China MobileMEX:941N 76 Operating Margin % is 10.87% as of Mar. 2026, which is 29% below its 10-year median of 15.38. GuruFocus rates MEX:941N with a GF Score™ of 76/100 and a GF Value™ of MXN203.56. The stock has 5 warning signs investors should review. Among 367 Telecommunication Services companies, China Mobile ranks better than 62.4% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. China Mobile's Operating Income for the
three
months ended in Mar. 2026 was MXN75,808 Mil. China Mobile's Revenue for the
three
months ended in Mar. 2026 was MXN697,221 Mil. Therefore, China Mobile's Operating Margin % for the quarter that ended in Mar. 2026 was 10.87%.
The historical rank and industry rank for China Mobile's Operating Margin % or its related term are showing as below:
MEX:941N'
s Operating Margin % Range Over the Past 10 Years
Min: 14.31 Med: 15.38 Max: 18.42
Current: 14.63
MEX:941N's Operating Margin % is ranked better than 62.4% of 367
companies
in the Telecommunication Services industry
Industry Median: 9.73
vs MEX:941N: 14.63
China Mobile's 5-Year Average Operating Margin % Growth Rate was -0.20% per year.
China Mobile's Operating Income for the
three
months ended in Mar. 2026 was MXN75,808 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was MXN400,447 Mil.
China Mobile (MEX:941N) 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.
China Mobile Operating Margin % Related Terms
China Mobile Operating Margin % Historical Data
* Premium members only.
The historical data trend for China Mobile'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.
MEX:941N vs TMUS, VZ, T: Operating Margin % Comparison
For the Telecom Services subindustry, China Mobile'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.
China Mobile Operating Margin % vs Telecommunication Services Industry
For the Telecommunication Services industry and Communication Services sector, China Mobile's Operating Margin % distribution charts can be found below:
* The bar in red indicates where China Mobile'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.
China Mobile's Operating Margin % for the fiscal year that ended in Dec. 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.
China Mobile (MEX:941N) has a Operating Margin % of 10.87% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on China Mobile and its competitors. This is 29% below median its historical median of 15.38. Over the past decade, China Mobile's Operating Margin % has ranged from 14.31 to 18.42. According to the industry distribution chart, China Mobile ranks #138 out of 367 companies in the Telecommunication Services industry, placing it in the top 37.6%.
Is China Mobile's Operating Margin % too high?
China Mobile's current Operating Margin % of 10.87% is 29% below median its 10-year median of 15.38. Over the past 10 years, this metric has ranged from a low of 14.31 to a high of 18.42. The Telecommunication Services industry median Operating Margin % is 9.73. China Mobile's value of 10.87% is 11.7% above this industry median. Based on the distribution chart, China Mobile ranks #138 out of 367 companies in the Telecommunication Services industry, which is above the industry midpoint. Overall, China Mobile has a GF Score™ of 76/100, reflecting its overall financial health beyond just this single metric.
How does China Mobile's Operating Margin % compare to TMUS and VZ?
According to the Telecommunication Services industry distribution chart, China Mobile ranks #138 out of 367 companies for Operating Margin %. This puts China Mobile in the upper half of its industry. The industry median Operating Margin % is 9.73. China Mobile's value of 10.87% is 11.7% above this benchmark. Historically, China Mobile's own Operating Margin % has ranged from 14.31 to 18.42 over the past decade. While the company's 10-year median is 15.38 vs. the industry median of 9.73, China Mobile 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 Telecommunication Services company?
The median Operating Margin % among Telecommunication Services companies is 9.73, based on 367 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. China Mobile's current Operating Margin % of 10.87% is 11.7% 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 China Mobile and its competitors. For the Telecommunication Services industry, the median Operating Margin % is 9.73 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. China Mobile's current Operating Margin % is 10.87%, which is 29% below median its own 10-year median of 15.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is China Mobile stock overvalued right now?
China Mobile (MEX:941N) has a current Operating Margin % of 10.87%. The stock's GF Value™ is MXN203.56, compared to a current price of MXN167.00 — trading 18% below its estimated fair value. The current Operating Margin % is 10.87%, which is 29% below median its 10-year median of 15.38 and 11.7% above the Telecommunication Services industry median of 9.73. China Mobile's overall GF Score™ is 76/100 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 China Mobile (MEX:941N), the current Operating Margin % is 10.87% 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 China Mobile (MEX:941N) Overvalued in 2026?
Based on GuruFocus' analysis, China Mobile stock appears to be undervalued.
The current stock price of MXN167.00 is trading 18% below its estimated GF Value™ of MXN203.56.
Key valuation signals for MEX:941N:
Operating Margin %: 10.87% (29% below median its 10-year median of 15.38)
GF Value™: MXN203.56 vs. price of MXN167.00 (18% below fair value)
Industry Position: 11.7% above the Telecommunication Services median (#138 of 367)
No single metric tells the full story. See the MEX:941N stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
China Mobile is not only the largest telecom operator in China by the number of mobile subscribers (1 billion) but also the largest in the world. It has 60% of the total wireless market in China and over 50% of the fixed-line broadband market. The firm has largely rolled out its 5G network, having launched 5G service in late 2019. It is doing some 5G network sharing with China Broadnet at 700 MHz and also resells its 3G/4G/5G network through China Broadnet. Growth is being generated through internet data centers where it has the second-largest network in China and through Cloud Services. The company issued stock on the A-share market in 2022 and completed its first buyback of H-shares.
76GF Score
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