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 41.69% is 138% above its 5-year average of 17.53%, near the high end of its 5-year range (-45.81%–41.69%).
As of the fiscal period ended Tuesday, June 30, 2026. 39.16% above its 12-month average of 29.96%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
41.69%
OPERATING MARGIN AVG TTM
29.96%
OPERATING MARGIN AVG 3Y
21.76%
OPERATING MARGIN AVG 5Y
20.70%
OPERATING MARGIN AVG 10Y
17.88%
OPERATING MARGIN AVG 15Y
10.22%
OPERATING MARGIN AVG 20Y
-28.37%
CURRENT VS TTM AVG
+39.16%
CURRENT VS 3Y AVG
+91.62%
CURRENT VS 5Y AVG
+101.40%
CURRENT VS 10Y AVG
+133.19%
CURRENT VS 15Y AVG
+307.80%
CURRENT VS 20Y AVG
+246.93%
SECTOR MEDIAN · HEALTHCARE
15.12%
median of 79 covered companies
CURRENT VS SECTOR MEDIAN
+175.72%
vs the sector median at left
Incyte Corporation
Market Cap
$24.28B
Operating Margin
41.69%
TTM Avg
29.96%
3Y Avg
21.76%
5Y Avg
20.70%
Market Cap
$24.72B
Operating Margin
20.64%
TTM Avg
20.32%
3Y Avg
22.80%
5Y Avg
22.92%
Market Cap
$25.74B
Operating Margin
11.27%
TTM Avg
9.61%
3Y Avg
9.32%
5Y Avg
13.00%
Market Cap
$26.03B
Operating Margin
14.14%
TTM Avg
14.08%
3Y Avg
14.06%
5Y Avg
16.54%
Market Cap
$26.07B
Operating Margin
28.22%
TTM Avg
28.07%
3Y Avg
28.30%
5Y Avg
28.33%
Market Cap
$22.32B
Operating Margin
-158.13%
TTM Avg
-140.72%
3Y Avg
-73.36%
5Y Avg
-52.24%
Market Cap
$22.03B
Operating Margin
45.34%
TTM Avg
47.77%
3Y Avg
49.26%
5Y Avg
45.01%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Incyte Corporation (INCY) | $24.28B | 41.69% | 29.96% | 21.76% | 20.70% |
| West Pharmaceutical Services, Inc. (WST)vs › | $24.72B | 20.64% | 20.32% | 22.80% | 22.92% |
| BioNTech SE (BNTX)vs › | $23.16B | -22.63% | -35.20% | 5.18% | 14.03% |
| Labcorp Holdings Inc. (LH)vs › | $25.74B | 11.27% | 9.61% | 9.32% | 13.00% |
| STERIS plc (STE)vs › | $22.68B | 18.56% | 17.21% | 17.04% | 16.18% |
| Quest Diagnostics Incorporated (DGX)vs › | $26.03B | 14.14% | 14.08% | 14.06% | 16.54% |
| Waters Corporation (WAT)vs › | $26.07B | 28.22% | 28.07% | 28.30% | 28.33% |
| Moderna, Inc. (MRNA)vs › | $22.32B | -158.13% | -140.72% | -73.36% | -52.24% |
| United Therapeutics Corporation (UTHR)vs › | $22.03B | 45.34% | 47.77% | 49.26% | 45.01% |
| Viatris Inc. (VTRS)vs › | $20.55B | -18.62% | -9.28% | -0.91% | -0.93% |
Gross Margin
92.6%
Operating Margin
41.7%
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 |
|---|---|
| 2026-06-30 | 41.69% |
| 2026-03-31 | 25.47% |
| 2025-12-31 | 25.48% |
| 2025-09-30 | 31.57% |
| 2025-06-30 | 25.57% |
| 2025-03-31 | 20.58% |
| 2024-12-31 | 25.23% |
| 2024-09-30 | 12.84% |
| 2024-06-30 | -45.81% |
| 2024-03-31 | 10.43% |
| 2023-12-31 | 18.48% |
| 2023-09-30 | 23.36% |
| 2023-06-30 | 20.30% |
| 2023-03-31 | 3.06% |
| 2022-12-31 | 7.56% |
| 2022-09-30 | 16.81% |
| 2022-06-30 | 27.92% |
| 2022-03-31 | 15.89% |
| 2021-12-31 | 12.83% |
| 2021-09-30 | 28.96% |
| 2021-06-30 | 19.96% |
| 2021-03-31 | 16.34% |
| 2020-12-31 | 20.80% |
| 2020-09-30 | 0.86% |
| 2020-06-30 | 33.54% |
| 2020-03-31 | -116.80% |
| 2019-12-31 | 16.40% |
| 2019-09-30 | 24.35% |
| 2019-06-30 | 18.61% |
| 2019-03-31 | 14.88% |
| 2018-12-31 | 15.51% |
| 2018-09-30 | 6.92% |
| 2018-06-30 | 15.96% |
| 2018-03-31 | -17.56% |
| 2017-12-31 | -29.85% |
| 2017-09-30 | 3.94% |
| 2017-06-30 | 2.22% |
| 2017-03-31 | -34.69% |
| 2016-12-31 | 12.89% |
| 2016-09-30 | 8.27% |
| 2016-06-30 | 18.10% |
| 2016-03-31 | 13.68% |
| 2015-12-31 | 26.68% |
| 2015-09-30 | -0.05% |
| 2015-06-30 | -4.54% |
| 2015-03-31 | -4.35% |
| 2014-12-31 | -20.67% |
| 2014-09-30 | 35.30% |
| 2014-06-30 | -26.30% |
| 2014-03-31 | -25.54% |
| 2013-12-31 | -16.63% |
| 2013-09-30 | -15.49% |
| 2013-06-30 | 17.03% |
| 2013-03-31 | -5.76% |
| 2012-12-31 | 26.57% |
| 2012-09-30 | -16.76% |
| 2012-06-30 | 17.59% |
| 2012-03-31 | -94.50% |
| 2011-12-31 | -152.78% |
| 2011-09-30 | -250.89% |
| 2011-06-30 | -244.57% |
| 2011-03-31 | -49.49% |
| 2010-12-31 | 49.27% |
| 2010-09-30 | -130.73% |
| 2010-06-30 | 27.33% |
| 2010-03-31 | -114.70% |
| 2009-12-31 | -600.36% |
| 2009-09-30 | -3361.34% |
| 2009-06-30 | -4149.30% |
| 2009-03-31 | -5103.73% |
| 2008-12-31 | -4548.72% |
| 2008-09-30 | -3750.52% |
| 2008-06-30 | -6629.15% |
| 2008-03-31 | -2763.96% |
| 2007-12-31 | -281.33% |
| 2007-09-30 | -319.51% |
| 2007-06-30 | -153.05% |
| 2007-03-31 | -273.28% |
| 2006-12-31 | -277.20% |
| 2006-09-30 | -216.80% |
| 2006-06-30 | -279.80% |
| 2006-03-31 | -346.00% |
| 2005-12-31 | -2586.96% |
| 2005-09-30 | -2372.72% |
| 2005-06-30 | -1011.21% |
| 2005-03-31 | -617.26% |
| 2004-12-31 | 3240.78% |
| 2004-09-30 | -861.15% |
| 2004-06-30 | -1513.13% |
| 2004-03-31 | -605.67% |
| 2003-12-31 | -369.34% |
| 2003-09-30 | -227.72% |
| 2003-06-30 | -243.00% |
| 2003-03-31 | -433.87% |
| 2002-12-31 | -88.75% |
| 2002-09-30 | -167.32% |
