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 3.73% is in line with its 5-year average of 4.07%, around the middle of its 5-year range (2.96%–5.21%).
As of the fiscal period ended Tuesday, June 30, 2026. 6.96% above its 12-month average of 3.49%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
3.73%
OPERATING MARGIN AVG TTM
3.49%
OPERATING MARGIN AVG 3Y
3.76%
OPERATING MARGIN AVG 5Y
4.07%
OPERATING MARGIN AVG 10Y
4.72%
OPERATING MARGIN AVG 15Y
13.08%
OPERATING MARGIN AVG 20Y
6.56%
CURRENT VS TTM AVG
+6.96%
CURRENT VS 3Y AVG
-0.76%
CURRENT VS 5Y AVG
-8.29%
CURRENT VS 10Y AVG
-20.85%
CURRENT VS 15Y AVG
-71.45%
CURRENT VS 20Y AVG
-43.09%
SECTOR MEDIAN · HEALTHCARE
15.48%
median of 79 covered companies
CURRENT VS SECTOR MEDIAN
-75.88%
vs the sector median at left
Market Cap
$69.46B
Operating Margin
21.60%
TTM Avg
17.76%
3Y Avg
16.30%
5Y Avg
14.57%
Market Cap
$78.57B
Operating Margin
24.74%
TTM Avg
26.52%
3Y Avg
32.61%
5Y Avg
38.03%
Market Cap
$81.51B
Operating Margin
3.51%
TTM Avg
4.55%
3Y Avg
4.90%
5Y Avg
5.40%
Market Cap
$87.16B
Operating Margin
15.48%
TTM Avg
15.38%
3Y Avg
15.15%
5Y Avg
15.20%
Market Cap
$60.00B
Operating Margin
10.61%
TTM Avg
11.84%
3Y Avg
11.67%
5Y Avg
10.68%
Market Cap
$53.87B
Operating Margin
0.92%
TTM Avg
0.79%
3Y Avg
0.40%
5Y Avg
-0.13%
Market Cap
$49.56B
Operating Margin
28.09%
TTM Avg
26.16%
3Y Avg
28.11%
5Y Avg
28.79%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Cigna Corporation (CI) | $73.82B | 3.73% | 3.49% | 3.76% | 4.07% |
| Boston Scientific Corporation (BSX)vs › | $69.46B | 21.60% | 17.76% | 16.30% | 14.57% |
| Regeneron Pharmaceuticals, Inc. (REGN)vs › | $78.57B | 24.74% | 26.52% | 32.61% | 38.03% |
| Elevance Health Inc. (ELV)vs › | $81.51B | 3.51% | 4.55% | 4.90% | 5.40% |
| Cencora, Inc. (COR)vs › | $60.57B | 1.28% | 1.08% | 1.06% | 1.09% |
| HCA Healthcare, Inc. (HCA)vs › | $87.16B | 15.48% | 15.38% | 15.15% | 15.20% |
| Becton, Dickinson and Company (BDX)vs › | $60.00B | 10.61% | 11.84% | 11.67% | 10.68% |
| Cardinal Health, Inc. (CAH)vs › | $53.87B | 0.92% | 0.79% | 0.40% | -0.13% |
| Edwards Lifesciences Corporation (EW)vs › | $49.56B | 28.09% | 26.16% | 28.11% | 28.79% |
| McKesson Corporation (MCK)vs › | $100.24B | 1.58% | 1.41% | 1.42% | 1.37% |
Gross Margin
6.4%
Operating Margin
3.7%
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 | 3.73% |
| 2026-03-31 | 3.44% |
| 2025-12-31 | 2.96% |
| 2025-09-30 | 3.70% |
| 2025-06-30 | 3.62% |
| 2025-03-31 | 3.01% |
| 2024-12-31 | 3.31% |
| 2024-09-30 | 4.04% |
| 2024-06-30 | 3.99% |
| 2024-03-31 | 3.94% |
| 2023-12-31 | 4.03% |
| 2023-09-30 | 4.57% |
| 2023-06-30 | 4.57% |
| 2023-03-31 | 4.33% |
| 2022-12-31 | 3.82% |
| 2022-09-30 | 4.73% |
| 2022-06-30 | 5.21% |
| 2022-03-31 | 4.97% |
| 2021-12-31 | 3.36% |
| 2021-09-30 | 5.18% |
| 2021-06-30 | 4.98% |
| 2021-03-31 | 4.78% |
| 2020-12-31 | 3.22% |
| 2020-09-30 | 5.15% |
| 2020-06-30 | 6.72% |
| 2020-03-31 | 5.36% |
| 2019-12-31 | 4.08% |
| 2019-09-30 | 5.51% |
| 2019-06-30 | 5.57% |
| 2019-03-31 | 5.88% |
| 2018-12-31 | 3.91% |
| 2018-09-30 | 9.88% |
| 2018-06-30 | 10.11% |
| 2018-03-31 | 11.46% |
| 2017-12-31 | 37.84% |
| 2017-09-30 | 35.18% |
| 2017-06-30 | 34.28% |
| 2017-03-31 | 34.15% |
| 2016-12-31 | 31.22% |
| 2016-09-30 | 32.46% |
| 2016-06-30 | 31.52% |
| 2016-03-31 | 32.18% |
| 2015-12-31 | 31.31% |
| 2015-09-30 | 32.89% |
| 2015-06-30 | 33.58% |
| 2015-03-31 | 32.77% |
| 2014-12-31 | 32.99% |
| 2014-09-30 | 33.09% |
| 2014-06-30 | 33.72% |
| 2014-03-31 | 33.96% |
| 2013-12-31 | 100.00% |
| 2013-09-30 | 100.00% |
| 2013-06-30 | 10.46% |
| 2013-03-31 | 10.91% |
| 2012-12-31 | 9.70% |
| 2012-09-30 | 0.00% |
| 2012-06-30 | 8.02% |
| 2012-03-31 | 8.09% |
| 2011-12-31 | 8.33% |
| 2011-09-30 | 5.07% |
| 2011-06-30 | 10.75% |
| 2011-03-31 | 10.70% |
| 2010-12-31 | 10.04% |
| 2010-09-30 | 8.81% |
| 2010-06-30 | 8.20% |
| 2010-03-31 | 8.11% |
| 2009-12-31 | 10.96% |
| 2009-09-30 | 10.78% |
| 2009-06-30 | 14.04% |
| 2009-03-31 | 5.72% |
| 2008-12-31 | -7.06% |
| 2008-09-30 | 4.78% |
| 2008-06-30 | 8.49% |
| 2008-03-31 | 1.62% |
| 2007-12-31 | 8.71% |
| 2007-09-30 | 11.38% |
| 2007-06-30 | 7.49% |
| 2007-03-31 | 9.44% |
| 2006-12-31 | 8.30% |
| 2006-09-30 | 10.78% |
| 2006-06-30 | 9.96% |
| 2006-03-31 | 12.86% |
| 2005-12-31 | 7.32% |
| 2005-09-30 | 9.52% |
| 2005-06-30 | 10.64% |
| 2005-03-31 | 15.30% |
| 2004-12-31 | 17.46% |
| 2004-09-30 | 11.05% |
| 2004-06-30 | 16.38% |
| 2004-03-31 | 6.93% |
| 2003-12-31 | 9.26% |
| 2003-09-30 | 5.89% |
| 2003-06-30 | -1.66% |
| 2003-03-31 | 5.76% |
| 2002-12-31 | 1.36% |
| 2002-09-30 | -66.72% |
