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Top Spring International Holdings (HKSE:03688) 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.
Top Spring International Holdings Operating Margin % Related Terms
Top Spring International Holdings 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.
Top Spring International Holdings Operating Margin % Chart
Top Spring International Holdings Operating Margin % Competitor Comparison
For the Real Estate - Development subindustry, Top Spring International Holdings'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.
Top Spring International Holdings Operating Margin % vs Real Estate Industry
For the Real Estate industry and Real Estate sector, Top Spring International Holdings's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Top Spring International Holdings's Operating Margin % falls into.
Top Spring International Holdings Operating Margin % Calculation
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.
* 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.
Top Spring International Holdings (HKSE:03688) has a Operating Margin % of -135.39% as of Dec. 2025. Operating margin is the ratio of total operating income to net sales. View historical data on Top Spring International Holdings and its competitors. According to the industry distribution chart, Top Spring International Holdings ranks #1605 out of 1749 companies in the Real Estate industry, placing it in the top 91.8%.
Is Top Spring International Holdings' Operating Margin % too high?
Top Spring International Holdings' current Operating Margin % is -135.39%. Based on the distribution chart, Top Spring International Holdings ranks #1605 out of 1749 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Top Spring International Holdings has a GF Score™ of 36/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Top Spring International Holdings' Operating Margin % compare to competitors?
According to the Real Estate industry distribution chart, Top Spring International Holdings ranks #1605 out of 1749 companies for Operating Margin %. This places Top Spring International Holdings in the lower half of its industry. The industry median Operating Margin % is 12.78. 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 Real Estate company?
The median Operating Margin % among Real Estate companies is 12.78, based on 1,749 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 Top Spring International Holdings and its competitors. For the Real Estate industry, the median Operating Margin % is 12.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Top Spring International Holdings's current Operating Margin % is -135.39%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Top Spring International Holdings stock overvalued right now?
Based on GuruFocus' analysis, Top Spring International Holdings (HKSE:03688) is currently considered Possible Value Trap. The stock's GF Value™ is HK$0.36, compared to a current price of HK$0.19 — trading 46.9% below its estimated fair value. The current Operating Margin % is -135.39%. Top Spring International Holdings' overall GF Score™ is 36/100 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 Top Spring International Holdings (HKSE:03688), the current Operating Margin % is -135.39% as of Dec. 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 Top Spring International Holdings (HKSE:03688) Overvalued in 2026?
Based on GuruFocus' analysis, Top Spring International Holdings stock appears to be undervalued.
The current stock price of HK$0.19 is trading 46.9% below its estimated GF Value™ of HK$0.36.
GuruFocus considers Top Spring International Holdings to be Possible Value Trap.
Key valuation signals for HKSE:03688:
Operating Margin %: -135.39%
GF Value™: HK$0.36 vs. price of HK$0.19 (46.9% below fair value)
No single metric tells the full story. See the HKSE:03688 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Top Spring International Holdings Ltd is an investment holding engaged in property development, property investment, property management and related services, and education-related services in the People's Republic of China. It generates the majority of its revenue from the Property development segment which develops and sells residential and commercial properties. Geographically the company has a presence in PRC, Hong Kong, and others, with key revenue coming from PRC.
36GF Score
Get the complete analysis for HKSE:03688
Operating Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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