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 24.71% is 23% below its 5-year average of 32.11%, around the middle of its 5-year range (0.00%–55.62%).
As of the fiscal period ended Tuesday, March 31, 2026. 8.32% below its 12-month average of 26.95%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
24.71%
OPERATING MARGIN AVG TTM
26.95%
OPERATING MARGIN AVG 3Y
23.14%
OPERATING MARGIN AVG 5Y
32.11%
OPERATING MARGIN AVG 10Y
24.13%
OPERATING MARGIN AVG 15Y
22.04%
OPERATING MARGIN AVG 20Y
24.32%
CURRENT VS TTM AVG
-8.32%
CURRENT VS 3Y AVG
+6.76%
CURRENT VS 5Y AVG
-23.06%
CURRENT VS 10Y AVG
+2.39%
CURRENT VS 15Y AVG
+12.12%
CURRENT VS 20Y AVG
+1.60%
SECTOR MEDIAN · ENERGY
16.21%
median of 42 covered companies
CURRENT VS SECTOR MEDIAN
+52.43%
vs the sector median at left
Canadian Natural Resources Limited
Market Cap
$99.45B
Operating Margin
24.71%
TTM Avg
26.95%
3Y Avg
23.14%
5Y Avg
32.11%
Market Cap
$92.39B
Operating Margin
5.02%
TTM Avg
4.06%
3Y Avg
6.83%
5Y Avg
2.22%
Market Cap
$90.09B
Operating Margin
7.11%
TTM Avg
3.20%
3Y Avg
5.87%
5Y Avg
3.82%
Market Cap
$87.49B
Operating Margin
38.79%
TTM Avg
34.31%
3Y Avg
33.92%
5Y Avg
31.49%
Market Cap
$82.32B
Operating Margin
13.86%
TTM Avg
13.09%
3Y Avg
13.00%
5Y Avg
14.24%
Market Cap
$79.44B
Operating Margin
27.38%
TTM Avg
32.16%
3Y Avg
34.03%
5Y Avg
30.70%
Market Cap
$79.20B
Operating Margin
36.92%
TTM Avg
34.86%
3Y Avg
36.23%
5Y Avg
28.41%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Canadian Natural Resources Limited (CNQ) | $99.45B | 24.71% | 26.95% | 23.14% | 32.11% |
| Marathon Petroleum Corporation (MPC)vs › | $92.39B | 5.02% | 4.06% | 6.83% | 2.22% |
| Valero Energy Corporation (VLO)vs › | $90.09B | 7.11% | 3.20% | 5.87% | 3.82% |
| The Williams Companies, Inc. (WMB)vs › | $87.49B | 38.79% | 34.31% | 33.92% | 31.49% |
| Phillips 66 (PSX)vs › | $84.87B | 4.67% | 2.14% | 3.95% | 2.34% |
| Enterprise Products Partners L.P. (EPD)vs › | $82.32B | 13.86% | 13.09% | 13.00% | 14.24% |
| Eni S.p.A. (E)vs › | $80.49B | 5.36% | 8.46% | 10.75% | 10.27% |
| Suncor Energy Inc. (SU)vs › | $79.44B | 27.38% | 32.16% | 34.03% | 30.70% |
| EOG Resources, Inc. (EOG)vs › | $79.20B | 36.92% | 34.86% | 36.23% | 28.41% |
| Slb N.V. (SLB)vs › | $74.14B | 13.40% | 16.36% | 16.02% | 13.86% |
Gross Margin
21.3%
Operating Margin
24.7%
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 |
|---|---|
| 2026-03-31 | 24.71% |
| 2025-12-31 | 16.75% |
| 2025-09-30 | 46.13% |
| 2025-06-30 | 21.29% |
| 2025-03-31 | 25.87% |
| 2024-12-31 | 23.41% |
| 2024-09-30 | 27.15% |
| 2024-06-30 | 24.10% |
| 2024-03-31 | 18.61% |
| 2023-12-31 | 26.41% |
| 2023-09-30 | 0.00% |
| 2023-06-30 | 40.05% |
| 2023-03-31 | 45.89% |
| 2022-12-31 | 44.92% |
| 2022-09-30 | 35.95% |
| 2022-06-30 | 36.44% |
| 2022-03-31 | 33.51% |
| 2021-12-31 | 34.07% |
| 2021-09-30 | 55.62% |
| 2021-06-30 | 46.68% |
| 2021-03-31 | 46.84% |
| 2020-12-31 | 3.31% |
| 2020-09-30 | 7.72% |
| 2020-06-30 | -29.28% |
| 2020-03-31 | 28.20% |
| 2019-12-31 | 43.74% |
| 2019-09-30 | 26.84% |
| 2019-06-30 | 27.03% |
| 2019-03-31 | 22.38% |
| 2018-12-31 | -2.77% |
| 2018-09-30 | 30.63% |
| 2018-06-30 | 25.36% |
| 2018-03-31 | 24.34% |
| 2017-12-31 | 14.01% |
| 2017-09-30 | 11.08% |
| 2017-06-30 | 16.20% |
| 2017-03-31 | 11.60% |
| 2016-12-31 | 10.78% |
| 2016-09-30 | -20.63% |
| 2016-06-30 | -13.10% |
| 2016-03-31 | -35.88% |
| 2015-12-31 | -19.07% |
| 2015-09-30 | -0.54% |
| 2015-06-30 | 7.13% |
| 2015-03-31 | -13.02% |
| 2014-12-31 | 16.80% |
| 2014-09-30 | 27.15% |
| 2014-06-30 | 24.90% |
| 2014-03-31 | 21.44% |
| 2013-12-31 | 14.50% |
| 2013-09-30 | 26.50% |
| 2013-06-30 | 16.64% |
| 2013-03-31 | 10.51% |
| 2012-12-31 | 13.99% |
| 2012-09-30 | 14.48% |
| 2012-06-30 | 24.39% |
| 2012-03-31 | 21.13% |
| 2011-12-31 | 27.51% |
| 2011-09-30 | 31.68% |
| 2011-06-30 | 29.09% |
| 2011-03-31 | 13.75% |
| 2010-12-31 | -8.79% |
| 2010-09-30 | 28.17% |
| 2010-06-30 | 28.67% |
| 2010-03-31 | 39.80% |
| 2009-12-31 | 23.80% |
| 2009-09-30 | 35.28% |
| 2009-06-30 | 8.84% |
| 2009-03-31 | 20.40% |
| 2008-12-31 | 31.41% |
| 2008-09-30 | 45.64% |
| 2008-06-30 | 36.63% |
| 2008-03-31 | 28.32% |
| 2007-12-31 | -14.30% |
| 2007-09-30 | 30.08% |
| 2007-06-30 | 28.29% |
| 2007-03-31 | 16.46% |
| 2006-12-31 | 19.17% |
| 2006-09-30 | 42.93% |
| 2006-06-30 | 30.71% |
| 2006-03-31 | 29.32% |
| 2005-12-31 | 42.57% |
| 2005-09-30 | 40.92% |
| 2005-06-30 | 29.10% |
| 2005-03-31 | 27.25% |
| 2004-12-31 | 34.97% |
| 2004-09-30 | 46.75% |
| 2004-06-30 | 35.41% |
| 2004-03-31 | 32.59% |
| 2003-12-31 | 20.53% |
| 2003-09-30 | 28.37% |
| 2003-06-30 | 39.21% |
| 2003-03-31 | 57.91% |
| 2002-12-31 | 31.03% |
| 2002-09-30 | 25.71% |
| 2002-06-30 | 25.66% |
