Hudbay MineralsFRA:OCKA -7.32%77 Operating Margin % is 39.96% as of Mar. 2026, which is 108% above its 10-year median of 19.22. GuruFocus rates FRA:OCKA with a GF Score™ of 77/100 and a GF Value™ of €8.82 (Significantly Overvalued). The stock has 2 warning signs investors should review. Among 841 Metals & Mining companies, Hudbay Minerals ranks better than 78.36% on this metric.
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.
Hudbay Minerals Operating Margin % Related Terms
Hudbay Minerals Operating Margin % Historical Data
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The historical data trend for Hudbay Minerals'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:OCKA vs SCCO, FCX: Operating Margin % Comparison
For the Copper subindustry, Hudbay Minerals'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.
Hudbay Minerals Operating Margin % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, Hudbay Minerals's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Hudbay Minerals'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.
Hudbay Minerals'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.
Hudbay Minerals (FRA:OCKA) has a Operating Margin % of 39.96% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Hudbay Minerals and its competitors. This is 108% above median its historical median of 19.22. According to the industry distribution chart, Hudbay Minerals ranks #182 out of 841 companies in the Metals & Mining industry, placing it in the top 21.6%.
Is Hudbay Minerals' Operating Margin % too high?
Hudbay Minerals' current Operating Margin % of 39.96% is 108% above median its 10-year median of 19.22. The Metals & Mining industry median Operating Margin % is 5.79. Hudbay Minerals' value of 39.96% is 590.2% above this industry median. Based on the distribution chart, Hudbay Minerals ranks #182 out of 841 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, Hudbay Minerals has a GF Score™ of 77/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hudbay Minerals' Operating Margin % compare to SCCO and FCX?
According to the Metals & Mining industry distribution chart, Hudbay Minerals ranks #182 out of 841 companies for Operating Margin %. This places Hudbay Minerals in the top 22% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 5.79. Hudbay Minerals' value of 39.96% is 590.2% above this benchmark. While the company's 10-year median is 19.22 vs. the industry median of 5.79, Hudbay Minerals 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 Metals & Mining company?
The median Operating Margin % among Metals & Mining companies is 5.79, based on 841 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. Hudbay Minerals's current Operating Margin % of 39.96% is 590.2% 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 Hudbay Minerals and its competitors. For the Metals & Mining industry, the median Operating Margin % is 5.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hudbay Minerals's current Operating Margin % is 39.96%, which is 108% above median its own 10-year median of 19.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hudbay Minerals stock overvalued right now?
Based on GuruFocus' analysis, Hudbay Minerals (FRA:OCKA) is currently considered Significantly Overvalued. The stock's GF Value™ is €8.82, compared to a current price of €20.39 — trading 131.2% above its estimated fair value. The current Operating Margin % is 39.96%, which is 108% above median its 10-year median of 19.22 and 590.2% above the Metals & Mining industry median of 5.79. Hudbay Minerals' overall GF Score™ is 77/100 with 2 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 Hudbay Minerals (FRA:OCKA), the current Operating Margin % is 39.96% 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 Hudbay Minerals (FRA:OCKA) Overvalued in 2026?
Based on GuruFocus' analysis, Hudbay Minerals stock appears to be overvalued.
The current stock price of €20.39 is trading 131.2% above its estimated GF Value™ of €8.82.
GuruFocus considers Hudbay Minerals to be Significantly Overvalued.
Key valuation signals for FRA:OCKA:
Operating Margin %: 39.96% (108% above median its 10-year median of 19.22)
GF Value™: €8.82 vs. price of €20.39 (131.2% above fair value)
Industry Position: 590.2% above the Metals & Mining median (#182 of 841)
No single metric tells the full story. See the FRA:OCKA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hudbay Minerals Inc is a copper-focused critical minerals company with three long-life operations and a pipeline of copper growth projects in Canada, Peru, and the United States. Its operating portfolio includes the Constancia mine in Cusco (Peru), the Snow Lake operations in Manitoba (Canada), and the Copper Mountain mine in British Columbia (Canada). Copper is the primary metal produced by the company, which is complemented by gold, zinc, silver, and molybdenum production. Hudbay's growth pipeline includes the Copper World project and the Mason project in the USA, and the Llaguen project in Peru. The company's reportable segments are: Peru, which generates the maximum revenue, Manitoba, British Columbia, and Arizona. Geographically, it generates maximum revenue from China and Canada.
77GF Score
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