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Hard Off CoTSE:2674 -1.26%76 Operating Margin % is 9.35% as of Mar. 2026, which is 27% above its 10-year median of 7.35. GuruFocus rates TSE:2674 with a GF Score™ of 76/100 and a GF Value™ of 円2,362.36 (Modestly Overvalued). The stock has 7 warning signs investors should review. Among 1,123 Retail - Cyclical companies, Hard Off Co ranks better than 73.37% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. Hard Off Co's Operating Income for the
six
months ended in Mar. 2026 was 円2,059 Mil. Hard Off Co's Revenue for the
six
months ended in Mar. 2026 was 円22,020 Mil. Therefore, Hard Off Co's Operating Margin % for the quarter that ended in Mar. 2026 was 9.35%.
Good Sign:
Hard Off Corporation Co Ltd operating margin is expanding. Margin expansion is usually a good sign.
The historical rank and industry rank for Hard Off Co's Operating Margin % or its related term are showing as below:
TSE:2674'
s Operating Margin % Range Over the Past 10 Years
Min: 3.74 Med: 7.35 Max: 9.6
Current: 8.62
TSE:2674's Operating Margin % is ranked better than 73.37% of 1123
companies
in the Retail - Cyclical industry
Industry Median: 3.93
vs TSE:2674: 8.62
Hard Off Co's 5-Year Average Operating Margin % Growth Rate was 17.20% per year.
Hard Off Co's Operating Income for the
six
months ended in Mar. 2026 was 円2,059 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was 円3,387 Mil.
Hard Off Co (TSE:2674) 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.
Hard Off Co Operating Margin % Related Terms
Hard Off Co Operating Margin % Historical Data
* Premium members only.
The historical data trend for Hard Off Co'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:2674 vs CASY, WSM, DKS: Operating Margin % Comparison
For the Specialty Retail subindustry, Hard Off Co'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.
Hard Off Co Operating Margin % vs Retail - Cyclical Industry
For the Retail - Cyclical industry and Consumer Cyclical sector, Hard Off Co's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Hard Off Co'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.
Hard Off Co's Operating Margin % for the fiscal year that ended in Mar. 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.
Hard Off Co (TSE:2674) has a Operating Margin % of 9.35% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Hard Off Co and its competitors. This is 27% above median its historical median of 7.35. Over the past decade, Hard Off Co's Operating Margin % has ranged from 3.74 to 9.60. According to the industry distribution chart, Hard Off Co ranks #299 out of 1123 companies in the Retail - Cyclical industry, placing it in the top 26.6%.
Is Hard Off Co's Operating Margin % too high?
Hard Off Co's current Operating Margin % of 9.35% is 27% above median its 10-year median of 7.35. Over the past 10 years, this metric has ranged from a low of 3.74 to a high of 9.60. The Retail - Cyclical industry median Operating Margin % is 3.93. Hard Off Co's value of 9.35% is 137.9% above this industry median. Based on the distribution chart, Hard Off Co ranks #299 out of 1123 companies in the Retail - Cyclical industry, which is above the industry midpoint. Overall, Hard Off Co has a GF Score™ of 76/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Hard Off Co's Operating Margin % compare to CASY and WSM?
According to the Retail - Cyclical industry distribution chart, Hard Off Co ranks #299 out of 1123 companies for Operating Margin %. This puts Hard Off Co in the upper half of its industry. The industry median Operating Margin % is 3.93. Hard Off Co's value of 9.35% is 137.9% above this benchmark. Historically, Hard Off Co's own Operating Margin % has ranged from 3.74 to 9.60 over the past decade. While the company's 10-year median is 7.35 vs. the industry median of 3.93, Hard Off Co 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 Retail - Cyclical company?
The median Operating Margin % among Retail - Cyclical companies is 3.93, based on 1,123 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. Hard Off Co's current Operating Margin % of 9.35% is 137.9% 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 Hard Off Co and its competitors. For the Retail - Cyclical industry, the median Operating Margin % is 3.93 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Hard Off Co's current Operating Margin % is 9.35%, which is 27% above median its own 10-year median of 7.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Hard Off Co stock overvalued right now?
Based on GuruFocus' analysis, Hard Off Co (TSE:2674) is currently considered Modestly Overvalued. The stock's GF Value™ is 円2,362.36, compared to a current price of 円2,659.00 — trading 12.6% above its estimated fair value. The current Operating Margin % is 9.35%, which is 27% above median its 10-year median of 7.35 and 137.9% above the Retail - Cyclical industry median of 3.93. Hard Off Co's overall GF Score™ is 76/100 with 7 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 Hard Off Co (TSE:2674), the current Operating Margin % is 9.35% 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 Hard Off Co (TSE:2674) Overvalued in 2026?
Based on GuruFocus' analysis, Hard Off Co stock appears to be overvalued.
The current stock price of 円2,659.00 is trading 12.6% above its estimated GF Value™ of 円2,362.36.
GuruFocus considers Hard Off Co to be Modestly Overvalued.
Key valuation signals for TSE:2674:
Operating Margin %: 9.35% (27% above median its 10-year median of 7.35)
GF Value™: 円2,362.36 vs. price of 円2,659.00 (12.6% above fair value)
Industry Position: 137.9% above the Retail - Cyclical median (#299 of 1123)
No single metric tells the full story. See the TSE:2674 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Hard Off Corporation Co Ltd is a Japan-based company engaged in the reuse business. Its business activities include the purchase of used and unnecessary items from the customers, carry out repair, maintenance, inspection, and cleaning and sell to the customers. Products offered by the Hard Off Corporation include a personal computer, musical instruments, furniture, clothing for men; women; and children, trading cards, game, plastic model, toy, car supplies, bags and accessories, books, wine, champagne, beer, sake and shochu.
76GF Score
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