Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the operating margin high or low?
The operating margin of 18.40% is in line with its 5-year average of 18.03%, around the middle of its 5-year range (11.14%–25.41%).
As of the fiscal period ended Tuesday, March 31, 2026. 17.83% above its 12-month average of 15.61%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
18.40%
OPERATING MARGIN AVG TTM
15.61%
OPERATING MARGIN AVG 3Y
15.76%
OPERATING MARGIN AVG 5Y
18.03%
OPERATING MARGIN AVG 10Y
19.30%
OPERATING MARGIN AVG 15Y
19.18%
OPERATING MARGIN AVG 20Y
19.99%
CURRENT VS TTM AVG
+17.83%
CURRENT VS 3Y AVG
+16.74%
CURRENT VS 5Y AVG
+2.03%
CURRENT VS 10Y AVG
-4.67%
CURRENT VS 15Y AVG
-4.11%
CURRENT VS 20Y AVG
-7.96%
SECTOR MEDIAN · UTILITIES
21.18%
median of 43 covered companies
CURRENT VS SECTOR MEDIAN
-13.14%
vs the sector median at left
The AES Corporation
Market Cap
$10.47B
Operating Margin
18.40%
TTM Avg
15.61%
3Y Avg
15.76%
5Y Avg
18.03%
Market Cap
$10.15B
Operating Margin
11.33%
TTM Avg
15.88%
3Y Avg
20.68%
5Y Avg
27.41%
Market Cap
$12.24B
Operating Margin
27.54%
TTM Avg
20.34%
3Y Avg
18.79%
5Y Avg
19.72%
Market Cap
$8.31B
Operating Margin
13.13%
TTM Avg
13.31%
3Y Avg
42.54%
5Y Avg
36.45%
Market Cap
$15.29B
Operating Margin
0.61%
TTM Avg
4.29%
3Y Avg
4.08%
5Y Avg
-1.76%
Market Cap
$5.44B
Operating Margin
23.30%
TTM Avg
23.46%
3Y Avg
21.26%
5Y Avg
21.88%
Market Cap
$3.24B
Operating Margin
18.76%
TTM Avg
16.91%
3Y Avg
14.91%
5Y Avg
15.52%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| The AES Corporation (AES) | $10.47B | 18.40% | 15.61% | 15.76% | 18.03% |
| Brookfield Renewable Partners L.P. (BEP)vs › | $10.15B | 11.33% | 15.88% | 20.68% | 27.41% |
| Pinnacle West Capital Corporation (PNW)vs › | $12.24B | 27.54% | 20.34% | 18.79% | 19.72% |
| Clearway Energy, Inc. (CWEN-A)vs › | $8.31B | 13.13% | 13.31% | 42.54% | 36.45% |
| UGI Corporation (UGI)vs › | $7.68B | 13.26% | 12.93% | 6.55% | 12.12% |
| Oklo Inc. (OKLO)vs › | $7.45B | 0.00% | 0.00% | 0.00% | 0.00% |
| Talen Energy Corporation (TLN)vs › | $15.29B | 0.61% | 4.29% | 4.08% | -1.76% |
| Black Hills Corporation (BKH)vs › | $5.44B | 23.30% | 23.46% | 21.26% | 21.88% |
| Avista Corporation (AVA)vs › | $3.24B | 18.76% | 16.91% | 14.91% | 15.52% |
| Fluence Energy, Inc. (FLNC)vs › | $2.81B | -1.90% | -0.53% | -7.45% | -8.84% |
Gross Margin
19.3%
Operating Margin
18.4%
Operating Margin = Operating Income / Revenue
Operating margin is the percentage of revenue remaining after operating expenses, reflecting operating efficiency.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | OPERATING MARGIN |
|---|---|
| 2026-03-31 | 18.40% |
| 2025-12-31 | 16.54% |
| 2025-09-30 | 16.53% |
| 2025-06-30 | 14.19% |
| 2025-03-31 | 12.41% |
| 2024-12-31 | 11.14% |
| 2024-09-30 | 20.19% |
| 2024-06-30 | 16.55% |
| 2024-03-31 | 17.67% |
| 2023-12-31 | 14.52% |
| 2023-09-30 | 24.84% |
| 2023-06-30 | 14.30% |
| 2023-03-31 | 16.67% |
| 2022-12-31 | 16.24% |
| 2022-09-30 | 23.33% |
| 2022-06-30 | 16.83% |
| 2022-03-31 | 16.82% |
| 2021-12-31 | 18.84% |
| 2021-09-30 | 23.71% |
| 2021-06-30 | 25.41% |
| 2021-03-31 | 23.49% |
| 2020-12-31 | 33.59% |
| 2020-09-30 | 28.13% |
| 2020-06-30 | 21.78% |
| 2020-03-31 | 20.10% |
| 2019-12-31 | 20.64% |
| 2019-09-30 | 25.18% |
| 2019-06-30 | 18.28% |
| 2019-03-31 | 20.72% |
| 2018-12-31 | 22.43% |
| 2018-09-30 | 22.20% |
| 2018-06-30 | 22.34% |
| 2018-03-31 | 22.05% |
| 2017-12-31 | 22.01% |
| 2017-09-30 | 21.56% |
| 2017-06-30 | 21.93% |
| 2017-03-31 | 15.48% |
| 2016-12-31 | 16.70% |
| 2016-09-30 | 18.31% |
| 2016-06-30 | 17.93% |
| 2016-03-31 | 15.48% |
| 2015-12-31 | 16.70% |
| 2015-09-30 | 18.31% |
| 2015-06-30 | 19.28% |
| 2015-03-31 | 17.72% |
| 2014-12-31 | 16.19% |
| 2014-09-30 | 16.26% |
| 2014-06-30 | 17.79% |
| 2014-03-31 | 17.43% |
| 2013-12-31 | 15.97% |
| 2013-09-30 | 21.87% |
| 2013-06-30 | 21.50% |
| 2013-03-31 | 16.75% |
| 2012-12-31 | 18.69% |
| 2012-09-30 | 20.73% |
| 2012-06-30 | 15.14% |
| 2012-03-31 | 21.48% |
| 2011-12-31 | 24.22% |
| 2011-09-30 | 21.36% |
| 2011-06-30 | 20.18% |
| 2011-03-31 | 21.61% |
| 2010-12-31 | 20.39% |
| 2010-09-30 | 21.78% |
| 2010-06-30 | 22.97% |
| 2010-03-31 | 22.47% |
| 2009-12-31 | 19.57% |
| 2009-09-30 | 24.26% |
| 2009-06-30 | 21.76% |
| 2009-03-31 | 23.31% |
| 2008-12-31 | 19.68% |
| 2008-09-30 | 19.59% |
| 2008-06-30 | 22.54% |
| 2008-03-31 | 23.13% |
| 2007-12-31 | 19.38% |
| 2007-09-30 | 20.55% |
| 2007-06-30 | 23.95% |
| 2007-03-31 | 24.91% |
| 2006-12-31 | 13.81% |
| 2006-09-30 | 25.76% |
| 2006-06-30 | 27.57% |
| 2006-03-31 | 30.53% |
| 2005-12-31 | 28.62% |
| 2005-09-30 | 30.74% |
| 2005-06-30 | 18.16% |
| 2005-03-31 | 29.10% |
| 2004-12-31 | 26.03% |
| 2004-09-30 | 28.57% |
| 2004-06-30 | 27.14% |
| 2004-03-31 | 27.96% |
| 2003-12-31 | 31.38% |
| 2003-09-30 | 21.83% |
| 2003-06-30 | 19.84% |
| 2003-03-31 | 28.52% |
| 2002-12-31 | -72.07% |
| 2002-09-30 | 3.69% |
| 2002-06-30 | 17.32% |
