GM Leather SpAMIL:GML 63 Operating Margin % is 0.38% as of Dec. 2025, which is 96% below its 10-year median of 8.49. GuruFocus rates MIL:GML with a GF Score™ of 63/100 and a GF Value™ of €1.20 (Possible Value Trap). The stock has 9 warning signs investors should review. Among 1,042 Manufacturing - Apparel & Accessories companies, GM Leather SpA ranks better than 52.02% on this metric.
GM Leather SpA operating margin has been in a 5-year decline. The average rate of decline per year is -5.8%.
The historical rank and industry rank for GM Leather SpA's Operating Margin % or its related term are showing as below:
MIL:GML'
s Operating Margin % Range Over the Past 10 Years
Min: 4.52 Med: 8.49 Max: 10
Current: 4.52
MIL:GML's Operating Margin % is ranked better than 52.02% of 1042
companies
in the Manufacturing - Apparel & Accessories industry
Industry Median: 4.085
vs MIL:GML: 4.52
GM Leather SpA's 5-Year Average Operating Margin % Growth Rate was -5.80% per year.
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.
GM Leather SpA Operating Margin % Related Terms
GM Leather SpA Operating Margin % Historical Data
* Premium members only.
The historical data trend for GM Leather SpA'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.
For the Textile Manufacturing subindustry, GM Leather SpA'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.
GM Leather SpA Operating Margin % vs Manufacturing - Apparel & Accessories Industry
For the Manufacturing - Apparel & Accessories industry and Consumer Cyclical sector, GM Leather SpA's Operating Margin % distribution charts can be found below:
* The bar in red indicates where GM Leather SpA'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.
GM Leather SpA'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.
GM Leather SpA (MIL:GML) has a Operating Margin % of 0.38% as of Dec. 2025. Operating margin is the ratio of total operating income to net sales. View historical data on GM Leather SpA and its competitors. This is 96% below median its historical median of 8.49. Over the past decade, GM Leather SpA's Operating Margin % has ranged from 4.52 to 10.00. According to the industry distribution chart, GM Leather SpA ranks #500 out of 1042 companies in the Manufacturing - Apparel & Accessories industry, placing it in the top 48%.
Is GM Leather SpA's Operating Margin % too high?
GM Leather SpA's current Operating Margin % of 0.38% is 96% below median its 10-year median of 8.49. Over the past 10 years, this metric has ranged from a low of 4.52 to a high of 10.00. The Manufacturing - Apparel & Accessories industry median Operating Margin % is 4.09. GM Leather SpA's value of 0.38% is 90.7% below this industry median. Based on the distribution chart, GM Leather SpA ranks #500 out of 1042 companies in the Manufacturing - Apparel & Accessories industry, which is above the industry midpoint. Overall, GM Leather SpA has a GF Score™ of 63/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does GM Leather SpA's Operating Margin % compare to AIN?
According to the Manufacturing - Apparel & Accessories industry distribution chart, GM Leather SpA ranks #500 out of 1042 companies for Operating Margin %. This puts GM Leather SpA in the upper half of its industry. The industry median Operating Margin % is 4.09. GM Leather SpA's value of 0.38% is 90.7% below this benchmark. Historically, GM Leather SpA's own Operating Margin % has ranged from 4.52 to 10.00 over the past decade. While the company's 10-year median is 8.49 vs. the industry median of 4.09, GM Leather SpA 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 Manufacturing - Apparel & Accessories company?
The median Operating Margin % among Manufacturing - Apparel & Accessories companies is 4.09, based on 1,042 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. GM Leather SpA's current Operating Margin % of 0.38% is 90.7% 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 GM Leather SpA and its competitors. For the Manufacturing - Apparel & Accessories industry, the median Operating Margin % is 4.09 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. GM Leather SpA's current Operating Margin % is 0.38%, which is 96% below median its own 10-year median of 8.49. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is GM Leather SpA stock overvalued right now?
Based on GuruFocus' analysis, GM Leather SpA (MIL:GML) is currently considered Possible Value Trap. The stock's GF Value™ is €1.20, compared to a current price of €0.69 — trading 42.9% below its estimated fair value. The current Operating Margin % is 0.38%, which is 96% below median its 10-year median of 8.49 and 90.7% below the Manufacturing - Apparel & Accessories industry median of 4.09. GM Leather SpA's overall GF Score™ is 63/100 with 9 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 GM Leather SpA (MIL:GML), the current Operating Margin % is 0.38% as of Dec. 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 GM Leather SpA (MIL:GML) Overvalued in 2026?
Based on GuruFocus' analysis, GM Leather SpA stock appears to be undervalued.
The current stock price of €0.69 is trading 42.9% below its estimated GF Value™ of €1.20.
GuruFocus considers GM Leather SpA to be Possible Value Trap.
Key valuation signals for MIL:GML:
Operating Margin %: 0.38% (96% below median its 10-year median of 8.49)
GF Value™: €1.20 vs. price of €0.69 (42.9% below fair value)
Industry Position: 90.7% below the Manufacturing - Apparel & Accessories median (#500 of 1042)
No single metric tells the full story. See the MIL:GML stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
GM Leather SpA engages in the treatment, processing, and marketing of bovine leather. Its products are predominantly intended for the furniture, leather goods, and footwear industries. Geographically, the company derives its maximum revenue from non-EU countries followed by Italy and EU countries.
63GF Score
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