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 32.43% is 25% above its 5-year average of 25.99%, near the high end of its 5-year range (15.81%–34.58%).
2.94% above its 12-month average of 31.50%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
32.43%
OPERATING MARGIN AVG TTM
31.50%
OPERATING MARGIN AVG 3Y
29.12%
OPERATING MARGIN AVG 5Y
25.99%
OPERATING MARGIN AVG 10Y
19.49%
OPERATING MARGIN AVG 15Y
16.67%
OPERATING MARGIN AVG 20Y
N/A
CURRENT VS TTM AVG
+2.94%
CURRENT VS 3Y AVG
+11.37%
CURRENT VS 5Y AVG
+24.76%
CURRENT VS 10Y AVG
+66.41%
CURRENT VS 15Y AVG
+94.55%
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · TECHNOLOGY
14.00%
median of 194 covered companies
CURRENT VS SECTOR MEDIAN
+131.64%
vs the sector median at left
Fortinet, Inc.
Market Cap
$115.69B
Operating Margin
32.43%
TTM Avg
31.50%
3Y Avg
29.12%
5Y Avg
25.99%
Market Cap
$116.64B
Operating Margin
-22.76%
TTM Avg
-35.39%
3Y Avg
-37.64%
5Y Avg
-50.18%
Market Cap
$109.29B
Operating Margin
-14.11%
TTM Avg
-9.41%
3Y Avg
-13.44%
5Y Avg
-16.33%
Market Cap
$108.43B
Operating Margin
14.87%
TTM Avg
14.73%
3Y Avg
14.61%
5Y Avg
14.70%
Market Cap
$106.87B
Operating Margin
18.58%
TTM Avg
22.45%
3Y Avg
23.91%
5Y Avg
23.48%
Market Cap
$103.88B
Operating Margin
77.44%
TTM Avg
67.51%
3Y Avg
43.81%
5Y Avg
29.39%
Market Cap
$138.13B
Operating Margin
11.40%
TTM Avg
13.08%
3Y Avg
9.89%
5Y Avg
8.05%
Market Cap
$89.58B
Operating Margin
9.76%
TTM Avg
7.31%
3Y Avg
8.46%
5Y Avg
8.72%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Fortinet, Inc. (FTNT) | $115.69B | 32.43% | 31.50% | 29.12% | 25.99% |
| Snowflake Inc. (SNOW)vs › | $116.64B | -22.76% | -35.39% | -37.64% | -50.18% |
| Cloudflare, Inc. (NET)vs › | $109.29B | -14.11% | -9.41% | -13.44% | -16.33% |
| Accenture plc (ACN)vs › | $108.43B | 14.87% | 14.73% | 14.61% | 14.70% |
| Automatic Data Processing, Inc. (ADP)vs › | $106.87B | 18.58% | 22.45% | 23.91% | 23.48% |
| AppLovin Corporation (APP)vs › | $103.88B | 77.44% | 67.51% | 43.81% | 29.39% |
| Adobe Inc. (ADBE)vs › | $102.42B | 36.07% | 33.99% | 34.22% | 34.73% |
| ServiceNow, Inc. (NOW)vs › | $138.13B | 11.40% | 13.08% | 9.89% | 8.05% |
| ASE Technology Holding Co., Ltd. (ASX)vs › | $89.58B | 9.76% | 7.31% | 8.46% | 8.72% |
| Intuit Inc. (INTU)vs › | $87.40B | 27.43% | 26.79% | 24.43% | 23.98% |
Gross Margin
80.4%
Operating Margin
32.4%
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 | 33.66% |
| 2026-03-31 | 31.36% |
| 2025-12-31 | 32.84% |
| 2025-09-30 | 31.65% |
| 2025-06-30 | 28.02% |
| 2025-03-31 | 29.47% |
| 2024-12-31 | 34.58% |
| 2024-09-30 | 31.22% |
| 2024-06-30 | 30.48% |
| 2024-03-31 | 23.73% |
| 2023-12-31 | 27.23% |
| 2023-09-30 | 22.72% |
| 2023-06-30 | 21.58% |
| 2023-03-31 | 21.67% |
| 2022-12-31 | 27.89% |
| 2022-09-30 | 23.10% |
| 2022-06-30 | 18.96% |
| 2022-03-31 | 15.81% |
| 2021-12-31 | 22.30% |
| 2021-09-30 | 19.19% |
| 2021-06-30 | 18.41% |
| 2021-03-31 | 17.12% |
| 2020-12-31 | 22.65% |
| 2020-09-30 | 19.49% |
| 2020-06-30 | 19.24% |
| 2020-03-31 | 20.20% |
| 2019-12-31 | 19.27% |
| 2019-09-30 | 18.35% |
| 2019-06-30 | 14.41% |
| 2019-03-31 | 10.71% |
| 2018-12-31 | 16.79% |
| 2018-09-30 | 13.84% |
| 2018-06-30 | 11.49% |
| 2018-03-31 | 8.12% |
| 2017-12-31 | 10.13% |
| 2017-09-30 | 9.01% |
| 2017-06-30 | 7.84% |
| 2017-03-31 | 1.59% |
| 2016-12-31 | 12.46% |
| 2016-09-30 | 1.73% |
| 2016-06-30 | -1.30% |
| 2016-03-31 | -1.30% |
| 2015-12-31 | 4.34% |
| 2015-09-30 | -0.71% |
| 2015-06-30 | 1.23% |
| 2015-03-31 | 0.42% |
| 2014-12-31 | 8.89% |
| 2014-09-30 | 7.99% |
| 2014-06-30 | 6.05% |
| 2014-03-31 | 7.59% |
| 2013-12-31 | 13.90% |
| 2013-09-30 | 11.82% |
| 2013-06-30 | 9.34% |
| 2013-03-31 | 11.33% |
| 2012-12-31 | 23.18% |
| 2012-09-30 | 18.91% |
| 2012-06-30 | 16.25% |
| 2012-03-31 | 15.96% |
| 2011-12-31 | 21.94% |
| 2011-09-30 | 22.47% |
| 2011-06-30 | 18.23% |
| 2011-03-31 | 18.70% |
| 2010-12-31 | 22.11% |
| 2010-09-30 | 21.37% |
| 2010-06-30 | 12.81% |
| 2010-03-31 | 9.61% |
| 2009-12-31 | 10.54% |
| 2009-09-30 | 14.69% |
| 2009-06-30 | 8.11% |
| 2009-03-31 | 5.96% |
| 2008-12-31 | 10.62% |
| 2008-09-30 | 5.92% |
