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 30.54% is 22% above its 5-year average of 25.05%, near the high end of its 5-year range (14.57%–34.24%).
1.29% below its 12-month average of 30.94%.
Reported quarterly operating margin; no daily interpolation. Q2 FY2026 (2026-06-30): 32.84%.
OPERATING MARGIN
30.54%
OPERATING MARGIN AVG TTM
30.94%
OPERATING MARGIN AVG 3Y
28.95%
OPERATING MARGIN AVG 5Y
25.05%
OPERATING MARGIN AVG 10Y
21.66%
OPERATING MARGIN AVG 15Y
19.97%
OPERATING MARGIN AVG 20Y
20.84%
CURRENT VS TTM AVG
-1.29%
CURRENT VS 3Y AVG
+5.51%
CURRENT VS 5Y AVG
+21.92%
CURRENT VS 10Y AVG
+41.02%
CURRENT VS 15Y AVG
+52.96%
CURRENT VS 20Y AVG
+46.54%
SECTOR MEDIAN · HEALTHCARE
13.86%
median of 98 covered companies
CURRENT VS SECTOR MEDIAN
+120.43%
vs the sector median at left
Market Cap
$243.33B
Operating Margin
22.77%
TTM Avg
20.95%
3Y Avg
17.06%
5Y Avg
15.08%
Market Cap
$242.11B
Operating Margin
17.97%
TTM Avg
18.04%
3Y Avg
18.11%
5Y Avg
20.54%
Market Cap
$332.94B
Operating Margin
29.16%
TTM Avg
25.33%
3Y Avg
25.67%
5Y Avg
27.00%
Market Cap
$337.74B
Operating Margin
4.82%
TTM Avg
6.16%
3Y Avg
7.45%
5Y Avg
7.80%
Market Cap
$356.40B
Operating Margin
36.17%
TTM Avg
33.84%
3Y Avg
25.86%
5Y Avg
23.98%
Market Cap
$179.47B
Operating Margin
39.74%
TTM Avg
22.76%
3Y Avg
25.11%
5Y Avg
25.54%
Market Cap
$168.71B
Operating Margin
17.03%
TTM Avg
17.21%
3Y Avg
17.41%
5Y Avg
17.71%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Novartis AG (NVS) | $268.00B | 30.54% | 30.94% | 28.95% | 25.05% |
| AstraZeneca PLC (AZN)vs › | $243.33B | 22.77% | 20.95% | 17.06% | 15.08% |
| Thermo Fisher Scientific Inc. (TMO)vs › | $242.11B | 17.97% | 18.04% | 18.11% | 20.54% |
| Amgen Inc. (AMGN)vs › | $217.52B | 33.18% | 25.38% | 28.78% | 30.08% |
| Roche Holding AG (RHHBY)vs › | $332.94B | 29.16% | 25.33% | 25.67% | 27.00% |
| UnitedHealth Group Incorporated (UNH)vs › | $337.74B | 4.82% | 6.16% | 7.45% | 7.80% |
| Merck & Co., Inc. (MRK)vs › | $356.40B | 36.17% | 33.84% | 25.86% | 23.98% |
| Gilead Sciences, Inc. (GILD)vs › | $179.47B | 39.74% | 22.76% | 25.11% | 25.54% |
| Abbott Laboratories (ABT)vs › | $168.71B | 17.03% | 17.21% | 17.41% | 17.71% |
| Novo Nordisk A/S (NVO)vs › | $165.72B | 43.10% | 42.74% | 42.98% | 42.70% |
Gross Margin
74.4%
Operating Margin
30.5%
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 | 32.84% |
| 2026-03-31 | 31.31% |
| 2025-12-31 | 26.40% |
| 2025-09-29 | 31.35% |
| 2025-06-30 | 32.79% |
| 2025-03-31 | 34.24% |
| 2024-12-31 | 26.04% |
| 2024-09-30 | 27.54% |
| 2024-06-30 | 31.18% |
| 2024-03-31 | 27.83% |
| 2023-12-31 | 21.93% |
| 2023-09-30 | 14.57% |
| 2023-06-30 | 23.90% |
| 2023-03-31 | 23.70% |
| 2022-12-31 | 14.89% |
| 2022-09-30 | 16.93% |
| 2022-06-30 | 17.03% |
| 2022-03-31 | 22.26% |
| 2021-12-31 | 18.95% |
| 2021-09-30 | 24.19% |
| 2021-06-30 | 26.17% |
| 2021-03-31 | 19.02% |
| 2020-12-31 | 20.29% |
| 2020-09-30 | 19.24% |
| 2020-06-30 | 20.24% |
| 2020-03-31 | 21.59% |
| 2019-12-31 | 14.34% |
| 2019-09-30 | 18.89% |
| 2019-06-30 | 22.15% |
| 2019-03-31 | 19.57% |
| 2018-12-31 | 9.51% |
| 2018-09-30 | 19.66% |
| 2018-06-30 | 20.86% |
| 2018-03-31 | 21.24% |
| 2017-12-31 | 15.72% |
| 2017-09-30 | 18.57% |
| 2017-06-30 | 18.25% |
| 2017-03-31 | 16.31% |
| 2016-12-31 | 11.54% |
| 2016-09-30 | 18.39% |
| 2016-06-30 | 16.51% |
| 2016-03-31 | 20.75% |
| 2015-12-31 | 13.10% |
| 2015-09-30 | 17.89% |
| 2015-06-30 | 17.69% |
| 2015-03-31 | 22.82% |
| 2014-12-31 | 17.61% |
| 2014-09-30 | 20.59% |
| 2014-06-30 | 22.83% |
| 2014-03-31 | 21.60% |
| 2013-12-31 | 15.45% |
| 2013-09-30 | 19.82% |
| 2013-06-30 | 22.84% |
| 2013-03-31 | 20.39% |
| 2012-12-31 | 16.47% |
| 2012-09-30 | 21.00% |
| 2012-06-30 | 21.37% |
| 2012-03-31 | 19.67% |
| 2011-12-31 | 8.78% |
| 2011-09-30 | 19.63% |
| 2011-06-30 | 21.97% |
| 2011-03-31 | 23.96% |
| 2010-12-31 | 17.06% |
| 2010-09-30 | 20.18% |
| 2010-06-30 | 24.84% |
| 2010-03-31 | 28.42% |
| 2009-12-31 | 20.06% |
| 2009-09-30 | 23.33% |
| 2009-06-30 | 22.01% |
| 2009-03-31 | 23.64% |
| 2008-12-31 | 16.24% |
| 2008-09-30 | 21.17% |
| 2008-06-30 | 22.39% |
| 2008-03-31 | 24.35% |
| 2007-12-31 | 3.02% |
| 2007-09-30 | 20.80% |
| 2007-06-30 | 23.71% |
| 2007-03-31 | 24.91% |
| 2006-12-31 | 17.16% |
| 2006-09-30 | 21.93% |
| 2006-06-30 | 26.19% |
| 2006-03-31 | 25.25% |
| 2005-12-31 | 17.00% |
| 2005-09-30 | 22.24% |
| 2005-06-30 | 23.49% |
| 2005-03-31 | 22.89% |
| 2004-12-31 | 20.24% |
| 2004-09-30 | 24.33% |
| 2004-06-30 | 25.73% |
| 2004-03-31 | 22.50% |
| 2003-12-31 | 23.86% |
| 2003-09-30 | 23.66% |
| 2003-06-30 | 23.59% |
| 2003-03-31 | 23.61% |
| 2002-12-31 | 24.19% |
| 2002-09-30 | 24.55% |
