CMC MarketsFRA:T8Q +2.90%76 Operating Margin % is 25.97% as of Mar. 2026, which is 2% below its 10-year median of 26.39. GuruFocus rates FRA:T8Q with a GF Score™ of 76/100 and a GF Value™ of €3.18. The stock has 8 warning signs investors should review. Among 664 Capital Markets companies, CMC Markets ranks better than 66.11% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. CMC Markets's Operating Income for the
six
months ended in Mar. 2026 was €66.5 Mil. CMC Markets's Revenue for the
six
months ended in Mar. 2026 was €256.0 Mil. Therefore, CMC Markets's Operating Margin % for the quarter that ended in Mar. 2026 was 25.97%.
Warning Sign:
CMC Markets PLC operating margin has been in a 5-year decline. The average rate of decline per year is -9.2%.
The historical rank and industry rank for CMC Markets's Operating Margin % or its related term are showing as below:
FRA:T8Q'
s Operating Margin % Range Over the Past 10 Years
Min: 4.68 Med: 26.39 Max: 48.86
Current: 26.55
FRA:T8Q's Operating Margin % is ranked better than 66.11% of 664
companies
in the Capital Markets industry
Industry Median: 6.955
vs FRA:T8Q: 26.55
CMC Markets's 5-Year Average Operating Margin % Growth Rate was -9.20% per year.
CMC Markets's Operating Income for the
six
months ended in Mar. 2026 was €66.5 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was €128.1 Mil.
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.
CMC Markets Operating Margin % Related Terms
CMC Markets Operating Margin % Historical Data
* Premium members only.
The historical data trend for CMC Markets'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:T8Q vs MS, GS, SCHW: Operating Margin % Comparison
For the Capital Markets subindustry, CMC Markets'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.
CMC Markets Operating Margin % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, CMC Markets's Operating Margin % distribution charts can be found below:
* The bar in red indicates where CMC Markets'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.
CMC Markets's Operating Margin % for the fiscal year that ended in Mar. 2026 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.
CMC Markets (FRA:T8Q) has a Operating Margin % of 25.97% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on CMC Markets and its competitors. This is near median its historical median of 26.39. Over the past decade, CMC Markets' Operating Margin % has ranged from 4.68 to 48.86. According to the industry distribution chart, CMC Markets ranks #225 out of 664 companies in the Capital Markets industry, placing it in the top 33.9%.
Is CMC Markets' Operating Margin % too high?
CMC Markets' current Operating Margin % of 25.97% is near median its 10-year median of 26.39. Over the past 10 years, this metric has ranged from a low of 4.68 to a high of 48.86. The Capital Markets industry median Operating Margin % is 6.96. CMC Markets' value of 25.97% is 273.4% above this industry median. Based on the distribution chart, CMC Markets ranks #225 out of 664 companies in the Capital Markets industry, which is above the industry midpoint. Overall, CMC Markets has a GF Score™ of 76/100, reflecting its overall financial health beyond just this single metric.
How does CMC Markets' Operating Margin % compare to MS and GS?
According to the Capital Markets industry distribution chart, CMC Markets ranks #225 out of 664 companies for Operating Margin %. This puts CMC Markets in the upper half of its industry. The industry median Operating Margin % is 6.96. CMC Markets' value of 25.97% is 273.4% above this benchmark. Historically, CMC Markets' own Operating Margin % has ranged from 4.68 to 48.86 over the past decade. While the company's 10-year median is 26.39 vs. the industry median of 6.96, CMC Markets 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 6.96, based on 664 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. CMC Markets's current Operating Margin % of 25.97% is 273.4% 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 CMC Markets and its competitors. For the Capital Markets industry, the median Operating Margin % is 6.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. CMC Markets's current Operating Margin % is 25.97%, which is near median its own 10-year median of 26.39. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is CMC Markets stock overvalued right now?
CMC Markets (FRA:T8Q) has a current Operating Margin % of 25.97%. The stock's GF Value™ is €3.18, compared to a current price of €5.33 — trading 67.6% above its estimated fair value. The current Operating Margin % is 25.97%, which is near median its 10-year median of 26.39 and 273.4% above the Capital Markets industry median of 6.96. CMC Markets' overall GF Score™ is 76/100 with 8 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 CMC Markets (FRA:T8Q), the current Operating Margin % is 25.97% 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 CMC Markets (FRA:T8Q) Overvalued in 2026?
Based on GuruFocus' analysis, CMC Markets stock appears to be overvalued.
The current stock price of €5.33 is trading 67.6% above its estimated GF Value™ of €3.18.
Key valuation signals for FRA:T8Q:
Operating Margin %: 25.97% (near median its 10-year median of 26.39)
GF Value™: €3.18 vs. price of €5.33 (67.6% above fair value)
Industry Position: 273.4% above the Capital Markets median (#225 of 664)
No single metric tells the full story. See the FRA:T8Q stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
CMC Markets PLC is a United Kingdom-based company that provides an online platform for trading and investing, with a comprehensive retail, professional, and institutional offering. The Group's business consists of two segments, Trading and Investing. The majority of its revenue is generated from the Trading segment, whose core business involves online trading, enabling clients to trade a broad array of financial instruments for short-term investment and hedging purposes. Additionally, the trading segment includes the Treasury Management and Capital Markets Division that invests surplus liquidity to enhance yield. The Investing segment supports clients longer-term investment goals. The group offers online stockbroking services in Australia, the UK, the USA, and Singapore.
76GF Score
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