Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Hey-SongTPE:1234 +1.04%69 Operating Margin % is 2.01% as of Mar. 2026, which is 64% below its 10-year median of 5.62. GuruFocus rates TPE:1234 with a GF Score™ of 69/100 and a GF Value™ of NT$36.99 (Fairly Valued). The stock has 8 warning signs investors should review. Among 117 Beverages - Non-Alcoholic companies, Hey-Song ranks worse than 69.23% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. Hey-Song's Operating Income for the
three
months ended in Mar. 2026 was NT$47 Mil. Hey-Song's Revenue for the
three
months ended in Mar. 2026 was NT$2,328 Mil. Therefore, Hey-Song's Operating Margin % for the quarter that ended in Mar. 2026 was 2.01%.
Warning Sign:
Hey-Song Corp operating margin has been in a 5-year decline. The average rate of decline per year is -5.4%.
The historical rank and industry rank for Hey-Song's Operating Margin % or its related term are showing as below:
TPE:1234'
s Operating Margin % Range Over the Past 10 Years
Min: 1.71 Med: 5.62 Max: 6.79
Current: 4.38
TPE:1234's Operating Margin % is ranked worse than 69.23% of 117
companies
in the Beverages - Non-Alcoholic industry
Industry Median: 8.97
vs TPE:1234: 4.38
Hey-Song's 5-Year Average Operating Margin % Growth Rate was -5.40% per year.
Hey-Song's Operating Income for the
three
months ended in Mar. 2026 was NT$47 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was NT$451 Mil.
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.
Hey-Song Operating Margin % Related Terms
Hey-Song Operating Margin % Historical Data
* Premium members only.
The historical data trend for Hey-Song'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.
TPE:1234 vs KO, PEP, MNST: Operating Margin % Comparison
For the Beverages - Non-Alcoholic subindustry, Hey-Song'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.
Hey-Song Operating Margin % vs Beverages - Non-Alcoholic Industry
For the Beverages - Non-Alcoholic industry and Consumer Defensive sector, Hey-Song's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Hey-Song'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.
Hey-Song'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.
Hey-Song (TPE:1234) has a Operating Margin % of 2.01% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Hey-Song and its competitors. This is 64% below median its historical median of 5.62. Over the past decade, Hey-Song's Operating Margin % has ranged from 1.71 to 6.79. According to the industry distribution chart, Hey-Song ranks #81 out of 117 companies in the Beverages - Non-Alcoholic industry, placing it in the top 69.2%.
Is Hey-Song's Operating Margin % too high?
Hey-Song's current Operating Margin % of 2.01% is 64% below median its 10-year median of 5.62. Over the past 10 years, this metric has ranged from a low of 1.71 to a high of 6.79. The Beverages - Non-Alcoholic industry median Operating Margin % is 8.97. Hey-Song's value of 2.01% is 77.6% below this industry median. Based on the distribution chart, Hey-Song ranks #81 out of 117 companies in the Beverages - Non-Alcoholic industry, which is below the industry midpoint. Overall, Hey-Song has a GF Score™ of 69/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Hey-Song's Operating Margin % compare to KO and PEP?
According to the Beverages - Non-Alcoholic industry distribution chart, Hey-Song ranks #81 out of 117 companies for Operating Margin %. This places Hey-Song in the lower half of its industry. The industry median Operating Margin % is 8.97. Hey-Song's value of 2.01% is 77.6% below this benchmark. Historically, Hey-Song's own Operating Margin % has ranged from 1.71 to 6.79 over the past decade. While the company's 10-year median is 5.62 vs. the industry median of 8.97, Hey-Song 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 Beverages - Non-Alcoholic company?
The median Operating Margin % among Beverages - Non-Alcoholic companies is 8.97, based on 117 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. Hey-Song's current Operating Margin % of 2.01% is 77.6% 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 Hey-Song and its competitors. For the Beverages - Non-Alcoholic industry, the median Operating Margin % is 8.97 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hey-Song's current Operating Margin % is 2.01%, which is 64% below median its own 10-year median of 5.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hey-Song stock overvalued right now?
Based on GuruFocus' analysis, Hey-Song (TPE:1234) is currently considered Fairly Valued. The stock's GF Value™ is NT$36.99, compared to a current price of NT$34.00 — trading 8.1% below its estimated fair value. The current Operating Margin % is 2.01%, which is 64% below median its 10-year median of 5.62 and 77.6% below the Beverages - Non-Alcoholic industry median of 8.97. Hey-Song's overall GF Score™ is 69/100 with 8 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 Hey-Song (TPE:1234), the current Operating Margin % is 2.01% 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 Hey-Song (TPE:1234) Overvalued in 2026?
Based on GuruFocus' analysis, Hey-Song stock appears to be undervalued.
The current stock price of NT$34.00 is trading 8.1% below its estimated GF Value™ of NT$36.99.
GuruFocus considers Hey-Song to be Fairly Valued.
Key valuation signals for TPE:1234:
Operating Margin %: 2.01% (64% below median its 10-year median of 5.62)
GF Value™: NT$36.99 vs. price of NT$34.00 (8.1% below fair value)
Industry Position: 77.6% below the Beverages - Non-Alcoholic median (#81 of 117)
No single metric tells the full story. See the TPE:1234 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hey-Song Corp is a Taiwanese company engaged in the production and sale of beverages bearing its brand, OEM production and distribution of beverages for other brands, and distribution and sale of domestic and imported liquors. It produces a diversified range of alcoholic and non-alcoholic beverages, including tea, coffee, brandy, wine, whisky, juice, Chinese liquor, and tonic drinks, among others, which are marketed through brands like Black Pine, C&C, Wayne, Kinmen Kaoliang, Hardys, Saint Remy, McLeod, etc. The company's reportable segments are the Beverages business unit-beverages, which generates maximum revenue, the Beverages business unit-liquors, and the Property lease department. Geographically, it generates maximum revenue from Taiwan, followed by China.
69GF Score
Get the complete analysis for TPE:1234
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
TPE:1234 has been successfully added to your 
