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.
Metalpha Technology Holding Operating Margin % Related Terms
Metalpha Technology Holding 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.
FRA:D92 vs HGBL, GSIW, PLUT: Operating Margin % Comparison
For the Capital Markets subindustry, Metalpha Technology Holding'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.
Metalpha Technology Holding Operating Margin % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Metalpha Technology Holding's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Metalpha Technology Holding'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.
Metalpha Technology Holding's Operating Margin % for the fiscal year that ended in Mar. 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.
Metalpha Technology Holding (FRA:D92) has a Operating Margin % of 59.53% as of Sep. 2025. Operating margin is the ratio of total operating income to net sales. View historical data on Metalpha Technology Holding and its competitors. This is 649% above median its historical median of 7.95. According to the industry distribution chart, Metalpha Technology Holding ranks #212 out of 666 companies in the Capital Markets industry, placing it in the top 31.8%.
Is Metalpha Technology Holding's Operating Margin % too high?
Metalpha Technology Holding's current Operating Margin % of 59.53% is 649% above median its 10-year median of 7.95. The Capital Markets industry median Operating Margin % is 7.27. Metalpha Technology Holding's value of 59.53% is 719.4% above this industry median. Based on the distribution chart, Metalpha Technology Holding ranks #212 out of 666 companies in the Capital Markets industry, which is above the industry midpoint. Overall, Metalpha Technology Holding has a GF Score™ of 42/100, reflecting its overall financial health beyond just this single metric.
How does Metalpha Technology Holding's Operating Margin % compare to HGBL and GSIW?
According to the Capital Markets industry distribution chart, Metalpha Technology Holding ranks #212 out of 666 companies for Operating Margin %. This puts Metalpha Technology Holding in the upper half of its industry. The industry median Operating Margin % is 7.27. Metalpha Technology Holding's value of 59.53% is 719.4% above this benchmark. While the company's 10-year median is 7.95 vs. the industry median of 7.27, Metalpha Technology Holding 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 Capital Markets company?
The median Operating Margin % among Capital Markets companies is 7.27, based on 666 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. Metalpha Technology Holding's current Operating Margin % of 59.53% is 719.4% 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 Metalpha Technology Holding and its competitors. For the Capital Markets industry, the median Operating Margin % is 7.27 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Metalpha Technology Holding's current Operating Margin % is 59.53%, which is 649% above median its own 10-year median of 7.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Metalpha Technology Holding stock overvalued right now?
Metalpha Technology Holding (FRA:D92) has a current Operating Margin % of 59.53%. The stock's GF Value™ is €1.81, compared to a current price of €0.78 — trading 56.9% below its estimated fair value. The current Operating Margin % is 59.53%, which is 649% above median its 10-year median of 7.95 and 719.4% above the Capital Markets industry median of 7.27. Metalpha Technology Holding's overall GF Score™ is 42/100 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 Metalpha Technology Holding (FRA:D92), the current Operating Margin % is 59.53% as of Sep. 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 Metalpha Technology Holding (FRA:D92) Overvalued in 2026?
Based on GuruFocus' analysis, Metalpha Technology Holding stock appears to be undervalued.
The current stock price of €0.78 is trading 56.9% below its estimated GF Value™ of €1.81.
Key valuation signals for FRA:D92:
Operating Margin %: 59.53% (649% above median its 10-year median of 7.95)
GF Value™: €1.81 vs. price of €0.78 (56.9% below fair value)
Industry Position: 719.4% above the Capital Markets median (#212 of 666)
No single metric tells the full story. See the FRA:D92 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Metalpha Technology Holding Ltd is a digital asset focused wealth management company. The company predominantly generates revenue from the execution of cryptocurrency-related transactions, which includes the issuance of derivative products to over-the-counter (OTC) clients and its proprietary trading activities. It has partnered with a crypto exchange to provide crypto derivative market-making services for its clients, facilitating the trading of crypto derivative products. In addition, the company also engages in providing traditional financial derivative products, and asset management services. It operates in a single segment which is the trading of proprietary digital assets and derivative contracts, and generates majority of its revenue from Hong Kong.
42GF Score
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