Fiera Milano SpAFRA:FM3 -0.61%76 Operating Margin % is 28.95% as of Mar. 2026, which is 240% above its 10-year median of 8.52. GuruFocus rates FRA:FM3 with a GF Score™ of 76/100 and a GF Value™ of €5.92 (Significantly Overvalued). The stock has 3 warning signs investors should review. Among 1,070 Business Services companies, Fiera Milano SpA ranks better than 91.12% on this metric.
Fiera Milano SpA (FRA:FM3) 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.
Fiera Milano SpA Operating Margin % Related Terms
Fiera Milano SpA Operating Margin % Historical Data
* Premium members only.
The historical data trend for Fiera Milano SpA'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:FM3 vs CTAS, CPRT, GPN: Operating Margin % Comparison
For the Specialty Business Services subindustry, Fiera Milano SpA'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.
Fiera Milano SpA Operating Margin % vs Business Services Industry
For the Business Services industry and Industrials sector, Fiera Milano SpA's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Fiera Milano SpA'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.
Fiera Milano SpA'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.
Fiera Milano SpA (FRA:FM3) has a Operating Margin % of 28.95% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Fiera Milano SpA and its competitors. This is 240% above median its historical median of 8.52. According to the industry distribution chart, Fiera Milano SpA ranks #95 out of 1070 companies in the Business Services industry, placing it in the top 8.9%.
Is Fiera Milano SpA's Operating Margin % too high?
Fiera Milano SpA's current Operating Margin % of 28.95% is 240% above median its 10-year median of 8.52. The Business Services industry median Operating Margin % is 6.33. Fiera Milano SpA's value of 28.95% is 357.3% above this industry median. Based on the distribution chart, Fiera Milano SpA ranks #95 out of 1070 companies in the Business Services industry, which is in the top quartile — a strong position relative to peers. Overall, Fiera Milano SpA has a GF Score™ of 76/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Fiera Milano SpA's Operating Margin % compare to CTAS and CPRT?
According to the Business Services industry distribution chart, Fiera Milano SpA ranks #95 out of 1070 companies for Operating Margin %. This places Fiera Milano SpA in the top 9% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 6.33. Fiera Milano SpA's value of 28.95% is 357.3% above this benchmark. While the company's 10-year median is 8.52 vs. the industry median of 6.33, Fiera Milano SpA 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 Business Services company?
The median Operating Margin % among Business Services companies is 6.33, based on 1,070 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. Fiera Milano SpA's current Operating Margin % of 28.95% is 357.3% 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 Fiera Milano SpA and its competitors. For the Business Services industry, the median Operating Margin % is 6.33 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Fiera Milano SpA's current Operating Margin % is 28.95%, which is 240% above median its own 10-year median of 8.52. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Fiera Milano SpA stock overvalued right now?
Based on GuruFocus' analysis, Fiera Milano SpA (FRA:FM3) is currently considered Significantly Overvalued. The stock's GF Value™ is €5.92, compared to a current price of €8.17 — trading 38% above its estimated fair value. The current Operating Margin % is 28.95%, which is 240% above median its 10-year median of 8.52 and 357.3% above the Business Services industry median of 6.33. Fiera Milano SpA's overall GF Score™ is 76/100 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 Fiera Milano SpA (FRA:FM3), the current Operating Margin % is 28.95% 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 Fiera Milano SpA (FRA:FM3) Overvalued in 2026?
Based on GuruFocus' analysis, Fiera Milano SpA stock appears to be overvalued.
The current stock price of €8.17 is trading 38% above its estimated GF Value™ of €5.92.
GuruFocus considers Fiera Milano SpA to be Significantly Overvalued.
Key valuation signals for FRA:FM3:
Operating Margin %: 28.95% (240% above median its 10-year median of 8.52)
GF Value™: €5.92 vs. price of €8.17 (38% above fair value)
Industry Position: 357.3% above the Business Services median (#95 of 1070)
No single metric tells the full story. See the FRA:FM3 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Fiera Milano SpA is a trade fair company. Its operating segments include Italian Exhibitions Business, Foreign Exhibitions Business, Congresses, and Other Sectors. The Italian Exhibitions and Foreign Exhibitions segment covers all activities for organizing and hosting exhibitions and other events in Italy and abroad through the use, promotion, and offer of furnished exhibition spaces, project support, and ancillary services. It also engages in stand-fitting, technical, and exhibition site services. The Congresses segment covers the management of conferences and events. It generates the majority of the revenue from Italian exhibitions segment. Geographically, it operates in Italy and Abroad, where it derives maximum revenue from Italy.
76GF Score
Get the complete analysis for FRA:FM3
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
FRA:FM3 has been successfully added to your 
