INA-Industrija Nafte DDZAG:INA 73 Operating Margin % is 0.37% as of Mar. 2026, which is 94% below its 10-year median of 6.47. GuruFocus rates ZAG:INA with a GF Score™ of 73/100 and a GF Value™ of €358.63 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 916 Oil & Gas companies, INA-Industrija Nafte DD ranks worse than 54.59% 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.
INA-Industrija Nafte DD Operating Margin % Related Terms
INA-Industrija Nafte DD Operating Margin % Historical Data
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The historical data trend for INA-Industrija Nafte DD'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.
ZAG:INA vs VLO, MPC, PSX: Operating Margin % Comparison
For the Oil & Gas Refining & Marketing subindustry, INA-Industrija Nafte DD'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.
INA-Industrija Nafte DD Operating Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, INA-Industrija Nafte DD's Operating Margin % distribution charts can be found below:
* The bar in red indicates where INA-Industrija Nafte DD'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.
INA-Industrija Nafte DD's Operating Margin % for the fiscal year that ended in Dec. 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.
INA-Industrija Nafte DD (ZAG:INA) has a Operating Margin % of 0.37% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on INA-Industrija Nafte DD and its competitors. This is 94% below median its historical median of 6.47. According to the industry distribution chart, INA-Industrija Nafte DD ranks #500 out of 916 companies in the Oil & Gas industry, placing it in the top 54.6%.
Is INA-Industrija Nafte DD's Operating Margin % too high?
INA-Industrija Nafte DD's current Operating Margin % of 0.37% is 94% below median its 10-year median of 6.47. The Oil & Gas industry median Operating Margin % is 6.86. INA-Industrija Nafte DD's value of 0.37% is 94.6% below this industry median. Based on the distribution chart, INA-Industrija Nafte DD ranks #500 out of 916 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, INA-Industrija Nafte DD has a GF Score™ of 73/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does INA-Industrija Nafte DD's Operating Margin % compare to VLO and MPC?
According to the Oil & Gas industry distribution chart, INA-Industrija Nafte DD ranks #500 out of 916 companies for Operating Margin %. This places INA-Industrija Nafte DD in the lower half of its industry. The industry median Operating Margin % is 6.86. INA-Industrija Nafte DD's value of 0.37% is 94.6% below this benchmark. While the company's 10-year median is 6.47 vs. the industry median of 6.86, INA-Industrija Nafte DD has consistently been below 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 an Oil & Gas company?
The median Operating Margin % among Oil & Gas companies is 6.86, based on 916 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. INA-Industrija Nafte DD's current Operating Margin % of 0.37% is 94.6% below 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 INA-Industrija Nafte DD and its competitors. For the Oil & Gas industry, the median Operating Margin % is 6.86 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. INA-Industrija Nafte DD's current Operating Margin % is 0.37%, which is 94% below median its own 10-year median of 6.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is INA-Industrija Nafte DD stock overvalued right now?
Based on GuruFocus' analysis, INA-Industrija Nafte DD (ZAG:INA) is currently considered Significantly Overvalued. The stock's GF Value™ is €358.63, compared to a current price of €530.00 — trading 47.8% above its estimated fair value. The current Operating Margin % is 0.37%, which is 94% below median its 10-year median of 6.47 and 94.6% below the Oil & Gas industry median of 6.86. INA-Industrija Nafte DD's overall GF Score™ is 73/100 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 INA-Industrija Nafte DD (ZAG:INA), the current Operating Margin % is 0.37% 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 INA-Industrija Nafte DD (ZAG:INA) Overvalued in 2026?
Based on GuruFocus' analysis, INA-Industrija Nafte DD stock appears to be overvalued.
The current stock price of €530.00 is trading 47.8% above its estimated GF Value™ of €358.63.
GuruFocus considers INA-Industrija Nafte DD to be Significantly Overvalued.
Key valuation signals for ZAG:INA:
Operating Margin %: 0.37% (94% below median its 10-year median of 6.47)
GF Value™: €358.63 vs. price of €530.00 (47.8% above fair value)
Industry Position: 94.6% below the Oil & Gas median (#500 of 916)
No single metric tells the full story. See the ZAG:INA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
INA-Industrija Nafte DD is a medium-sized European oil and gas company. It is engaged in exploration and production of oil and gas deposits, import of natural gas and sale of imported and domestically produced natural gas to industrial consumers and municipal gas distributors, refining and production of oil products through refineries located at Rijeka and Sisak, and Zagreb lubricants plants. Its segments are Exploration and Production of Oil & Gas; Refining & Marketing; Corporate and other. Exploration and Production of Oil & Gas segment include exploration, production, and selling of crude oil and natural gas. Refining & Marketing segment includes crude oil processing, wholesale of refinery products, trading, and logistics.
73GF Score
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