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Ermenegildo Zegna NVFRA:JN0 +4.72%84 Operating Margin % is % as of Sep. 2021. GuruFocus rates FRA:JN0 with a GF Score™ of 84/100 and a GF Value™ of €39.20 (Significantly Undervalued). The stock has 4 warning signs investors should review. Among 1,047 Manufacturing - Apparel & Accessories companies, Ermenegildo Zegna NV ranks better than 64.85% on this metric.
The historical rank and industry rank for Ermenegildo Zegna NV's Operating Margin % or its related term are showing as below:
FRA:JN0'
s Operating Margin % Range Over the Past 10 Years
Min: -7.28 Med: 8.38 Max: 10.93
Current: 7.43
FRA:JN0's Operating Margin % is ranked better than 64.85% of 1047
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 4.4
vs FRA:JN0: 7.43
Ermenegildo Zegna NV's 5-Year Average Operating Margin % Growth Rate was 0.00% per year.
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.
Ermenegildo Zegna NV Operating Margin % Related Terms
Ermenegildo Zegna NV Operating Margin % Historical Data
* Premium members only.
The historical data trend for Ermenegildo Zegna NV'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:JN0 vs PVH, KTB, COLM: Operating Margin % Comparison
For the Apparel Manufacturing subindustry, Ermenegildo Zegna NV'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.
Ermenegildo Zegna NV Operating Margin % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, Ermenegildo Zegna NV's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Ermenegildo Zegna NV'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.
Ermenegildo Zegna NV'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.
Ermenegildo Zegna NV (FRA:JN0) has a Operating Margin % of % as of Sep. 2021. Operating margin is the ratio of total operating income to net sales. View historical data on Ermenegildo Zegna NV and its competitors. According to the industry distribution chart, Ermenegildo Zegna NV ranks #368 out of 1047 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 35.1%.
Is Ermenegildo Zegna NV's Operating Margin % too high?
Ermenegildo Zegna NV's current Operating Margin % is %. Based on the distribution chart, Ermenegildo Zegna NV ranks #368 out of 1047 companies in the Manufacturing - Apparel & Accessories industry, which is above the industry midpoint. Overall, Ermenegildo Zegna NV has a GF Score™ of 84/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Ermenegildo Zegna NV's Operating Margin % compare to PVH and KTB?
According to the Manufacturing - Apparel & Accessories industry distribution chart, Ermenegildo Zegna NV ranks #368 out of 1047 companies for Operating Margin %. This puts Ermenegildo Zegna NV in the upper half of its industry. The industry median Operating Margin % is 4.40. 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 Manufacturing - Apparel & Accessories company?
The median Operating Margin % among Manufacturing - Apparel & Accessories companies is 4.40, based on 1,047 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. 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 Ermenegildo Zegna NV and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Operating Margin % is 4.40 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ermenegildo Zegna NV's current Operating Margin % is %. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ermenegildo Zegna NV stock overvalued right now?
Based on GuruFocus' analysis, Ermenegildo Zegna NV (FRA:JN0) is currently considered Significantly Undervalued. The stock's GF Value™ is €39.20, compared to a current price of €10.64 — trading 72.9% below its estimated fair value. The current Operating Margin % is %. Ermenegildo Zegna NV's overall GF Score™ is 84/100 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 Ermenegildo Zegna NV (FRA:JN0), the current Operating Margin % is % as of Sep. 2021. 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 Ermenegildo Zegna NV (FRA:JN0) Overvalued in 2026?
Based on GuruFocus' analysis, Ermenegildo Zegna NV stock appears to be undervalued.
The current stock price of €10.64 is trading 72.9% below its estimated GF Value™ of €39.20.
GuruFocus considers Ermenegildo Zegna NV to be Significantly Undervalued.
Key valuation signals for FRA:JN0:
Operating Margin %: %
GF Value™: €39.20 vs. price of €10.64 (72.9% below fair value)
No single metric tells the full story. See the FRA:JN0 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ermenegildo Zegna NV designs creates, and distributes luxury menswear and accessories under the Zegna brand, as well as womenswear, menswear, and accessories under the Thom Browne brand. The company operates in three segments: the Zegna segment (comprising three product lines: Zegna Branded Products, Textile, and Third Party Brands); the Thom Browne segment, and the Tom Ford Fashion segment. The company generates the majority of revenue from the Zegna segment.
84GF Score
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