GW's financial statement.
![Image](https://preview.redd.it/1s92r3mnnui81.jpg?width=640&crop=smart&auto=webp&s=bdb2840fd1c891a09ae5dba07e25fc66bff0b2fb)
Gross Margin is how much profit they make on sales less the cost of production. So if they sell a box for 10,000 yen, 6904 yen of that is profit.
Operating Margin is how much profit they make after taking away ALL costs (e.g. logistics, staff, marketing, etc.) excluding corporate taxes (which they pay on their profits) and any debts they have. Continuing the above example, from that 10,000 yen box 4141 yen is how much they get to keep before taxes.
The missing line on that statement is Net Profit, which currently stands at 33.33%. Net Profit is what you have left after paying for everything including taxes and debts. So from that 10,000 yen box, the company pockets 3333 yen.
Generally speaking, a 20% Net Profit is considered good. 10% is about average. GW has 33.33%. Make of that what you will.