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 46.27% is 15% above its 5-year average of 40.36%, around the middle of its 5-year range (24.38%–79.20%).
2.38% above its 12-month average of 45.20%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
46.27%
OPERATING MARGIN AVG TTM
45.20%
OPERATING MARGIN AVG 3Y
39.79%
OPERATING MARGIN AVG 5Y
40.36%
OPERATING MARGIN AVG 10Y
43.64%
OPERATING MARGIN AVG 15Y
39.00%
OPERATING MARGIN AVG 20Y
34.15%
CURRENT VS TTM AVG
+2.38%
CURRENT VS 3Y AVG
+16.27%
CURRENT VS 5Y AVG
+14.64%
CURRENT VS 10Y AVG
+6.03%
CURRENT VS 15Y AVG
+18.65%
CURRENT VS 20Y AVG
+35.49%
SECTOR MEDIAN · FINANCIAL SERVICES
23.41%
median of 102 covered companies
CURRENT VS SECTOR MEDIAN
+97.65%
vs the sector median at left
S&P Global Inc.
Market Cap
$126.98B
Operating Margin
46.27%
TTM Avg
45.20%
3Y Avg
39.79%
5Y Avg
40.36%
Market Cap
$125.48B
Operating Margin
16.23%
TTM Avg
15.23%
3Y Avg
10.05%
5Y Avg
10.98%
Market Cap
$130.18B
Operating Margin
N/A
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
Market Cap
$131.81B
Operating Margin
3.29%
TTM Avg
7.13%
3Y Avg
12.64%
5Y Avg
18.34%
Market Cap
$112.45B
Operating Margin
17.45%
TTM Avg
16.12%
3Y Avg
15.62%
5Y Avg
19.79%
Market Cap
$107.35B
Operating Margin
46.81%
TTM Avg
41.27%
3Y Avg
-4.33%
5Y Avg
-17.73%
Market Cap
$100.29B
Operating Margin
65.10%
TTM Avg
64.50%
3Y Avg
62.66%
5Y Avg
60.18%
Market Cap
$98.55B
Operating Margin
N/A
TTM Avg
N/A
3Y Avg
N/A
5Y Avg
N/A
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| S&P Global Inc. (SPGI) | $126.98B | 46.27% | 45.20% | 39.79% | 40.36% |
| The Progressive Corporation (PGR)vs › | $125.48B | 16.23% | 15.23% | 10.05% | 10.98% |
| Vanguard Dividend Appreciation ETF (VIG)vs › | $130.18B | N/A | N/A | N/A | N/A |
| Chubb Limited (CB)vs › | $130.57B | 18.19% | 21.11% | 19.08% | 18.64% |
| Capital One Financial Corporation (COF)vs › | $131.81B | 3.29% | 7.13% | 12.64% | 18.34% |
| Bank of New York Mellon Corp (BNY)vs › | $112.45B | 17.45% | 16.12% | 15.62% | 19.79% |
| Robinhood Markets, Inc. (HOOD)vs › | $107.35B | 46.81% | 41.27% | -4.33% | -17.73% |
| CME Group Inc. (CME)vs › | $100.29B | 65.10% | 64.50% | 62.66% | 60.18% |
| Schwab U.S. Dividend Equity ETF (SCHD)vs › | $98.55B | N/A | N/A | N/A | N/A |
| Invesco S&P 500 Equal Weight ETF (RSP)vs › | $97.83B | N/A | N/A | N/A | N/A |
Gross Margin
70.9%
Operating Margin
46.3%
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 | 50.84% |
| 2026-03-31 | 48.00% |
| 2025-12-31 | 42.75% |
| 2025-09-30 | 43.08% |
| 2025-06-30 | 41.30% |
| 2025-03-31 | 41.78% |
| 2024-12-31 | 36.44% |
| 2024-09-30 | 40.11% |
| 2024-06-30 | 40.91% |
| 2024-03-31 | 39.67% |
| 2023-12-31 | 28.24% |
| 2023-09-30 | 34.82% |
| 2023-06-30 | 29.38% |
| 2023-03-31 | 36.20% |
| 2022-12-31 | 24.38% |
| 2022-09-30 | 29.81% |
| 2022-06-30 | 49.52% |
| 2022-03-31 | 79.20% |
| 2021-12-31 | 43.30% |
| 2021-09-30 | 51.89% |
| 2021-06-30 | 54.80% |
| 2021-03-31 | 53.62% |
| 2020-12-31 | 35.19% |
| 2020-09-30 | 51.14% |
| 2020-06-30 | 56.87% |
| 2020-03-31 | 51.06% |
| 2019-12-31 | 47.15% |
| 2019-09-30 | 52.75% |
| 2019-06-30 | 47.71% |
| 2019-03-31 | 44.88% |
| 2018-12-31 | 45.83% |
| 2018-09-30 | 45.54% |
| 2018-06-30 | 41.77% |
| 2018-03-31 | 45.37% |
| 2017-12-31 | 39.52% |
| 2017-09-30 | 42.89% |
| 2017-06-30 | 44.27% |
| 2017-03-31 | 43.98% |
| 2016-12-31 | 61.26% |
| 2016-09-30 | 93.68% |
| 2016-06-30 | 43.93% |
| 2016-03-31 | 38.18% |
| 2015-12-31 | 30.86% |
| 2015-09-30 | 30.97% |
| 2015-06-30 | 43.37% |
| 2015-03-31 | 39.36% |
| 2014-12-31 | -88.99% |
| 2014-09-30 | 28.98% |
| 2014-06-30 | 35.36% |
| 2014-03-31 | 33.98% |
| 2013-12-31 | 22.72% |
| 2013-09-30 | 33.08% |
| 2013-06-30 | 34.88% |
| 2013-03-31 | 23.54% |
| 2012-12-31 | 7.91% |
| 2012-09-30 | 14.08% |
| 2012-06-30 | 19.91% |
| 2012-03-31 | 21.19% |
| 2011-12-31 | 15.92% |
| 2011-09-30 | 31.81% |
| 2011-06-30 | 22.65% |
| 2011-03-31 | 16.85% |
| 2010-12-31 | 18.60% |
| 2010-09-30 | 31.82% |
| 2010-06-30 | 22.14% |
| 2010-03-31 | 15.99% |
| 2009-12-31 | 19.08% |
| 2009-09-30 | 29.64% |
| 2009-06-30 | 20.22% |
| 2009-03-31 | 10.83% |
| 2008-12-31 | 14.19% |
| 2008-09-30 | 31.55% |
| 2008-06-30 | 21.52% |
| 2008-03-31 | 12.40% |
| 2007-12-31 | 15.09% |
| 2007-09-30 | 33.76% |
| 2007-06-30 | 26.51% |
| 2007-03-31 | 17.91% |
| 2006-12-31 | 20.46% |
| 2006-09-30 | 30.93% |
| 2006-06-30 | 23.59% |
| 2006-03-31 | 10.14% |
| 2005-12-31 | 20.47% |
| 2005-09-30 | 30.85% |
| 2005-06-30 | 21.56% |
| 2005-03-31 | 12.21% |
| 2004-12-31 | 21.35% |
| 2004-09-30 | 30.48% |
| 2004-06-30 | 21.54% |
| 2004-03-31 | 9.99% |
| 2003-12-31 | 32.79% |
| 2003-09-30 | 28.43% |
| 2003-06-30 | 19.16% |
| 2003-03-31 | 7.79% |
| 2002-12-31 | 18.66% |
| 2002-09-30 | 27.27% |