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 21.90% is 13% below its 5-year average of 25.06%, near the low end of its 5-year range (15.67%–42.55%).
5.80% above its 12-month average of 20.70%.
Reported quarterly operating margin; no daily interpolation. Q1 FY2027 (2026-06-30): 20.43%.
OPERATING MARGIN
21.90%
OPERATING MARGIN AVG TTM
20.70%
OPERATING MARGIN AVG 3Y
20.40%
OPERATING MARGIN AVG 5Y
25.06%
OPERATING MARGIN AVG 10Y
25.61%
OPERATING MARGIN AVG 15Y
25.05%
OPERATING MARGIN AVG 20Y
24.07%
CURRENT VS TTM AVG
+5.80%
CURRENT VS 3Y AVG
+7.33%
CURRENT VS 5Y AVG
-12.62%
CURRENT VS 10Y AVG
-14.48%
CURRENT VS 15Y AVG
-12.59%
CURRENT VS 20Y AVG
-9.03%
SECTOR MEDIAN · FINANCIAL SERVICES
22.30%
median of 115 covered companies
CURRENT VS SECTOR MEDIAN
-1.79%
vs the sector median at left
HDFC Bank Limited
Market Cap
$114.59B
Operating Margin
21.90%
TTM Avg
20.70%
3Y Avg
20.40%
5Y Avg
25.06%
Market Cap
$113.87B
Operating Margin
46.27%
TTM Avg
40.76%
3Y Avg
39.48%
5Y Avg
42.90%
Market Cap
$119.46B
Operating Margin
3.29%
TTM Avg
7.13%
3Y Avg
12.64%
5Y Avg
18.34%
Market Cap
$122.27B
Operating Margin
16.23%
TTM Avg
15.23%
3Y Avg
10.05%
5Y Avg
10.98%
Market Cap
$127.25B
Operating Margin
N/A
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$101.36B
Operating Margin
46.03%
TTM Avg
41.27%
3Y Avg
-4.33%
5Y Avg
-17.73%
Market Cap
$99.80B
Operating Margin
19.71%
TTM Avg
16.12%
3Y Avg
15.62%
5Y Avg
19.79%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| HDFC Bank Limited (HDB) | $114.59B | 21.90% | 20.70% | 20.40% | 25.06% |
| S&P Global Inc. (SPGI)vs › | $113.87B | 46.27% | 40.76% | 39.48% | 42.90% |
| Capital One Financial Corporation (COF)vs › | $119.46B | 3.29% | 7.13% | 12.64% | 18.34% |
| The Progressive Corporation (PGR)vs › | $122.27B | 16.23% | 15.23% | 10.05% | 10.98% |
| Vanguard Dividend Appreciation ETF (VIG)vs › | $127.25B | N/A | N/A | N/A | N/A |
| Chubb Limited (CB)vs › | $127.66B | 18.19% | 21.11% | 19.08% | 18.64% |
| Robinhood Markets, Inc. (HOOD)vs › | $101.36B | 46.03% | 41.27% | -4.33% | -17.73% |
| Bank of New York Mellon Corp (BNY)vs › | $99.80B | 19.71% | 16.12% | 15.62% | 19.79% |
| CME Group Inc. (CME)vs › | $94.62B | 65.10% | 64.50% | 62.66% | 60.18% |
| Invesco S&P 500 Equal Weight ETF (RSP)vs › | $94.37B | N/A | N/A | N/A | N/A |
Operating Margin
21.9%
Gross margin is not shown for a lender or insurer: its revenue is interest, premiums and fees rather than the sale of goods, so there is no cost of goods sold to measure it against.
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 | 20.43% |
| 2026-03-31 | 23.67% |
| 2025-12-31 | 21.24% |
| 2025-09-30 | 22.49% |
| 2025-06-30 | 15.67% |
| 2025-03-31 | 22.49% |
| 2024-12-31 | 21.37% |
| 2024-09-30 | 22.96% |
| 2024-06-30 | 19.43% |
| 2024-03-31 | 17.14% |
| 2023-12-31 | 18.47% |
| 2023-09-30 | 19.49% |
| 2023-06-30 | 27.20% |
| 2023-03-31 | 42.55% |
| 2022-12-31 | 31.29% |
| 2022-09-30 | 30.41% |
| 2022-06-30 | 29.01% |
| 2022-03-31 | 31.14% |
| 2021-12-31 | 32.79% |
| 2021-09-30 | 29.74% |
| 2021-06-30 | 27.33% |
| 2021-03-31 | 27.54% |
| 2020-12-31 | 29.65% |
| 2020-09-30 | 27.00% |
| 2020-06-30 | 25.45% |
| 2020-03-31 | 25.29% |
| 2019-12-31 | 26.74% |
| 2019-09-30 | 26.66% |
| 2019-06-30 | 25.74% |
| 2019-03-31 | 28.70% |
| 2018-12-31 | 27.80% |
| 2018-09-30 | 27.41% |
| 2018-06-30 | 26.62% |
| 2018-03-31 | 28.55% |
| 2017-12-31 | 29.04% |
| 2017-09-30 | 26.15% |
| 2017-06-30 | 26.87% |
| 2017-03-31 | 24.95% |
| 2016-12-31 | 28.40% |
| 2016-09-30 | 26.42% |
| 2016-06-30 | 25.63% |
| 2016-03-31 | 24.82% |
| 2015-12-31 | 27.80% |
| 2015-09-30 | 25.18% |
| 2015-06-30 | 24.98% |
| 2015-03-31 | 26.10% |
| 2014-12-31 | 28.25% |
| 2014-09-30 | 25.94% |
| 2014-06-30 | 25.71% |
| 2014-03-31 | 22.21% |
| 2013-12-31 | 27.47% |
| 2013-09-30 | 25.14% |
| 2013-06-30 | 23.98% |
| 2013-03-31 | 17.59% |
| 2012-12-31 | 25.11% |
| 2012-09-30 | 22.45% |
| 2012-06-30 | 21.31% |
| 2012-03-31 | 21.20% |
| 2011-12-31 | 23.76% |
| 2011-09-30 | 17.53% |
| 2011-06-30 | 22.40% |
| 2011-03-31 | 29.37% |
| 2010-12-31 | 25.27% |
| 2010-09-30 | 26.88% |
| 2010-06-30 | 22.06% |
| 2010-03-31 | 10.00% |
| 2009-12-31 | 23.83% |
| 2009-09-30 | 11.14% |
| 2009-06-30 | 16.74% |
| 2009-03-31 | 6.44% |
| 2008-12-31 | 19.00% |
| 2008-09-30 | 7.14% |
| 2008-06-30 | 16.20% |
| 2008-03-31 | 0.00% |
| 2007-12-31 | 0.00% |
| 2007-09-30 | 13.74% |
| 2007-06-30 | 0.00% |
| 2007-03-31 | 0.00% |
| 2006-12-31 | 0.00% |
| 2006-09-30 | 15.81% |
| 2006-06-30 | 0.00% |
| 2006-03-31 | 0.00% |
| 2005-12-31 | 0.00% |
| 2005-09-30 | 24.81% |
| 2005-06-30 | 0.00% |
| 2005-03-31 | 0.00% |
| 2004-12-31 | 0.00% |
| 2004-09-30 | 28.10% |
| 2004-06-30 | 0.00% |
| 2004-03-31 | 0.00% |
| 2003-12-31 | 0.00% |
| 2003-09-30 | 23.08% |
| 2003-06-30 | 0.00% |
| 2003-03-31 | 0.00% |
| 2002-12-31 | 0.00% |
| 2002-09-30 | 21.39% |
