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NGL Energy Partners LPNGL -0.39%41 Operating Margin % is 4.86% as of Mar. 2026, which is 66% above its 10-year median of 2.93. GuruFocus rates NGL with a GF Score™ of 41/100 and a GF Value™ of $4.39 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 917 Oil & Gas companies, NGL Energy Partners LP ranks better than 60.09% on this metric.
NGL Energy Partners LP (NYSE:NGL) 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.
NGL Energy Partners LP Operating Margin % Related Terms
NGL Energy Partners LP Operating Margin % Historical Data
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The historical data trend for NGL Energy Partners LP'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.
NGL vs GEL, TNK, FLNG: Operating Margin % Comparison
For the Oil & Gas Midstream subindustry, NGL Energy Partners LP'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.
NGL Energy Partners LP Operating Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, NGL Energy Partners LP's Operating Margin % distribution charts can be found below:
* The bar in red indicates where NGL Energy Partners LP's Operating Margin % falls into.
NGL Energy Partners LP 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.
NGL Energy Partners LP'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.
NGL Energy Partners LP (NGL) has a Operating Margin % of 4.86% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on NGL Energy Partners LP and its competitors. This is 66% above median its historical median of 2.93. According to the industry distribution chart, NGL Energy Partners LP ranks #366 out of 917 companies in the Oil & Gas industry, placing it in the top 39.9%.
Is NGL Energy Partners LP's Operating Margin % too high?
NGL Energy Partners LP's current Operating Margin % of 4.86% is 66% above median its 10-year median of 2.93. The Oil & Gas industry median Operating Margin % is 6.97. NGL Energy Partners LP's value of 4.86% is 30.3% below this industry median. Based on the distribution chart, NGL Energy Partners LP ranks #366 out of 917 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, NGL Energy Partners LP has a GF Score™ of 41/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NGL Energy Partners LP's Operating Margin % compare to GEL and TNK?
According to the Oil & Gas industry distribution chart, NGL Energy Partners LP ranks #366 out of 917 companies for Operating Margin %. This puts NGL Energy Partners LP in the upper half of its industry. The industry median Operating Margin % is 6.97. NGL Energy Partners LP's value of 4.86% is 30.3% below this benchmark. While the company's 10-year median is 2.93 vs. the industry median of 6.97, NGL Energy Partners LP 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 an Oil & Gas company?
The median Operating Margin % among Oil & Gas companies is 6.97, based on 917 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. NGL Energy Partners LP's current Operating Margin % of 4.86% is 30.3% 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 NGL Energy Partners LP and its competitors. For the Oil & Gas industry, the median Operating Margin % is 6.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NGL Energy Partners LP's current Operating Margin % is 4.86%, which is 66% above median its own 10-year median of 2.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NGL Energy Partners LP stock overvalued right now?
Based on GuruFocus' analysis, NGL Energy Partners LP (NGL) is currently considered Significantly Overvalued. The stock's GF Value™ is $4.39, compared to a current price of $15.30 — trading 248.5% above its estimated fair value. The current Operating Margin % is 4.86%, which is 66% above median its 10-year median of 2.93 and 30.3% below the Oil & Gas industry median of 6.97. NGL Energy Partners LP's overall GF Score™ is 41/100 with 6 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 NGL Energy Partners LP (NGL), the current Operating Margin % is 4.86% 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 NGL Energy Partners LP (NGL) Overvalued in 2026?
Based on GuruFocus' analysis, NGL Energy Partners LP stock appears to be overvalued.
The current stock price of $15.30 is trading 248.5% above its estimated GF Value™ of $4.39.
GuruFocus considers NGL Energy Partners LP to be Significantly Overvalued.
Key valuation signals for NGL:
Operating Margin %: 4.86% (66% above median its 10-year median of 2.93)
GF Value™: $4.39 vs. price of $15.30 (248.5% above fair value)
Industry Position: 30.3% below the Oil & Gas median (#366 of 917)
No single metric tells the full story. See the NGL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NGL Energy Partners LP is a USA-based firm that owns and operates a vertically integrated energy business. The company's operating segments include Crude Oil Logistics, Water Solutions, and Liquids Logistics. It operates crude oil Logistics, owns pipeline injection stations, and offers services for the treatment and disposal of wastewater generated from crude oil and natural gas production, as well as for the disposal of solids, such as tank bottoms and drilling fluids. The firm also supplies natural gas liquids to retailers, wholesalers, refiners, and petrochemical plants and sells propane and distillates.
41GF Score
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