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 19.38% is in line with its 5-year average of 19.15%, around the middle of its 5-year range (-8.50%–35.82%).
As of the fiscal period ended Tuesday, June 30, 2026. 34.04% above its 12-month average of 14.46%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
19.38%
OPERATING MARGIN AVG TTM
14.46%
OPERATING MARGIN AVG 3Y
17.27%
OPERATING MARGIN AVG 5Y
19.15%
OPERATING MARGIN AVG 10Y
19.01%
OPERATING MARGIN AVG 15Y
17.77%
OPERATING MARGIN AVG 20Y
18.10%
CURRENT VS TTM AVG
+34.04%
CURRENT VS 3Y AVG
+12.22%
CURRENT VS 5Y AVG
+1.22%
CURRENT VS 10Y AVG
+1.96%
CURRENT VS 15Y AVG
+9.09%
CURRENT VS 20Y AVG
+7.08%
SECTOR MEDIAN · HEALTHCARE
15.27%
median of 88 covered companies
CURRENT VS SECTOR MEDIAN
+26.93%
vs the sector median at left
Market Cap
$105.05B
Operating Margin
1.62%
TTM Avg
1.41%
3Y Avg
1.42%
5Y Avg
1.37%
Market Cap
$90.68B
Operating Margin
15.48%
TTM Avg
15.38%
3Y Avg
15.15%
5Y Avg
15.20%
Market Cap
$125.80B
Operating Margin
22.03%
TTM Avg
20.93%
3Y Avg
20.75%
5Y Avg
21.02%
Market Cap
$86.31B
Operating Margin
3.51%
TTM Avg
4.55%
3Y Avg
4.90%
5Y Avg
5.40%
Market Cap
$131.37B
Operating Margin
31.28%
TTM Avg
28.70%
3Y Avg
26.89%
5Y Avg
27.25%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Sanofi (SNY) | $107.65B | 19.38% | 14.46% | 17.27% | 19.15% |
| McKesson Corporation (MCK)vs › | $105.05B | 1.62% | 1.41% | 1.42% | 1.37% |
| GSK plc (GSK)vs › | $100.82B | 20.72% | 19.17% | 20.63% | 20.79% |
| Medtronic plc (MDT)vs › | $116.98B | 17.78% | 17.77% | 17.25% | 17.00% |
| CVS Health Corp. (CVS)vs › | $119.21B | 2.00% | 2.43% | 2.79% | 3.48% |
| HCA Healthcare, Inc. (HCA)vs › | $90.68B | 15.48% | 15.38% | 15.15% | 15.20% |
| Stryker Corporation (SYK)vs › | $125.80B | 22.03% | 20.93% | 20.75% | 21.02% |
| Elevance Health Inc. (ELV)vs › | $86.31B | 3.51% | 4.55% | 4.90% | 5.40% |
| Intuitive Surgical, Inc. (ISRG)vs › | $131.37B | 31.28% | 28.70% | 26.89% | 27.25% |
| Regeneron Pharmaceuticals, Inc. (REGN)vs › | $81.89B | 25.56% | 26.52% | 32.61% | 38.03% |
Gross Margin
73.0%
Operating Margin
19.4%
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 | 19.38% |
| 2026-03-31 | 20.18% |
| 2025-12-31 | -8.50% |
| 2025-09-30 | 27.51% |
| 2025-06-30 | 13.73% |
| 2025-03-31 | 21.05% |
| 2024-12-31 | 7.51% |
| 2024-09-30 | 25.68% |
| 2024-06-30 | 14.02% |
| 2024-03-31 | 12.71% |
| 2023-12-31 | 2.80% |
| 2023-09-30 | 25.29% |
| 2023-06-30 | 17.40% |
| 2023-03-31 | 22.67% |
| 2022-12-31 | 35.82% |
| 2022-09-30 | 20.73% |
| 2022-06-30 | 13.33% |
| 2022-03-31 | 23.84% |
| 2021-12-31 | 14.12% |
| 2021-09-30 | 28.00% |
| 2021-06-30 | 17.19% |
| 2021-03-31 | 23.16% |
| 2020-12-31 | 15.21% |
| 2020-09-30 | 25.55% |
| 2020-06-30 | 95.54% |
| 2020-03-31 | 21.96% |
| 2019-12-31 | -1.19% |
| 2019-09-30 | 21.49% |
| 2019-06-30 | -3.31% |
| 2019-03-31 | 16.17% |
| 2018-12-31 | -2.14% |
| 2018-09-30 | 27.85% |
| 2018-06-30 | 11.33% |
| 2018-03-31 | 14.78% |
| 2017-12-31 | 8.34% |
| 2017-09-30 | 21.06% |
| 2017-06-30 | 15.39% |
| 2017-03-31 | 19.12% |
| 2016-12-31 | 16.92% |
| 2016-09-30 | 25.72% |
| 2016-06-30 | 17.28% |
| 2016-03-31 | 14.56% |
| 2015-12-31 | 3.97% |
| 2015-09-30 | 20.20% |
| 2015-06-30 | 22.12% |
| 2015-03-31 | 15.82% |
| 2014-12-31 | 18.38% |
| 2014-09-30 | 20.12% |
| 2014-06-30 | 15.30% |
| 2014-03-31 | 18.02% |
| 2013-12-31 | 15.54% |
| 2013-09-30 | 19.08% |
| 2013-06-30 | 8.46% |
| 2013-03-31 | 17.91% |
| 2012-12-31 | 4.62% |
| 2012-09-30 | 23.47% |
| 2012-06-30 | 17.67% |
| 2012-03-31 | 24.95% |
| 2011-12-31 | 10.57% |
| 2011-09-30 | 25.45% |
| 2011-06-30 | 12.50% |
| 2011-03-31 | 16.58% |
| 2010-12-31 | 3.06% |
| 2010-09-30 | 20.75% |
| 2010-06-30 | 24.66% |
| 2010-03-31 | 25.57% |
| 2009-12-31 | 0.10% |
| 2009-09-30 | 27.55% |
| 2009-06-30 | 16.11% |
| 2009-03-31 | 27.19% |
| 2008-12-31 | -38.13% |
| 2008-09-30 | 36.13% |
| 2008-06-30 | 20.89% |
| 2008-03-31 | 100.00% |
| 2007-12-31 | -184.14% |
| 2007-09-30 | 100.00% |
| 2007-06-30 | 22.38% |
| 2007-03-31 | 100.00% |
| 2006-12-31 | -217.96% |
| 2006-09-30 | 100.00% |
| 2006-06-30 | 14.27% |
| 2006-03-31 | 19.75% |
| 2005-12-31 | 12.97% |
| 2005-09-30 | 21.16% |
| 2005-06-30 | 16.19% |
| 2005-03-31 | 1.16% |
| 2004-12-31 | -187.95% |
| 2004-09-30 | 100.00% |
| 2004-06-30 | 32.46% |
| 2004-03-31 | 100.00% |
| 2003-12-31 | -180.20% |
| 2003-09-30 | 100.00% |
| 2003-06-30 | 35.65% |
| 2003-03-31 | 100.00% |
| 2002-12-31 | -156.33% |
| 2002-09-30 | 100.00% |
