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 36.17% is 10% above its 5-year average of 32.74%, near the high end of its 5-year range (-33.34%–43.43%).
71.04% above its 12-month average of 21.15%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
36.17%
OPERATING MARGIN AVG TTM
21.15%
OPERATING MARGIN AVG 3Y
20.52%
OPERATING MARGIN AVG 5Y
32.74%
OPERATING MARGIN AVG 10Y
28.48%
OPERATING MARGIN AVG 15Y
24.32%
OPERATING MARGIN AVG 20Y
22.71%
CURRENT VS TTM AVG
+71.04%
CURRENT VS 3Y AVG
+76.29%
CURRENT VS 5Y AVG
+10.49%
CURRENT VS 10Y AVG
+26.99%
CURRENT VS 15Y AVG
+48.70%
CURRENT VS 20Y AVG
+59.28%
SECTOR MEDIAN · HEALTHCARE
14.90%
median of 90 covered companies
CURRENT VS SECTOR MEDIAN
+142.75%
vs the sector median at left
Merck & Co., Inc.
Market Cap
$366.74B
Operating Margin
36.17%
TTM Avg
21.15%
3Y Avg
20.52%
5Y Avg
32.74%
Market Cap
$364.02B
Operating Margin
4.82%
TTM Avg
6.16%
3Y Avg
7.45%
5Y Avg
7.80%
Market Cap
$344.74B
Operating Margin
29.16%
TTM Avg
25.33%
3Y Avg
25.67%
5Y Avg
27.00%
Market Cap
$248.20B
Operating Margin
22.77%
TTM Avg
20.95%
3Y Avg
17.06%
5Y Avg
15.08%
Market Cap
$224.09B
Operating Margin
17.69%
TTM Avg
18.04%
3Y Avg
18.11%
5Y Avg
20.54%
Market Cap
$200.54B
Operating Margin
43.10%
TTM Avg
42.74%
3Y Avg
42.98%
5Y Avg
42.70%
Market Cap
$182.59B
Operating Margin
17.03%
TTM Avg
17.21%
3Y Avg
17.41%
5Y Avg
17.71%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Merck & Co., Inc. (MRK) | $366.74B | 36.17% | 21.15% | 20.52% | 32.74% |
| UnitedHealth Group Incorporated (UNH)vs › | $364.02B | 4.82% | 6.16% | 7.45% | 7.80% |
| Roche Holding AG (RHHBY)vs › | $344.74B | 29.16% | 25.33% | 25.67% | 27.00% |
| AbbVie Inc. (ABBV)vs › | $439.68B | 29.32% | 24.54% | 25.94% | 26.75% |
| AstraZeneca PLC (AZN)vs › | $248.20B | 22.77% | 20.95% | 17.06% | 15.08% |
| Thermo Fisher Scientific Inc. (TMO)vs › | $224.09B | 17.69% | 18.04% | 18.11% | 20.54% |
| Amgen Inc. (AMGN)vs › | $212.20B | 33.18% | 25.38% | 28.78% | 30.08% |
| Novo Nordisk A/S (NVO)vs › | $200.54B | 43.10% | 42.74% | 42.98% | 42.70% |
| Abbott Laboratories (ABT)vs › | $182.59B | 17.03% | 17.21% | 17.41% | 17.71% |
| Gilead Sciences, Inc. (GILD)vs › | $182.06B | 39.74% | 22.76% | 25.11% | 25.54% |
Gross Margin
75.4%
Operating Margin
36.2%
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 | -4.11% |
| 2026-03-31 | -11.57% |
| 2025-12-31 | 37.74% |
| 2025-09-30 | 43.43% |
| 2025-06-30 | 40.25% |
| 2025-03-31 | 42.96% |
| 2024-12-31 | 27.83% |
| 2024-09-30 | 23.92% |
| 2024-06-30 | 38.03% |
| 2024-03-31 | 36.51% |
| 2023-12-31 | -11.71% |
| 2023-09-30 | 36.79% |
| 2023-06-30 | -33.34% |
| 2023-03-31 | 26.27% |
| 2022-12-31 | 25.21% |
| 2022-09-30 | 27.45% |
| 2022-06-30 | 34.72% |
| 2022-03-31 | 35.36% |
| 2021-12-31 | 27.73% |
| 2021-09-30 | 37.43% |
| 2021-06-30 | 14.87% |
| 2021-03-31 | 26.62% |
| 2020-12-31 | -15.50% |
| 2020-09-30 | 22.94% |
| 2020-06-30 | 26.05% |
| 2020-03-31 | 33.02% |
| 2019-12-31 | 23.27% |
| 2019-09-30 | 21.09% |
| 2019-06-30 | 29.40% |
| 2019-03-31 | 31.51% |
| 2018-12-31 | 25.93% |
| 2018-09-30 | 24.68% |
| 2018-06-30 | 21.65% |
| 2018-03-31 | 11.45% |
| 2017-12-31 | 20.77% |
| 2017-09-30 | 1.41% |
| 2017-06-30 | 25.50% |
| 2017-03-31 | 22.08% |
| 2016-12-31 | -4.54% |
| 2016-09-30 | 29.14% |
| 2016-06-30 | 16.83% |
| 2016-03-31 | 18.93% |
| 2015-12-31 | 19.11% |
| 2015-09-30 | 23.23% |
| 2015-06-30 | 17.75% |
| 2015-03-31 | 16.11% |
| 2014-12-31 | 14.55% |
| 2014-09-30 | 16.10% |
| 2014-06-30 | 12.84% |
| 2014-03-31 | 20.00% |
| 2013-12-31 | 16.75% |
| 2013-09-30 | 22.34% |
| 2013-06-30 | 13.49% |
| 2013-03-31 | 17.04% |
| 2012-12-31 | 16.72% |
| 2012-09-30 | 20.63% |
| 2012-06-30 | 22.62% |
| 2012-03-31 | 23.51% |
| 2011-12-31 | 16.23% |
| 2011-09-30 | 19.76% |
| 2011-06-30 | 20.25% |
| 2011-03-31 | 18.99% |
| 2010-12-31 | -3.65% |
| 2010-09-30 | 12.76% |
| 2010-06-30 | 12.72% |
| 2010-03-31 | 8.17% |
| 2009-12-31 | -2.32% |
| 2009-09-30 | 27.11% |
| 2009-06-30 | 24.09% |
| 2009-03-31 | 22.18% |
| 2008-12-31 | 21.78% |
| 2008-09-30 | 26.32% |
| 2008-06-30 | 25.71% |
| 2008-03-31 | 28.36% |
| 2007-12-31 | 25.58% |
| 2007-09-30 | 19.17% |
| 2007-06-30 | 23.64% |
| 2007-03-31 | 24.47% |
| 2006-12-31 | 5.07% |
| 2006-09-30 | 10.17% |
| 2006-06-30 | 24.60% |
| 2006-03-31 | 26.07% |
| 2005-12-31 | 19.59% |
| 2005-09-30 | 27.58% |
| 2005-06-30 | 29.35% |
| 2005-03-31 | 30.56% |
| 2004-12-31 | 17.22% |
| 2004-09-30 | 27.12% |
| 2004-06-30 | 37.46% |
| 2004-03-31 | 33.30% |
| 2003-12-31 | 29.74% |
| 2003-09-30 | 42.32% |
| 2003-06-30 | 38.44% |
| 2003-03-31 | 38.33% |
| 2002-12-31 | 19.02% |
| 2002-09-30 | 43.10% |
