Also Holding AGFRA:9AS -0.95%62 Operating Margin % is 1.49% as of Dec. 2025, which is 7% below its 10-year median of 1.60. GuruFocus rates FRA:9AS with a GF Score™ of 62/100 and a GF Value™ of €327.98 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 2,471 Hardware companies, Also Holding AG ranks worse than 62.57% on this metric.
Also Holding AG (FRA:9AS) 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.
Also Holding AG Operating Margin % Related Terms
Also Holding AG Operating Margin % Historical Data
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The historical data trend for Also Holding AG'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.
FRA:9AS vs SNX, ARW, AVT: Operating Margin % Comparison
For the Electronics & Computer Distribution subindustry, Also Holding AG'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.
Also Holding AG Operating Margin % vs Hardware Industry
For the Hardware industry and Technology sector, Also Holding AG's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Also Holding AG'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.
Also Holding AG'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.
Also Holding AG (FRA:9AS) has a Operating Margin % of 1.49% as of Dec. 2025. Operating margin is the ratio of total operating income to net sales. View historical data on Also Holding AG and its competitors. This is near median its historical median of 1.60. Over the past decade, Also Holding AG's Operating Margin % has ranged from 1.48 to 2.04. According to the industry distribution chart, Also Holding AG ranks #1546 out of 2471 companies in the Hardware industry, placing it in the top 62.6%.
Is Also Holding AG's Operating Margin % too high?
Also Holding AG's current Operating Margin % of 1.49% is near median its 10-year median of 1.60. Over the past 10 years, this metric has ranged from a low of 1.48 to a high of 2.04. The Hardware industry median Operating Margin % is 3.80. Also Holding AG's value of 1.49% is 60.8% below this industry median. Based on the distribution chart, Also Holding AG ranks #1546 out of 2471 companies in the Hardware industry, which is below the industry midpoint. Overall, Also Holding AG has a GF Score™ of 62/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Also Holding AG's Operating Margin % compare to SNX and ARW?
According to the Hardware industry distribution chart, Also Holding AG ranks #1546 out of 2471 companies for Operating Margin %. This places Also Holding AG in the lower half of its industry. The industry median Operating Margin % is 3.80. Also Holding AG's value of 1.49% is 60.8% below this benchmark. Historically, Also Holding AG's own Operating Margin % has ranged from 1.48 to 2.04 over the past decade. While the company's 10-year median is 1.60 vs. the industry median of 3.80, Also Holding AG has consistently been below 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. Also Holding AG's current Operating Margin % of 1.49% is 60.8% below 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 Also Holding AG 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. Also Holding AG's current Operating Margin % is 1.49%, which is near median its own 10-year median of 1.60. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Also Holding AG stock overvalued right now?
Based on GuruFocus' analysis, Also Holding AG (FRA:9AS) is currently considered Possible Value Trap. The stock's GF Value™ is €327.98, compared to a current price of €208.00 — trading 36.6% below its estimated fair value. The current Operating Margin % is 1.49%, which is near median its 10-year median of 1.60 and 60.8% below the Hardware industry median of 3.80. Also Holding AG's overall GF Score™ is 62/100 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 Also Holding AG (FRA:9AS), the current Operating Margin % is 1.49% as of Dec. 2025. 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 Also Holding AG (FRA:9AS) Overvalued in 2026?
Based on GuruFocus' analysis, Also Holding AG stock appears to be undervalued.
The current stock price of €208.00 is trading 36.6% below its estimated GF Value™ of €327.98.
GuruFocus considers Also Holding AG to be Possible Value Trap.
Key valuation signals for FRA:9AS:
Operating Margin %: 1.49% (near median its 10-year median of 1.60)
GF Value™: €327.98 vs. price of €208.00 (36.6% below fair value)
Industry Position: 60.8% below the Hardware median (#1546 of 2471)
No single metric tells the full story. See the FRA:9AS stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Also Holding AG is an information and communications technology distribution company. It distributes a wide portfolio of hardware, software, and digital products of various technology brands. The industries it caters to include information technology, data centers, consumer electronics, and telecommunications. It also connects service providers of cloud solutions with their customers and aids the provision of financial, logistics, and IT services. The company's operating segments are: Central Europe, which generates the maximum revenue, and Northern/Eastern Europe. Geographically, it derives maximum revenue from the United Kingdom, followed by Germany, Poland, Switzerland, and other markets.
62GF Score
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