What is AstraZeneca's operating margin?

Latest reported operating margin for AstraZeneca (AZN) is 23.69% as of the trailing twelve months (TTM) ending March 31, 2026.

How has AstraZeneca operating margin changed year-over-year?

AstraZeneca (AZN) operating margin changed +4.9 percentage points year-over-year on the latest annual filing.

When did AstraZeneca operating margin hit its highest annual value?

AstraZeneca operating margin reached its highest annual value of 38.09% in 2011.

What was AstraZeneca operating margin in 2024?

AstraZeneca (AZN) operating margin in 2024 was 18.50%.

What was AstraZeneca operating margin in 2025?

AstraZeneca (AZN) operating margin in 2025 was 23.40%.

AstraZeneca (AZN) Operating Margin

TTM

23.7%

YoY change

+4.90pp

Trough year (2021)

2.8%

Peak year (2011)

38.1%

Operating Margin history chart for AstraZeneca (AZN) from 1990 to 2025

Latest: 23.4%

Operating Margin change chart for AstraZeneca (AZN) from 1990 to 2025

Latest: +4.90pp

Operating Margin history table for AstraZeneca (AZN) from 1990 to 2025


2025	23.4%	+4.90pp	Dec 31, 2025	Feb 24, 2026
2024	18.5%	+0.61pp	Dec 31, 2024	Feb 18, 2025
2023	17.9%	+9.41pp	Dec 31, 2023	Dec 31, 2023
2022	8.5%	+5.65pp	Dec 31, 2022	Dec 31, 2022
2021	2.8%	-16.57pp	Dec 31, 2021	Dec 31, 2021
2020	19.4%	+7.40pp	Dec 31, 2020	Dec 31, 2020
2019	12.0%	-3.34pp	Dec 31, 2019	Dec 31, 2019
2018	15.3%	-1.03pp	Dec 31, 2018	Dec 31, 2018
2017	16.4%	-4.94pp	Dec 31, 2017	Dec 31, 2017
2016	21.3%	+4.66pp	Dec 31, 2016	Dec 31, 2016
2015	16.7%	+8.60pp	Dec 31, 2015	Dec 31, 2015
2014	8.0%	-6.33pp	Dec 31, 2014	Dec 31, 2014
2013	14.4%	-14.74pp	Dec 31, 2013	Dec 31, 2013
2012	29.1%	-8.96pp	Dec 31, 2012	Dec 31, 2012
2011	38.1%	+3.54pp	Dec 31, 2011	Dec 31, 2011
2010	34.5%	-0.64pp	Dec 31, 2010	Dec 31, 2010
2009	35.2%	+6.25pp	Dec 31, 2009	Dec 31, 2009
2008	28.9%	+1.55pp	Dec 31, 2008	Dec 31, 2008
2007	27.4%	-3.65pp	Dec 31, 2007	Dec 31, 2007
2006	31.0%	+3.88pp	Dec 31, 2006	Dec 31, 2006
2005	27.1%	+5.93pp	Dec 31, 2005	Dec 31, 2005
2004	21.2%	-0.04pp	Dec 31, 2004	Dec 31, 2004
2003	21.3%	-1.20pp	Dec 31, 2003	Dec 31, 2003
2002	22.5%	-2.76pp	Dec 31, 2002	Dec 31, 2002
2001	25.2%	+4.99pp	Dec 31, 2001	Dec 31, 2001
2000	20.2%	-2.43pp	Dec 31, 2000	Dec 31, 2000
1999	22.7%	+1.22pp	Dec 31, 1999	Dec 31, 1999
1998	21.4%	+0.59pp	Dec 31, 1998	Dec 31, 1998
1997	20.9%	+1.40pp	Dec 31, 1997	Dec 31, 1997
1996	19.4%	+2.52pp	Dec 31, 1996	Dec 31, 1996
1995	16.9%	+2.22pp	Dec 31, 1995	Dec 31, 1995
1994	14.7%	-1.15pp	Dec 31, 1994	Dec 31, 1994
1993	15.9%	+8.74pp	Dec 31, 1993	Dec 31, 1993
1992	7.1%	-10.25pp	Dec 31, 1992	Dec 31, 1992
1991	17.4%	+1.61pp	Dec 31, 1991	Dec 31, 1991
1990	15.7%	—	Dec 31, 1990	Dec 31, 1990

202523.4%+4.90pp
202418.5%+0.61pp
202317.9%+9.41pp
20228.5%+5.65pp
20212.8%-16.57pp
202019.4%+7.40pp
201912.0%-3.34pp
201815.3%-1.03pp
201716.4%-4.94pp
201621.3%+4.66pp
201516.7%+8.60pp
20148.0%-6.33pp
201314.4%-14.74pp
201229.1%-8.96pp
201138.1%+3.54pp
201034.5%-0.64pp
200935.2%+6.25pp
200828.9%+1.55pp
200727.4%-3.65pp
200631.0%+3.88pp
200527.1%+5.93pp
200421.2%-0.04pp
200321.3%-1.20pp
200222.5%-2.76pp
200125.2%+4.99pp
200020.2%-2.43pp
199922.7%+1.22pp
199821.4%+0.59pp
199720.9%+1.40pp
199619.4%+2.52pp
199516.9%+2.22pp
199414.7%-1.15pp
199315.9%+8.74pp
19927.1%-10.25pp
199117.4%+1.61pp
199015.7%—

Operating Margin values are taken from AstraZeneca's reported income statements (interim 6-K and annual 20-F filings with the U.S. Securities and Exchange Commission). Each row shows the period end date and the filing date. YoY compares each figure to the same period one year earlier. Amounts are in USD as filed.

About Operating Margin at AstraZeneca (AZN)

According to AstraZeneca's latest reported financial statements, the company's latest reported operating margin is 23.7%. Operating margin is operating income divided by revenue — the share of each sales dollar left after cost of goods sold and operating expenses (SG&A, R&D), but before interest and taxes. It isolates how profitable the core business is before financing and tax decisions, so it is comparable across companies with different capital structures.

Headline figure above is from the reporting period ending March 31, 2026 (reported April 29, 2026). Chart and table below cover the full reported history back to 1990.

The 2025 reading of AstraZeneca (AZN) operating margin is 23.40% – expanded 4.9 percentage points year-over-year.

The record annual operating margin stands at 38.09%, reached in 2011; the historical low of 2.82% was recorded in 2021.

AstraZeneca Operating Margin by Year

AstraZeneca Operating Margin 2025: 23.4%

AstraZeneca operating margin in 2025 was 23.40%, expanded 4.9 percentage points from 2024.

AstraZeneca Operating Margin 2024: 18.5%

2024's operating margin for AstraZeneca came in at 18.50%, expanded 0.6 percentage points from 2023.

AstraZeneca Operating Margin 2023: 17.9%

AstraZeneca posted operating margin of 17.88% in 2023, expanded 9.4 percentage points from 2022.

AstraZeneca Operating Margin 2022: 8.5%

In 2022, AstraZeneca reported operating margin of 8.47%, expanded 5.6 percentage points from 2021.

AstraZeneca Operating Margin 2021: 2.8%

AstraZeneca operating margin in 2021 was 2.82%.

See more financial history for AstraZeneca (AZN).

Sector peers by Operating Margin

Healthcare peers of AstraZeneca (AZN), ranked by their latest operating margin


Eli Lilly (LLY)	45.9%
Novo Nordisk (NVO)	45.3%
Amgen (AMGN)	31.6%
AbbVie (ABBV)	27.6%
Merck & Co. (MRK)	27.6%
Johnson & Johnson (JNJ)	26.4%
Thermo Fisher Scientific (TMO)	17.8%
UnitedHealth Group (UNH)	4.2%

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