Union Steel HoldingsSGX:ZB9 47 Operating Margin % is 4.38% as of Dec. 2025, which is 376% above its 10-year median of 0.92. GuruFocus rates SGX:ZB9 with a GF Score™ of 47/100 and a GF Value™ of S$0.50 (Fairly Valued). The stock has 5 warning signs investors should review. Among 240 Waste Management companies, Union Steel Holdings ranks worse than 62.5% on this metric.
Union Steel Holdings (SGX:ZB9) 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.
Union Steel Holdings Operating Margin % Related Terms
Union Steel Holdings Operating Margin % Historical Data
* Premium members only.
The historical data trend for Union Steel Holdings'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.
SGX:ZB9 vs WM, RSG, WCN: Operating Margin % Comparison
For the Waste Management subindustry, Union Steel Holdings'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.
Union Steel Holdings Operating Margin % vs Waste Management Industry
For the Waste Management industry and Industrials sector, Union Steel Holdings's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Union Steel Holdings's Operating Margin % falls into.
Union Steel Holdings 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.
Union Steel Holdings's Operating Margin % for the fiscal year that ended in Jun. 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.
Union Steel Holdings (SGX:ZB9) has a Operating Margin % of 4.38% as of Dec. 2025. Operating margin is the ratio of total operating income to net sales. View historical data on Union Steel Holdings and its competitors. This is 376% above median its historical median of 0.92. According to the industry distribution chart, Union Steel Holdings ranks #150 out of 240 companies in the Waste Management industry, placing it in the top 62.5%.
Is Union Steel Holdings' Operating Margin % too high?
Union Steel Holdings' current Operating Margin % of 4.38% is 376% above median its 10-year median of 0.92. The Waste Management industry median Operating Margin % is 6.58. Union Steel Holdings' value of 4.38% is 33.4% below this industry median. Based on the distribution chart, Union Steel Holdings ranks #150 out of 240 companies in the Waste Management industry, which is below the industry midpoint. Overall, Union Steel Holdings has a GF Score™ of 47/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Union Steel Holdings' Operating Margin % compare to WM and RSG?
According to the Waste Management industry distribution chart, Union Steel Holdings ranks #150 out of 240 companies for Operating Margin %. This places Union Steel Holdings in the lower half of its industry. The industry median Operating Margin % is 6.58. Union Steel Holdings' value of 4.38% is 33.4% below this benchmark. While the company's 10-year median is 0.92 vs. the industry median of 6.58, Union Steel Holdings 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 Waste Management company?
The median Operating Margin % among Waste Management companies is 6.58, based on 240 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. Union Steel Holdings's current Operating Margin % of 4.38% is 33.4% 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 Union Steel Holdings and its competitors. For the Waste Management industry, the median Operating Margin % is 6.58 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Union Steel Holdings's current Operating Margin % is 4.38%, which is 376% above median its own 10-year median of 0.92. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Union Steel Holdings stock overvalued right now?
Based on GuruFocus' analysis, Union Steel Holdings (SGX:ZB9) is currently considered Fairly Valued. The stock's GF Value™ is S$0.50, compared to a current price of S$0.49 — trading 2% below its estimated fair value. The current Operating Margin % is 4.38%, which is 376% above median its 10-year median of 0.92 and 33.4% below the Waste Management industry median of 6.58. Union Steel Holdings' overall GF Score™ is 47/100 with 5 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 Union Steel Holdings (SGX:ZB9), the current Operating Margin % is 4.38% 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 Union Steel Holdings (SGX:ZB9) Overvalued in 2026?
Based on GuruFocus' analysis, Union Steel Holdings stock appears to be undervalued.
The current stock price of S$0.49 is trading 2% below its estimated GF Value™ of S$0.50.
GuruFocus considers Union Steel Holdings to be Fairly Valued.
Key valuation signals for SGX:ZB9:
Operating Margin %: 4.38% (376% above median its 10-year median of 0.92)
GF Value™: S$0.50 vs. price of S$0.49 (2% below fair value)
Industry Position: 33.4% below the Waste Management median (#150 of 240)
No single metric tells the full story. See the SGX:ZB9 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Union Steel Holdings Ltd is an investment holding company. Its operating segments are Metals, which include import and export of scrap metals, waste collection services, trading, and leasing of metal products.; Scaffolding that provides scaffolding services and related consultancy services; Engineering, including civil construction and engineering work, manufacturing of motor vehicle bodies, and sale and rental of marine deck equipment; and Others that include income from the rental of properties. The company generates the majority of revenue from the Metals segment. Geographically, the company operates mainly in Singapore, followed by India, Thailand, Malaysia, Indonesia, Pakistan, China, Bangladesh, and Other Countries.
47GF Score
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