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 23.86% is 18% below its 5-year average of 29.04%, around the middle of its 5-year range (8.20%–45.78%).
9.77% above its 12-month average of 21.74%.
Reported quarterly operating margin; no daily interpolation. Q2 FY2026 (2026-06-30): 34.50%.
OPERATING MARGIN
23.86%
OPERATING MARGIN AVG TTM
21.74%
OPERATING MARGIN AVG 3Y
26.92%
OPERATING MARGIN AVG 5Y
29.04%
OPERATING MARGIN AVG 10Y
21.73%
OPERATING MARGIN AVG 15Y
24.10%
OPERATING MARGIN AVG 20Y
28.58%
CURRENT VS TTM AVG
+9.77%
CURRENT VS 3Y AVG
-11.38%
CURRENT VS 5Y AVG
-17.85%
CURRENT VS 10Y AVG
+9.81%
CURRENT VS 15Y AVG
-0.99%
CURRENT VS 20Y AVG
-16.51%
SECTOR MEDIAN · ENERGY
18.52%
median of 50 covered companies
CURRENT VS SECTOR MEDIAN
+28.87%
vs the sector median at left
Devon Energy Corporation
Market Cap
$51.76B
Operating Margin
23.86%
TTM Avg
21.74%
3Y Avg
26.92%
5Y Avg
29.04%
Market Cap
$52.51B
Operating Margin
27.68%
TTM Avg
36.30%
3Y Avg
48.86%
5Y Avg
10.01%
Market Cap
$56.55B
Operating Margin
23.01%
TTM Avg
19.63%
3Y Avg
24.70%
5Y Avg
17.59%
Market Cap
$57.41B
Operating Margin
12.92%
TTM Avg
12.49%
3Y Avg
11.06%
5Y Avg
8.98%
Market Cap
$59.64B
Operating Margin
23.13%
TTM Avg
18.91%
3Y Avg
15.82%
5Y Avg
14.84%
Market Cap
$61.19B
Operating Margin
46.09%
TTM Avg
43.13%
3Y Avg
42.95%
5Y Avg
43.43%
Market Cap
$38.36B
Operating Margin
14.57%
TTM Avg
16.48%
3Y Avg
11.17%
5Y Avg
5.18%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Devon Energy Corporation (DVN) | $51.76B | 23.86% | 21.74% | 26.92% | 29.04% |
| Diamondback Energy, Inc. (FANG)vs › | $52.51B | 27.68% | 36.30% | 48.86% | 10.01% |
| ONEOK, Inc. (OKE)vs › | $55.85B | 18.48% | 21.96% | 20.06% | 19.87% |
| Occidental Petroleum Corporation (OXY)vs › | $56.55B | 23.01% | 19.63% | 24.70% | 17.59% |
| Baker Hughes Company (BKR)vs › | $57.41B | 12.92% | 12.49% | 11.06% | 8.98% |
| MPLX Lp (MPLX)vs › | $57.64B | 42.91% | 44.40% | 45.59% | 37.76% |
| Targa Resources Corp. (TRGP)vs › | $59.64B | 23.13% | 18.91% | 15.82% | 14.84% |
| TC Energy Corporation (TRP)vs › | $61.19B | 46.09% | 43.13% | 42.95% | 43.43% |
| Cameco Corporation (CCJ)vs › | $38.36B | 14.57% | 16.48% | 11.17% | 5.18% |
| Kinder Morgan, Inc. (KMI)vs › | $68.47B | 29.04% | 28.73% | 26.70% | 27.54% |
Gross Margin
25.6%
Operating Margin
23.9%
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 | 34.50% |
| 2026-03-31 | 8.20% |
| 2025-12-31 | 20.41% |
| 2025-09-30 | 22.67% |
| 2025-06-30 | 22.90% |
| 2025-03-31 | 23.63% |
| 2024-12-31 | 21.42% |
| 2024-09-30 | 29.85% |
| 2024-06-30 | 29.00% |
| 2024-03-31 | 24.11% |
| 2023-12-31 | 36.67% |
| 2023-09-30 | 30.60% |
| 2023-06-30 | 27.33% |
| 2023-03-31 | 34.03% |
| 2022-12-31 | 36.89% |
| 2022-09-30 | 45.78% |
| 2022-06-30 | 45.66% |
| 2022-03-31 | 33.53% |
| 2021-12-31 | 39.71% |
| 2021-09-30 | 30.67% |
| 2021-06-30 | 12.37% |
| 2021-03-31 | 8.10% |
| 2020-12-31 | 0.31% |
| 2020-09-30 | -8.90% |
| 2020-06-30 | -151.78% |
| 2020-03-31 | 27.60% |
| 2019-12-31 | -0.25% |
| 2019-09-30 | 15.01% |
| 2019-06-30 | 16.72% |
| 2019-03-31 | -41.98% |
| 2018-12-31 | 36.73% |
| 2018-09-30 | 2.13% |
| 2018-06-30 | -8.95% |
| 2018-03-31 | 6.14% |
| 2017-12-31 | -14.19% |
| 2017-09-30 | 16.86% |
| 2017-06-30 | 25.03% |
| 2017-03-31 | 19.88% |
| 2016-12-31 | 22.69% |
| 2016-09-30 | 50.83% |
| 2016-06-30 | -60.17% |
| 2016-03-31 | -164.63% |
| 2015-12-31 | -187.98% |
| 2015-09-30 | -151.18% |
| 2015-06-30 | -128.59% |
| 2015-03-31 | -168.30% |
| 2014-12-31 | 7.67% |
| 2014-09-30 | 33.25% |
| 2014-06-30 | 39.33% |
| 2014-03-31 | 18.52% |
| 2013-12-31 | 22.72% |
| 2013-09-30 | 27.01% |
| 2013-06-30 | 35.62% |
| 2013-03-31 | -94.22% |
| 2012-12-31 | 32.82% |
| 2012-09-30 | 3.70% |
| 2012-06-30 | 34.27% |
| 2012-03-31 | 28.35% |
| 2011-12-31 | 28.92% |
| 2011-09-30 | 61.51% |
| 2011-06-30 | 53.71% |
| 2011-03-31 | 27.90% |
| 2010-12-31 | 84.67% |
| 2010-09-30 | 42.58% |
| 2010-06-30 | 35.80% |
| 2010-03-31 | 63.65% |
| 2009-12-31 | -304.00% |
| 2009-09-30 | 25.49% |
| 2009-06-30 | 16.41% |
| 2009-03-31 | -318.74% |
| 2008-12-31 | -362.69% |
| 2008-09-30 | 62.48% |
| 2008-06-30 | 35.54% |
| 2008-03-31 | 65.18% |
| 2007-12-31 | 41.13% |
| 2007-09-30 | 37.68% |
| 2007-06-30 | 42.13% |
| 2007-03-31 | 78.41% |
| 2006-12-31 | 33.35% |
| 2006-09-30 | 39.82% |
| 2006-06-30 | 42.60% |
| 2006-03-31 | 46.56% |
| 2005-12-31 | 47.08% |
| 2005-09-30 | 52.03% |
| 2005-06-30 | 45.99% |
| 2005-03-31 | 40.20% |
| 2004-12-31 | 41.70% |
| 2004-09-30 | 41.24% |
| 2004-06-30 | 41.05% |
| 2004-03-31 | 39.54% |
| 2003-12-31 | 34.90% |
| 2003-09-30 | 37.68% |
| 2003-06-30 | 37.23% |
| 2003-03-31 | 42.49% |
| 2002-12-31 | 18.00% |
| 2002-09-30 | 26.58% |
