Microsoft (MSFT) Operating Margin (2009 - 2026)
Microsoft's (MSFT) quarterly Operating Margin came in at 45.11% in Q2 2026, up 21.0% year-over-year from 37.28% in Q2 2025, and down 2.62% quarter-over-quarter from 46.33% in Q1 2026.
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Microsoft (MSFT) Operating Margin (2009 - 2026) Analysis & Trends
Microsoft has disclosed Operating Margin across 18 years of filings, most recently posting 45.11% for Q2 2026.
- In Q2 2026, Operating Margin rose 21.0% year-over-year to 45.11%; the TTM figure through Jun 2026 stood at 46.78% (up 116.0% YoY), while the FY2026 annual figure was 46.78%, up 116.0% from the prior year.
- Operating Margin came in at 45.11% for Q2 2026 at Microsoft, down from 46.33% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 48.87% in Q3 2025 to a low of 38.67% in Q4 2022.
- Average Operating Margin over 5 years is 44.27%, with a median of 44.74% recorded in 2024.
- Year-over-year, Operating Margin plunged 433 bps in 2022 and soared 491 bps in 2023.
- Over 5 years, Operating Margin stood at 38.67% in 2022, then advanced by 13 bps to 43.59% in 2023, then gained by 4 bps to 45.46% in 2024, then advanced by 4 bps to 47.09% in 2025, then fell by 4 bps to 45.11% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 45.11% in Q2 2026, 46.33% in Q1 2026, and 47.09% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,717.88 Bn | 3,585.13 Bn | 60.48 Bn | 45.11% |
| 2 | International Business Machines | 219.37 Bn | 208.10 Bn | 9.91 Bn | 15.24% |
| 3 | Cloudflare | 113.46 Bn | 109.29 Bn | 499.52 Mn | -29.55% |
| 4 | Equinix | 102.39 Bn | 100.19 Bn | 1.40 Bn | 25.33% |
| 5 | Nebius | 57.34 Bn | 49.30 Bn | 448.70 Mn | -30.21% |
| 6 | CoreWeave | 47.88 Bn | 42.34 Bn | 1.70 Bn | -1.90% |
| 7 | Verisign | 26.51 Bn | 25.48 Bn | 384.60 Mn | 68.18% |
| 8 | Nutanix | 18.85 Bn | 16.49 Bn | 651.35 Mn | 9.24% |
| 9 | Akamai Technologies | 17.01 Bn | 13.65 Bn | 613.75 Mn | 7.30% |
| 10 | DigitalOcean Holdings | 14.83 Bn | 14.06 Bn | 154.66 Mn | 10.45% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 45.11% |
| Mar 31, 2026 | 46.33% |
| Dec 31, 2025 | 47.09% |
| Sep 30, 2025 | 48.87% |
| Jun 30, 2025 | 44.90% |
| Mar 31, 2025 | 45.67% |
| Dec 31, 2024 | 45.46% |
| Sep 30, 2024 | 46.58% |
| Jun 30, 2024 | 43.14% |
| Mar 31, 2024 | 44.59% |
| Dec 31, 2023 | 43.59% |
| Sep 30, 2023 | 47.59% |
| Jun 30, 2023 | 43.17% |
| Mar 31, 2023 | 42.29% |
| Dec 31, 2022 | 38.67% |
| Sep 30, 2022 | 42.93% |
| Jun 30, 2022 | 39.59% |
| Mar 31, 2022 | 41.26% |
| Dec 31, 2021 | 43.01% |
| Sep 30, 2021 | 44.66% |
API Access
Microsoft Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=MSFT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "MSFT", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=MSFT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();