Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
Is the operating margin high or low?
The operating margin of 35.00% is in line with its 5-year average of 35.71%, near the low end of its 5-year range (27.91%–57.61%).
1.29% below its 12-month average of 35.46%.
Reported quarterly operating margin; no daily interpolation. Q2 FY2026 (2026-06-30): 41.28%.
OPERATING MARGIN
35.00%
OPERATING MARGIN AVG TTM
35.46%
OPERATING MARGIN AVG 3Y
32.93%
OPERATING MARGIN AVG 5Y
35.71%
OPERATING MARGIN AVG 10Y
36.65%
OPERATING MARGIN AVG 15Y
35.68%
OPERATING MARGIN AVG 20Y
33.48%
CURRENT VS TTM AVG
-1.29%
CURRENT VS 3Y AVG
+6.28%
CURRENT VS 5Y AVG
-2.00%
CURRENT VS 10Y AVG
-4.51%
CURRENT VS 15Y AVG
-1.90%
CURRENT VS 20Y AVG
+4.55%
SECTOR MEDIAN · FINANCIAL SERVICES
18.19%
median of 359 covered companies
CURRENT VS SECTOR MEDIAN
+92.41%
vs the sector median at left
Commerce Bancshares, Inc.
Market Cap
$8.04B
Operating Margin
35.00%
TTM Avg
35.46%
3Y Avg
32.93%
5Y Avg
35.71%
Market Cap
$8.16B
Operating Margin
26.78%
TTM Avg
23.80%
3Y Avg
24.56%
5Y Avg
6.39%
Market Cap
$7.79B
Operating Margin
23.41%
TTM Avg
20.61%
3Y Avg
24.17%
5Y Avg
27.95%
Market Cap
$7.66B
Operating Margin
43.49%
TTM Avg
41.47%
3Y Avg
41.47%
5Y Avg
41.47%
Market Cap
$7.57B
Operating Margin
35.90%
TTM Avg
33.14%
3Y Avg
30.23%
5Y Avg
28.61%
Market Cap
$7.33B
Operating Margin
-101.10%
TTM Avg
-77.76%
3Y Avg
-122.25%
5Y Avg
-83.27%
Market Cap
$8.89B
Operating Margin
3.48%
TTM Avg
6.71%
3Y Avg
7.46%
5Y Avg
16.68%
Market Cap
$7.07B
Operating Margin
14.48%
TTM Avg
16.79%
3Y Avg
22.39%
5Y Avg
27.74%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Commerce Bancshares, Inc. (CBSH) | $8.04B | 35.00% | 35.46% | 32.93% | 35.71% |
| Columbia Banking System, Inc. (COLB)vs › | $8.16B | 26.78% | 23.80% | 24.56% | 6.39% |
| BOK Financial Corporation (BOKF)vs › | $7.79B | 23.41% | 20.61% | 24.17% | 27.95% |
| Central Bancompany (CBC)vs › | $7.66B | 43.49% | 41.47% | 41.47% | 41.47% |
| Kinsale Capital Group, Inc. (KNSL)vs › | $7.57B | 35.90% | 33.14% | 30.23% | 28.61% |
| Galaxy Digital (GLXY)vs › | $7.51B | 0.80% | 1.29% | 0.65% | 0.43% |
| TeraWulf Inc. (WULF)vs › | $7.33B | -101.10% | -77.76% | -122.25% | -83.27% |
| Voya Financial, Inc. (VOYA)vs › | $8.89B | 3.48% | 6.71% | 7.46% | 16.68% |
| Valley National Bancorp (VLY)vs › | $7.07B | 14.48% | 16.79% | 22.39% | 27.74% |
| FirstCash Holdings, Inc (FCFS)vs › | $9.17B | 16.11% | 14.32% | 12.85% | 12.50% |
Operating Margin
35.0%
Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.
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 |
|---|---|
| 2026-06-30 | 41.28% |
| 2026-03-31 | 31.72% |
| 2025-12-31 | 33.77% |
| 2025-09-30 | 34.00% |
| 2025-06-30 | 36.51% |
| 2025-03-31 | 32.50% |
| 2024-12-31 | 33.06% |
| 2024-09-30 | 33.37% |
| 2024-06-30 | 34.30% |
| 2024-03-31 | 29.00% |
| 2023-12-31 | 27.91% |
| 2023-09-30 | 30.71% |
| 2023-06-30 | 33.31% |
| 2023-03-31 | 34.37% |
| 2022-12-31 | 38.91% |
| 2022-09-30 | 39.58% |
| 2022-06-30 | 40.19% |
| 2022-03-31 | 43.32% |
| 2021-12-31 | 42.79% |
| 2021-09-30 | 43.64% |
| 2021-06-30 | 57.61% |
| 2021-03-31 | 46.49% |
| 2020-12-31 | 45.64% |
| 2020-09-30 | 45.47% |
| 2020-06-30 | 14.81% |
| 2020-03-31 | 18.01% |
| 2019-12-31 | 36.63% |
| 2019-09-30 | 37.68% |
| 2019-06-30 | 37.53% |
| 2019-03-31 | 34.44% |
| 2018-12-31 | 38.27% |
| 2018-09-30 | 39.89% |
| 2018-06-30 | 40.54% |
| 2018-03-31 | 37.85% |
| 2017-12-31 | 32.60% |
| 2017-09-30 | 34.57% |
| 2017-06-30 | 36.12% |
| 2017-03-31 | 32.55% |
| 2016-12-31 | 34.36% |
| 2016-09-30 | 33.73% |
| 2016-06-30 | 34.25% |
| 2016-03-31 | 32.70% |
| 2015-12-31 | 32.41% |
| 2015-09-30 | 33.28% |
| 2015-06-30 | 37.57% |
| 2015-03-31 | 34.07% |
| 2014-12-31 | 33.80% |
| 2014-09-30 | 36.27% |
| 2014-06-30 | 35.28% |
| 2014-03-31 | 34.51% |
| 2013-12-31 | 35.58% |
| 2013-09-30 | 37.61% |
| 2013-06-30 | 35.85% |
| 2013-03-31 | 34.99% |
| 2012-12-31 | 35.09% |
| 2012-09-30 | 37.02% |
| 2012-06-30 | 38.19% |
| 2012-03-31 | 37.13% |
| 2011-12-31 | 33.91% |
| 2011-09-30 | 35.42% |
| 2011-06-30 | 36.28% |
| 2011-03-31 | 32.55% |
| 2010-12-31 | 29.95% |
| 2010-09-30 | 29.19% |
| 2010-06-30 | 30.31% |
| 2010-03-31 | 22.40% |
| 2009-12-31 | 23.32% |
| 2009-09-30 | 24.73% |
| 2009-06-30 | 17.67% |
| 2009-03-31 | 15.56% |
| 2008-12-31 | 22.87% |
| 2008-09-30 | 11.20% |
| 2008-06-30 | 26.75% |
| 2008-03-31 | 28.22% |
| 2007-12-31 | 18.30% |
| 2007-09-30 | 24.30% |
| 2007-06-30 | 25.13% |
| 2007-03-31 | 23.73% |
| 2006-12-31 | 25.99% |
| 2006-09-30 | 25.91% |
| 2006-06-30 | 28.45% |
| 2006-03-31 | 28.33% |
| 2005-12-31 | 27.91% |
| 2005-09-30 | 30.67% |
| 2005-06-30 | 32.53% |
| 2005-03-31 | 31.41% |
| 2004-12-31 | 30.77% |
| 2004-09-30 | 32.76% |
| 2004-06-30 | 35.29% |
| 2004-03-31 | 33.99% |
| 2003-12-31 | 33.10% |
| 2003-09-30 | 32.31% |
| 2003-06-30 | 31.79% |
| 2003-03-31 | 29.57% |
| 2002-12-31 | 31.78% |
| 2002-09-30 | 32.63% |
