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 -10.70% is 73% above its 5-year average of -39.19%, near the high end of its 5-year range (-94.99%–-3.42%).
15.86% above its 12-month average of -12.72%.
Reported quarterly operating margin; no daily interpolation. Q2 FY2026 (2026-06-30): -10.07%.
OPERATING MARGIN
-10.70%
OPERATING MARGIN AVG TTM
-12.72%
OPERATING MARGIN AVG 3Y
-14.54%
OPERATING MARGIN AVG 5Y
-39.19%
OPERATING MARGIN AVG 10Y
-44.96%
OPERATING MARGIN AVG 15Y
N/A
OPERATING MARGIN AVG 20Y
N/A
CURRENT VS TTM AVG
+15.86%
CURRENT VS 3Y AVG
+26.40%
CURRENT VS 5Y AVG
+72.70%
CURRENT VS 10Y AVG
+76.20%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · HEALTHCARE
13.86%
median of 98 covered companies
CURRENT VS SECTOR MEDIAN
-177.23%
vs the sector median at left
Natera, Inc.
Market Cap
$58.77B
Operating Margin
-10.70%
TTM Avg
-12.72%
3Y Avg
-14.54%
5Y Avg
-39.19%
Market Cap
$63.32B
Operating Margin
21.46%
TTM Avg
17.76%
3Y Avg
16.30%
5Y Avg
14.57%
Market Cap
$53.47B
Operating Margin
1.03%
TTM Avg
1.02%
3Y Avg
0.74%
5Y Avg
0.49%
Market Cap
$49.03B
Operating Margin
28.09%
TTM Avg
26.16%
3Y Avg
28.11%
5Y Avg
28.79%
Market Cap
$48.72B
Operating Margin
9.83%
TTM Avg
11.84%
3Y Avg
11.67%
5Y Avg
10.68%
Market Cap
$47.38B
Operating Margin
22.23%
TTM Avg
22.07%
3Y Avg
21.88%
5Y Avg
20.79%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Natera, Inc. (NTRA) | $58.77B | -10.70% | -12.72% | -14.54% | -39.19% |
| Cencora, Inc. (COR)vs › | $60.13B | 1.30% | 1.08% | 1.06% | 1.09% |
| Boston Scientific Corporation (BSX)vs › | $63.32B | 21.46% | 17.76% | 16.30% | 14.57% |
| Cardinal Health, Inc. (CAH)vs › | $53.47B | 1.03% | 1.02% | 0.74% | 0.49% |
| Edwards Lifesciences Corporation (EW)vs › | $49.03B | 28.09% | 26.16% | 28.11% | 28.79% |
| Becton, Dickinson and Company (BDX)vs › | $48.72B | 9.83% | 11.84% | 11.67% | 10.68% |
| Agilent Technologies, Inc. (A)vs › | $47.38B | 22.23% | 22.07% | 21.88% | 20.79% |
| Humana Inc. (HUM)vs › | $46.63B | 1.39% | 1.25% | 2.37% | 3.27% |
| Cigna Corporation (CI)vs › | $71.48B | 3.46% | 3.56% | 4.04% | 4.30% |
| Teva Pharmaceutical Industries Limited (TEVA)vs › | $46.04B | 11.45% | 5.33% | -0.33% | -1.99% |
Gross Margin
65.3%
Operating Margin
-10.7%
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 | -10.07% |
| 2026-03-31 | -13.42% |
| 2025-12-31 | -3.42% |
| 2025-09-30 | -16.48% |
| 2025-06-30 | -20.19% |
| 2025-03-31 | -15.78% |
| 2024-12-31 | -13.60% |
| 2024-09-30 | -8.95% |
| 2024-06-30 | -10.62% |
| 2024-03-31 | -20.21% |
| 2023-12-31 | -27.17% |
| 2023-09-30 | -41.36% |
| 2023-06-30 | -43.01% |
| 2023-03-31 | -57.21% |
| 2022-12-31 | -65.26% |
| 2022-09-30 | -56.52% |
| 2022-06-30 | -72.19% |
| 2022-03-31 | -70.64% |
| 2021-12-31 | -80.72% |
| 2021-09-30 | -94.99% |
| 2021-06-30 | -81.18% |
| 2021-03-31 | -41.37% |
| 2020-12-31 | -65.82% |
| 2020-09-30 | -56.83% |
| 2020-06-30 | -59.74% |
| 2020-03-31 | -37.09% |
| 2019-12-31 | -41.82% |
| 2019-09-30 | -27.08% |
| 2019-06-30 | -38.51% |
| 2019-03-31 | -47.51% |
| 2018-12-31 | -44.39% |
| 2018-09-30 | -41.61% |
| 2018-06-30 | -43.16% |
| 2018-03-31 | -48.95% |
| 2017-12-31 | -83.54% |
| 2017-09-30 | -44.20% |
| 2017-06-30 | -50.43% |
| 2017-03-31 | -78.96% |
| 2016-12-31 | -76.50% |
| 2016-09-30 | -49.46% |
| 2016-06-30 | -43.31% |
| 2016-03-31 | -15.52% |
| 2015-12-31 | -32.79% |
| 2015-09-30 | -46.17% |
| 2015-06-30 | -34.32% |
| 2015-03-31 | -13.23% |
| 2014-12-31 | 8.77% |
| 2014-09-30 | 10.33% |
| 2014-06-30 | -3.36% |
| 2014-03-31 | -26.68% |
| 2013-12-31 | -15.65% |
| 2013-09-30 | -27.09% |
| 2013-03-31 | -212.26% |
