies is 3.88, based on 2,818 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. Netbay PCL's current Operating Margin % of 30.84% is 695.9% 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 Netbay PCL and its competitors. For the Software industry, the median Operating Margin % is 3.88 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Netbay PCL's current Operating Margin % is 30.84%, which is 30% below median its own 10-year median of 44.20. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Netbay PCL stock overvalued right now?
Based on GuruFocus' analysis, Netbay PCL (BKK:NETBAY) is currently considered Significantly Undervalued. The stock's GF Value™ is ฿21.57, compared to a current price of ฿9.85 — trading 54.3% below its estimated fair value. The current Operating Margin % is 30.84%, which is 30% below median its 10-year median of 44.20 and 695.9% above the Software industry median of 3.88. Netbay PCL's overall GF Score™ is 78/100 with 3 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 Netbay PCL (BKK:NETBAY), the current Operating Margin % is 30.84% 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 Netbay PCL (BKK:NETBAY) Overvalued in 2026?
Based on GuruFocus' analysis, Netbay PCL stock appears to be undervalued.
The current stock price of ฿9.85 is trading 54.3% below its estimated GF Value™ of ฿21.57.
GuruFocus considers Netbay PCL to be Significantly Undervalued.
Key valuation signals for BKK:NETBAY:
Operating Margin %: 30.84% (30% below median its 10-year median of 44.20)
GF Value™: ฿21.57 vs. price of ฿9.85 (54.3% below fair value)
Industry Position: 695.9% above the Software median (#55 of 2818)
No single metric tells the full story. See the BKK:NETBAY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Netbay PCL is a Thailand-based company engaged in the provision and development of computer software used in the transmission of information electronically. The company creates, designs, and develops a digital business technology platform and omnichannel connectivity gateway. It operates in two segments: The e-Business segment, which develops an e-Business product in the form of services (SaaS: Software As A Service), and the e-Service segment, which rendered an e-Business service for the Business segment to Government (B2G) transaction, and Business segment to Business segment (B2B) transaction. The company operates only in Thailand and generates the majority of its revenue from the e-Business segment.
78GF Score
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