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 3.38% is in line with its 5-year average of 3.23%, around the middle of its 5-year range (-6.24%–17.21%).
As of the fiscal period ended Tuesday, June 30, 2026. 0.61% above its 12-month average of 3.36%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
3.38%
OPERATING MARGIN AVG TTM
3.36%
OPERATING MARGIN AVG 3Y
2.51%
OPERATING MARGIN AVG 5Y
3.23%
OPERATING MARGIN AVG 10Y
7.98%
OPERATING MARGIN AVG 15Y
8.76%
OPERATING MARGIN AVG 20Y
8.15%
CURRENT VS TTM AVG
+0.61%
CURRENT VS 3Y AVG
+34.67%
CURRENT VS 5Y AVG
+4.77%
CURRENT VS 10Y AVG
-57.67%
CURRENT VS 15Y AVG
-61.44%
CURRENT VS 20Y AVG
-58.53%
SECTOR MEDIAN · INDUSTRIALS
14.09%
median of 131 covered companies
CURRENT VS SECTOR MEDIAN
-76.01%
vs the sector median at left
Southwest Airlines Co.
Market Cap
$23.02B
Operating Margin
3.38%
TTM Avg
3.36%
3Y Avg
2.51%
5Y Avg
3.23%
Market Cap
$23.37B
Operating Margin
9.83%
TTM Avg
9.66%
3Y Avg
10.03%
5Y Avg
10.25%
Market Cap
$23.72B
Operating Margin
9.83%
TTM Avg
8.56%
3Y Avg
6.91%
5Y Avg
5.59%
Market Cap
$23.97B
Operating Margin
22.74%
TTM Avg
23.23%
3Y Avg
23.00%
5Y Avg
22.67%
Market Cap
$21.54B
Operating Margin
23.78%
TTM Avg
25.75%
3Y Avg
25.91%
5Y Avg
25.40%
Market Cap
$25.22B
Operating Margin
7.52%
TTM Avg
7.04%
3Y Avg
7.71%
5Y Avg
7.80%
Market Cap
$25.55B
Operating Margin
18.48%
TTM Avg
17.59%
3Y Avg
17.19%
5Y Avg
15.99%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Southwest Airlines Co. (LUV) | $23.02B | 3.38% | 3.36% | 2.51% | 3.23% |
| Expeditors International of Washington, Inc. (EXPD)vs › | $23.37B | 9.83% | 9.66% | 10.03% | 10.25% |
| XPO Logistics, Inc. (XPO)vs › | $23.72B | 9.83% | 8.56% | 6.91% | 5.59% |
| Veralto Corporation (VLTO)vs › | $23.97B | 22.74% | 23.23% | 23.00% | 22.67% |
| MasTec, Inc. (MTZ)vs › | $21.88B | 5.79% | 4.05% | 2.67% | 2.65% |
| Snap-on Incorporated (SNA)vs › | $21.54B | 23.78% | 25.75% | 25.91% | 25.40% |
| Equifax Inc. (EFX)vs › | $21.45B | 17.85% | 18.19% | 18.68% | 19.04% |
| J.B. Hunt Transport Services, Inc. (JBHT)vs › | $25.22B | 7.52% | 7.04% | 7.71% | 7.80% |
| Curtiss-Wright Corporation (CW)vs › | $25.55B | 18.48% | 17.59% | 17.19% | 15.99% |
| Symbotic Inc. (SYM)vs › | $25.78B | 1.25% | -5.31% | -13.31% | -36.95% |
Gross Margin
17.4%
Operating Margin
3.4%
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 | 3.38% |
| 2026-03-31 | 4.55% |
| 2025-12-31 | 5.25% |
| 2025-09-30 | 0.50% |
| 2025-06-30 | 3.11% |
| 2025-03-31 | -3.47% |
| 2024-12-31 | 4.01% |
| 2024-09-30 | 0.55% |
| 2024-06-30 | 5.41% |
| 2024-03-31 | -6.21% |
| 2023-12-31 | -5.92% |
| 2023-09-30 | 1.79% |
| 2023-06-30 | 11.30% |
| 2023-03-31 | -4.98% |
| 2022-12-31 | -6.24% |
| 2022-09-30 | 6.35% |
| 2022-06-30 | 17.21% |
| 2022-03-31 | -3.22% |
| 2021-12-31 | 3.86% |
| 2021-09-30 | 15.67% |
| 2021-06-30 | 14.82% |
| 2021-03-31 | 9.70% |
| 2020-12-31 | -58.02% |
| 2020-09-30 | -78.69% |
| 2020-06-30 | -111.81% |
| 2020-03-31 | -2.60% |
| 2019-12-31 | 11.61% |
| 2019-09-30 | 14.52% |
| 2019-06-30 | 16.38% |
| 2019-03-31 | 9.81% |
| 2018-12-31 | 14.38% |
| 2018-09-30 | 14.31% |
| 2018-06-30 | 16.93% |
| 2018-03-31 | 12.46% |
| 2017-12-31 | 14.66% |
| 2017-09-30 | 16.03% |
| 2017-06-30 | 21.15% |
| 2017-03-31 | 12.41% |
| 2016-12-31 | 16.65% |
| 2016-09-30 | 13.52% |
| 2016-06-30 | 23.70% |
| 2016-03-31 | 19.56% |
| 2015-12-31 | 20.61% |
| 2015-09-30 | 23.03% |
| 2015-06-30 | 21.23% |
| 2015-03-31 | 17.67% |
| 2014-12-31 | 13.40% |
| 2014-09-30 | 12.79% |
| 2014-06-30 | 15.47% |
| 2014-03-31 | 5.16% |
| 2013-12-31 | 8.69% |
| 2013-09-30 | 8.58% |
| 2013-06-30 | 9.33% |
| 2013-03-31 | 1.71% |
| 2012-12-31 | 2.18% |
| 2012-09-30 | 1.18% |
| 2012-06-30 | 9.97% |
| 2012-03-31 | 0.55% |
| 2011-12-31 | 3.58% |
| 2011-09-30 | 5.22% |
| 2011-06-30 | 5.00% |
| 2011-03-31 | 3.67% |
| 2010-12-31 | 6.94% |
| 2010-09-30 | 11.12% |
| 2010-06-30 | 11.46% |
| 2010-03-31 | 2.05% |
| 2009-12-31 | 6.16% |
| 2009-09-30 | 0.83% |
| 2009-06-30 | 4.70% |
| 2009-03-31 | -2.12% |
| 2008-12-31 | 2.52% |
| 2008-09-30 | 2.97% |
| 2008-06-30 | 7.15% |
| 2008-03-31 | 3.48% |
| 2007-12-31 | 5.10% |
| 2007-09-30 | 9.70% |
| 2007-06-30 | 12.70% |
| 2007-03-31 | 3.82% |
| 2006-12-31 | 7.64% |
| 2006-09-30 | 11.14% |
| 2006-06-30 | 16.41% |
| 2006-03-31 | 4.85% |
| 2005-12-31 | 8.25% |
| 2005-09-30 | 12.47% |
| 2005-06-30 | 13.17% |
| 2005-03-31 | 4.87% |
| 2004-12-31 | 7.19% |
| 2004-09-30 | 11.41% |
| 2004-06-30 | 11.48% |
| 2004-03-31 | 3.10% |
| 2003-12-31 | 7.32% |
| 2003-09-30 | 11.91% |
| 2003-06-30 | 9.24% |
| 2003-03-31 | 3.40% |
| 2002-12-31 | 6.27% |
| 2002-09-30 | 6.55% |
