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 37.00% is in line with its 5-year average of 36.77%, around the middle of its 5-year range (30.30%–40.20%).
1.65% below its 12-month average of 37.62%.
Reported quarterly operating margin; no daily interpolation. Q2 FY2026 (2026-06-30): 37.97%.
OPERATING MARGIN
37.00%
OPERATING MARGIN AVG TTM
37.62%
OPERATING MARGIN AVG 3Y
37.73%
OPERATING MARGIN AVG 5Y
36.77%
OPERATING MARGIN AVG 10Y
34.57%
OPERATING MARGIN AVG 15Y
29.73%
OPERATING MARGIN AVG 20Y
N/A
CURRENT VS TTM AVG
-1.65%
CURRENT VS 3Y AVG
-1.94%
CURRENT VS 5Y AVG
+0.64%
CURRENT VS 10Y AVG
+7.04%
CURRENT VS 15Y AVG
+24.47%
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · HEALTHCARE
14.90%
median of 90 covered companies
CURRENT VS SECTOR MEDIAN
+148.32%
vs the sector median at left
Market Cap
$31.17B
Operating Margin
28.22%
TTM Avg
28.07%
3Y Avg
28.30%
5Y Avg
28.33%
Market Cap
$28.94B
Operating Margin
12.70%
TTM Avg
13.37%
3Y Avg
13.23%
5Y Avg
14.11%
Market Cap
$32.58B
Operating Margin
20.81%
TTM Avg
2.82%
3Y Avg
-21.37%
5Y Avg
-56.25%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Zoetis Inc. (ZTS) | $30.66B | 37.00% | 37.62% | 37.73% | 36.77% |
| Waters Corporation (WAT)vs › | $31.17B | 28.22% | 28.07% | 28.30% | 28.33% |
| Biogen Inc. (BIIB)vs › | $31.71B | 12.79% | 22.44% | 23.65% | 25.70% |
| DexCom, Inc. (DXCM)vs › | $32.06B | 22.92% | 17.22% | 16.09% | 15.13% |
| GE HealthCare Technologies Inc. (GEHC)vs › | $28.94B | 12.70% | 13.37% | 13.23% | 14.11% |
| Alnylam Pharmaceuticals, Inc. (ALNY)vs › | $32.58B | 20.81% | 2.82% | -21.37% | -56.25% |
| Alcon Inc. (ALC)vs › | $32.88B | 9.87% | 13.67% | 11.51% | 7.66% |
| ResMed Inc. (RMD)vs › | $33.23B | 33.48% | 33.11% | 30.30% | 29.57% |
| Centene Corp. (CNC)vs › | $33.45B | -2.82% | -0.98% | 0.21% | 0.84% |
| Medline Inc. (MDLN)vs › | $27.40B | 6.07% | 8.25% | 6.70% | 6.70% |
Gross Margin
70.9%
Operating Margin
37.0%
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 | 37.97% |
| 2026-03-31 | 36.34% |
| 2025-12-31 | 34.60% |
| 2025-09-30 | 39.00% |
| 2025-06-30 | 40.20% |
| 2025-03-31 | 38.11% |
| 2024-12-31 | 33.02% |
| 2024-09-30 | 38.53% |
| 2024-06-30 | 38.37% |
| 2024-03-31 | 36.58% |
| 2023-12-31 | 32.04% |
| 2023-09-30 | 37.10% |
| 2023-06-30 | 38.26% |
| 2023-03-31 | 36.40% |
| 2022-12-31 | 33.82% |
| 2022-09-30 | 36.11% |
| 2022-06-30 | 35.38% |
| 2022-03-31 | 39.73% |
| 2021-12-31 | 30.30% |
| 2021-09-30 | 36.58% |
| 2021-06-30 | 37.17% |
| 2021-03-31 | 40.35% |
| 2020-12-31 | 28.39% |
| 2020-09-30 | 37.18% |
| 2020-06-30 | 35.72% |
| 2020-03-31 | 35.14% |
| 2019-12-31 | 29.87% |
| 2019-09-30 | 35.61% |
| 2019-06-30 | 34.00% |
| 2019-03-31 | 29.42% |
| 2018-12-31 | 27.88% |
| 2018-09-30 | 35.74% |
| 2018-06-30 | 34.20% |
| 2018-03-31 | 33.75% |
| 2017-12-31 | 34.86% |
| 2017-10-01 | 34.52% |
| 2017-07-02 | 30.18% |
| 2017-04-02 | 29.89% |
| 2016-12-31 | 25.14% |
| 2016-10-02 | 30.38% |
| 2016-07-03 | 29.47% |
| 2016-04-03 | 29.86% |
| 2015-12-31 | 17.90% |
| 2015-09-27 | 25.78% |
| 2015-06-28 | 22.98% |
| 2015-03-29 | 23.50% |
| 2014-12-31 | 14.70% |
| 2014-09-28 | 22.56% |
| 2014-06-29 | 20.90% |
| 2014-03-30 | 23.70% |
| 2013-12-31 | 15.47% |
| 2013-09-29 | 19.13% |
| 2013-06-30 | 16.97% |
| 2013-03-31 | 20.73% |
| 2012-12-31 | 13.01% |
| 2012-09-30 | 21.10% |
| 2012-06-30 | 24.13% |
| 2012-03-31 | 18.91% |
| 2011-12-31 | 12.78% |
| 2011-09-30 | 19.16% |
| 2011-06-30 | 12.76% |
| 2011-03-31 | 15.26% |
