Large companies with operating margins above 25%
Operating income against revenue for companies with more than $5bn of revenue, both as the filer reported them and neither adjusted.
| Company | Revenue | Net income | Gross margin | Free cash flow |
|---|---|---|---|---|
| AAPLApple Inc. | $416.16B | $112.01B | 46.9% | $98.77B |
| GOOGLAlphabet Inc. | $402.84B | $132.17B | 59.7% | $73.27B |
| MSFTMICROSOFT CORP | $331.84B | $133.75B | 67.9% | $66.99B |
| NVDANVIDIA CORP | $215.94B | $120.07B | 71.1% | Unavailable |
| METAMeta Platforms, Inc. | $200.97B | $60.46B | 82.0% | $46.11B |
| MUMICRON TECHNOLOGY INC | $133.19B | $84.97B | 80.7% | $58.96B |
| ORCLORACLE CORP | $67.36B | $17.09B | Unavailable | -$23.69B |
| AVGOBroadcom Inc. | $63.89B | Unavailable | 67.8% | $26.91B |
| KOCOCA COLA CO | $47.94B | $13.11B | 61.6% | $5.30B |
| NFLXNETFLIX INC | $45.18B | $10.98B | 48.5% | $9.46B |
| QCOMQUALCOMM INC/DE | $44.28B | $5.54B | 55.4% | Unavailable |
| PMPhilip Morris International Inc. | $40.65B | $11.35B | 67.1% | $10.66B |
| VVISA INC. | $40.00B | $20.06B | Unavailable | Unavailable |
| LINLINDE PLC | $33.99B | $6.90B | Unavailable | $5.09B |
| MAMastercard Inc | $32.79B | Unavailable | Unavailable | $17.16B |
| DUKDuke Energy CORP | $31.74B | $4.97B | Unavailable | -$1.69B |
| GILDGILEAD SCIENCES, INC. | $29.44B | $8.51B | 78.8% | $9.46B |
| AMATAPPLIED MATERIALS INC /DE | $28.37B | $7.00B | 48.7% | $5.70B |
| BKNGBooking Holdings Inc. | $26.92B | Unavailable | Unavailable | $9.09B |
| MCDMCDONALDS CORP | $26.88B | $8.56B | Unavailable | $7.19B |
| FCXFREEPORT-MCMORAN INC | $25.92B | Unavailable | 28.2% | Unavailable |
| NEENEXTERA ENERGY INC | $25.80B | $6.84B | Unavailable | Unavailable |
| UNPUNION PACIFIC CORP | $24.51B | $7.14B | Unavailable | $5.50B |
| BLK Broker-dealerBlackRock, Inc. | $24.22B | $5.55B | Unavailable | $3.55B |
| ADBEADOBE INC. | $23.77B | $7.13B | 89.3% | $9.85B |
| MOALTRIA GROUP, INC. | $23.28B | $6.95B | 62.5% | $9.07B |
| LRCXLAM RESEARCH CORP | $23.23B | $7.27B | 50.5% | Unavailable |
| APHAMPHENOL CORP /DE/ | $23.09B | $4.27B | 36.9% | $4.38B |
| EOGEOG RESOURCES INC | $22.63B | $4.98B | Unavailable | Unavailable |
| INTUINTUIT INC. | $21.45B | $4.57B | Unavailable | $8.66B |
| FISVFISERV INC | $21.19B | $3.48B | Unavailable | $4.30B |
| SNDKSandisk Corp | $20.25B | $11.43B | 71.5% | $11.49B |
| LNGCheniere Energy, Inc. | $19.98B | $5.33B | Unavailable | $2.46B |
| EIXEDISON INTERNATIONAL | $19.32B | $4.46B | Unavailable | -$715.00M |
| RCLROYAL CARIBBEAN CRUISES LTD | $17.94B | $4.27B | 49.4% | $1.24B |
| TXNTEXAS INSTRUMENTS INC | $17.68B | $5.00B | 57.0% | $2.60B |
| AON InsurerAon plc | $17.18B | $3.70B | Unavailable | $3.22B |
| KMIKINDER MORGAN, INC. | $16.94B | $3.06B | Unavailable | $2.89B |
| DDOMINION ENERGY, INC | $16.51B | $3.00B | Unavailable | Unavailable |
| ITWILLINOIS TOOL WORKS INC | $16.04B | Unavailable | 52.9% | $2.71B |
| SPGIS&P Global Inc. | $15.34B | $4.47B | 70.2% | Unavailable |
| CPCANADIAN PACIFIC KANSAS CITY LTD/CN | $15.08B | $4.14B | Unavailable | $2.21B |
| CSXCSX CORP | $14.09B | $2.89B | Unavailable | $1.71B |
| VGVenture Global, Inc. | $13.77B | Unavailable | Unavailable | -$6.80B |
| SCCOSOUTHERN COPPER CORP/ | $13.42B | Unavailable | 60.1% | $3.43B |
| MPLXMPLX LP | $13.00B | Unavailable | Unavailable | $4.10B |
| WDCWESTERN DIGITAL CORP | $12.92B | $9.42B | 48.9% | $3.51B |
| ICE Broker-dealerIntercontinental Exchange, Inc. | $12.64B | $3.32B | Unavailable | $4.29B |
| STXSeagate Technology Holdings plc | $12.20B | $3.18B | 45.6% | $3.10B |
| NSCNORFOLK SOUTHERN CORP | $12.18B | $2.87B | Unavailable | $2.16B |
| VRTXVERTEX PHARMACEUTICALS INC / MA | $12.00B | $3.95B | 86.2% | $3.19B |
| WMBWILLIAMS COMPANIES, INC. | $11.95B | $2.62B | Unavailable | $1.00B |
| MSIMotorola Solutions, Inc. | $11.68B | $2.15B | 51.7% | Unavailable |
| ADIANALOG DEVICES INC | $11.02B | $2.27B | 61.5% | $4.28B |
| CQPCheniere Energy Partners, L.P. | $10.76B | $2.99B | Unavailable | $2.57B |
| AMTAMERICAN TOWER CORP /MA/ | $10.64B | Unavailable | Unavailable | $3.78B |
| ISRGINTUITIVE SURGICAL INC | $10.06B | $2.86B | 66.0% | Unavailable |
| STZCONSTELLATION BRANDS, INC. | $9.14B | $1.69B | 51.6% | $1.79B |
| ANETArista Networks, Inc. | $9.01B | $3.51B | 64.1% | Unavailable |
| TDGTransDigm Group INC | $8.83B | $2.07B | 60.1% | $1.82B |
How common this has been
1.6% of companies met this in 2016 and 1.7% in 2025; the share has roughly held.
| Year | Share | Companies | |
|---|---|---|---|
| 2016 | 1.6% | 38 of 2,421 | |
| 2017 | 1.5% | 44 of 3,029 | |
| 2018 | 1.8% | 58 of 3,238 | |
| 2019 | 1.4% | 51 of 3,534 | |
| 2020 | 1.2% | 46 of 3,849 | |
| 2021 | 1.6% | 64 of 4,065 | |
| 2022 | 1.8% | 77 of 4,332 | |
| 2023 | 1.6% | 73 of 4,573 | |
| 2024 | 1.7% | 82 of 4,764 | |
| 2025 | 1.7% | 84 of 4,909 |
Each year is the screen re-run against the figures each company had reported by that December, so it is what the answer would have been at the time rather than today’s companies with old numbers. The denominator is companies with usable figures that year, which grows as coverage does.
Fiscal year ends differ between companies; each row shows that company’s own latest annual period. Figures are the filers’ own, normalized from their SEC filings.
This screen runs as operating_margin > 25% AND revenue > 5b. Open it in the screener to change the conditions, or read the methodology for how each figure is chosen.