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 14.85% is 23% below its 5-year average of 19.23%, near the low end of its 5-year range (12.32%–32.70%).
As of the fiscal period ended Tuesday, March 31, 2026. 23.25% below its 12-month average of 19.34%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
14.85%
OPERATING MARGIN AVG TTM
19.34%
OPERATING MARGIN AVG 3Y
21.65%
OPERATING MARGIN AVG 5Y
19.23%
OPERATING MARGIN AVG 10Y
17.66%
OPERATING MARGIN AVG 15Y
14.77%
OPERATING MARGIN AVG 20Y
12.52%
CURRENT VS TTM AVG
-23.25%
CURRENT VS 3Y AVG
-31.43%
CURRENT VS 5Y AVG
-22.80%
CURRENT VS 10Y AVG
-15.91%
CURRENT VS 15Y AVG
+0.50%
CURRENT VS 20Y AVG
+18.57%
SECTOR MEDIAN · ENERGY
15.72%
median of 42 covered companies
CURRENT VS SECTOR MEDIAN
-5.55%
vs the sector median at left
Market Cap
$57.58B
Operating Margin
32.73%
TTM Avg
36.30%
3Y Avg
48.86%
5Y Avg
10.01%
Market Cap
$60.39B
Operating Margin
21.11%
TTM Avg
18.91%
3Y Avg
15.82%
5Y Avg
14.84%
Market Cap
$56.99B
Operating Margin
12.39%
TTM Avg
19.63%
3Y Avg
24.70%
5Y Avg
17.59%
Market Cap
$56.80B
Operating Margin
12.96%
TTM Avg
12.49%
3Y Avg
11.06%
5Y Avg
8.98%
Market Cap
$70.06B
Operating Margin
11.11%
TTM Avg
11.23%
3Y Avg
10.41%
5Y Avg
10.39%
Market Cap
$73.11B
Operating Margin
29.04%
TTM Avg
28.73%
3Y Avg
26.70%
5Y Avg
27.54%
Market Cap
$77.71B
Operating Margin
27.38%
TTM Avg
32.16%
3Y Avg
34.03%
5Y Avg
30.70%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| ONEOK, Inc. (OKE) | $58.69B | 14.85% | 19.34% | 21.65% | 19.23% |
| Diamondback Energy, Inc. (FANG)vs › | $57.58B | 32.73% | 36.30% | 48.86% | 10.01% |
| Targa Resources Corp. (TRGP)vs › | $60.39B | 21.11% | 18.91% | 15.82% | 14.84% |
| Occidental Petroleum Corporation (OXY)vs › | $56.99B | 12.39% | 19.63% | 24.70% | 17.59% |
| Baker Hughes Company (BKR)vs › | $56.80B | 12.96% | 12.49% | 11.06% | 8.98% |
| Energy Transfer LP (ET)vs › | $70.06B | 11.11% | 11.23% | 10.41% | 10.39% |
| Kinder Morgan, Inc. (KMI)vs › | $73.11B | 29.04% | 28.73% | 26.70% | 27.54% |
| Eni S.p.A. (E)vs › | $76.03B | 5.36% | 8.46% | 10.75% | 10.27% |
| Suncor Energy Inc. (SU)vs › | $77.71B | 27.38% | 32.16% | 34.03% | 30.70% |
| EOG Resources, Inc. (EOG)vs › | $77.97B | 36.92% | 34.86% | 36.23% | 28.41% |
Gross Margin
23.9%
Operating Margin
14.8%
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 |
|---|---|
| 2026-03-31 | 14.85% |
| 2025-12-31 | 29.72% |
| 2025-09-30 | 18.04% |
| 2025-06-30 | 18.42% |
| 2025-03-31 | 15.69% |
| 2024-12-31 | 22.40% |
| 2024-09-30 | 22.66% |
| 2024-06-30 | 25.11% |
| 2024-03-31 | 22.25% |
| 2023-12-31 | 23.92% |
| 2023-09-30 | 19.62% |
| 2023-06-30 | 16.08% |
| 2023-03-31 | 32.70% |
| 2022-12-31 | 15.04% |
| 2022-09-30 | 13.26% |
| 2022-06-30 | 12.32% |
| 2022-03-31 | 13.04% |
| 2021-12-31 | 13.20% |
| 2021-09-30 | 15.63% |
| 2021-06-30 | 18.61% |
| 2021-03-31 | 21.31% |
| 2020-12-31 | 24.11% |
| 2020-09-30 | 25.31% |
| 2020-06-30 | 19.70% |
| 2020-03-31 | 23.44% |
| 2019-12-31 | 18.35% |
| 2019-09-30 | 20.65% |
| 2019-06-30 | 18.99% |
| 2019-03-31 | 16.29% |
| 2018-12-31 | 14.69% |
| 2018-09-30 | 15.11% |
| 2018-06-30 | 15.43% |
| 2018-03-31 | 16.14% |
| 2017-12-31 | 11.29% |
| 2017-09-30 | 13.24% |
| 2017-06-30 | 11.91% |
| 2017-03-31 | 11.90% |
| 2016-12-31 | 12.54% |
| 2016-09-30 | 13.66% |
| 2016-06-30 | 14.77% |
| 2016-03-31 | 17.55% |
| 2015-12-31 | 12.53% |
| 2015-09-30 | 15.00% |
| 2015-06-30 | 12.82% |
| 2015-03-31 | 10.88% |
| 2014-12-31 | 10.78% |
| 2014-09-30 | 9.34% |
| 2014-06-30 | 8.19% |
| 2014-03-31 | 9.30% |
| 2013-12-31 | 7.12% |
| 2013-09-30 | 6.44% |
| 2013-06-30 | 3.83% |
| 2013-03-31 | 7.73% |
| 2012-12-31 | 8.19% |
| 2012-09-30 | 8.03% |
| 2012-06-30 | 9.25% |
| 2012-03-31 | 9.54% |
| 2011-12-31 | 9.48% |
| 2011-09-30 | 6.92% |
| 2011-06-30 | 6.17% |
| 2011-03-31 | 8.55% |
| 2010-12-31 | 7.18% |
| 2010-09-30 | 6.35% |
| 2010-06-30 | 6.37% |
| 2010-03-12 | 8.60% |
| 2009-12-31 | 7.32% |
| 2009-09-30 | 7.35% |
| 2009-07-23 | 6.95% |
| 2009-03-31 | 10.50% |
| 2008-12-31 | 7.66% |
| 2008-09-30 | 4.50% |
| 2008-06-30 | 4.15% |
| 2008-03-31 | 6.80% |
| 2007-12-31 | 6.42% |
| 2007-09-30 | 3.66% |
| 2007-06-30 | 4.74% |
| 2007-03-31 | 8.58% |
| 2006-12-31 | 6.60% |
| 2006-09-30 | 4.53% |
| 2006-06-30 | 6.35% |
| 2006-03-31 | 7.95% |
| 2005-12-31 | 3.69% |
| 2005-09-30 | 3.86% |
| 2005-06-30 | 3.24% |
| 2005-03-31 | 7.25% |
| 2004-12-31 | 7.00% |
| 2004-09-30 | 3.45% |
| 2004-06-30 | 8.48% |
| 2004-03-31 | 18.93% |
| 2003-12-31 | 14.11% |
| 2003-09-30 | 5.60% |
| 2003-06-30 | 13.29% |
| 2003-03-31 | 21.42% |
| 2002-12-31 | 13.49% |
| 2002-09-30 | 14.88% |
| 2002-06-30 | 7.20% |
