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Jadranski Naftovod DDZAG:JNAF 83 Operating Margin % is 45.50% as of Jun. 2026, which is 0% below its 10-year median of 45.65. GuruFocus rates ZAG:JNAF with a GF Score™ of 83/100 and a GF Value™ of €770.33 (Fairly Valued). The stock has 7 warning signs investors should review. Among 929 Oil & Gas companies, Jadranski Naftovod DD ranks better than 86.98% 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.
Jadranski Naftovod DD Operating Margin % Related Terms
Jadranski Naftovod DD Operating Margin % Historical Data
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The historical data trend for Jadranski Naftovod 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:JNAF vs WMB, EPD, KMI: Operating Margin % Comparison
For the Oil & Gas Midstream subindustry, Jadranski Naftovod 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.
Jadranski Naftovod DD Operating Margin % vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Jadranski Naftovod DD's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Jadranski Naftovod 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.
Jadranski Naftovod 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.
Jadranski Naftovod DD (ZAG:JNAF) has a Operating Margin % of 45.50% as of Jun. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Jadranski Naftovod DD and its competitors. This is near median its historical median of 45.65. Over the past decade, Jadranski Naftovod DD's Operating Margin % has ranged from 34.56 to 53.24. According to the industry distribution chart, Jadranski Naftovod DD ranks #121 out of 929 companies in the Oil & Gas industry, placing it in the top 13%.
Is Jadranski Naftovod DD's Operating Margin % too high?
Jadranski Naftovod DD's current Operating Margin % of 45.50% is near median its 10-year median of 45.65. Over the past 10 years, this metric has ranged from a low of 34.56 to a high of 53.24. The Oil & Gas industry median Operating Margin % is 7.17. Jadranski Naftovod DD's value of 45.50% is 534.6% above this industry median. Based on the distribution chart, Jadranski Naftovod DD ranks #121 out of 929 companies in the Oil & Gas industry, which is in the top quartile — a strong position relative to peers. Overall, Jadranski Naftovod DD has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Jadranski Naftovod DD's Operating Margin % compare to WMB and EPD?
According to the Oil & Gas industry distribution chart, Jadranski Naftovod DD ranks #121 out of 929 companies for Operating Margin %. This places Jadranski Naftovod DD in the top 13% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 7.17. Jadranski Naftovod DD's value of 45.50% is 534.6% above this benchmark. Historically, Jadranski Naftovod DD's own Operating Margin % has ranged from 34.56 to 53.24 over the past decade. While the company's 10-year median is 45.65 vs. the industry median of 7.17, Jadranski Naftovod DD 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 an Oil & Gas company?
The median Operating Margin % among Oil & Gas companies is 7.17, based on 929 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. Jadranski Naftovod DD's current Operating Margin % of 45.50% is 534.6% 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 Jadranski Naftovod DD and its competitors. For the Oil & Gas industry, the median Operating Margin % is 7.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Jadranski Naftovod DD's current Operating Margin % is 45.50%, which is near median its own 10-year median of 45.65. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Jadranski Naftovod DD stock overvalued right now?
Based on GuruFocus' analysis, Jadranski Naftovod DD (ZAG:JNAF) is currently considered Fairly Valued. The stock's GF Value™ is €770.33, compared to a current price of €830.00 — trading 7.7% above its estimated fair value. The current Operating Margin % is 45.50%, which is near median its 10-year median of 45.65 and 534.6% above the Oil & Gas industry median of 7.17. Jadranski Naftovod DD's overall GF Score™ is 83/100 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 Jadranski Naftovod DD (ZAG:JNAF), the current Operating Margin % is 45.50% as of Jun. 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 Jadranski Naftovod DD (ZAG:JNAF) Overvalued in 2026?
Based on GuruFocus' analysis, Jadranski Naftovod DD stock appears to be overvalued.
The current stock price of €830.00 is trading 7.7% above its estimated GF Value™ of €770.33.
GuruFocus considers Jadranski Naftovod DD to be Fairly Valued.
Key valuation signals for ZAG:JNAF:
Operating Margin %: 45.50% (near median its 10-year median of 45.65)
GF Value™: €770.33 vs. price of €830.00 (7.7% above fair value)
Industry Position: 534.6% above the Oil & Gas median (#121 of 929)
No single metric tells the full story. See the ZAG:JNAF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Jadranski Naftovod DD is mainly engaged in oil transportation activities and storage of oil and refinery products. The company operates the JANAF system which is an international crude oil transportation system consists of crude oil handling terminals and pipelines in Sisak, Gola, Virje, Sotin and Slavonski Brod and the accompanying pumping and metering stations. It also involved in the reloading and storage of crude oil and oil products as well as provision of engineering and technical advisory services.
83GF Score
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Operating Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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