ANA HoldingsLSE:ANAA 30 Operating Margin % is 5.55% as of Mar. 2026, which is 32% below its 10-year median of 8.13. GuruFocus rates LSE:ANAA with a GF Score™ of 30/100 and a GF Value™ of $4.28 (Modestly Undervalued). The stock has 2 warning signs investors should review. Among 1,007 Transportation companies, ANA Holdings ranks better than 54.62% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. ANA Holdings's Operating Income for the
three
months ended in Mar. 2026 was $231 Mil. ANA Holdings's Revenue for the
three
months ended in Mar. 2026 was $4,171 Mil. Therefore, ANA Holdings's Operating Margin % for the quarter that ended in Mar. 2026 was 5.55%.
The historical rank and industry rank for ANA Holdings's Operating Margin % or its related term are showing as below:
LSE:ANAA'
s Operating Margin % Range Over the Past 10 Years
Min: -63.78 Med: 8.13 Max: 10.11
Current: 8.56
LSE:ANAA's Operating Margin % is ranked better than 54.62% of 1007
companies
in the Transportation industry
Industry Median: 7.36
vs LSE:ANAA: 8.56
ANA Holdings's 5-Year Average Operating Margin % Growth Rate was 0.00% per year.
ANA Holdings's Operating Income for the
three
months ended in Mar. 2026 was $231 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $1,430 Mil.
ANA Holdings (LSE:ANAA) 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.
ANA Holdings Operating Margin % Related Terms
ANA Holdings Operating Margin % Historical Data
* Premium members only.
The historical data trend for ANA Holdings'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.
LSE:ANAA vs DAL, UAL, LUV: Operating Margin % Comparison
For the Airlines subindustry, ANA 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.
ANA Holdings Operating Margin % vs Transportation Industry
For the Transportation industry and Industrials sector, ANA Holdings's Operating Margin % distribution charts can be found below:
* The bar in red indicates where ANA Holdings'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.
ANA Holdings'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.
ANA Holdings (LSE:ANAA) has a Operating Margin % of 5.55% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on ANA Holdings and its competitors. This is 32% below median its historical median of 8.13. According to the industry distribution chart, ANA Holdings ranks #457 out of 1007 companies in the Transportation industry, placing it in the top 45.4%.
Is ANA Holdings' Operating Margin % too high?
ANA Holdings' current Operating Margin % of 5.55% is 32% below median its 10-year median of 8.13. The Transportation industry median Operating Margin % is 7.36. ANA Holdings' value of 5.55% is 24.6% below this industry median. Based on the distribution chart, ANA Holdings ranks #457 out of 1007 companies in the Transportation industry, which is above the industry midpoint. Overall, ANA Holdings has a GF Score™ of 30/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does ANA Holdings' Operating Margin % compare to DAL and UAL?
According to the Transportation industry distribution chart, ANA Holdings ranks #457 out of 1007 companies for Operating Margin %. This puts ANA Holdings in the upper half of its industry. The industry median Operating Margin % is 7.36. ANA Holdings' value of 5.55% is 24.6% below this benchmark. While the company's 10-year median is 8.13 vs. the industry median of 7.36, ANA Holdings has consistently been below 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 Transportation company?
The median Operating Margin % among Transportation companies is 7.36, based on 1,007 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. ANA Holdings's current Operating Margin % of 5.55% is 24.6% below 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 ANA Holdings and its competitors. For the Transportation industry, the median Operating Margin % is 7.36 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. ANA Holdings's current Operating Margin % is 5.55%, which is 32% below median its own 10-year median of 8.13. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is ANA Holdings stock overvalued right now?
Based on GuruFocus' analysis, ANA Holdings (LSE:ANAA) is currently considered Modestly Undervalued. The stock's GF Value™ is $4.28, compared to a current price of $3.79 — trading 11.4% below its estimated fair value. The current Operating Margin % is 5.55%, which is 32% below median its 10-year median of 8.13 and 24.6% below the Transportation industry median of 7.36. ANA Holdings' overall GF Score™ is 30/100 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 ANA Holdings (LSE:ANAA), the current Operating Margin % is 5.55% 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 ANA Holdings (LSE:ANAA) Overvalued in 2026?
Based on GuruFocus' analysis, ANA Holdings stock appears to be undervalued.
The current stock price of $3.79 is trading 11.4% below its estimated GF Value™ of $4.28.
GuruFocus considers ANA Holdings to be Modestly Undervalued.
Key valuation signals for LSE:ANAA:
Operating Margin %: 5.55% (32% below median its 10-year median of 8.13)
GF Value™: $4.28 vs. price of $3.79 (11.4% below fair value)
Industry Position: 24.6% below the Transportation median (#457 of 1007)
No single metric tells the full story. See the LSE:ANAA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
ANA Holdings is the holding firm of Japan's largest airline, All Nippon Airways. Besides the flagship carrier, ANA also owns discount airline Peach Aviation, Hokkaido-based Air Do, and airfreight carrier Nippon Cargo Airlines. Air Japan, which was launched to provide discount flights to Southeast Asia, will cease in 2026. Prior to covid-19, passenger transport made up over 50% of group revenue, split almost equally between domestic and international passenger routes while cargo revenue made up 4%-5%. Its primary hub is Tokyo's Narita International Airport, but it is also expanding routes from Haneda Airport. ANA has minor stakes in Philippine Airlines, Vietnam Airlines, and IHG ANA Hotels Group Japan. The latter is a hotel chain in Japan owned and operated by InterContinental Hotels Group.
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