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 19.91% is in line with its 5-year average of 22.10%, near the high end of its 5-year range (-18.71%–33.55%).
As of the fiscal period ended Tuesday, March 31, 2026. 5.91% below its 12-month average of 21.16%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
19.91%
OPERATING MARGIN AVG TTM
21.16%
OPERATING MARGIN AVG 3Y
22.95%
OPERATING MARGIN AVG 5Y
22.10%
OPERATING MARGIN AVG 10Y
N/A
OPERATING MARGIN AVG 15Y
N/A
OPERATING MARGIN AVG 20Y
N/A
CURRENT VS TTM AVG
-5.91%
CURRENT VS 3Y AVG
-13.27%
CURRENT VS 5Y AVG
-9.92%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · CONSUMER CYCLICAL
10.96%
median of 88 covered companies
CURRENT VS SECTOR MEDIAN
+81.53%
vs the sector median at left
PDD Holdings Inc.
Market Cap
$132.31B
Operating Margin
19.91%
TTM Avg
21.16%
3Y Avg
22.95%
5Y Avg
22.10%
Market Cap
$122.17B
Operating Margin
11.55%
TTM Avg
11.93%
3Y Avg
12.56%
5Y Avg
12.52%
Market Cap
$119.91B
Operating Margin
9.43%
TTM Avg
12.29%
3Y Avg
13.81%
5Y Avg
13.10%
Market Cap
$106.33B
Operating Margin
3.87%
TTM Avg
4.67%
3Y Avg
5.19%
5Y Avg
4.57%
Market Cap
$163.24B
Operating Margin
34.49%
TTM Avg
33.16%
3Y Avg
30.87%
5Y Avg
22.83%
Market Cap
$92.24B
Operating Margin
8.26%
TTM Avg
11.87%
3Y Avg
12.07%
5Y Avg
9.62%
Market Cap
$90.08B
Operating Margin
15.80%
TTM Avg
15.41%
3Y Avg
15.95%
5Y Avg
12.87%
Market Cap
$176.73B
Operating Margin
12.39%
TTM Avg
11.54%
3Y Avg
10.87%
5Y Avg
9.18%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| PDD Holdings Inc. (PDD) | $132.31B | 19.91% | 21.16% | 22.95% | 22.10% |
| Lowe's Companies, Inc. (LOW)vs › | $122.17B | 11.55% | 11.93% | 12.56% | 12.52% |
| Starbucks Corporation (SBUX)vs › | $119.91B | 9.43% | 12.29% | 13.81% | 13.10% |
| Airbnb, Inc. (ABNB)vs › | $109.38B | 20.81% | 21.89% | 20.13% | -3.09% |
| BYD Company Limited (BYDDY)vs › | $106.33B | 3.87% | 4.67% | 5.19% | 4.57% |
| Booking Holdings Inc. (BKNG)vs › | $163.24B | 34.49% | 33.16% | 30.87% | 22.83% |
| MercadoLibre, Inc. (MELI)vs › | $92.24B | 8.26% | 11.87% | 12.07% | 9.62% |
| Marriott International, Inc. (MAR)vs › | $90.08B | 15.80% | 15.41% | 15.95% | 12.87% |
| The TJX Companies, Inc. (TJX)vs › | $176.73B | 12.39% | 11.54% | 10.87% | 9.18% |
| Royal Caribbean Cruises Ltd. (RCL)vs › | $82.75B | 27.32% | 26.14% | 16.08% | -66.10% |
Gross Margin
56.0%
Operating Margin
19.9%
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 | 19.91% |
| 2025-12-31 | 21.14% |
| 2025-09-30 | 23.11% |
| 2025-06-30 | 24.80% |
| 2025-03-31 | 16.81% |
| 2024-12-31 | 23.14% |
| 2024-09-30 | 24.45% |
| 2024-06-30 | 33.55% |
| 2024-03-31 | 29.92% |
| 2023-12-31 | 25.20% |
| 2023-09-30 | 24.20% |
| 2023-06-30 | 24.33% |
| 2023-03-31 | 18.41% |
| 2022-12-31 | 22.89% |
| 2022-09-30 | 29.40% |
| 2022-06-30 | 27.66% |
| 2022-03-31 | 9.05% |
| 2021-12-31 | 25.36% |
| 2021-09-30 | 9.95% |
| 2021-06-30 | 8.67% |
| 2021-03-31 | -18.71% |
| 2020-12-31 | -7.71% |
| 2020-09-30 | -9.12% |
| 2020-06-30 | -13.45% |
| 2020-03-31 | -67.23% |
| 2019-12-31 | -19.78% |
| 2019-09-30 | -37.16% |
| 2019-06-30 | -20.44% |
| 2019-03-31 | -46.65% |
| 2018-12-31 | -46.71% |
| 2018-09-30 | -37.64% |
| 2018-06-30 | -244.97% |
| 2018-03-31 | -18.07% |
| 2017-12-31 | -1.93% |
| 2017-09-30 | -55.40% |
| 2017-06-30 | -117.32% |
| 2017-03-31 | -583.24% |
