Microsoft (MSFT) Operating Margin (2009 - 2026)

Microsoft has disclosed Operating Margin across 18 years of filings, most recently posting 46.33% for Q1 2026.

• Operating Margin for Q1 2026 came in at 46.33%, up 66.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 46.8% (up 157.0% YoY), and the FY2025 annual result was 45.62%, up 98.0% from the prior year.
• Operating Margin came in at 46.33% for Q1 2026 at Microsoft, down from 47.09% 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.
• The 5-year median for Operating Margin is 44.59% (2024), against an average of 44.22%.
• Across the five-year window, Operating Margin sank 433 bps in 2022 and surged 491 bps in 2023, its largest moves.
• Microsoft's 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 decreased by 2 bps to 46.33% in 2026.
• The last three Operating Margin figures came in at 46.33% (Q1 2026), 47.09% (Q4 2025), and 48.87% (Q3 2025), per Business Quant data.