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DawnTSE:2303 -2.01%86 Operating Margin % is 46.44% as of Feb. 2026, which is 48% above its 10-year median of 31.38. GuruFocus rates TSE:2303 with a GF Score™ of 86/100 and a GF Value™ of 円1,338.10 (Fairly Valued). The stock has 1 warning sign investors should review. Among 2,826 Software companies, Dawn ranks better than 97.17% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. Dawn's Operating Income for the
three
months ended in Feb. 2026 was 円206 Mil. Dawn's Revenue for the
three
months ended in Feb. 2026 was 円444 Mil. Therefore, Dawn's Operating Margin % for the quarter that ended in Feb. 2026 was 46.44%.
Good Sign:
Dawn Corp operating margin is expanding. Margin expansion is usually a good sign.
The historical rank and industry rank for Dawn's Operating Margin % or its related term are showing as below:
TSE:2303'
s Operating Margin % Range Over the Past 10 Years
Min: 15.97 Med: 31.38 Max: 37.77
Current: 37.77
TSE:2303's Operating Margin % is ranked better than 97.17% of 2826
companies
in the Software industry
Industry Median: 3.945
vs TSE:2303: 37.77
Dawn's 5-Year Average Operating Margin % Growth Rate was 4.00% per year.
Dawn's Operating Income for the
three
months ended in Feb. 2026 was 円206 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was 円655 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.
Dawn Operating Margin % Related Terms
Dawn Operating Margin % Historical Data
* Premium members only.
The historical data trend for Dawn'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.
TSE:2303 vs QH, SHOP, UBER: Operating Margin % Comparison
For the Software - Application subindustry, Dawn'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.
Dawn Operating Margin % vs Software Industry
For the Software industry and Technology sector, Dawn's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Dawn'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.
Dawn's Operating Margin % for the fiscal year that ended in May. 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.
Dawn (TSE:2303) has a Operating Margin % of 46.44% as of Feb. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Dawn and its competitors. This is 48% above median its historical median of 31.38. Over the past decade, Dawn's Operating Margin % has ranged from 15.97 to 37.77. According to the industry distribution chart, Dawn ranks #80 out of 2826 companies in the Software industry, placing it in the top 2.8%.
Is Dawn's Operating Margin % too high?
Dawn's current Operating Margin % of 46.44% is 48% above median its 10-year median of 31.38. Over the past 10 years, this metric has ranged from a low of 15.97 to a high of 37.77. The Software industry median Operating Margin % is 3.95. Dawn's value of 46.44% is 1077.2% above this industry median. Based on the distribution chart, Dawn ranks #80 out of 2826 companies in the Software industry, which is in the top quartile — a strong position relative to peers. Overall, Dawn has a GF Score™ of 86/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Dawn's Operating Margin % compare to QH and SHOP?
According to the Software industry distribution chart, Dawn ranks #80 out of 2826 companies for Operating Margin %. This places Dawn in the top 3% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 3.95. Dawn's value of 46.44% is 1077.2% above this benchmark. Historically, Dawn's own Operating Margin % has ranged from 15.97 to 37.77 over the past decade. While the company's 10-year median is 31.38 vs. the industry median of 3.95, Dawn 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 Software company?
The median Operating Margin % among Software companies is 3.95, based on 2,826 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. Dawn's current Operating Margin % of 46.44% is 1077.2% 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 Dawn and its competitors. For the Software industry, the median Operating Margin % is 3.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Dawn's current Operating Margin % is 46.44%, which is 48% above median its own 10-year median of 31.38. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Dawn stock overvalued right now?
Based on GuruFocus' analysis, Dawn (TSE:2303) is currently considered Fairly Valued. The stock's GF Value™ is 円1,338.10, compared to a current price of 円1,319.00 — trading 1.4% below its estimated fair value. The current Operating Margin % is 46.44%, which is 48% above median its 10-year median of 31.38 and 1077.2% above the Software industry median of 3.95. Dawn's overall GF Score™ is 86/100 with 1 warning sign 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 Dawn (TSE:2303), the current Operating Margin % is 46.44% as of Feb. 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 Dawn (TSE:2303) Overvalued in 2026?
Based on GuruFocus' analysis, Dawn stock appears to be undervalued.
The current stock price of 円1,319.00 is trading 1.4% below its estimated GF Value™ of 円1,338.10.
GuruFocus considers Dawn to be Fairly Valued.
Key valuation signals for TSE:2303:
Operating Margin %: 46.44% (48% above median its 10-year median of 31.38)
GF Value™: 円1,338.10 vs. price of 円1,319.00 (1.4% below fair value)
Industry Position: 1077.2% above the Software median (#80 of 2826)
No single metric tells the full story. See the TSE:2303 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Dawn Corp is engaged in service building services such as FAQ Q and A location information service ASP, GPS map, GIS application development consulting contract research and development and sales of core GIS engine. It is a research and development company specialized in geographic information systems. Its system is used in the security and security of disaster prevention areas such as local governments, the crime prevention area for disaster prevention and the social infrastructure area of private enterprises.
86GF Score
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Operating Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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