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

Materials companies 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 106 · Fiscal year 2025 · Data as of September 25, 2026

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

Franco Nevada (FNV) tops the list with 74.3% in operating margin for fiscal 2025, ahead of Wheaton Precious Metals (68.3%) and Alamos Gold (60.7%). Across the top 10, operating margin ranges from 74.3% down to 38.0%. 106 companies in Materials report operating margin, 7.1% of the 1486-filer universe. The last place on the list, Commercial Metals, comes in at 1.4%.

Operating margin
#CompanyOperating marginYoY15-year trend
1Franco NevadaFNVCA74.3%+13.9%
2Wheaton Precious MetalsWPMCA68.3%+41.4%
3Alamos GoldAGICA60.7%+45.4%
4Southern CopperSCCOUS52.2%+7.4%
5NewmontNEMUS50.0%+104.2%
6Kinross GoldKGCCA46.5%+55.4%
7Hudbay MineralsHBMCA41.5%+109.3%
8Eldorado GoldEGOCA40.0%+26.1%
9IamgoldIAGCA38.3%−33.7%
10BHP GroupBHPAU38.0%+20.5%
11Hecla MiningHLUS36.2%+216.5%
12IngevityNGVTUS35.9%+1.0%
13Coeur MiningCDEUS34.2%+119.3%
14Pan American SilverPAASCA34.1%+80.9%
15CF IndustriesCFUS32.5%+10.4%
16First Majestic SilverAGCA31.6%+32.3 pp
17Harmony Gold MiningHMYZA27.5%+44.8%
18Westlake Chemical PartnersWLKPUS27.4%−20.3%
19Armstrong World IndustriesAWIUS26.6%+2.7%
20LindeLINGB26.3%+0.4%
21Rio TintoRIOGB25.9%−11.2%
22Freeport-McmoranFCXUS25.2%−6.7%
23Howmet AerospaceHWMUS24.8%+12.8%
24Equinox GoldEQXCA23.8%+43.2%
25Eagle MaterialsEXPUS23.5%−10.3%
26Martin Marietta MaterialsMLMUS23.4%−46.6%
27Agnico Eagle MinesAEMCA23.3%−3.9%
28Mueller IndustriesMLIUS22.9%+12.2%
29SuzanoSUZBR21.2%−35.8%
30Teck ResourcesTECKCA20.9%+21.0 pp
31Vulcan MaterialsVMCUS20.4%+10.9%
32Advanced Drainage SystemsWMSUS20.3%−10.3%
33BalchemBCPCUS20.2%+5.2%
34Carlisle CompaniesCSLUS20.0%−12.6%
35NewmarketNEUUS20.0%−5.8%
36TenarisTSLU19.1%−1.3%
37Carpenter TechnologyCRSUS18.1%+54.9%
38CamecoCCJCA17.8%+9.1%
39CabotCBTUS16.7%+8.8%
40Solstice Advanced MaterialsSOLSUS16.6%−21.2%
41Nexa ResourcesNEXALU16.6%+66.0%
42AmrizeAMRZCH16.1%−14.0%
43Titan AmericaTTAMUS16.1%+4.7%
44CSW IndustrialsCSWUS15.6%−24.6%
45Mdu ResourcesMDUUS15.5%+2.5%
46ValeVALEBR15.4%−45.8%
47CorningGLWUS14.6%+68.5%
48CRH PublicCRHIE14.5%+4.9%
49Axalta Coating SystemsAXTAUS14.4%+7.3%
50Kimberly ClarkKMBUS14.3%−11.0%
51EntegrisENTGUS14.3%−13.4%
52EnproNPOUS14.1%+4.2%
53AtiATIUS14.0%+0.1%
54NutrienNTRCA13.9%+94.5%
55Sonoco ProductsSONUS13.5%+119.9%
56Element SolutionsESIUS13.4%−4.2%
57AptargroupATRUS13.3%−4.3%
58PPG IndustriesPPGUS12.9%+10.2%
59Sensient TechnologiesSXTUS12.8%+4.4%
60Packaging Corp of AmericaPKGUS12.3%−6.3%
61MethanexMEOHCA12.0%+23.4%
62BeldenBDCUS11.6%+7.4%
63RPM InternationalRPMUS11.1%+2.9%
64Gibraltar IndustriesROCKUS10.8%−20.8%
65Reynolds Consumer ProductsREYNUS10.6%−13.5%
66Scotts Miracle-GroSMGUS10.5%+78.8%
67Avery DennisonAVYUS10.4%−4.1%
68Fuller H BFULUS10.0%−3.5%
69International PaperIPUS10.0%—
70Graphic PackagingGPKUS9.3%−26.6%
71James Hardie IndustriesJHXIE9.3%−45.3%
72Knife RiverKNFUS9.1%−16.7%
73HexcelHXLUS9.1%−7.3%
74AlcoaAAUS8.3%+241.3%
75Steel DynamicsSTLDUS8.1%−26.7%
76Icl GroupICLIL8.1%−28.4%
77NucorNUEUS7.9%−16.3%
78SylvamoSLVMUS7.5%−37.6%
79InnospecIOSPUS7.3%−24.4%
80MosaicMOSUS6.8%+22.0%
81Eastman ChemicalEMNUS6.5%−43.5%
82Century AluminumCENXUS6.3%+28.1%
83AvientAVNTUS6.2%−38.6%
84Apogee EnterprisesAPOGUS6.0%−30.7%
85ArcelormittalMTLU5.9%+11.6%
86Kaiser AluminumKALUUS5.6%+50.9%
87Worthington EnterprisesWORUS5.5%+6.4 pp
88Smurfit WestRockSWIE5.5%+15.6%
89GerdauGGBBR5.4%−52.1%
90Matthews InternationalMATWUS5.0%+5.7 pp
91ConstelliumCSTMFR4.8%+162.4%
92TerniumTXLU4.5%−36.9%
93AdvansixASIXUS3.6%+19.1%
94Owens CorningOCUS3.6%−76.3%
95ValhiVHIUS3.0%−69.6%
96DuPont de NemoursDDUS2.9%+67.7%
97Minerals TechnologiesMTXUS2.3%−83.1%
98Compass Minerals InternationalCMPUS2.0%+12.5 pp
99OrionOECUS1.5%−72.2%
100Commercial MetalsCMCUS1.4%−82.8%

All figures from SEC filings · FY2025 · 100

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{{cite web |title=Materials companies with the highest operating margin |url=https://companiesranked.com/en/materials-companies-with-the-highest-operating-margin |website=CompaniesRanked |date=2026-09-25 |language=en}}

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

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