Multi Commodity Exchange of India (NSE:MCX) 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.
Multi Commodity Exchange of India Operating Margin % Related Terms
Multi Commodity Exchange of India Operating Margin % Historical Data
* 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.
Multi Commodity Exchange of India Operating Margin % Chart
NSE:MCX vs SPGI, CME, ICE: Operating Margin % Comparison
For the Financial Data & Stock Exchanges subindustry, Multi Commodity Exchange of India'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.
Multi Commodity Exchange of India Operating Margin % vs Capital Markets Industry
For the Capital Markets industry and Financial Services sector, Multi Commodity Exchange of India's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Multi Commodity Exchange of India's Operating Margin % falls into.
Multi Commodity Exchange of India 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.
* 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.
Multi Commodity Exchange of India (NSE:MCX) has a Operating Margin % of 72.79% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Multi Commodity Exchange of India and its competitors. This is 94% above median its historical median of 37.50. Over the past decade, Multi Commodity Exchange of India's Operating Margin % has ranged from 5.63 to 68.14. According to the industry distribution chart, Multi Commodity Exchange of India ranks #64 out of 664 companies in the Capital Markets industry, placing it in the top 9.6%.
Is Multi Commodity Exchange of India's Operating Margin % too high?
Multi Commodity Exchange of India's current Operating Margin % of 72.79% is 94% above median its 10-year median of 37.50. Over the past 10 years, this metric has ranged from a low of 5.63 to a high of 68.14. The Capital Markets industry median Operating Margin % is 6.96. Multi Commodity Exchange of India's value of 72.79% is 946.6% above this industry median. Based on the distribution chart, Multi Commodity Exchange of India ranks #64 out of 664 companies in the Capital Markets industry, which is in the top quartile — a strong position relative to peers. Overall, Multi Commodity Exchange of India has a GF Score™ of 90/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Multi Commodity Exchange of India's Operating Margin % compare to SPGI and CME?
According to the Capital Markets industry distribution chart, Multi Commodity Exchange of India ranks #64 out of 664 companies for Operating Margin %. This places Multi Commodity Exchange of India in the top 10% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 6.96. Multi Commodity Exchange of India's value of 72.79% is 946.6% above this benchmark. Historically, Multi Commodity Exchange of India's own Operating Margin % has ranged from 5.63 to 68.14 over the past decade. While the company's 10-year median is 37.50 vs. the industry median of 6.96, Multi Commodity Exchange of India 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 Capital Markets company?
The median Operating Margin % among Capital Markets companies is 6.96, based on 664 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. Multi Commodity Exchange of India's current Operating Margin % of 72.79% is 946.6% 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 Multi Commodity Exchange of India and its competitors. For the Capital Markets industry, the median Operating Margin % is 6.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Multi Commodity Exchange of India's current Operating Margin % is 72.79%, which is 94% above median its own 10-year median of 37.50. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Multi Commodity Exchange of India stock overvalued right now?
Based on GuruFocus' analysis, Multi Commodity Exchange of India (NSE:MCX) is currently considered Modestly Undervalued. The stock's GF Value™ is ₹3,271.66, compared to a current price of ₹2,831.70 — trading 13.4% below its estimated fair value. The current Operating Margin % is 72.79%, which is 94% above median its 10-year median of 37.50 and 946.6% above the Capital Markets industry median of 6.96. Multi Commodity Exchange of India's overall GF Score™ is 90/100. 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 Multi Commodity Exchange of India (NSE:MCX), the current Operating Margin % is 72.79% 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 Multi Commodity Exchange of India (NSE:MCX) Overvalued in 2026?
Based on GuruFocus' analysis, Multi Commodity Exchange of India stock appears to be undervalued.
The current stock price of ₹2,831.70 is trading 13.4% below its estimated GF Value™ of ₹3,271.66.
GuruFocus considers Multi Commodity Exchange of India to be Modestly Undervalued.
Key valuation signals for NSE:MCX:
Operating Margin %: 72.79% (94% above median its 10-year median of 37.50)
GF Value™: ₹3,271.66 vs. price of ₹2,831.70 (13.4% below fair value)
Industry Position: 946.6% above the Capital Markets median (#64 of 664)
No single metric tells the full story. See the NSE:MCX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Multi Commodity Exchange of India Business Description
Multi Commodity Exchange of India Ltd is an India-based deemed Stock Exchange recognized under the Securities Contracts (Regulation) Act, 1956. The company facilitates online trading, and clearing and settlement of commodity futures transactions, thereby providing a platform for risk management. The company is a demutualized Exchange and has permanent recognition from the Government of India to facilitate nationwide online trading, clearing, and settlement operations of commodity derivatives. The company derives its revenues from transaction fees, admission fees, annual subscription fees, terminal charges, connectivity income, interest income, dividends from and gains on the sale of investments and other miscellaneous income.
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