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 32.44% is in line with its 5-year average of 32.21%, near the high end of its 5-year range (10.39%–41.17%).
As of the fiscal period ended Tuesday, June 30, 2026. 0.21% above its 12-month average of 32.37%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
32.44%
OPERATING MARGIN AVG TTM
32.37%
OPERATING MARGIN AVG 3Y
31.37%
OPERATING MARGIN AVG 5Y
33.30%
OPERATING MARGIN AVG 10Y
34.39%
OPERATING MARGIN AVG 15Y
32.40%
OPERATING MARGIN AVG 20Y
30.91%
CURRENT VS TTM AVG
+0.21%
CURRENT VS 3Y AVG
+3.40%
CURRENT VS 5Y AVG
-2.58%
CURRENT VS 10Y AVG
-5.67%
CURRENT VS 15Y AVG
+0.13%
CURRENT VS 20Y AVG
+4.95%
SECTOR MEDIAN · INDUSTRIALS
13.50%
median of 133 covered companies
CURRENT VS SECTOR MEDIAN
+140.29%
vs the sector median at left
Norfolk Southern Corporation
Market Cap
$78.76B
Operating Margin
32.44%
TTM Avg
32.37%
3Y Avg
31.37%
5Y Avg
33.30%
Market Cap
$78.54B
Operating Margin
37.76%
TTM Avg
37.36%
3Y Avg
38.48%
5Y Avg
37.88%
Market Cap
$77.06B
Operating Margin
14.09%
TTM Avg
18.38%
3Y Avg
18.34%
5Y Avg
18.14%
Market Cap
$77.03B
Operating Margin
10.18%
TTM Avg
10.43%
3Y Avg
9.29%
5Y Avg
10.67%
Market Cap
$81.42B
Operating Margin
26.42%
TTM Avg
26.55%
3Y Avg
25.49%
5Y Avg
24.82%
Market Cap
$81.99B
Operating Margin
36.78%
TTM Avg
36.40%
3Y Avg
36.38%
5Y Avg
38.09%
Market Cap
$82.39B
Operating Margin
23.14%
TTM Avg
22.98%
3Y Avg
21.99%
5Y Avg
21.27%
Market Cap
$82.86B
Operating Margin
19.96%
TTM Avg
17.42%
3Y Avg
17.53%
5Y Avg
16.97%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Norfolk Southern Corporation (NSC) | $78.76B | 32.44% | 32.37% | 31.37% | 33.30% |
| Canadian National Railway Company (CNI)vs › | $78.54B | 37.76% | 37.36% | 38.48% | 37.88% |
| Honeywell International Inc. (HON)vs › | $77.06B | 14.09% | 18.38% | 18.34% | 18.14% |
| Northrop Grumman Corporation (NOC)vs › | $77.03B | 10.18% | 10.43% | 9.29% | 10.67% |
| Illinois Tool Works Inc. (ITW)vs › | $81.42B | 26.42% | 26.55% | 25.49% | 24.82% |
| Canadian Pacific Kansas City Ltd. (CP)vs › | $81.99B | 36.78% | 36.40% | 36.38% | 38.09% |
| Cintas Corporation (CTAS)vs › | $82.39B | 23.14% | 22.98% | 21.99% | 21.27% |
| Emerson Electric Co. (EMR)vs › | $82.86B | 19.96% | 17.42% | 17.53% | 16.97% |
| FedEx Corporation (FDX)vs › | $74.51B | 6.74% | 6.96% | 6.77% | 6.87% |
| United Parcel Service, Inc. (UPS)vs › | $85.70B | 8.46% | 9.21% | 10.43% | 10.75% |
Gross Margin
42.4%
Operating Margin
32.4%
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 | 32.44% |
| 2026-03-31 | 29.25% |
| 2025-12-31 | 31.51% |
| 2025-09-30 | 33.16% |
| 2025-06-30 | 35.50% |
| 2025-03-31 | 31.34% |
| 2024-12-31 | 36.14% |
| 2024-09-30 | 41.17% |
| 2024-06-30 | 36.24% |
| 2024-03-31 | 10.39% |
| 2023-12-31 | 25.87% |
| 2023-09-30 | 25.18% |
| 2023-06-30 | 18.69% |
| 2023-03-31 | 22.61% |
| 2022-12-31 | 35.71% |
| 2022-09-30 | 37.54% |
| 2022-06-30 | 38.25% |
| 2022-03-31 | 37.02% |
| 2021-12-31 | 39.38% |
| 2021-09-30 | 39.66% |
| 2021-06-30 | 39.30% |
| 2021-03-31 | 38.31% |
| 2020-12-31 | 38.24% |
| 2020-09-30 | 33.52% |
| 2020-06-30 | 29.26% |
| 2020-03-31 | 36.30% |
| 2019-12-31 | 35.76% |
| 2019-09-30 | 33.93% |
| 2019-06-30 | 36.41% |
| 2019-03-31 | 34.01% |
| 2018-12-31 | 37.22% |
| 2018-09-30 | 34.61% |
| 2018-06-30 | 35.40% |
| 2018-03-31 | 30.73% |
| 2017-12-31 | 37.39% |
| 2017-09-30 | 33.52% |
| 2017-06-30 | 33.07% |
| 2017-03-31 | 30.02% |
| 2016-12-31 | 30.56% |
| 2016-09-30 | 32.49% |
| 2016-06-30 | 31.38% |
| 2016-03-31 | 29.88% |
| 2015-12-31 | 25.50% |
| 2015-09-30 | 30.30% |
| 2015-06-30 | 30.00% |
| 2015-03-31 | 23.61% |
| 2014-12-31 | 31.05% |
| 2014-09-30 | 33.01% |
| 2014-06-30 | 33.50% |
| 2014-03-31 | 24.80% |
| 2013-12-31 | 30.58% |
| 2013-09-30 | 30.06% |
| 2013-06-30 | 29.84% |
| 2013-03-31 | 25.24% |
| 2012-12-31 | 26.60% |
| 2012-09-30 | 27.14% |
| 2012-06-30 | 32.50% |
| 2012-03-31 | 26.71% |
| 2011-12-31 | 28.60% |
| 2011-09-30 | 32.47% |
| 2011-06-30 | 30.53% |
| 2011-03-31 | 22.90% |
| 2010-12-31 | 26.84% |
| 2010-09-30 | 30.37% |
| 2010-06-30 | 30.16% |
| 2010-03-31 | 24.80% |
| 2009-12-31 | 26.07% |
| 2009-09-30 | 27.24% |
| 2009-06-30 | 25.20% |
| 2009-03-31 | 19.71% |
| 2008-12-31 | 32.49% |
| 2008-09-30 | 30.89% |
| 2008-06-30 | 28.90% |
| 2008-03-31 | 23.12% |
| 2007-12-31 | 27.95% |
| 2007-09-30 | 28.94% |
| 2007-06-30 | 29.02% |
| 2007-03-31 | 23.50% |
| 2006-12-31 | 26.48% |
| 2006-09-30 | 29.88% |
| 2006-06-30 | 28.30% |
| 2006-03-31 | 23.93% |
| 2005-12-31 | 26.32% |
| 2005-09-30 | 24.50% |
| 2005-06-30 | 27.48% |
| 2005-03-31 | 20.55% |
| 2004-12-31 | 23.70% |
| 2004-09-30 | 25.26% |
| 2004-06-30 | 23.44% |
| 2004-03-31 | 20.44% |
| 2003-12-31 | 13.37% |
| 2003-09-30 | 19.46% |
| 2003-06-30 | 18.25% |
| 2003-03-31 | 14.80% |
| 2002-12-31 | 18.22% |
| 2002-09-30 | 19.46% |
