Kernel HoldingWAR:KER -0.31%63 Operating Margin % is 10.58% as of Mar. 2026, which is 0% below its 10-year median of 10.61. GuruFocus rates WAR:KER with a GF Score™ of 63/100 and a GF Value™ of zł13.28 (Significantly Overvalued). The stock has 1 warning sign investors should review. Among 310 Retail - Defensive companies, Kernel Holding ranks better than 87.1% on this metric.
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.
Kernel Holding Operating Margin % Related Terms
Kernel Holding Operating Margin % Historical Data
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The historical data trend for Kernel Holding'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.
WAR:KER vs SYY, USFD, PFGC: Operating Margin % Comparison
For the Food Distribution subindustry, Kernel Holding'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.
Kernel Holding Operating Margin % vs Retail - Defensive Industry
For the Retail - Defensive industry and Consumer Defensive sector, Kernel Holding's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Kernel Holding'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.
Kernel Holding'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.
Kernel Holding (WAR:KER) has a Operating Margin % of 10.58% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Kernel Holding and its competitors. This is near median its historical median of 10.61. Over the past decade, Kernel Holding's Operating Margin % has ranged from 5.83 to 13.71. According to the industry distribution chart, Kernel Holding ranks #40 out of 310 companies in the Retail - Defensive industry, placing it in the top 12.9%.
Is Kernel Holding's Operating Margin % too high?
Kernel Holding's current Operating Margin % of 10.58% is near median its 10-year median of 10.61. Over the past 10 years, this metric has ranged from a low of 5.83 to a high of 13.71. The Retail - Defensive industry median Operating Margin % is 3.28. Kernel Holding's value of 10.58% is 223.1% above this industry median. Based on the distribution chart, Kernel Holding ranks #40 out of 310 companies in the Retail - Defensive industry, which is in the top quartile — a strong position relative to peers. Overall, Kernel Holding has a GF Score™ of 63/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Kernel Holding's Operating Margin % compare to SYY and USFD?
According to the Retail - Defensive industry distribution chart, Kernel Holding ranks #40 out of 310 companies for Operating Margin %. This places Kernel Holding in the top 13% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 3.28. Kernel Holding's value of 10.58% is 223.1% above this benchmark. Historically, Kernel Holding's own Operating Margin % has ranged from 5.83 to 13.71 over the past decade. While the company's 10-year median is 10.61 vs. the industry median of 3.28, Kernel Holding 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 - Defensive company?
The median Operating Margin % among Retail - Defensive companies is 3.28, based on 310 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. Kernel Holding's current Operating Margin % of 10.58% is 223.1% 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 Kernel Holding and its competitors. For the Retail - Defensive industry, the median Operating Margin % is 3.28 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Kernel Holding's current Operating Margin % is 10.58%, which is near median its own 10-year median of 10.61. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Kernel Holding stock overvalued right now?
Based on GuruFocus' analysis, Kernel Holding (WAR:KER) is currently considered Significantly Overvalued. The stock's GF Value™ is zł13.28, compared to a current price of zł19.44 — trading 46.4% above its estimated fair value. The current Operating Margin % is 10.58%, which is near median its 10-year median of 10.61 and 223.1% above the Retail - Defensive industry median of 3.28. Kernel Holding's overall GF Score™ is 63/100 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 Kernel Holding (WAR:KER), the current Operating Margin % is 10.58% 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 Kernel Holding (WAR:KER) Overvalued in 2026?
Based on GuruFocus' analysis, Kernel Holding stock appears to be overvalued.
The current stock price of zł19.44 is trading 46.4% above its estimated GF Value™ of zł13.28.
GuruFocus considers Kernel Holding to be Significantly Overvalued.
Key valuation signals for WAR:KER:
Operating Margin %: 10.58% (near median its 10-year median of 10.61)
GF Value™: zł13.28 vs. price of zł19.44 (46.4% above fair value)
Industry Position: 223.1% above the Retail - Defensive median (#40 of 310)
No single metric tells the full story. See the WAR:KER stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Kernel Holding SA is an investment holding company. The company's segment includes Oilseed Processing; Infrastructure and Trading and Farming. It generates maximum revenue from the Infrastructure and Trading segment. The Infrastructure and Trading segment includes sourcing and merchandising of wholesale edible oils, grain, provision of silo services, grain handling and transshipment services.
63GF Score
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