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 20.70% is 17% above its 5-year average of 17.73%, around the middle of its 5-year range (8.66%–34.80%).
4.50% above its 12-month average of 19.81%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
20.70%
OPERATING MARGIN AVG TTM
19.81%
OPERATING MARGIN AVG 3Y
17.85%
OPERATING MARGIN AVG 5Y
17.73%
OPERATING MARGIN AVG 10Y
22.98%
OPERATING MARGIN AVG 15Y
22.37%
OPERATING MARGIN AVG 20Y
20.06%
CURRENT VS TTM AVG
+4.50%
CURRENT VS 3Y AVG
+15.98%
CURRENT VS 5Y AVG
+16.78%
CURRENT VS 10Y AVG
-9.92%
CURRENT VS 15Y AVG
-7.48%
CURRENT VS 20Y AVG
+3.18%
SECTOR MEDIAN · FINANCIAL SERVICES
23.41%
median of 102 covered companies
CURRENT VS SECTOR MEDIAN
-11.58%
vs the sector median at left
Morgan Stanley
Market Cap
$342.82B
Operating Margin
20.70%
TTM Avg
19.81%
3Y Avg
17.85%
5Y Avg
17.73%
Market Cap
$305.63B
Operating Margin
24.81%
TTM Avg
15.98%
3Y Avg
15.38%
5Y Avg
21.07%
Market Cap
$267.41B
Operating Margin
21.17%
TTM Avg
19.52%
3Y Avg
19.13%
5Y Avg
19.19%
Market Cap
$443.54B
Operating Margin
22.47%
TTM Avg
17.44%
3Y Avg
19.57%
5Y Avg
22.46%
Market Cap
$220.70B
Operating Margin
17.14%
TTM Avg
17.26%
3Y Avg
16.84%
5Y Avg
17.11%
Market Cap
$203.69B
Operating Margin
17.92%
TTM Avg
15.18%
3Y Avg
19.96%
5Y Avg
22.93%
Market Cap
$187.92B
Operating Margin
43.49%
TTM Avg
35.50%
3Y Avg
34.52%
5Y Avg
35.70%
Market Cap
$499.01B
Operating Margin
59.84%
TTM Avg
58.73%
3Y Avg
58.24%
5Y Avg
56.53%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Morgan Stanley (MS) | $342.82B | 20.70% | 19.81% | 17.85% | 17.73% |
| The Goldman Sachs Group, Inc. (GS)vs › | $305.63B | 24.81% | 15.98% | 15.38% | 21.07% |
| Wells Fargo & Company (WFC)vs › | $267.41B | 21.17% | 19.52% | 19.13% | 19.19% |
| Bank of America Corporation (BAC)vs › | $443.54B | 22.47% | 17.44% | 19.57% | 22.46% |
| Citigroup Inc. (C)vs › | $235.55B | 14.18% | 10.88% | 12.21% | 16.43% |
| American Express Company (AXP)vs › | $220.70B | 17.14% | 17.26% | 16.84% | 17.11% |
| The Toronto-Dominion Bank (TD)vs › | $203.69B | 17.92% | 15.18% | 19.96% | 22.93% |
| The Charles Schwab Corporation (SCHW)vs › | $187.92B | 43.49% | 35.50% | 34.52% | 35.70% |
| Mastercard Incorporated (MA)vs › | $499.01B | 59.84% | 58.73% | 58.24% | 56.53% |
| Invesco QQQ Trust, Series 1 (QQQ)vs › | $512.45B | N/A | N/A | N/A | N/A |
Gross Margin
59.7%
Operating Margin
20.7%
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 | 21.46% |
| 2026-03-31 | 21.15% |
| 2025-12-31 | 19.96% |
| 2025-09-30 | 20.06% |
| 2025-06-30 | 16.41% |
| 2025-03-31 | 19.86% |
| 2024-12-31 | 18.88% |
| 2024-09-30 | 16.03% |
| 2024-06-30 | 15.99% |
| 2024-03-31 | 17.34% |
| 2023-12-31 | 8.66% |
| 2023-09-30 | 13.94% |
| 2023-06-30 | 13.09% |
| 2023-03-31 | 17.68% |
| 2022-12-31 | 14.85% |
| 2022-09-30 | 21.54% |
| 2022-06-30 | 24.43% |
| 2022-03-31 | 31.97% |
| 2021-12-31 | 34.80% |
| 2021-09-30 | 34.29% |
| 2021-06-30 | 31.91% |
| 2021-03-31 | 35.12% |
| 2020-12-31 | 33.46% |
| 2020-09-30 | 30.08% |
| 2020-06-30 | 31.78% |
| 2020-03-31 | 19.18% |
| 2019-12-31 | 21.45% |
| 2019-09-30 | 21.63% |
| 2019-06-30 | 22.18% |
| 2019-03-31 | 22.79% |
| 2018-12-31 | 16.77% |
| 2018-09-30 | 23.75% |
| 2018-06-30 | 25.09% |
| 2018-03-31 | 27.73% |
| 2017-12-31 | 23.41% |
| 2017-09-30 | 24.26% |
| 2017-06-30 | 25.57% |
| 2017-03-31 | 26.92% |
| 2016-12-31 | 23.58% |
| 2016-09-30 | 26.02% |
| 2016-06-30 | 27.05% |
| 2016-03-31 | 21.26% |
| 2015-12-31 | 18.55% |
| 2015-09-30 | 18.49% |
| 2015-06-30 | 27.42% |
| 2015-03-31 | 27.63% |
| 2014-12-31 | -36.06% |
| 2014-09-30 | 23.88% |
| 2014-06-30 | 21.15% |
| 2014-03-31 | 24.72% |
| 2013-12-31 | -2.61% |
| 2013-09-30 | 15.71% |
| 2013-06-30 | 19.69% |
| 2013-03-31 | 17.73% |
| 2012-12-31 | 13.07% |
| 2012-09-30 | -22.97% |
| 2012-06-30 | 11.68% |
| 2012-03-31 | 2.49% |
| 2011-12-31 | -7.26% |
| 2011-09-30 | 32.27% |
| 2011-06-30 | 17.53% |
| 2011-03-31 | 9.56% |
| 2010-12-31 | 15.79% |
| 2010-09-30 | 9.39% |
| 2010-06-30 | 17.80% |
| 2010-03-31 | 24.09% |
| 2009-12-31 | 20.52% |
| 2009-09-30 | 15.20% |
| 2009-06-30 | -8.29% |
| 2009-03-31 | -12.10% |
| 2008-11-30 | -105.58% |
| 2008-08-31 | 11.71% |
| 2008-05-31 | 8.86% |
| 2008-02-29 | 10.46% |
| 2007-11-30 | -43.96% |
| 2007-08-31 | 10.58% |
| 2007-05-31 | 13.38% |
| 2007-02-28 | 15.48% |
| 2006-11-30 | 16.75% |
| 2006-08-31 | 12.15% |
| 2006-05-31 | 15.33% |
| 2006-02-28 | 13.16% |
| 2005-11-30 | 13.57% |
| 2005-08-31 | 12.44% |
| 2005-05-31 | 11.24% |
| 2005-02-28 | 17.54% |
| 2004-11-30 | 15.09% |
| 2004-08-31 | 12.22% |
| 2004-05-31 | 17.57% |
| 2004-02-29 | 18.92% |
| 2003-11-30 | 13.47% |
| 2003-08-31 | 15.60% |
| 2003-05-31 | 10.39% |
| 2003-02-28 | 16.51% |
| 2002-11-30 | 14.99% |
| 2002-08-31 | 11.62% |
