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 11.30% is 13% above its 5-year average of 10.02%, near the high end of its 5-year range (-14.19%–14.18%).
As of the fiscal period ended Tuesday, March 31, 2026. 3.94% below its 12-month average of 11.76%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
11.30%
OPERATING MARGIN AVG TTM
11.76%
OPERATING MARGIN AVG 3Y
11.69%
OPERATING MARGIN AVG 5Y
11.23%
OPERATING MARGIN AVG 10Y
11.42%
OPERATING MARGIN AVG 15Y
11.90%
OPERATING MARGIN AVG 20Y
11.45%
CURRENT VS TTM AVG
-3.94%
CURRENT VS 3Y AVG
-3.31%
CURRENT VS 5Y AVG
+0.63%
CURRENT VS 10Y AVG
-1.07%
CURRENT VS 15Y AVG
-5.07%
CURRENT VS 20Y AVG
-1.31%
SECTOR MEDIAN · INDUSTRIALS
13.97%
median of 130 covered companies
CURRENT VS SECTOR MEDIAN
-19.11%
vs the sector median at left
Market Cap
$88.54B
Operating Margin
7.31%
TTM Avg
9.21%
3Y Avg
10.43%
5Y Avg
10.75%
Market Cap
$90.56B
Operating Margin
18.54%
TTM Avg
18.55%
3Y Avg
18.32%
5Y Avg
17.72%
Market Cap
$83.91B
Operating Margin
19.96%
TTM Avg
17.42%
3Y Avg
17.53%
5Y Avg
16.97%
Market Cap
$82.56B
Operating Margin
26.50%
TTM Avg
26.55%
3Y Avg
25.49%
5Y Avg
24.82%
Market Cap
$93.00B
Operating Margin
19.12%
TTM Avg
17.88%
3Y Avg
13.21%
5Y Avg
10.99%
Market Cap
$81.89B
Operating Margin
23.14%
TTM Avg
22.98%
3Y Avg
21.99%
5Y Avg
21.27%
Market Cap
$93.36B
Operating Margin
34.15%
TTM Avg
34.49%
3Y Avg
36.59%
5Y Avg
38.09%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Cummins Inc. (CMI) | $87.51B | 11.30% | 11.76% | 11.69% | 11.23% |
| United Parcel Service, Inc. (UPS)vs › | $88.54B | 7.31% | 9.21% | 10.43% | 10.75% |
| Waste Management, Inc. (WM)vs › | $90.56B | 18.54% | 18.55% | 18.32% | 17.72% |
| 3M Company (MMM)vs › | $90.91B | 19.01% | 19.18% | 16.68% | 18.27% |
| Emerson Electric Co. (EMR)vs › | $83.91B | 19.96% | 17.42% | 17.53% | 16.97% |
| Illinois Tool Works Inc. (ITW)vs › | $82.56B | 26.50% | 26.55% | 25.49% | 24.82% |
| Vertiv Holdings Co (VRT)vs › | $93.00B | 19.12% | 17.88% | 13.21% | 10.99% |
| Cintas Corporation (CTAS)vs › | $81.89B | 23.14% | 22.98% | 21.99% | 21.27% |
| CSX Corporation (CSX)vs › | $93.36B | 34.15% | 34.49% | 36.59% | 38.09% |
| Canadian Pacific Kansas City Ltd. (CP)vs › | $78.14B | 36.78% | 36.40% | 36.38% | 38.09% |
Gross Margin
25.4%
Operating Margin
11.3%
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 | 11.30% |
| 2025-12-31 | 7.50% |
| 2025-09-30 | 11.96% |
| 2025-06-30 | 14.18% |
| 2025-03-31 | 13.87% |
| 2024-12-31 | 8.67% |
| 2024-09-30 | 12.42% |
| 2024-06-30 | 11.88% |
| 2024-03-31 | 10.98% |
| 2023-12-31 | -14.19% |
| 2023-09-30 | 11.27% |
| 2023-06-30 | 11.54% |
| 2023-03-31 | 12.14% |
| 2022-12-31 | 10.32% |
| 2022-09-30 | 8.54% |
| 2022-06-30 | 13.62% |
| 2022-03-31 | 9.46% |
| 2021-12-31 | 8.46% |
| 2021-10-03 | 11.16% |
| 2021-07-04 | 12.03% |
| 2021-04-04 | 13.30% |
| 2020-12-31 | 10.79% |
| 2020-09-27 | 13.09% |
| 2020-06-28 | 8.72% |
| 2020-03-29 | 12.65% |
| 2019-12-31 | 6.35% |
| 2019-09-29 | 12.12% |
| 2019-06-30 | 13.63% |
| 2019-03-31 | 13.31% |
| 2018-12-31 | 11.93% |
| 2018-09-30 | 13.51% |
| 2018-07-01 | 11.77% |
| 2018-04-01 | 9.52% |
| 2017-12-31 | 10.87% |
| 2017-10-01 | 11.77% |
| 2017-07-02 | 11.54% |
| 2017-04-02 | 11.77% |
| 2016-12-31 | 11.26% |
| 2016-10-02 | 9.17% |
| 2016-07-03 | 12.52% |
| 2016-04-03 | 10.95% |
| 2015-12-31 | 4.80% |
| 2015-09-27 | 12.06% |
| 2015-06-28 | 14.42% |
| 2015-03-29 | 11.64% |
| 2014-12-31 | 11.41% |
| 2014-09-28 | 13.48% |
| 2014-06-29 | 12.66% |
| 2014-03-30 | 11.64% |
| 2013-12-31 | 12.05% |
| 2013-09-29 | 12.28% |
| 2013-06-30 | 13.48% |
| 2013-03-31 | 10.56% |
| 2012-12-31 | 10.83% |
| 2012-09-30 | 11.97% |
| 2012-07-01 | 14.56% |
| 2012-04-01 | 14.49% |
| 2011-12-31 | 15.14% |
| 2011-09-25 | 13.81% |
| 2011-06-26 | 16.55% |
| 2011-03-27 | 13.70% |
| 2010-12-31 | 12.68% |
| 2010-09-26 | 12.79% |
| 2010-06-27 | 12.34% |
| 2010-03-28 | 9.93% |
| 2009-12-31 | 11.32% |
| 2009-09-27 | 5.81% |
| 2009-06-28 | 4.98% |
| 2009-03-29 | 1.19% |
| 2008-12-31 | 3.10% |
| 2008-09-28 | 10.37% |
| 2008-06-29 | 12.04% |
| 2008-03-30 | 9.18% |
| 2007-12-31 | 8.67% |
| 2007-09-30 | 8.57% |
| 2007-06-30 | 10.20% |
| 2007-04-01 | 7.92% |
| 2006-12-31 | 9.76% |
| 2006-10-01 | 9.90% |
| 2006-06-30 | 10.87% |
| 2006-04-02 | 9.26% |
| 2005-12-31 | 8.54% |
| 2005-09-25 | 8.27% |
| 2005-06-26 | 9.28% |
| 2005-03-27 | 7.61% |
| 2004-12-31 | 5.36% |
| 2004-09-26 | 5.20% |
| 2004-06-27 | 5.56% |
| 2004-03-28 | 3.73% |
| 2003-12-31 | 3.28% |
| 2003-09-28 | 2.08% |
| 2003-06-29 | 1.69% |
| 2003-03-30 | -1.95% |
| 2002-12-31 | 2.33% |
| 2002-09-29 | 3.94% |
| 2002-06-30 | 2.33% |
