Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
KeyenceTSE:6861 +0.63%100 Operating Margin % is 53.97% as of Jun. 2026, which is 3% above its 10-year median of 52.26. GuruFocus rates TSE:6861 with a GF Score™ of 100/100 and a GF Value™ of 円82,528.61 (Fairly Valued). Among 2,472 Hardware companies, Keyence ranks better than 99.64% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. Keyence's Operating Income for the
three
months ended in Jun. 2026 was 円187,076 Mil. Keyence's Revenue for the
three
months ended in Jun. 2026 was 円346,621 Mil. Therefore, Keyence's Operating Margin % for the quarter that ended in Jun. 2026 was 53.97%.
The historical rank and industry rank for Keyence's Operating Margin % or its related term are showing as below:
TSE:6861'
s Operating Margin % Range Over the Past 10 Years
Min: 50.31 Med: 52.26 Max: 55.59
Current: 50.95
TSE:6861's Operating Margin % is ranked better than 99.64% of 2472
companies
in the Hardware industry
Industry Median: 3.92
vs TSE:6861: 50.95
Keyence's 5-Year Average Operating Margin % Growth Rate was -0.80% per year.
Keyence's Operating Income for the
three
months ended in Jun. 2026 was 円187,076 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Jun. 2026 was 円653,534 Mil.
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.
Keyence Operating Margin % Related Terms
Keyence Operating Margin % Historical Data
* Premium members only.
The historical data trend for Keyence'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.
TSE:6861 vs GRMN, COHR, KEYS: Operating Margin % Comparison
For the Scientific & Technical Instruments subindustry, Keyence'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.
Keyence Operating Margin % vs Hardware Industry
For the Hardware industry and Technology sector, Keyence's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Keyence'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.
Keyence's Operating Margin % for the fiscal year that ended in Mar. 2026 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.
Keyence (TSE:6861) has a Operating Margin % of 53.97% as of Jun. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Keyence and its competitors. This is near median its historical median of 52.26. Over the past decade, Keyence's Operating Margin % has ranged from 50.31 to 55.59. According to the industry distribution chart, Keyence ranks #9 out of 2472 companies in the Hardware industry, placing it in the top 0.40000000000001%.
Is Keyence's Operating Margin % too high?
Keyence's current Operating Margin % of 53.97% is near median its 10-year median of 52.26. Over the past 10 years, this metric has ranged from a low of 50.31 to a high of 55.59. The Hardware industry median Operating Margin % is 3.92. Keyence's value of 53.97% is 1276.8% above this industry median. Based on the distribution chart, Keyence ranks #9 out of 2472 companies in the Hardware industry, which is in the top quartile — a strong position relative to peers. Overall, Keyence has a GF Score™ of 100/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Keyence's Operating Margin % compare to GRMN and COHR?
According to the Hardware industry distribution chart, Keyence ranks #9 out of 2472 companies for Operating Margin %. This places Keyence in the top 0% of its industry — outperforming the majority of peers. The industry median Operating Margin % is 3.92. Keyence's value of 53.97% is 1276.8% above this benchmark. Historically, Keyence's own Operating Margin % has ranged from 50.31 to 55.59 over the past decade. While the company's 10-year median is 52.26 vs. the industry median of 3.92, Keyence 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 Hardware company?
The median Operating Margin % among Hardware companies is 3.92, based on 2,472 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. Keyence's current Operating Margin % of 53.97% is 1276.8% 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 Keyence and its competitors. For the Hardware industry, the median Operating Margin % is 3.92 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Keyence's current Operating Margin % is 53.97%, which is near median its own 10-year median of 52.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Keyence stock overvalued right now?
Based on GuruFocus' analysis, Keyence (TSE:6861) is currently considered Fairly Valued. The stock's GF Value™ is 円82,528.61, compared to a current price of 円76,580.00 — trading 7.2% below its estimated fair value. The current Operating Margin % is 53.97%, which is near median its 10-year median of 52.26 and 1276.8% above the Hardware industry median of 3.92. Keyence's overall GF Score™ is 100/100. 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 Keyence (TSE:6861), the current Operating Margin % is 53.97% 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 Keyence (TSE:6861) Overvalued in 2026?
Based on GuruFocus' analysis, Keyence stock appears to be undervalued.
The current stock price of 円76,580.00 is trading 7.2% below its estimated GF Value™ of 円82,528.61.
GuruFocus considers Keyence to be Fairly Valued.
Key valuation signals for TSE:6861:
Operating Margin %: 53.97% (near median its 10-year median of 52.26)
GF Value™: 円82,528.61 vs. price of 円76,580.00 (7.2% below fair value)
Industry Position: 1276.8% above the Hardware median (#9 of 2472)
No single metric tells the full story. See the TSE:6861 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Keyence Corp is a Japanese manufacturer of industrial automation and inspection equipment. Its product lines include photoelectric, laser, and proximity sensors; machine vision and barcode reading systems; laser displacement sensors, 3D scanners, and other measurement instruments; programmable logic controllers and human-machine interfaces; laser markers; digital microscopes; and safety devices. The company serves manufacturers across sectors such as electronics, semiconductors, automotive, machine tools, and packaging, selling through a direct sales model in which its own engineers visit customer sites to demonstrate products and provide support. It operates through subsidiaries and sales offices in Japan, the Americas, Europe, and Asia, with overseas markets accounting for a majority of revenue. Keyence manufactures in Japan and generates revenue primarily from product sales, supplemented by after-sales service and maintenance.
100GF Score
Get the complete analysis for TSE:6861
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
TSE:6861 has been successfully added to your 
