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KAL GroupJSE:KAL 92 Operating Margin % is 5.70% as of Mar. 2026, which is 38% above its 10-year median of 4.13. GuruFocus rates JSE:KAL with a GF Score™ of 92/100 and a GF Value™ of R43.66 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 1,132 Retail - Cyclical companies, KAL Group ranks worse than 52.74% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. KAL Group's Operating Income for the
six
months ended in Mar. 2026 was R648 Mil. KAL Group's Revenue for the
six
months ended in Mar. 2026 was R11,357 Mil. Therefore, KAL Group's Operating Margin % for the quarter that ended in Mar. 2026 was 5.70%.
Warning Sign:
KAL Group Ltd operating margin has been in a 5-year decline. The average rate of decline per year is -6.8%.
The historical rank and industry rank for KAL Group's Operating Margin % or its related term are showing as below:
JSE:KAL'
s Operating Margin % Range Over the Past 10 Years
Min: 3 Med: 4.13 Max: 4.51
Current: 3.61
JSE:KAL's Operating Margin % is ranked worse than 52.74% of 1132
companies
in the Retail - Cyclical industry
Industry Median: 3.99
vs JSE:KAL: 3.61
KAL Group's 5-Year Average Operating Margin % Growth Rate was -6.80% per year.
KAL Group's Operating Income for the
six
months ended in Mar. 2026 was R648 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was R752 Mil.
KAL Group (JSE:KAL) 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.
KAL Group Operating Margin % Related Terms
KAL Group Operating Margin % Historical Data
* Premium members only.
The historical data trend for KAL Group'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:KAL vs CASY, WSM, ULTA: Operating Margin % Comparison
For the Specialty Retail subindustry, KAL Group'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.
KAL Group Operating Margin % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, KAL Group's Operating Margin % distribution charts can be found below:
* The bar in red indicates where KAL Group'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.
KAL Group's Operating Margin % for the fiscal year that ended in Sep. 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.
KAL Group (JSE:KAL) has a Operating Margin % of 5.70% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on KAL Group and its competitors. This is 38% above median its historical median of 4.13. Over the past decade, KAL Group's Operating Margin % has ranged from 3.00 to 4.51. According to the industry distribution chart, KAL Group ranks #597 out of 1132 companies in the Retail - Cyclical industry, placing it in the top 52.7%.
Is KAL Group's Operating Margin % too high?
KAL Group's current Operating Margin % of 5.70% is 38% above median its 10-year median of 4.13. Over the past 10 years, this metric has ranged from a low of 3.00 to a high of 4.51. The Retail - Cyclical industry median Operating Margin % is 3.99. KAL Group's value of 5.70% is 42.9% above this industry median. Based on the distribution chart, KAL Group ranks #597 out of 1132 companies in the Retail - Cyclical industry, which is below the industry midpoint. Overall, KAL Group has a GF Score™ of 92/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does KAL Group's Operating Margin % compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, KAL Group ranks #597 out of 1132 companies for Operating Margin %. This places KAL Group in the lower half of its industry. The industry median Operating Margin % is 3.99. KAL Group's value of 5.70% is 42.9% above this benchmark. Historically, KAL Group's own Operating Margin % has ranged from 3.00 to 4.51 over the past decade. While the company's 10-year median is 4.13 vs. the industry median of 3.99, KAL Group 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 Retail - Cyclical company?
The median Operating Margin % among Retail - Cyclical companies is 3.99, based on 1,132 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. KAL Group's current Operating Margin % of 5.70% is 42.9% 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 KAL Group and its competitors. For the Retail - Cyclical industry, the median Operating Margin % is 3.99 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. KAL Group's current Operating Margin % is 5.70%, which is 38% above median its own 10-year median of 4.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is KAL Group stock overvalued right now?
Based on GuruFocus' analysis, KAL Group (JSE:KAL) is currently considered Modestly Overvalued. The stock's GF Value™ is R43.66, compared to a current price of R50.00 — trading 14.5% above its estimated fair value. The current Operating Margin % is 5.70%, which is 38% above median its 10-year median of 4.13 and 42.9% above the Retail - Cyclical industry median of 3.99. KAL Group's overall GF Score™ is 92/100 with 5 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 KAL Group (JSE:KAL), the current Operating Margin % is 5.70% 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 KAL Group (JSE:KAL) Overvalued in 2026?
Based on GuruFocus' analysis, KAL Group stock appears to be overvalued.
The current stock price of R50.00 is trading 14.5% above its estimated GF Value™ of R43.66.
GuruFocus considers KAL Group to be Modestly Overvalued.
Key valuation signals for JSE:KAL:
Operating Margin %: 5.70% (38% above median its 10-year median of 4.13)
GF Value™: R43.66 vs. price of R50.00 (14.5% above fair value)
Industry Position: 42.9% above the Retail - Cyclical median (#597 of 1132)
No single metric tells the full story. See the JSE:KAL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
KAL Group Ltd is a lifestyle retailer offering agricultural inputs, fuel (farm and retail), and general and convenience retail products to consumers across Southern Africa. Its segments include Agrimark, PEG, Agrimark Grain and Manufacturing. The majority of the company's revenue is derived from the PEG segment, which operates retail fuel outlets, including convenience stores and quick-service restaurant locations, serving a broad customer base. Geographically, it generates the maximum revenue from South Africa and the rest from Namibia.
92GF Score
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