Neste OYJNTOIY -2.93%78 Operating Margin % is 13.09% as of Mar. 2026, which is 53% above its 10-year median of 8.53. GuruFocus rates NTOIY with a GF Score™ of 78/100 and a GF Value™ of $10.76 (Significantly Overvalued). The stock has 6 warning signs investors should review. Among 916 Oil & Gas companies, Neste OYJ ranks worse than 52.84% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. Neste OYJ's Operating Income for the
three
months ended in Mar. 2026 was $782 Mil. Neste OYJ's Revenue for the
three
months ended in Mar. 2026 was $5,969 Mil. Therefore, Neste OYJ's Operating Margin % for the quarter that ended in Mar. 2026 was 13.09%.
Warning Sign:
Neste OYJ operating margin has been in a 5-year decline. The average rate of decline per year is -48.7%.
The historical rank and industry rank for Neste OYJ's Operating Margin % or its related term are showing as below:
NTOIY'
s Operating Margin % Range Over the Past 10 Years
Min: 0.06 Med: 8.53 Max: 14.11
Current: 5.76
NTOIY's Operating Margin % is ranked worse than 52.84% of 916
companies
in the Oil & Gas industry
Industry Median: 6.86
vs NTOIY: 5.76
Neste OYJ's 5-Year Average Operating Margin % Growth Rate was -48.70% per year.
Neste OYJ's Operating Income for the
three
months ended in Mar. 2026 was $782 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $1,283 Mil.
Warning Sign:
Neste OYJ has recorded a loss in operating income at least once over the past 3 years.
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.
Neste OYJ Operating Margin % Related Terms
Neste OYJ Operating Margin % Historical Data
* Premium members only.
The historical data trend for Neste OYJ'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.
NTOIY vs VLO, MPC, PSX: Operating Margin % Comparison
For the Oil & Gas Refining & Marketing subindustry, Neste OYJ'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.
Neste OYJ Operating Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Neste OYJ's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Neste OYJ'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.
Neste OYJ'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.
Neste OYJ (NTOIY) has a Operating Margin % of 13.09% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Neste OYJ and its competitors. This is 53% above median its historical median of 8.53. Over the past decade, Neste OYJ's Operating Margin % has ranged from 0.06 to 14.11. According to the industry distribution chart, Neste OYJ ranks #484 out of 916 companies in the Oil & Gas industry, placing it in the top 52.8%.
Is Neste OYJ's Operating Margin % too high?
Neste OYJ's current Operating Margin % of 13.09% is 53% above median its 10-year median of 8.53. Over the past 10 years, this metric has ranged from a low of 0.06 to a high of 14.11. The Oil & Gas industry median Operating Margin % is 6.86. Neste OYJ's value of 13.09% is 90.8% above this industry median. Based on the distribution chart, Neste OYJ ranks #484 out of 916 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Neste OYJ has a GF Score™ of 78/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Neste OYJ's Operating Margin % compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, Neste OYJ ranks #484 out of 916 companies for Operating Margin %. This places Neste OYJ in the lower half of its industry. The industry median Operating Margin % is 6.86. Neste OYJ's value of 13.09% is 90.8% above this benchmark. Historically, Neste OYJ's own Operating Margin % has ranged from 0.06 to 14.11 over the past decade. While the company's 10-year median is 8.53 vs. the industry median of 6.86, Neste OYJ 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. Neste OYJ's current Operating Margin % of 13.09% is 90.8% 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 Neste OYJ 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. Neste OYJ's current Operating Margin % is 13.09%, which is 53% above median its own 10-year median of 8.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Neste OYJ stock overvalued right now?
Based on GuruFocus' analysis, Neste OYJ (NTOIY) is currently considered Significantly Overvalued. The stock's GF Value™ is $10.76, compared to a current price of $14.89 — trading 38.4% above its estimated fair value. The current Operating Margin % is 13.09%, which is 53% above median its 10-year median of 8.53 and 90.8% above the Oil & Gas industry median of 6.86. Neste OYJ's overall GF Score™ is 78/100 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 Neste OYJ (NTOIY), the current Operating Margin % is 13.09% 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 Neste OYJ (NTOIY) Overvalued in 2026?
Based on GuruFocus' analysis, Neste OYJ stock appears to be overvalued.
The current stock price of $14.89 is trading 38.4% above its estimated GF Value™ of $10.76.
GuruFocus considers Neste OYJ to be Significantly Overvalued.
Key valuation signals for NTOIY:
Operating Margin %: 13.09% (53% above median its 10-year median of 8.53)
GF Value™: $10.76 vs. price of $14.89 (38.4% above fair value)
Industry Position: 90.8% above the Oil & Gas median (#484 of 916)
No single metric tells the full story. See the NTOIY stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Neste OYJ is a producer of renewable diesel and sustainable aviation fuel (SAF), with production on three continents. The group also produces oil products and has a network of several fuel stations with expanding service offerings, such as EV charging, in Finland and in the Baltics. Neste has three reporting segments: Renewable Products, Oil Products, and Marketing and Services. Maximum revenue is generated from its Oil Products segment, which offers oil products and related services for the road transportation, heavy machinery, agriculture, aviation, and marine sectors, as well as products for the oil and petrochemical industries. Geographically, the group generates maximum revenue from other European countries (excluding Finland), followed by Finland, the USA, and other markets.
78GF Score
Get the complete analysis for NTOIY
Operating Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NTOIY has been successfully added to your 
