Games Workshop GroupLSE:GAW +7.18%95 Operating Margin % is 42.28% as of Nov. 2025, which is 21% above its 10-year median of 34.87. GuruFocus rates LSE:GAW with a GF Score™ of 95/100 and a GF Value™ of £147.20 (Significantly Overvalued). The stock has 5 warning signs investors should review. Among 844 Travel & Leisure companies, Games Workshop Group ranks better than 97.51% on this metric.
Games Workshop Group (LSE:GAW) 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.
Games Workshop Group Operating Margin % Related Terms
Games Workshop Group Operating Margin % Historical Data
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The historical data trend for Games Workshop 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.
LSE:GAW vs AS, HAS, LTH: Operating Margin % Comparison
For the Leisure subindustry, Games Workshop 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.
Games Workshop Group Operating Margin % vs Travel & Leisure Industry
For the Travel & Leisure industry and Consumer Cyclical sector, Games Workshop Group's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Games Workshop Group's Operating Margin % falls into.
Games Workshop Group 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.
Games Workshop Group's Operating Margin % for the fiscal year that ended in May. 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.
Games Workshop Group (LSE:GAW) has a Operating Margin % of 42.28% as of Nov. 2025. Operating margin is the ratio of total operating income to net sales. View historical data on Games Workshop Group and its competitors. This is 21% above median its historical median of 34.87. Over the past decade, Games Workshop Group's Operating Margin % has ranged from 14.28 to 42.39. According to the industry distribution chart, Games Workshop Group ranks #21 out of 844 companies in the Travel & Leisure industry, placing it in the top 2.5%.
Is Games Workshop Group's Operating Margin % too high?
Games Workshop Group's current Operating Margin % of 42.28% is 21% above median its 10-year median of 34.87. Over the past 10 years, this metric has ranged from a low of 14.28 to a high of 42.39. The Travel & Leisure industry median Operating Margin % is 8.14. Games Workshop Group's value of 42.28% is 419.7% above this industry median. Based on the distribution chart, Games Workshop Group ranks #21 out of 844 companies in the Travel & Leisure industry, which is in the top quartile — a strong position relative to peers. Overall, Games Workshop Group has a GF Score™ of 95/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Games Workshop Group's Operating Margin % compare to AS and HAS?
According to the Travel & Leisure industry distribution chart, Games Workshop Group ranks #21 out of 844 companies for Operating Margin %. This places Games Workshop Group in the top 3% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 8.14. Games Workshop Group's value of 42.28% is 419.7% above this benchmark. Historically, Games Workshop Group's own Operating Margin % has ranged from 14.28 to 42.39 over the past decade. While the company's 10-year median is 34.87 vs. the industry median of 8.14, Games Workshop 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 Travel & Leisure company?
The median Operating Margin % among Travel & Leisure companies is 8.14, based on 844 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. Games Workshop Group's current Operating Margin % of 42.28% is 419.7% 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 Games Workshop Group and its competitors. For the Travel & Leisure industry, the median Operating Margin % is 8.14 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Games Workshop Group's current Operating Margin % is 42.28%, which is 21% above median its own 10-year median of 34.87. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Games Workshop Group stock overvalued right now?
Based on GuruFocus' analysis, Games Workshop Group (LSE:GAW) is currently considered Significantly Overvalued. The stock's GF Value™ is £147.20, compared to a current price of £218.00 — trading 48.1% above its estimated fair value. The current Operating Margin % is 42.28%, which is 21% above median its 10-year median of 34.87 and 419.7% above the Travel & Leisure industry median of 8.14. Games Workshop Group's overall GF Score™ is 95/100 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 Games Workshop Group (LSE:GAW), the current Operating Margin % is 42.28% as of Nov. 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 Games Workshop Group (LSE:GAW) Overvalued in 2026?
Based on GuruFocus' analysis, Games Workshop Group stock appears to be overvalued.
The current stock price of £218.00 is trading 48.1% above its estimated GF Value™ of £147.20.
GuruFocus considers Games Workshop Group to be Significantly Overvalued.
Key valuation signals for LSE:GAW:
Operating Margin %: 42.28% (21% above median its 10-year median of 34.87)
GF Value™: £147.20 vs. price of £218.00 (48.1% above fair value)
Industry Position: 419.7% above the Travel & Leisure median (#21 of 844)
No single metric tells the full story. See the LSE:GAW stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Games Workshop Group PLC designs, manufactures and sells fantasy miniatures and games related products. It carries the manufacturing activity in the UK and sells the same in the different region of the countries such as Continental Europe, North America, and Asia Pacific. It operates through two segments Core and Licensing . The core segment includes all revenue and expenditure relating to the design, manufacture and sales of their fantasy miniatures and related products. The licensing segment includes all revenue and expenditure relating to licences granted to external partners. The company generates majority of its revenue from the core segment.
95GF Score
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