Tubos Reunidos (XMAD:TRG) Operating Margin %: -19.28% (As of Dec. 2025)


XMAD:TRG Tubos Reunidos SA XMAD:TRG
17 GF Score
Price €0.14
GF Value €0.49
Valuation Possible Value Trap
! 4 Warning Signs
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What is Tubos Reunidos Operating Margin %?

Tubos Reunidos XMAD:TRG 17 Operating Margin % is -19.28% as of Dec. 2025. GuruFocus rates XMAD:TRG with a GF Score™ of 17/100 and a GF Value™ of €0.49 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 616 Steel companies, Tubos Reunidos ranks worse than 91.72% on this metric.

Operating Margin % is calculated as Operating Income divided by its Revenue. Tubos Reunidos's Operating Income for the six months ended in Dec. 2025 was €-30.8 Mil. Tubos Reunidos's Revenue for the six months ended in Dec. 2025 was €160.0 Mil. Therefore, Tubos Reunidos's Operating Margin % for the quarter that ended in Dec. 2025 was -19.28%.

The historical rank and industry rank for Tubos Reunidos's Operating Margin % or its related term are showing as below:

XMAD:TRG' s Operating Margin % Range Over the Past 10 Years
Min: -35.63   Med: -9.58   Max: 16.75
Current: -11.41


XMAD:TRG's Operating Margin % is ranked worse than
91.72% of 616 companies
in the Steel industry
Industry Median: 3 vs XMAD:TRG: -11.41

Tubos Reunidos's 5-Year Average Operating Margin % Growth Rate was 0.00% per year.

Tubos Reunidos's Operating Income for the six months ended in Dec. 2025 was €-30.8 Mil. Its Operating Income for the trailing twelve months (TTM) ended in Dec. 2025 was €-41.7 Mil.


Tubos Reunidos  (XMAD:TRG) 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 Nokia’s 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.


Tubos Reunidos Operating Margin % Related Terms


Tubos Reunidos Operating Margin % Historical Data

* Premium members only.

The historical data trend for Tubos Reunidos'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.

Tubos Reunidos Operating Margin % Chart

Tubos Reunidos Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Operating Margin %
Get a 7-Day Free Trial Premium Member Only Premium Member Only -26.66 9.44 16.75 -3.06 -10.85

Tubos Reunidos Semi-Annual Data
Jun16 Dec16 Jun17 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Operating Margin % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.86 -2.71 -3.24 -5.28 -19.28

XMAD:TRG vs NUE, STLD, RS: Operating Margin % Comparison

For the Steel subindustry, Tubos Reunidos'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.


Tubos Reunidos Operating Margin % vs Steel Industry

For the Steel industry and Basic Materials sector, Tubos Reunidos's Operating Margin % distribution charts can be found below:

* The bar in red indicates where Tubos Reunidos's Operating Margin % falls into.


XMAD:TRG
17GF Score
Tubos Reunidos SA XMAD:TRG
Operating Margin % is just one metric. See GF Score™, valuation, warning signs, and more.
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Tubos Reunidos Operating Margin % Calculation

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.

Tubos Reunidos's Operating Margin % for the fiscal year that ended in Dec. 2025 is calculated as

Operating Margin %=Operating Income (A: Dec. 2025 ) / Revenue (A: Dec. 2025 )
=-39.693 / 365.715
=-10.85 %

Tubos Reunidos's Operating Margin % for the quarter that ended in Dec. 2025 is calculated as

Operating Margin %=Operating Income (Q: Dec. 2025 ) / Revenue (Q: Dec. 2025 )
=-30.848 / 159.963
=-19.28 %

* 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.

Frequently Asked Questions Learn more about Operating Margin % →
What does a Operating Margin % of -19.28% mean?
Tubos Reunidos (XMAD:TRG) has a Operating Margin % of -19.28% as of Dec. 2025. Operating margin is the ratio of total operating income to net sales. View historical data on Tubos Reunidos and its competitors. According to the industry distribution chart, Tubos Reunidos ranks #565 out of 616 companies in the Steel industry, placing it in the top 91.7%.
Is Tubos Reunidos' Operating Margin % too high?
Tubos Reunidos' current Operating Margin % is -19.28%. Based on the distribution chart, Tubos Reunidos ranks #565 out of 616 companies in the Steel industry, which is in the bottom quartile relative to peers. Overall, Tubos Reunidos has a GF Score™ of 17/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Tubos Reunidos' Operating Margin % compare to NUE and STLD?
According to the Steel industry distribution chart, Tubos Reunidos ranks #565 out of 616 companies for Operating Margin %. This places Tubos Reunidos in the lower half of its industry. The industry median Operating Margin % is 3.00. 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 Steel company?
The median Operating Margin % among Steel companies is 3.00, based on 616 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. 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 Tubos Reunidos and its competitors. For the Steel industry, the median Operating Margin % is 3.00 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tubos Reunidos's current Operating Margin % is -19.28%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tubos Reunidos stock overvalued right now?
Based on GuruFocus' analysis, Tubos Reunidos (XMAD:TRG) is currently considered Possible Value Trap. The stock's GF Value™ is €0.49, compared to a current price of €0.14 — trading 70.7% below its estimated fair value. The current Operating Margin % is -19.28%. Tubos Reunidos' overall GF Score™ is 17/100 with 4 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 Tubos Reunidos (XMAD:TRG), the current Operating Margin % is -19.28% as of Dec. 2025. 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 Tubos Reunidos (XMAD:TRG) Overvalued in 2026?

Based on GuruFocus' analysis, Tubos Reunidos stock appears to be undervalued. The current stock price of €0.14 is trading 70.7% below its estimated GF Value™ of €0.49. GuruFocus considers Tubos Reunidos to be Possible Value Trap.

Key valuation signals for XMAD:TRG:

  • Operating Margin %: -19.28%
  • GF Value™: €0.49 vs. price of €0.14 (70.7% below fair value)
  • GF Score™: 17/100 with 4 warning signs

No single metric tells the full story. See the XMAD:TRG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Tubos Reunidos Business Description

Other Exchanges 0KD2:UKTU1:Germany
Address Barrio de Sagarribai, 2, Amurrio, Alava, ESP, 01470
Tubos Reunidos SA is a holding company. The company operates in the areas of the seamless tube, distribution, automotive and other sectors. Its products are essentially required by the energy sector; Oil and Gas, electrical power generation and petrochemical industry, as well as by machinery and special industrial applications. The product portfolio includes tubes manufactured in carbon, alloyed, high allowed and stainless, steels.
17GF Score

Get the complete analysis for XMAD:TRG

Operating Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€0.14
Price
€0.49
GF Value