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China Tourism Group Duty FreeCTGDF 81 Operating Margin % is 15.98% as of Mar. 2026, which is 29% above its 10-year median of 12.35. GuruFocus rates CTGDF with a GF Score™ of 81/100 and a GF Value™ of $7.91. The stock has 4 warning signs investors should review. Among 1,132 Retail - Cyclical companies, China Tourism Group Duty Free ranks better than 79.33% on this metric.
China Tourism Group Duty Free (OTCPK:CTGDF) 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.
China Tourism Group Duty Free Operating Margin % Related Terms
China Tourism Group Duty Free Operating Margin % Historical Data
* 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.
China Tourism Group Duty Free Operating Margin % Chart
CTGDF vs CASY, WSM, ULTA: Operating Margin % Comparison
For the Specialty Retail subindustry, China Tourism Group Duty Free'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.
China Tourism Group Duty Free Operating Margin % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, China Tourism Group Duty Free's Operating Margin % distribution charts can be found below:
* The bar in red indicates where China Tourism Group Duty Free's Operating Margin % falls into.
China Tourism Group Duty Free Operating Margin % Calculation
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.
* 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.
China Tourism Group Duty Free (CTGDF) has a Operating Margin % of 15.98% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on China Tourism Group Duty Free and its competitors. This is 29% above median its historical median of 12.35. Over the past decade, China Tourism Group Duty Free's Operating Margin % has ranged from 10.11 to 22.34. According to the industry distribution chart, China Tourism Group Duty Free ranks #234 out of 1132 companies in the Retail - Cyclical industry, placing it in the top 20.7%.
Is China Tourism Group Duty Free's Operating Margin % too high?
China Tourism Group Duty Free's current Operating Margin % of 15.98% is 29% above median its 10-year median of 12.35. Over the past 10 years, this metric has ranged from a low of 10.11 to a high of 22.34. The Retail - Cyclical industry median Operating Margin % is 3.91. China Tourism Group Duty Free's value of 15.98% is 309.2% above this industry median. Based on the distribution chart, China Tourism Group Duty Free ranks #234 out of 1132 companies in the Retail - Cyclical industry, which is in the top quartile — a strong position relative to peers. Overall, China Tourism Group Duty Free has a GF Score™ of 81/100, reflecting its overall financial health beyond just this single metric.
How does China Tourism Group Duty Free's Operating Margin % compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, China Tourism Group Duty Free ranks #234 out of 1132 companies for Operating Margin %. This places China Tourism Group Duty Free in the top 21% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 3.91. China Tourism Group Duty Free's value of 15.98% is 309.2% above this benchmark. Historically, China Tourism Group Duty Free's own Operating Margin % has ranged from 10.11 to 22.34 over the past decade. While the company's 10-year median is 12.35 vs. the industry median of 3.91, China Tourism Group Duty Free 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 Retail - Cyclical company?
The median Operating Margin % among Retail - Cyclical companies is 3.91, based on 1,132 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. China Tourism Group Duty Free's current Operating Margin % of 15.98% is 309.2% 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 China Tourism Group Duty Free and its competitors. For the Retail - Cyclical industry, the median Operating Margin % is 3.91 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Tourism Group Duty Free's current Operating Margin % is 15.98%, which is 29% above median its own 10-year median of 12.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Tourism Group Duty Free stock overvalued right now?
China Tourism Group Duty Free (CTGDF) has a current Operating Margin % of 15.98%. The stock's GF Value™ is $7.91, compared to a current price of $6.25 — trading 21% below its estimated fair value. The current Operating Margin % is 15.98%, which is 29% above median its 10-year median of 12.35 and 309.2% above the Retail - Cyclical industry median of 3.91. China Tourism Group Duty Free's overall GF Score™ is 81/100 with 4 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 China Tourism Group Duty Free (CTGDF), the current Operating Margin % is 15.98% 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 China Tourism Group Duty Free (CTGDF) Overvalued in 2026?
Based on GuruFocus' analysis, China Tourism Group Duty Free stock appears to be undervalued.
The current stock price of $6.25 is trading 21% below its estimated GF Value™ of $7.91.
Key valuation signals for CTGDF:
Operating Margin %: 15.98% (29% above median its 10-year median of 12.35)
GF Value™: $7.91 vs. price of $6.25 (21% below fair value)
Industry Position: 309.2% above the Retail - Cyclical median (#234 of 1132)
No single metric tells the full story. See the CTGDF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Established in 1984, China Tourism Group Duty Free is China's largest and the world's second-largest travel retailer in 2025 with revenue of CNY 54 billion. The company primarily operates duty-free stores at airports, border crossings, offshore, downtown, and on flights, cruises and ships, with about 200 stores spanning over 33 provinces in China, as well as overseas. The company also operates a duty-paid business. Its 2025 revenue mix was 73% duty-free sales and 27% duty-paid sales and others. CTG Duty Free is 50% owned by China Tourism Group, a state-owned enterprise that falls directly under the State-owned Assets Supervision and Administration Commission of the State Council.
81GF Score
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