Top Companies by Operating Margin
This ranking orders the large U.S.-listed companies covered by Company Financials Data by their most recent annual operating margin (calculated), taken directly from their 10-K filings in the SEC EDGAR database. Data: SEC EDGAR company facts, retrieved October 2026; each row shows the fiscal year the figure was filed under, because companies close their books on different dates and a ranking that hides the year would mislead. Only companies that actually reported the measure in a recent annual filing appear here — a company is never assigned an estimated figure to fill a gap in the table.
| # | Company | Margin / rate | Fiscal year |
|---|---|---|---|
| 1 | AppLovin Corporation (APP) | $75.75% | FY2025 |
| 2 | Micron Technology, Inc. (MU) | $74.59% | FY2026 |
| 3 | Cme Group Inc. (CME) | $64.86% | FY2025 |
| 4 | Sandisk Corporation (SNDK) | $61.19% | FY2026 |
| 5 | Mplx Lp (MPLX) | $61.10% | FY2025 |
| 6 | Nvidia Corp (NVDA) | $60.38% | FY2026 |
| 7 | Visa Inc. (V) | $59.98% | FY2025 |
| 8 | Mastercard Incorporated (MA) | $57.63% | FY2025 |
| 9 | Southern Copper Corp/ (SCCO) | $52.17% | FY2025 |
| 10 | Prologis, Inc. (PLD) | $49.58% | FY2025 |
| 11 | TransDigm Group Incorporated (TDG) | $47.16% | FY2025 |
| 12 | Cheniere Energy, Inc. (LNG) | $46.81% | FY2025 |
| 13 | Microsoft Corporation (MSFT) | $46.78% | FY2026 |
| 14 | McDONALD’S CORPORATION (MCD) | $46.10% | FY2025 |
| 15 | Moody’s Corporation (MCO) | $43.42% | FY2025 |
| 16 | Arista Networks, Inc. (ANET) | $42.82% | FY2025 |
| 17 | Altria Group, Inc. (MO) | $42.52% | FY2025 |
| 18 | S&P Global Inc. (SPGI) | $42.24% | FY2025 |
| 19 | Meta Platforms, Inc. (META) | $41.44% | FY2025 |
| 20 | Union Pacific Corp (UNP) | $40.17% | FY2025 |
| 21 | Broadcom Inc. (AVGO) | $39.89% | FY2025 |
| 22 | Intercontinental Exchange, Inc. (ICE) | $39.00% | FY2025 |
| 23 | Canadian Pacific Kansas City Ltd/Cn (CP) | $37.47% | FY2025 |
| 24 | Enbridge Inc. (ENB) | $37.36% | FY2025 |
| 25 | Philip Morris International Inc. (PM) | $36.64% | FY2025 |
Reading the top of the table
AppLovin Corporation (APP) ranks number 1 with operating margin (calculated) of 75.8% in fiscal 2025. Micron Technology, Inc. (MU) ranks number 2 with operating margin (calculated) of 74.6% in fiscal 2026. Cme Group Inc. (CME) ranks number 3 with operating margin (calculated) of 64.9% in fiscal 2025. Sandisk Corporation (SNDK) ranks number 4 with operating margin (calculated) of 61.2% in fiscal 2026. Mplx Lp (MPLX) ranks number 5 with operating margin (calculated) of 61.1% in fiscal 2025.
Rankings like this one reward efficiency rather than scale, and that cuts both ways. A ratio can look extraordinary when its denominator is unusually small — a company with a thin equity base, for example, can post a very high return on equity without earning an exceptional amount of profit — so the companies at the top are not automatically the best managed or the safest. That is why this site publishes a family of rankings rather than a single league table: read a ratio ranking beside the matching absolute ranking (revenue, net income, total assets) so the size of the business behind the percentage stays in view. Comparing at least two rankings side by side is the quickest way to see the difference between size and efficiency.
How this ranking was built
Our methodology is deliberately plain. For every company in the directory we pull the annual values tagged in its 10-K filings through the SEC EDGAR XBRL company facts API, keep the most recent fiscal year for the measure in question, and sort. Where a measure is calculated rather than reported — free cash flow is operating cash flow minus capital expenditures, and net margin is net income divided by revenue — the page and the underlying company pages say so. Figures can be restated when a company files an amended report, and the dataset reflects the latest filed value we retrieved in October 2026. Companies that report under international standards or in bank regulatory formats sometimes do not tag this measure in a comparable way; they are omitted from this ranking rather than approximated, and their own company pages show the measures they do report.
Use the ranking as a starting point, not a verdict. Open the company pages linked in the table to see the multi-year history behind each single figure, read our Learn guides if any term is unfamiliar, and always check the original filing before acting on a number. The full list of companies covered is in the company directory, and the other league tables are in the rankings index.
Frequently asked questions
Which company has the highest operating margin (calculated)?
Among the large SEC filers covered on this site, AppLovin Corporation (APP) leads this ranking for fiscal 2025 based on its 10-K filing in SEC EDGAR.
How is this operating margin (calculated) ranking calculated?
Each company's most recent annual 10-K value for the measure is taken from the SEC EDGAR XBRL company facts dataset, and companies are sorted from largest to smallest. Calculated measures — free cash flow, margins, return on equity, return on assets and revenue growth — are derived from reported filing values and labelled as calculated wherever they appear.