Top 100 Stocks by Operating Margin
Top companies ranked by operating margin, latest annual filings.
What Operating Margin Means for US-listed Companies
Operating margin is operating income divided by revenue, so it captures what is left of each sales dollar after both the direct costs of making the product and the indirect costs of running the business, including sales, research, overhead, and depreciation, have been absorbed. It sits below gross margin and above net margin on the income statement, reading the pure operating engine of the firm without interference from capital structure or tax jurisdiction.
Why Operating Margin Alone Can Mislead
Operating margin is powerful because it isolates how efficiently a business converts revenue into profit from operations, before financing choices skew the picture. That said, it is highly sector-dependent, which makes cross-industry comparisons misleading without context. It also embeds depreciation, a non-cash charge tied to past capex, so capital-heavy firms can look weaker than their cash economics suggest. Accounting choices about what to capitalize and one-time restructuring charges further distort single-year snapshots.
What to Read Alongside
Pair operating margin with Gross Margin to see where the profit is being earned or lost in the cost stack, Net Margin for the after-tax bottom-line read, and EBITDA to strip out the depreciation effect.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | APP | AppLovin Corporation | Communication Services | 75.75% | $110.01B |
| 2 | VRSN | VeriSign, Inc. | Technology | 67.67% | $27.07B |
| 3 | RPRX | Royalty Pharma plc | Healthcare | 65.58% | $26.06B |
| 4 | CME | CME Group Inc. | Financial Services | 64.86% | $96.08B |
| 5 | HESM | Hess Midstream LP | Energy | 62.18% | $5.03B |
| 6 | RGLD | Royal Gold, Inc. | Basic Materials | 61.93% | $21.88B |
| 7 | FUTU | Futu Holdings Limited | Financial Services | 61.63% | $16.03B |
| 8 | SNDK | Sandisk Corporation | Technology | 61.19% | $276.30B |
| 9 | NVDA | NVIDIA Corporation | Technology | 60.38% | $5526.52B |
| 10 | V | Visa Inc. | Financial Services | 59.99% | $679.68B |
| 11 | MA | Mastercard Incorporated | Financial Services | 57.63% | $486.97B |
| 12 | MSCI | MSCI Inc. | Financial Services | 54.67% | $39.90B |
| 13 | AM | Antero Midstream Corporation | Energy | 54.25% | $10.03B |
| 14 | SCCO | Southern Copper Corporation | Basic Materials | 52.17% | $174.05B |
| 15 | WBS | Webster Financial Corp | Financial Services | 50.71% | $12.57B |
| 16 | PTCT | PTC Therapeutics, Inc. | Healthcare | 50.09% | $5.51B |
| 17 | DTM | DT Midstream, Inc. | Energy | 49.40% | $12.75B |
| 18 | DAC | Danaos Corporation | Industrials | 47.85% | $2.84B |
| 19 | TDG | TransDigm Group Incorporated | Industrials | 47.16% | $61.49B |
| 20 | UTHR | United Therapeutics Corporation | Healthcare | 46.89% | $21.34B |
| 21 | MSFT | Microsoft Corporation | Technology | 46.78% | $3697.92B |
| 22 | FICO | Fair Isaac Corporation | Technology | 46.45% | $19.75B |
| 23 | MCD | McDonald's Corporation | Consumer Cyclical | 46.10% | $177.16B |
| 24 | MPLX | MPLX LP | Energy | 45.72% | $59.98B |
| 25 | LNG | Cheniere Energy, Inc. | Energy | 45.61% | $56.38B |
| 26 | CPAY | Corpay, Inc. | Technology | 44.04% | $25.80B |
| 27 | VRSK | Verisk Analytics, Inc. | Industrials | 43.74% | $22.38B |
| 28 | MCO | Moody's Corporation | Financial Services | 43.42% | $81.27B |
| 29 | ANET | Arista Networks, Inc. | Technology | 42.82% | $258.79B |
| 30 | MO | Altria Group, Inc. | Consumer Defensive | 42.52% | $114.61B |
| 31 | GEN | Gen Digital Inc. | Technology | 42.40% | $16.34B |
| 32 | SPGI | S&P Global Inc. | Financial Services | 42.24% | $118.64B |
| 33 | GPOR | Gulfport Energy Corporation | Energy | 42.21% | $2.80B |
| 34 | WES | Western Midstream Partners, LP | Energy | 41.67% | $19.03B |
| 35 | META | Meta Platforms, Inc. | Communication Services | 41.44% | $1876.48B |
| 36 | TW | Tradeweb Markets Inc. | Financial Services | 40.70% | $21.04B |
| 37 | NVAX | Novavax, Inc. | Healthcare | 40.30% | $1.79B |
| 38 | UNP | Union Pacific Corporation | Industrials | 40.17% | $163.02B |
| 39 | AVGO | Broadcom Inc. | Technology | 39.89% | $1740.18B |
| 40 | ICE | Intercontinental Exchange, Inc. | Financial Services | 39.00% | $85.85B |
| 41 | PAYX | Paychex, Inc. | Technology | 38.55% | $40.77B |
| 42 | NJR | New Jersey Resources Corporation | Utilities | 37.66% | $5.35B |
| 43 | EQT | EQT Corporation | Energy | 37.59% | $31.49B |
| 44 | EXEL | Exelixis, Inc. | Healthcare | 37.59% | $14.41B |
| 45 | VG | Venture Global, Inc. | Energy | 37.45% | $32.28B |
| 46 | EIX | Edison International | Utilities | 36.72% | $21.18B |
| 47 | AWK | American Water Works Company, Inc. | Utilities | 36.69% | $26.59B |
| 48 | WTRG | Essential Utilities, Inc. | Utilities | 36.69% | $11.46B |
| 49 | PM | Philip Morris International Inc. | Consumer Defensive | 36.64% | $296.50B |
| 50 | ADBE | Adobe Inc. | Technology | 36.63% | $94.70B |
| 51 | VCTR | Victory Capital Holdings, Inc. | Financial Services | 36.63% | $6.46B |
| 52 | CPRT | Copart, Inc. | Industrials | 36.51% | $26.66B |
| 53 | UI | Ubiquiti Inc. | Technology | 36.21% | $35.16B |
| 54 | HL | Hecla Mining Company | Basic Materials | 36.18% | $12.78B |
| 55 | NGVT | Ingevity Corporation | Basic Materials | 35.86% | $2.45B |
| 56 | PTC | PTC Inc. | Technology | 35.86% | $15.19B |
| 57 | NSC | Norfolk Southern Corporation | Industrials | 35.76% | $70.53B |
| 58 | NFG | National Fuel Gas Company | Energy | 35.72% | $7.60B |
| 59 | ECPG | Encore Capital Group, Inc. | Financial Services | 35.43% | $2.08B |
| 60 | LRCX | Lam Research Corporation | Technology | 35.29% | $389.11B |
| 61 | WMB | The Williams Companies, Inc. | Energy | 35.11% | $86.82B |
| 62 | QFIN | Qfin Holdings, Inc. | Financial Services | 34.77% | $0.96B |
| 63 | VRTX | Vertex Pharmaceuticals Incorporated | Healthcare | 34.77% | $130.53B |
| 64 | WDC | Western Digital Corporation | Technology | 34.47% | $167.51B |
| 65 | CQP | Cheniere Energy Partners, L.P. | Energy | 34.45% | $31.98B |
| 66 | CDE | Coeur Mining, Inc. | Basic Materials | 34.15% | $21.06B |
| 67 | TXN | Texas Instruments Incorporated | Technology | 34.06% | $247.86B |
| 68 | GILD | Gilead Sciences, Inc. | Healthcare | 34.04% | $189.30B |
| 69 | HALO | Halozyme Therapeutics, Inc. | Healthcare | 33.58% | $13.07B |
| 70 | STX | Seagate Technology Holdings plc | Technology | 33.57% | $209.17B |
| 71 | MGY | Magnolia Oil & Gas Corporation | Energy | 33.48% | $6.47B |
| 72 | APAM | Artisan Partners Asset Management Inc. | Financial Services | 33.39% | $2.55B |
| 73 | RMD | ResMed Inc. | Healthcare | 33.37% | $32.02B |
| 74 | CRDO | Credo Technology Group Holding Ltd | Technology | 33.33% | $36.19B |
| 75 | YMM | Full Truck Alliance Co. Ltd. | Technology | 33.20% | $8.77B |
| 76 | MTDR | Matador Resources Company | Energy | 33.18% | $6.42B |
| 77 | ATO | Atmos Energy Corporation | Utilities | 33.17% | $26.59B |
| 78 | BKNG | Booking Holdings Inc. | Consumer Cyclical | 32.79% | $123.39B |
| 79 | CF | CF Industries Holdings, Inc. | Basic Materials | 32.47% | $18.25B |
| 80 | FDS | FactSet Research Systems Inc. | Financial Services | 32.23% | $9.83B |
| 81 | NEE | NextEra Energy, Inc. | Utilities | 32.09% | $165.33B |
| 82 | CSX | CSX Corporation | Industrials | 32.08% | $86.31B |
| 83 | CTRA | Coterra Energy Inc. | Energy | 32.07% | $24.72B |
| 84 | GOOG | Alphabet Inc. | Communication Services | 32.03% | $4248.80B |
| 85 | AAPL | Apple Inc. | Technology | 31.97% | $4947.14B |
| 86 | NTES | NetEase, Inc. | Communication Services | 31.82% | $76.04B |
| 87 | SM | SM Energy Company | Energy | 31.71% | $8.07B |
| 88 | IDXX | IDEXX Laboratories, Inc. | Healthcare | 31.60% | $41.08B |
| 89 | PLTR | Palantir Technologies Inc. | Technology | 31.59% | $444.54B |
| 90 | BORR | Borr Drilling Limited | Energy | 31.55% | $1.38B |
| 91 | JHG | Janus Henderson Group PLC | Financial Services | 31.54% | $8.00B |
| 92 | YUM | Yum! Brands, Inc. | Consumer Cyclical | 31.34% | $38.13B |
| 93 | FTNT | Fortinet, Inc. | Technology | 30.66% | $127.86B |
| 94 | FSLR | First Solar, Inc. | Technology | 30.59% | $21.58B |
| 95 | ORCL | Oracle Corporation | Technology | 30.59% | $451.14B |
| 96 | CHKP | Check Point Software Technologies Ltd. | Technology | 30.49% | $14.00B |
| 97 | TRN | Trinity Industries, Inc. | Industrials | 30.10% | $2.22B |
| 98 | TROW | T. Rowe Price Group, Inc. | Financial Services | 29.92% | $22.32B |
| 99 | PLNT | Planet Fitness, Inc. | Consumer Cyclical | 29.81% | $3.22B |
| 100 | BZ | Kanzhun Limited | Communication Services | 29.80% | $6.76B |
No companies match this search.
How this ranking is built
Companies are ranked by operating margin as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Size floor: A company qualifies at $1 billion in annual revenue or above, so a small filer with a freak ratio cannot top the list.
- Value range: Only figures above 0% and up to 100% qualify.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.