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 42.91% is in line with its 5-year average of 44.69%, near the low end of its 5-year range (35.77%–61.03%).
0.85% below its 12-month average of 43.28%.
Reported quarterly operating margin; no daily interpolation. Q2 FY2026 (2026-06-30): 41.61%.
OPERATING MARGIN
42.91%
OPERATING MARGIN AVG TTM
43.28%
OPERATING MARGIN AVG 3Y
46.06%
OPERATING MARGIN AVG 5Y
44.69%
OPERATING MARGIN AVG 10Y
42.58%
OPERATING MARGIN AVG 15Y
38.53%
OPERATING MARGIN AVG 20Y
N/A
CURRENT VS TTM AVG
-0.85%
CURRENT VS 3Y AVG
-6.85%
CURRENT VS 5Y AVG
-3.99%
CURRENT VS 10Y AVG
+0.77%
CURRENT VS 15Y AVG
+11.36%
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · ENERGY
10.67%
median of 112 covered companies
CURRENT VS SECTOR MEDIAN
+302.16%
vs the sector median at left
Market Cap
$58.02B
Operating Margin
23.01%
TTM Avg
19.63%
3Y Avg
24.70%
5Y Avg
17.59%
Market Cap
$57.68B
Operating Margin
27.02%
TTM Avg
28.88%
3Y Avg
32.08%
5Y Avg
31.03%
Market Cap
$56.71B
Operating Margin
12.92%
TTM Avg
12.49%
3Y Avg
11.06%
5Y Avg
8.98%
Market Cap
$61.33B
Operating Margin
23.13%
TTM Avg
18.91%
3Y Avg
15.82%
5Y Avg
14.84%
Market Cap
$62.70B
Operating Margin
46.09%
TTM Avg
43.13%
3Y Avg
42.95%
5Y Avg
43.43%
Market Cap
$52.82B
Operating Margin
23.86%
TTM Avg
24.34%
3Y Avg
30.59%
5Y Avg
24.82%
Market Cap
$52.04B
Operating Margin
27.68%
TTM Avg
36.30%
3Y Avg
48.86%
5Y Avg
10.01%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| MPLX Lp (MPLX) | $58.62B | 42.91% | 43.28% | 46.06% | 44.69% |
| Occidental Petroleum Corporation (OXY)vs › | $58.02B | 23.01% | 19.63% | 24.70% | 17.59% |
| Cheniere Energy, Inc. (LNG)vs › | $57.68B | 27.02% | 28.88% | 32.08% | 31.03% |
| Baker Hughes Company (BKR)vs › | $56.71B | 12.92% | 12.49% | 11.06% | 8.98% |
| ONEOK, Inc. (OKE)vs › | $56.23B | 18.48% | 21.96% | 20.06% | 19.87% |
| Targa Resources Corp. (TRGP)vs › | $61.33B | 23.13% | 18.91% | 15.82% | 14.84% |
| TC Energy Corporation (TRP)vs › | $62.70B | 46.09% | 43.13% | 42.95% | 43.43% |
| Devon Energy Corporation (DVN)vs › | $52.82B | 23.86% | 24.34% | 30.59% | 24.82% |
| Diamondback Energy, Inc. (FANG)vs › | $52.04B | 27.68% | 36.30% | 48.86% | 10.01% |
| Energy Transfer LP (ET)vs › | $71.30B | 10.60% | 11.23% | 10.41% | 10.39% |
Gross Margin
52.2%
Operating Margin
42.9%
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 | 41.61% |
| 2026-03-31 | 35.77% |
| 2025-12-31 | 42.88% |
| 2025-09-30 | 49.77% |
| 2025-06-30 | 46.38% |
| 2025-03-31 | 47.32% |
| 2024-12-31 | 47.29% |
| 2024-09-30 | 45.93% |
| 2024-06-30 | 52.87% |
| 2024-03-31 | 48.04% |
| 2023-12-31 | 51.40% |
| 2023-09-30 | 42.52% |
| 2023-06-30 | 47.08% |
| 2023-03-31 | 46.92% |
| 2022-12-31 | 42.38% |
| 2022-09-30 | 61.03% |
| 2022-06-30 | 39.95% |
| 2022-03-31 | 42.38% |
| 2021-12-31 | 40.71% |
| 2021-09-30 | 42.22% |
| 2021-06-30 | 40.50% |
| 2021-03-31 | 43.48% |
| 2020-12-31 | 43.62% |
| 2020-09-30 | 42.07% |
| 2020-06-30 | 44.68% |
| 2020-03-31 | -117.76% |
| 2019-12-31 | -15.41% |
| 2019-09-30 | 43.03% |
| 2019-06-30 | 42.22% |
| 2019-03-31 | 42.78% |
| 2018-12-31 | 40.98% |
| 2018-09-30 | 41.51% |
| 2018-06-30 | 40.45% |
| 2018-03-31 | 41.82% |
| 2017-12-31 | 33.07% |
| 2017-09-30 | 33.33% |
| 2017-06-30 | 31.50% |
| 2017-03-31 | 30.96% |
| 2016-12-31 | 28.47% |
| 2016-09-30 | 31.97% |
| 2016-06-30 | 16.93% |
| 2016-03-31 | 8.10% |
| 2015-12-31 | 19.49% |
| 2015-09-30 | 34.87% |
| 2015-06-30 | 42.49% |
| 2015-03-31 | 40.44% |
| 2014-12-31 | 29.19% |
| 2014-09-30 | 33.82% |
| 2014-06-30 | 34.94% |
| 2014-03-31 | 43.08% |
| 2013-12-31 | 30.70% |
| 2013-09-30 | 33.67% |
| 2013-06-30 | 30.32% |
| 2013-03-31 | 32.30% |
| 2012-12-31 | 39.13% |
| 2012-09-30 | 31.24% |
| 2012-06-30 | 27.94% |
| 2012-03-31 | 35.79% |
| 2011-12-31 | 23.63% |
| 2011-09-30 | 35.77% |
| 2011-06-30 | 30.84% |
| 2011-03-31 | 38.77% |
