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Equites Property FundJSE:EQU +0.57%79 Operating Margin % is 57.09% as of Feb. 2026, which is 28% below its 10-year median of 78.99. GuruFocus rates JSE:EQU with a GF Score™ of 79/100 and a GF Value™ of R13.45 (Significantly Overvalued). The stock has 12 warning signs investors should review. Among 736 REITs companies, Equites Property Fund ranks better than 50.82% on this metric.
Equites Property Fund (JSE:EQU) 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.
Equites Property Fund Operating Margin % Related Terms
Equites Property Fund Operating Margin % Historical Data
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The historical data trend for Equites Property Fund'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.
JSE:EQU vs PLD, PSA, EXR: Operating Margin % Comparison
For the REIT - Industrial subindustry, Equites Property Fund'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.
Equites Property Fund Operating Margin % vs REITs Industry
For the REITs industry and Real Estate sector, Equites Property Fund's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Equites Property Fund's Operating Margin % falls into.
Equites Property Fund 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.
Equites Property Fund's Operating Margin % for the fiscal year that ended in Feb. 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.
Equites Property Fund (JSE:EQU) has a Operating Margin % of 57.09% as of Feb. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Equites Property Fund and its competitors. This is 28% below median its historical median of 78.99. Over the past decade, Equites Property Fund's Operating Margin % has ranged from 39.38 to 82.99. According to the industry distribution chart, Equites Property Fund ranks #362 out of 736 companies in the REITs industry, placing it in the top 49.2%.
Is Equites Property Fund's Operating Margin % too high?
Equites Property Fund's current Operating Margin % of 57.09% is 28% below median its 10-year median of 78.99. Over the past 10 years, this metric has ranged from a low of 39.38 to a high of 82.99. The REITs industry median Operating Margin % is 52.20. Equites Property Fund's value of 57.09% is 9.4% above this industry median. Based on the distribution chart, Equites Property Fund ranks #362 out of 736 companies in the REITs industry, which is above the industry midpoint. Overall, Equites Property Fund has a GF Score™ of 79/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Equites Property Fund's Operating Margin % compare to PLD and PSA?
According to the REITs industry distribution chart, Equites Property Fund ranks #362 out of 736 companies for Operating Margin %. This puts Equites Property Fund in the upper half of its industry. The industry median Operating Margin % is 52.20. Equites Property Fund's value of 57.09% is 9.4% above this benchmark. Historically, Equites Property Fund's own Operating Margin % has ranged from 39.38 to 82.99 over the past decade. While the company's 10-year median is 78.99 vs. the industry median of 52.20, Equites Property Fund 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 REITs company?
The median Operating Margin % among REITs companies is 52.20, based on 736 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. Equites Property Fund's current Operating Margin % of 57.09% is 9.4% 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 Equites Property Fund and its competitors. For the REITs industry, the median Operating Margin % is 52.20 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Equites Property Fund's current Operating Margin % is 57.09%, which is 28% below median its own 10-year median of 78.99. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Equites Property Fund stock overvalued right now?
Based on GuruFocus' analysis, Equites Property Fund (JSE:EQU) is currently considered Significantly Overvalued. The stock's GF Value™ is R13.45, compared to a current price of R17.79 — trading 32.3% above its estimated fair value. The current Operating Margin % is 57.09%, which is 28% below median its 10-year median of 78.99 and 9.4% above the REITs industry median of 52.20. Equites Property Fund's overall GF Score™ is 79/100 with 12 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 Equites Property Fund (JSE:EQU), the current Operating Margin % is 57.09% as of Feb. 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 Equites Property Fund (JSE:EQU) Overvalued in 2026?
Based on GuruFocus' analysis, Equites Property Fund stock appears to be overvalued.
The current stock price of R17.79 is trading 32.3% above its estimated GF Value™ of R13.45.
GuruFocus considers Equites Property Fund to be Significantly Overvalued.
Key valuation signals for JSE:EQU:
Operating Margin %: 57.09% (28% below median its 10-year median of 78.99)
GF Value™: R13.45 vs. price of R17.79 (32.3% above fair value)
Industry Position: 9.4% above the REITs median (#362 of 736)
No single metric tells the full story. See the JSE:EQU stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Equites Property Fund Ltd generates rental income from investment in and development of modern logistics facilities. Its business activities include development, acquisition of vacant land and brownfield opportunities, acquisition of tenanted property, property management, and capital management. The Group operates through three reportable segments: SA Industrial, generate maximum revenue, which incorporates all the SA industrial and logistics assets; UK Developer, which relates to the disposal of land and turnkey developments; and Other, which comprises non-property-related activities. The Group has industrial and logistics assets in the Western Cape, Eastern Cape, Gauteng, and KwaZulu-Natal, and one ongoing development site in the UK.
79GF Score
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