EcopetrolMEX:EC N 66 Operating Margin % is 29.92% as of Mar. 2026, which is 3% above its 10-year median of 29.07. GuruFocus rates MEX:EC N with a GF Score™ of 66/100 and a GF Value™ of MXN186.04 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 916 Oil & Gas companies, Ecopetrol ranks better than 78.6% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. Ecopetrol's Operating Income for the
three
months ended in Mar. 2026 was MXN42,020 Mil. Ecopetrol's Revenue for the
three
months ended in Mar. 2026 was MXN140,450 Mil. Therefore, Ecopetrol's Operating Margin % for the quarter that ended in Mar. 2026 was 29.92%.
Good Sign:
Ecopetrol SA operating margin is expanding. Margin expansion is usually a good sign.
The historical rank and industry rank for Ecopetrol's Operating Margin % or its related term are showing as below:
MEX:EC N'
s Operating Margin % Range Over the Past 10 Years
Min: 13.57 Med: 29.07 Max: 38.36
Current: 23.74
MEX:EC N's Operating Margin % is ranked better than 78.6% of 916
companies
in the Oil & Gas industry
Industry Median: 6.86
vs MEX:EC N: 23.74
Ecopetrol's 5-Year Average Operating Margin % Growth Rate was 5.40% per year.
Ecopetrol's Operating Income for the
three
months ended in Mar. 2026 was MXN42,020 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was MXN132,645 Mil.
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.
Ecopetrol Operating Margin % Related Terms
Ecopetrol Operating Margin % Historical Data
* Premium members only.
The historical data trend for Ecopetrol'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:EC N vs XOM, CVX: Operating Margin % Comparison
For the Oil & Gas Integrated subindustry, Ecopetrol'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.
Ecopetrol Operating Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Ecopetrol's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Ecopetrol'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.
Ecopetrol'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.
Ecopetrol (MEX:EC N) has a Operating Margin % of 29.92% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Ecopetrol and its competitors. This is near median its historical median of 29.07. Over the past decade, Ecopetrol's Operating Margin % has ranged from 13.57 to 38.36. According to the industry distribution chart, Ecopetrol ranks #196 out of 916 companies in the Oil & Gas industry, placing it in the top 21.4%.
Is Ecopetrol's Operating Margin % too high?
Ecopetrol's current Operating Margin % of 29.92% is near median its 10-year median of 29.07. Over the past 10 years, this metric has ranged from a low of 13.57 to a high of 38.36. The Oil & Gas industry median Operating Margin % is 6.86. Ecopetrol's value of 29.92% is 336.2% above this industry median. Based on the distribution chart, Ecopetrol ranks #196 out of 916 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Ecopetrol has a GF Score™ of 66/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Ecopetrol's Operating Margin % compare to XOM and CVX?
According to the Oil & Gas industry distribution chart, Ecopetrol ranks #196 out of 916 companies for Operating Margin %. This places Ecopetrol in the top 21% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 6.86. Ecopetrol's value of 29.92% is 336.2% above this benchmark. Historically, Ecopetrol's own Operating Margin % has ranged from 13.57 to 38.36 over the past decade. While the company's 10-year median is 29.07 vs. the industry median of 6.86, Ecopetrol 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 an Oil & Gas company?
The median Operating Margin % among Oil & Gas companies is 6.86, based on 916 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. Ecopetrol's current Operating Margin % of 29.92% is 336.2% 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 Ecopetrol and its competitors. For the Oil & Gas industry, the median Operating Margin % is 6.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Ecopetrol's current Operating Margin % is 29.92%, which is near median its own 10-year median of 29.07. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Ecopetrol stock overvalued right now?
Based on GuruFocus' analysis, Ecopetrol (MEX:EC N) is currently considered Significantly Overvalued. The stock's GF Value™ is MXN186.04, compared to a current price of MXN280.47 — trading 50.8% above its estimated fair value. The current Operating Margin % is 29.92%, which is near median its 10-year median of 29.07 and 336.2% above the Oil & Gas industry median of 6.86. Ecopetrol's overall GF Score™ is 66/100 with 7 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 Ecopetrol (MEX:EC N), the current Operating Margin % is 29.92% 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 Ecopetrol (MEX:EC N) Overvalued in 2026?
Based on GuruFocus' analysis, Ecopetrol stock appears to be overvalued.
The current stock price of MXN280.47 is trading 50.8% above its estimated GF Value™ of MXN186.04.
GuruFocus considers Ecopetrol to be Significantly Overvalued.
Key valuation signals for MEX:EC N:
Operating Margin %: 29.92% (near median its 10-year median of 29.07)
GF Value™: MXN186.04 vs. price of MXN280.47 (50.8% above fair value)
Industry Position: 336.2% above the Oil & Gas median (#196 of 916)
No single metric tells the full story. See the MEX:EC N stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Ecopetrol SA is engaged in commercial and industrial activities related to the exploration, exploitation, refining, transportation, storage, distribution, and marketing of hydrocarbons, their derivatives, and products, as well as the electric power transmission services, design, development, construction, operation, and maintenance of road and energy infrastructure projects and the provision of information technology and telecommunications services. The operations of the company are performed through four business segments: Exploration and Production, Transport and Logistics, Refining and Petrochemical, and Electric Power Transmission and Toll Roads Concessions. The majority of the company's revenue is generated from the Exploration and Production segment.
66GF Score
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