Top Consumer Cyclical Stocks by Operating Margin
Top consumer cyclical companies ranked by operating margin, latest annual filings.
What Operating Margin Means for Consumer Cyclical Companies
Operating margin in consumer cyclical reveals how efficiently a retailer, restaurant, auto maker, or apparel brand converts discretionary spending into operating profit after merchandise cost, store payroll, marketing, and occupancy are paid. Premium luxury houses and asset-light franchisors typically earn some of the widest operating margins in the sector, while volume-driven big-box retailers, mass-market apparel, and auto manufacturing tend to run markedly thinner, with the rest of the sector scattered in between depending on brand power and store productivity.
Why It Matters in Consumer Cyclical
Operating margin captures whether a brand retains pricing power against rising labor, marketing, and logistics costs through the discretionary cycle. Premium positioning, exclusive distribution, and franchised models can defend margin, while promotional pressure compresses it. Still, operating margin reads poorly in isolation: a wide margin on stagnating revenue can signal a shrinking franchise harvesting price, while a thinner margin paired with strong same-store sales often describes a healthier trajectory than the headline number suggests.
What to Read Alongside
Pair operating margin with Gross Margin to isolate merchandising and pricing power before store overhead, Revenue to gauge scale and comparable sales direction, and Net Margin for the after-tax bottom line.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | MCD | McDonald's Corporation | Consumer Cyclical | 46.10% | $195.68B |
| 2 | BKNG | Booking Holdings Inc. | Consumer Cyclical | 32.79% | $119.49B |
| 3 | YUM | Yum! Brands, Inc. | Consumer Cyclical | 31.34% | $43.35B |
| 4 | PLNT | Planet Fitness, Inc. | Consumer Cyclical | 29.81% | $4.48B |
| 5 | RRR | Red Rock Resorts, Inc. | Consumer Cyclical | 29.70% | $5.03B |
| 6 | RACE | Ferrari N.V. | Consumer Cyclical | 29.52% | $72.92B |
| 7 | ALSN | Allison Transmission Holdings, Inc. | Consumer Cyclical | 29.24% | $9.60B |
| 8 | WH | Wyndham Hotels & Resorts, Inc. | Consumer Cyclical | 28.13% | $5.74B |
| 9 | CHH | Choice Hotels International, Inc. | Consumer Cyclical | 28.08% | $5.29B |
| 10 | RCL | Royal Caribbean Cruises Ltd. | Consumer Cyclical | 27.38% | $87.51B |
| 11 | HTHT | H World Group Limited | Consumer Cyclical | 26.95% | $16.10B |
| 12 | BIRK | Birkenstock Holding plc | Consumer Cyclical | 26.20% | $6.16B |
| 13 | TCOM | Trip.com Group Limited | Consumer Cyclical | 25.27% | $27.94B |
| 14 | TPR | Tapestry, Inc. | Consumer Cyclical | 23.92% | $26.10B |
| 15 | ATAT | Atour Lifestyle Holdings Limited | Consumer Cyclical | 23.56% | $4.89B |
| 16 | CHDN | Churchill Downs Incorporated | Consumer Cyclical | 23.37% | $6.71B |
| 17 | QSR | Restaurant Brands International Inc. | Consumer Cyclical | 23.34% | $27.06B |
| 18 | VIK | Viking Holdings Ltd | Consumer Cyclical | 23.10% | $39.07B |
| 19 | IHG | InterContinental Hotels Group PLC | Consumer Cyclical | 23.09% | $26.05B |
| 20 | DECK | Deckers Outdoor Corporation | Consumer Cyclical | 23.08% | $11.57B |
| 21 | VVV | Valvoline Inc. | Consumer Cyclical | 22.80% | $4.44B |
| 22 | SCI | Service Corporation International | Consumer Cyclical | 22.70% | $10.02B |
| 23 | HLT | Hilton Worldwide Holdings Inc. | Consumer Cyclical | 22.37% | $82.43B |
| 24 | PRKS | United Parks & Resorts Inc. | Consumer Cyclical | 21.98% | $1.81B |
| 25 | LVS | Las Vegas Sands Corp. | Consumer Cyclical | 21.65% | $26.38B |
| 26 | PDD | PDD Holdings Inc. | Consumer Cyclical | 21.56% | $118.18B |
| 27 | ABNB | Airbnb, Inc. | Consumer Cyclical | 20.78% | $111.63B |
| 28 | EBAY | eBay Inc. | Consumer Cyclical | 20.51% | $53.54B |
| 29 | BKE | The Buckle, Inc. | Consumer Cyclical | 20.14% | $2.16B |
| 30 | LULU | lululemon athletica inc. | Consumer Cyclical | 19.91% | $12.83B |
| 31 | ORLY | O'Reilly Automotive, Inc. | Consumer Cyclical | 19.46% | $72.33B |
| 32 | DPZ | Domino's Pizza, Inc. | Consumer Cyclical | 19.31% | $11.00B |
| 33 | ROL | Rollins, Inc. | Consumer Cyclical | 19.30% | $18.26B |
| 34 | GNTX | Gentex Corporation | Consumer Cyclical | 18.70% | $4.19B |
| 35 | ALH | Alliance Laundry Holdings Inc. | Consumer Cyclical | 18.57% | $4.49B |
| 36 | AZO | AutoZone, Inc. | Consumer Cyclical | 18.31% | $51.77B |
| 37 | BYD | Boyd Gaming Corporation | Consumer Cyclical | 18.29% | $5.41B |
| 38 | WSM | Williams-Sonoma, Inc. | Consumer Cyclical | 18.13% | $29.92B |
| 39 | GIL | Gildan Activewear Inc. | Consumer Cyclical | 17.13% | $6.44B |
| 40 | ATMU | Atmus Filtration Technologies Inc. | Consumer Cyclical | 16.95% | $4.13B |
| 41 | CCL | Carnival Corporation Ltd. | Consumer Cyclical | 16.84% | $39.77B |
| 42 | CMG | Chipotle Mexican Grill, Inc. | Consumer Cyclical | 16.23% | $43.55B |
| 43 | CZR | Caesars Entertainment, Inc. | Consumer Cyclical | 16.18% | $5.96B |
| 44 | LTH | Life Time Group Holdings, Inc. | Consumer Cyclical | 16.07% | $10.58B |
| 45 | NCLH | Norwegian Cruise Line Holdings Ltd. | Consumer Cyclical | 15.88% | $8.23B |
| 46 | MAR | Marriott International, Inc. | Consumer Cyclical | 15.81% | $107.24B |
| 47 | WEN | The Wendy's Company | Consumer Cyclical | 15.78% | $1.56B |
| 48 | TOL | Toll Brothers, Inc. | Consumer Cyclical | 15.69% | $14.06B |
| 49 | WYNN | Wynn Resorts, Limited | Consumer Cyclical | 15.67% | $8.56B |
| 50 | BBWI | Bath & Body Works, Inc. | Consumer Cyclical | 15.44% | $4.31B |
| 51 | MNSO | MINISO Group Holding Limited | Consumer Cyclical | 15.40% | $3.22B |
| 52 | MMYT | MakeMyTrip Limited | Consumer Cyclical | 14.94% | $4.81B |
| 53 | MTN | Vail Resorts, Inc. | Consumer Cyclical | 14.82% | $5.66B |
| 54 | RL | Ralph Lauren Corporation | Consumer Cyclical | 14.53% | $22.26B |
| 55 | SN | SharkNinja, Inc. | Consumer Cyclical | 14.38% | $31.42B |
| 56 | DORM | Dorman Products, Inc. | Consumer Cyclical | 14.06% | $4.03B |
| 57 | TNL | Travel + Leisure Co. | Consumer Cyclical | 13.75% | $4.54B |
| 58 | SON | Sonoco Products Company | Consumer Cyclical | 13.54% | $4.99B |
| 59 | CART | Maplebear Inc. | Consumer Cyclical | 13.31% | $13.75B |
| 60 | ANF | Abercrombie & Fitch Co. | Consumer Cyclical | 13.28% | $6.34B |
| 61 | BOOT | Boot Barn Holdings, Inc. | Consumer Cyclical | 13.27% | $3.92B |
| 62 | IBP | Installed Building Products, Inc. | Consumer Cyclical | 13.01% | $5.85B |
| 63 | EXPE | Expedia Group, Inc. | Consumer Cyclical | 12.70% | $30.74B |
| 64 | HD | The Home Depot, Inc. | Consumer Cyclical | 12.68% | $342.68B |
| 65 | CCK | Crown Holdings, Inc. | Consumer Cyclical | 12.56% | $13.11B |
| 66 | ONON | On Holding AG | Consumer Cyclical | 12.51% | $12.49B |
| 67 | DRVN | Driven Brands Holdings Inc. | Consumer Cyclical | 12.41% | $1.96B |
| 68 | ULTA | Ulta Beauty, Inc. | Consumer Cyclical | 12.37% | $27.57B |
| 69 | PKG | Packaging Corporation of America | Consumer Cyclical | 12.31% | $22.25B |
| 70 | DRI | Darden Restaurants, Inc. | Consumer Cyclical | 11.98% | $25.61B |
| 71 | ROST | Ross Stores, Inc. | Consumer Cyclical | 11.90% | $73.82B |
| 72 | TILE | Interface, Inc. | Consumer Cyclical | 11.82% | $1.78B |
| 73 | LOW | Lowe's Companies, Inc. | Consumer Cyclical | 11.77% | $125.98B |
| 74 | GOLF | Acushnet Holdings Corp. | Consumer Cyclical | 11.70% | $4.62B |
| 75 | MLCO | Melco Resorts & Entertainment Limited | Consumer Cyclical | 11.63% | $1.61B |
| 76 | MHO | M/I Homes, Inc. | Consumer Cyclical | 11.47% | $3.33B |
| 77 | YETI | YETI Holdings, Inc. | Consumer Cyclical | 11.43% | $3.28B |
| 78 | RH | RH | Consumer Cyclical | 11.26% | $2.48B |
| 79 | AMZN | Amazon.com, Inc. | Consumer Cyclical | 11.16% | $2.80T |
| 80 | MELI | MercadoLibre, Inc. | Consumer Cyclical | 11.08% | $76.55B |
| 81 | LUCK | Lucky Strike Entertainment Corporation | Consumer Cyclical | 10.98% | $518.04M |
| 82 | YUMC | Yum China Holdings, Inc. | Consumer Cyclical | 10.93% | $16.79B |
| 83 | LEVI | Levi Strauss & Co. | Consumer Cyclical | 10.79% | $8.77B |
| 84 | BFAM | Bright Horizons Family Solutions Inc. | Consumer Cyclical | 10.73% | $2.57B |
| 85 | AS | Amer Sports, Inc. | Consumer Cyclical | 10.69% | $18.31B |
| 86 | KTB | Kontoor Brands, Inc. | Consumer Cyclical | 10.68% | $4.21B |
| 87 | EAT | Brinker International, Inc. | Consumer Cyclical | 10.67% | $8.58B |
| 88 | CHA | Chagee Holdings Limited | Consumer Cyclical | 10.44% | $2.37B |
| 89 | MAT | Mattel, Inc. | Consumer Cyclical | 10.22% | $4.39B |
| 90 | CVCO | Cavco Industries, Inc. | Consumer Cyclical | 10.18% | $4.87B |
| 91 | OPLN | OPENLANE, Inc. | Consumer Cyclical | 10.16% | $4.17B |
| 92 | SGI | Somnigroup International Inc. | Consumer Cyclical | 10.10% | $14.77B |
| 93 | ALV | Autoliv, Inc. | Consumer Cyclical | 10.06% | $8.89B |
| 94 | BROS | Dutch Bros Inc. | Consumer Cyclical | 9.84% | $5.90B |
| 95 | URBN | Urban Outfitters, Inc. | Consumer Cyclical | 9.82% | $7.26B |
| 96 | FIVE | Five Below, Inc. | Consumer Cyclical | 9.60% | $13.23B |
| 97 | SKY | Champion Homes, Inc. | Consumer Cyclical | 9.45% | $4.91B |
| 98 | TSCO | Tractor Supply Company | Consumer Cyclical | 9.45% | $18.85B |
| 99 | GPK | Graphic Packaging Holding Company | Consumer Cyclical | 9.33% | $3.31B |
| 100 | CVNA | Carvana Co. | Consumer Cyclical | 9.26% | $81.12B |
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.
- Market cap: stated at each company's latest close, which is newer than the annual figure ranked here.
- 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.
Frequently asked questions
Why do luxury brands earn such wider operating margins than mass-market retailers?
Luxury positioning supports prices well above marginal cost, and scarcity economics mean promotional pressure is far lower than in mass retail. That produces fat gross margin to begin with. Tightly controlled distribution also caps store count and marketing waste, keeping operating costs proportional to revenue rather than exploding with expansion. The combination produces operating margins that mass apparel and big-box retail, which compete on price and rely on high store payroll and markdown activity, rarely approach, even at much greater scale.
What does a rising operating margin on falling revenue tell you?
It can describe two very different stories. A disciplined brand may be trading volume for price to protect margin through a weak consumer cycle, a defensible short-term move. Alternatively, the firm may be harvesting a declining franchise by cutting marketing and store investment, which lifts margin temporarily while eroding the long-term revenue base. Reading operating margin alongside same-store sales, marketing spend, and inventory behavior separates disciplined management from structural decline dressed up in cost cuts.