The Steel PCLBKK:THE-R 28 Operating Margin % is 3.78% as of Mar. 2026, which is 510% above its 10-year median of 0.62. GuruFocus rates BKK:THE-R with a GF Score™ of 28/100 and a GF Value™ of ฿0.88. The stock has 6 warning signs investors should review. Among 615 Steel companies, The Steel PCL ranks worse than 69.11% on this metric.
The Steel PCL (BKK:THE-R) 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.
The Steel PCL Operating Margin % Related Terms
The Steel PCL Operating Margin % Historical Data
* Premium members only.
The historical data trend for The 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:THE-R vs NUE, STLD, RS: Operating Margin % Comparison
For the Steel subindustry, The 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.
The Steel PCL Operating Margin % vs Steel Industry
For the Steel industry and Basic Materials sector, The Steel PCL's Operating Margin % distribution charts can be found below:
* The bar in red indicates where The 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.
The 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.
The Steel PCL (BKK:THE-R) has a Operating Margin % of 3.78% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on The Steel PCL and its competitors. This is 510% above median its historical median of 0.62. According to the industry distribution chart, The Steel PCL ranks #425 out of 615 companies in the Steel industry, placing it in the top 69.1%.
Is The Steel PCL's Operating Margin % too high?
The Steel PCL's current Operating Margin % of 3.78% is 510% above median its 10-year median of 0.62. The Steel industry median Operating Margin % is 2.99. The Steel PCL's value of 3.78% is 26.4% above this industry median. Based on the distribution chart, The Steel PCL ranks #425 out of 615 companies in the Steel industry, which is below the industry midpoint. Overall, The Steel PCL has a GF Score™ of 28/100, reflecting its overall financial health beyond just this single metric.
How does The Steel PCL's Operating Margin % compare to NUE and STLD?
According to the Steel industry distribution chart, The Steel PCL ranks #425 out of 615 companies for Operating Margin %. This places The Steel PCL in the lower half of its industry. The industry median Operating Margin % is 2.99. The Steel PCL's value of 3.78% is 26.4% above this benchmark. While the company's 10-year median is 0.62 vs. the industry median of 2.99, The 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. The Steel PCL's current Operating Margin % of 3.78% is 26.4% 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 The 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. The Steel PCL's current Operating Margin % is 3.78%, which is 510% above median its own 10-year median of 0.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is The Steel PCL stock overvalued right now?
The Steel PCL (BKK:THE-R) has a current Operating Margin % of 3.78%. The stock's GF Value™ is ฿0.88, compared to a current price of ฿0.83 — trading 5.4% below its estimated fair value. The current Operating Margin % is 3.78%, which is 510% above median its 10-year median of 0.62 and 26.4% above the Steel industry median of 2.99. The Steel PCL's overall GF Score™ is 28/100 with 6 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 The Steel PCL (BKK:THE-R), the current Operating Margin % is 3.78% 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 The Steel PCL (BKK:THE-R) Overvalued in 2026?
Based on GuruFocus' analysis, The Steel PCL stock appears to be undervalued.
The current stock price of ฿0.83 is trading 5.4% below its estimated GF Value™ of ฿0.88.
Key valuation signals for BKK:THE-R:
Operating Margin %: 3.78% (510% above median its 10-year median of 0.62)
GF Value™: ฿0.88 vs. price of ฿0.83 (5.4% below fair value)
Industry Position: 26.4% above the Steel median (#425 of 615)
No single metric tells the full story. See the BKK:THE-R stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
The Steel PCL is principally engaged in the selling and transforming hot rolled steel sheets and coils and other structural steels and logistic services of steel. Its product portfolio includes hot-rolled coils, and processed forms such as slit coils, steel sheets, hot-formed structural steel, and cold-formed structural steel, as well as other steel products. In addition, the company also processes certain steel products, including steel sheets, slit coils, flat steel, folded angle steel, folded channel steel, steel pipes, and C-shaped structural steel. The company operates in two reportable segments: Revenue from sales of steels, which accounts for a majority of its revenue, and Revenue from logistic services. Geographically, it is managed and operates principally in Thailand.
28GF Score
Get the complete analysis for BKK:THE-R
Operating Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
BKK:THE-R has been successfully added to your 
