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 16.03% is 32% above its 5-year average of 12.17%, near the high end of its 5-year range (0.90%–17.87%).
As of the fiscal period ended Tuesday, June 30, 2026. 42.19% above its 12-month average of 11.28%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
16.03%
OPERATING MARGIN AVG TTM
11.28%
OPERATING MARGIN AVG 3Y
10.89%
OPERATING MARGIN AVG 5Y
12.17%
OPERATING MARGIN AVG 10Y
8.88%
OPERATING MARGIN AVG 15Y
7.80%
OPERATING MARGIN AVG 20Y
8.35%
CURRENT VS TTM AVG
+42.19%
CURRENT VS 3Y AVG
+47.24%
CURRENT VS 5Y AVG
+31.72%
CURRENT VS 10Y AVG
+80.59%
CURRENT VS 15Y AVG
+105.64%
CURRENT VS 20Y AVG
+91.98%
SECTOR MEDIAN · ENERGY
16.66%
median of 42 covered companies
CURRENT VS SECTOR MEDIAN
-3.77%
vs the sector median at left
Market Cap
$154.46B
Operating Margin
22.68%
TTM Avg
21.49%
3Y Avg
25.61%
5Y Avg
19.93%
Market Cap
$398.34B
Operating Margin
15.83%
TTM Avg
12.04%
3Y Avg
14.55%
5Y Avg
10.20%
Market Cap
$103.76B
Operating Margin
7.95%
TTM Avg
4.06%
3Y Avg
6.83%
5Y Avg
2.22%
Market Cap
$100.05B
Operating Margin
18.62%
TTM Avg
32.87%
3Y Avg
30.29%
5Y Avg
25.02%
Market Cap
$98.38B
Operating Margin
7.53%
TTM Avg
3.20%
3Y Avg
5.87%
5Y Avg
3.82%
Market Cap
$91.98B
Operating Margin
40.31%
TTM Avg
34.31%
3Y Avg
33.92%
5Y Avg
31.49%
Market Cap
$84.16B
Operating Margin
12.97%
TTM Avg
13.09%
3Y Avg
13.00%
5Y Avg
14.24%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Shell plc (SHEL) | $252.24B | 16.03% | 11.28% | 10.89% | 12.17% |
| ConocoPhillips (COP)vs › | $154.46B | 22.68% | 21.49% | 25.61% | 19.93% |
| Chevron Corporation (CVX)vs › | $398.34B | 15.83% | 12.04% | 14.55% | 10.20% |
| Marathon Petroleum Corporation (MPC)vs › | $103.76B | 7.95% | 4.06% | 6.83% | 2.22% |
| Canadian Natural Resources Limited (CNQ)vs › | $100.05B | 18.62% | 32.87% | 30.29% | 25.02% |
| Valero Energy Corporation (VLO)vs › | $98.38B | 7.53% | 3.20% | 5.87% | 3.82% |
| Phillips 66 (PSX)vs › | $93.66B | 6.67% | 2.14% | 3.95% | 2.34% |
| The Williams Companies, Inc. (WMB)vs › | $91.98B | 40.31% | 34.31% | 33.92% | 31.49% |
| Enterprise Products Partners L.P. (EPD)vs › | $84.16B | 12.97% | 13.09% | 13.00% | 14.24% |
| Eni S.p.A. (E)vs › | $80.09B | 4.94% | 8.46% | 10.75% | 10.27% |
Gross Margin
17.1%
Operating Margin
16.0%
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 | 16.03% |
| 2026-03-31 | 14.87% |
| 2025-12-31 | 4.93% |
| 2025-09-30 | 11.35% |
| 2025-06-30 | 9.19% |
| 2025-03-31 | 13.68% |
| 2024-12-31 | 3.64% |
| 2024-09-30 | 10.42% |
| 2024-06-30 | 10.80% |
| 2024-03-31 | 14.09% |
| 2023-12-31 | 8.43% |
| 2023-09-30 | 14.35% |
| 2023-06-30 | 9.76% |
| 2023-03-31 | 16.15% |
| 2022-12-31 | 17.37% |
| 2022-09-30 | 10.04% |
| 2022-06-30 | 17.87% |
| 2022-03-31 | 15.95% |
| 2021-12-31 | 14.41% |
| 2021-09-30 | 0.90% |
| 2021-06-30 | 10.09% |
| 2021-03-31 | 10.20% |
| 2020-12-31 | 12.54% |
| 2020-09-30 | 1.68% |
| 2020-06-30 | -70.22% |
| 2020-03-31 | 1.35% |
| 2019-12-31 | 3.39% |
| 2019-09-30 | 7.60% |
| 2019-06-30 | 5.38% |
| 2019-03-31 | 10.32% |
| 2018-12-31 | 6.34% |
| 2018-09-30 | 9.24% |
| 2018-06-30 | 8.30% |
| 2018-03-31 | 8.32% |
| 2017-12-31 | 5.66% |
| 2017-09-30 | 6.29% |
| 2017-06-30 | 4.03% |
| 2017-03-31 | 4.13% |
| 2016-12-31 | 3.42% |
| 2016-09-30 | 2.79% |
| 2016-06-30 | -0.21% |
| 2016-03-31 | -2.99% |
| 2015-12-31 | -3.01% |
| 2015-09-30 | -13.21% |
| 2015-06-30 | 6.20% |
| 2015-03-31 | 4.68% |
| 2014-12-31 | 1.26% |
| 2014-09-30 | 6.08% |
| 2014-06-30 | 5.01% |
| 2014-03-31 | 6.00% |
| 2013-12-31 | 3.84% |
| 2013-09-30 | 6.53% |
| 2013-06-30 | 3.61% |
| 2013-03-31 | 9.75% |
| 2012-12-31 | 7.00% |
| 2012-09-30 | 8.73% |
| 2012-06-30 | 6.47% |
| 2012-03-31 | 10.09% |
| 2011-12-31 | 7.39% |
| 2011-09-30 | 8.37% |
| 2011-06-30 | 9.86% |
| 2011-03-31 | 10.82% |
| 2010-12-31 | 11.98% |
| 2010-09-30 | 4.05% |
| 2010-06-30 | 9.71% |
| 2010-03-31 | 11.30% |
| 2009-12-31 | 9.15% |
| 2009-09-30 | 5.92% |
| 2009-06-30 | 9.07% |
| 2009-03-31 | 9.95% |
| 2008-12-31 | 6.54% |
| 2008-09-30 | 6.72% |
| 2008-06-30 | 13.17% |
| 2008-03-31 | 11.57% |
| 2007-12-31 | 11.61% |
| 2007-09-30 | 10.52% |
| 2007-06-30 | 12.34% |
| 2007-03-31 | 11.43% |
| 2006-12-31 | 10.14% |
| 2006-09-30 | 10.99% |
| 2006-06-30 | 12.76% |
| 2006-03-31 | 13.38% |
| 2005-12-31 | 10.52% |
| 2005-09-30 | 13.85% |
| 2005-06-30 | 10.91% |
| 2005-03-31 | 13.58% |
| 2004-12-31 | 12.22% |
| 2004-09-30 | 7.97% |
| 2004-06-30 | 0.00% |
