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2874 companies · fiscal year 2025 · SEC EDGAR · September 25, 2026

Companies in the United States with the highest operating margin

Operating margin is operating income divided by revenue. Only companies with at least $1 billion in revenue are ranked here. Figures are for fiscal year 2025 and are read directly from each company's SEC filings; the source column on every row links to the document.

Ranks 1–100 of 1258 · Fiscal year 2025 · Data as of September 25, 2026

Only companies with at least $1bn in revenue are ranked.

Mgic Investment (MTG) tops the list with 76.5% in operating margin for fiscal 2025, ahead of Applovin (75.8%) and Gaming & Leisure Properties (75.3%). Across the top 10, operating margin ranges from 76.5% down to 65.0%. 1258 companies in the United States report operating margin, 84.7% of the 1486-filer universe. The last place on the list, Cullen/Frost Bankers, comes in at 34.5%.

Operating margin
#CompanyOperating marginYoY15-year trend
1Mgic InvestmentMTGUSFinancials76.5%−4.6%
2ApplovinAPPUSTechnology75.8%+27.8%
3Gaming & Leisure PropertiesGLPIUSReal estate75.3%+2.0%
4Regency CentersREGUSReal estate72.3%+0.4%
5Vici PropertiesVICIUSReal estate70.4%−0.7%
6Enact HoldingsACTUSFinancials69.5%−4.9%
7VerisignVRSNUSTechnology67.7%−0.4%
8Radian GroupRDNUSFinancials66.1%−5.7%
9Royalty PharmaRPRXUSHealthcare65.6%+14.8%
10SL Green RealtySLGUSReal estate65.0%−21.2%
11Cme GroupCMEUSFinancials64.9%+1.1%
12Hess MidstreamHESMUSEnergy62.2%+1.2%
13Federal National Mortgage Association Fannie MaeFNMAUSFinancials62.1%−15.1%
14Royal GoldRGLDUSFinancials61.9%+3.6%
15Brookfield InfrastructureBIPCUSUtilities61.5%+1.8%
16Starwood Real Estate Income TrustSWDRUSReal estate61.1%−2.3%
17Brookfield Asset ManagementBAMUSFinancials60.7%−5.1%
18NVIDIANVDAUSTechnology60.4%−3.3%
19VisaVUSTechnology60.0%−8.7%
20MastercardMAUSTechnology57.6%+4.2%
21Federal Home Loan MortgageFMCCUSFinancials57.4%−7.1%
22Affiliated ManagersAMGUSFinancials57.2%+26.4%
23MSCIMSCIUSTechnology54.7%+2.2%
24Antero MidstreamAMUSUtilities54.2%−9.0%
25Vornado Realty TrustVNOUSReal estate52.5%+2,091.1%
26Omega Healthcare InvestorsOHIUSReal estate52.5%+28.6%
27Southern CopperSCCOUSMaterials52.2%+7.4%
28Slide InsuranceSLDEUSFinancials51.0%+59.9%
29Webster FinancialWBSUSFinancials50.7%+6.0%
30Blackstone Real Estate Income TrustBSTTUSReal estate50.7%−20.0%
31PTC TherapeuticsPTCTUSHealthcare50.1%+87.6 pp
32NewmontNEMUSMaterials50.0%+104.2%
33Simon PropertySPGUSReal estate49.9%−3.8%
34BlackstoneBXUSFinancials49.6%+1.6%
35PrologisPLDUSReal estate49.6%−7.9%
36DT MidstreamDTMUSUtilities49.4%−0.9%
37Crown CastleCCIUSReal estate48.7%+2.5%
38Schwab CharlesSCHWUSFinancials47.9%+22.1%
39Sba CommunicationsSBACUSReal estate47.7%−11.0%
40Essex Property TrustESSUSReal estate47.6%+20.3%
41TransDigm GroupTDGUSIndustrials47.2%+6.1%
42Robinhood MarketsHOODUSFinancials47.1%+30.7%
43Federal Realty Investment TrustFRTUSReal estate47.1%+19.9%
44United TherapeuticsUTHRUSHealthcare46.9%−2.0%
45Fair IsaacFICOUSTechnology46.5%+8.8%
46McDonald'sMCDUSConsumer discretionary46.1%+2.0%
47MPLXMPLXUSEnergy45.7%+3.2%
48MicrosoftMSFTUSTechnology45.6%+2.2%
49Cheniere EnergyLNGUSUtilities45.6%+16.9%
50American TowerAMTUSReal estate45.5%+2.1%
51CorpayCPAYUSTechnology44.0%−2.1%
52Verisk AnalyticsVRSKUSTechnology43.7%+0.5%
53MoodysMCOUSIndustrials43.4%+7.0%
54Arista NetworksANETUSTechnology42.8%+1.8%
55Altria GroupMOUSConsumer staples42.5%−9.1%
56Gen DigitalGENUSTechnology42.4%+3.6%
57S&P GlobalSPGIUSIndustrials42.2%+7.6%
58Gulfport EnergyGPORUSEnergy42.2%+66.9 pp
59Extra Space StorageEXRUSReal estate41.8%+2.9%
60Western Midstream PartnersWESUSUtilities41.7%−23.8%
61Meta PlatformsMETAUSTechnology41.4%−1.8%
62Tradeweb MarketsTWUSFinancials40.7%+3.6%
63NovavaxNVAXUSHealthcare40.3%+76.8 pp
64Union PacificUNPUSIndustrials40.2%+0.3%
65BroadcomAVGOUSTechnology39.9%+52.8%
66JPMorgan ChaseJPMUSFinancials39.8%−5.9%
67United Community BanksUCBUSFinancials39.7%+17.1%
68Eli LillyLLYUSHealthcare39.5%+40.2%
69Intercontinental ExchangeICEUSFinancials39.0%+6.4%
70PaychexPAYXUSIndustrials38.6%−2.7%
71KlaKLACUSTechnology38.2%+17.5%
72New Jersey ResourcesNJRUSUtilities37.7%+1.1%
73EqtEQTUSEnergy37.6%+189.3%
74ExelixisEXELUSHealthcare37.6%+34.8%
75Goldman SachsGSUSFinancials37.5%+9.1%
76Venture GlobalVGUSUtilities37.4%+5.6%
77First HorizonFHNUSFinancials37.4%+18.8%
78Public StoragePSAUSReal estate37.1%−16.6%
79PNC Financial ServicesPNCUSFinancials36.7%+9.3%
80Edison InternationalEIXUSUtilities36.7%+120.6%
81Essential UtilitiesWTRGUSUtilities36.7%−0.6%
82American Water WorksAWKUSUtilities36.7%−0.6%
83Philip Morris InternationalPMUSConsumer staples36.6%+3.5%
84Victory CapitalVCTRUSFinancials36.6%−23.4%
85AdobeADBEUSTechnology36.6%+16.8%
86CopartCPRTUSConsumer discretionary36.5%−1.6%
87KKRKKRUSFinancials36.5%+36.2%
88Hecla MiningHLUSMaterials36.2%+216.5%
89Kimco RealtyKIMUSReal estate36.0%+16.6%
90PTCPTCUSTechnology35.9%+40.2%
91IngevityNGVTUSMaterials35.9%+1.0%
92Norfolk SouthernNSCUSIndustrials35.8%+6.5%
93National Fuel GasNFGUSUtilities35.7%+231.2%
94White Mountains InsuranceWTMUSFinancials35.6%+151.6%
95ZoetisZTSUSHealthcare35.5%+4.9%
96Encore CapitalECPGUSFinancials35.4%+196.4%
97Lam ResearchLRCXUSIndustrials35.3%+10.3%
98Vertex PharmaceuticalsVRTXUSHealthcare34.8%+36.9 pp
99Johnson & JohnsonJNJUSHealthcare34.6%+84.1%
100Cullen/Frost BankersCFRUSFinancials34.5%+2.4%

All figures from SEC filings · FY2025 · 100

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{{cite web |title=Companies in the United States with the highest operating margin |url=https://companiesranked.com/en/companies-with-the-highest-operating-margin-in-the-united-states |website=CompaniesRanked |date=2026-09-25 |language=en}}

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CompaniesRanked. (September 25, 2026). Companies in the United States with the highest operating margin. CompaniesRanked. https://companiesranked.com/en/companies-with-the-highest-operating-margin-in-the-united-states

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@misc{companiesranked-en-companies-with-the-highest-operating-margin-in-the-united-states-2026,
  author       = {{CompaniesRanked}},
  title        = {{Companies in the United States with the highest operating margin}},
  year         = {2026},
  howpublished = {\url{https://companiesranked.com/en/companies-with-the-highest-operating-margin-in-the-united-states}},
  note         = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
  urldate      = {2026-09-25}
}

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