TRX GoldTSX:TRX +3.39%61 Operating Margin % is 46.99% as of Feb. 2026, which is 74% above its 10-year median of 27.03. GuruFocus rates TSX:TRX with a GF Score™ of 61/100 and a GF Value™ of C$1.63 (Modestly Undervalued). The stock has 1 warning sign investors should review. Among 841 Metals & Mining companies, TRX Gold ranks better than 89.89% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. TRX Gold's Operating Income for the
three
months ended in Feb. 2026 was C$21.9 Mil. TRX Gold's Revenue for the
three
months ended in Feb. 2026 was C$46.5 Mil. Therefore, TRX Gold's Operating Margin % for the quarter that ended in Feb. 2026 was 46.99%.
The historical rank and industry rank for TRX Gold's Operating Margin % or its related term are showing as below:
TSX:TRX'
s Operating Margin % Range Over the Past 10 Years
Min: 3.04 Med: 27.03 Max: 44.32
Current: 44.32
TSX:TRX's Operating Margin % is ranked better than 89.89% of 841
companies
in the Metals & Mining industry
Industry Median: 5.79
vs TSX:TRX: 44.32
TRX Gold's 5-Year Average Operating Margin % Growth Rate was 0.00% per year.
TRX Gold's Operating Income for the
three
months ended in Feb. 2026 was C$21.9 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Feb. 2026 was C$58.3 Mil.
TRX Gold (TSX:TRX) 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.
TRX Gold Operating Margin % Related Terms
TRX Gold Operating Margin % Historical Data
* Premium members only.
The historical data trend for TRX Gold'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.
For the Gold subindustry, TRX Gold'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.
TRX Gold Operating Margin % vs Metals & Mining Industry
For the Metals & Mining industry and Basic Materials sector, TRX Gold's Operating Margin % distribution charts can be found below:
* The bar in red indicates where TRX Gold'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.
TRX Gold's Operating Margin % for the fiscal year that ended in Aug. 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.
TRX Gold (TSX:TRX) has a Operating Margin % of 46.99% as of Feb. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on TRX Gold and its competitors. This is 74% above median its historical median of 27.03. Over the past decade, TRX Gold's Operating Margin % has ranged from 3.04 to 44.32. According to the industry distribution chart, TRX Gold ranks #85 out of 841 companies in the Metals & Mining industry, placing it in the top 10.1%.
Is TRX Gold's Operating Margin % too high?
TRX Gold's current Operating Margin % of 46.99% is 74% above median its 10-year median of 27.03. Over the past 10 years, this metric has ranged from a low of 3.04 to a high of 44.32. The Metals & Mining industry median Operating Margin % is 5.79. TRX Gold's value of 46.99% is 711.6% above this industry median. Based on the distribution chart, TRX Gold ranks #85 out of 841 companies in the Metals & Mining industry, which is in the top quartile — a strong position relative to peers. Overall, TRX Gold has a GF Score™ of 61/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does TRX Gold's Operating Margin % compare to NEM and AU?
According to the Metals & Mining industry distribution chart, TRX Gold ranks #85 out of 841 companies for Operating Margin %. This places TRX Gold in the top 10% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 5.79. TRX Gold's value of 46.99% is 711.6% above this benchmark. Historically, TRX Gold's own Operating Margin % has ranged from 3.04 to 44.32 over the past decade. While the company's 10-year median is 27.03 vs. the industry median of 5.79, TRX Gold 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 Metals & Mining company?
The median Operating Margin % among Metals & Mining companies is 5.79, based on 841 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. TRX Gold's current Operating Margin % of 46.99% is 711.6% 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 TRX Gold and its competitors. For the Metals & Mining industry, the median Operating Margin % is 5.79 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. TRX Gold's current Operating Margin % is 46.99%, which is 74% above median its own 10-year median of 27.03. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is TRX Gold stock overvalued right now?
Based on GuruFocus' analysis, TRX Gold (TSX:TRX) is currently considered Modestly Undervalued. The stock's GF Value™ is C$1.63, compared to a current price of C$1.22 — trading 25.2% below its estimated fair value. The current Operating Margin % is 46.99%, which is 74% above median its 10-year median of 27.03 and 711.6% above the Metals & Mining industry median of 5.79. TRX Gold's overall GF Score™ is 61/100 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 TRX Gold (TSX:TRX), the current Operating Margin % is 46.99% 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 TRX Gold (TSX:TRX) Overvalued in 2026?
Based on GuruFocus' analysis, TRX Gold stock appears to be undervalued.
The current stock price of C$1.22 is trading 25.2% below its estimated GF Value™ of C$1.63.
GuruFocus considers TRX Gold to be Modestly Undervalued.
Key valuation signals for TSX:TRX:
Operating Margin %: 46.99% (74% above median its 10-year median of 27.03)
GF Value™: C$1.63 vs. price of C$1.22 (25.2% below fair value)
Industry Position: 711.6% above the Metals & Mining median (#85 of 841)
No single metric tells the full story. See the TSX:TRX stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
TRX Gold Corp is engaged in the exploration, development, and production of mineral property interests in the United Republic of Tanzania, focused on development and mining operations, and on exploring and evaluating its mineral properties. The business of exploring and mining for minerals involves a high degree of risk, and the underlying value of the mineral properties depends on the existence and economic recovery of mineral resources and reserves, as well as the ability to raise long-term financing to continue development. The company is focused on the Buckreef Gold Project, which comprises five prospects: Buckreef, Bingwa, Tembo, Eastern Porphyry, and Buziba, and includes three main mineralized zones: Buckreef South, Buckreef Main, and Buckreef North.
61GF Score
Get the complete analysis for TSX:TRX
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
TSX:TRX has been successfully added to your 
