TTM
46.8%
YoY change
+0.98pp
Trough year (2015)
19.4%
Peak year (1999)
50.9%
Latest annual
45.6%
Operating Margin history chart for Microsoft (MSFT) from 1986 to 2025
Latest: 45.6%
Operating Margin change chart for Microsoft (MSFT) from 1986 to 2025
Latest: +0.98pp
Operating Margin history table for Microsoft (MSFT) from 1986 to 2025
| 2025 | 45.6% | +0.98pp | ||
| 2024 | 44.6% | +2.87pp | ||
| 2023 | 41.8% | -0.28pp | ||
| 2022 | 42.1% | +0.46pp | ||
| 2021 | 41.6% | +4.56pp | ||
| 2020 | 37.0% | +2.89pp | ||
| 2019 | 34.1% | +2.37pp | ||
| 2018 | 31.8% | +1.71pp | ||
| 2017 | 30.1% | +1.45pp | ||
| 2016 | 28.6% | +9.20pp | ||
| 2015 | 19.4% | -12.56pp | ||
| 2014 | 32.0% | -2.41pp | ||
| 2013 | 34.4% | +4.86pp | ||
| 2012 | 29.5% | -9.31pp | ||
| 2011 | 38.8% | +0.27pp | ||
| 2010 | 38.6% | +3.72pp | ||
| 2009 | 34.8% | -2.01pp | ||
| 2008 | 36.9% | +0.79pp | ||
| 2007 | 36.1% | -1.13pp | ||
| 2006 | 37.2% | +0.60pp | ||
| 2005 | 36.6% | +12.07pp | ||
| 2004 | 24.5% | -5.13pp | ||
| 2003 | 29.7% | -12.33pp | ||
| 2002 | 42.0% | -4.34pp | ||
| 2001 | 46.3% | -1.61pp | ||
| 2000 | 47.9% | -2.91pp | ||
| 1999 | 50.9% | +6.89pp | ||
| 1998 | 44.0% | +3.16pp | ||
| 1997 | 40.8% | +5.31pp | ||
| 1996 | 35.5% | +1.17pp | ||
| 1995 | 34.3% | -2.80pp | ||
| 1994 | 37.1% | +1.79pp | ||
| 1993 | 35.3% | -0.77pp | ||
| 1992 | 36.1% | +0.85pp | ||
| 1991 | 35.3% | +2.02pp | ||
| 1990 | 33.2% | +3.08pp | ||
| 1989 | 30.1% | -1.58pp | ||
| 1988 | 31.7% | -4.97pp | ||
| 1987 | 36.7% | +5.85pp | ||
| 1986 | 30.8% | — |
- 202545.6%+0.98pp
- 202444.6%+2.87pp
- 202341.8%-0.28pp
- 202242.1%+0.46pp
- 202141.6%+4.56pp
- 202037.0%+2.89pp
- 201934.1%+2.37pp
- 201831.8%+1.71pp
- 201730.1%+1.45pp
- 201628.6%+9.20pp
- 201519.4%-12.56pp
- 201432.0%-2.41pp
- 201334.4%+4.86pp
- 201229.5%-9.31pp
- 201138.8%+0.27pp
- 201038.6%+3.72pp
- 200934.8%-2.01pp
- 200836.9%+0.79pp
- 200736.1%-1.13pp
- 200637.2%+0.60pp
- 200536.6%+12.07pp
- 200424.5%-5.13pp
- 200329.7%-12.33pp
- 200242.0%-4.34pp
- 200146.3%-1.61pp
- 200047.9%-2.91pp
- 199950.9%+6.89pp
- 199844.0%+3.16pp
- 199740.8%+5.31pp
- 199635.5%+1.17pp
- 199534.3%-2.80pp
- 199437.1%+1.79pp
- 199335.3%-0.77pp
- 199236.1%+0.85pp
- 199135.3%+2.02pp
- 199033.2%+3.08pp
- 198930.1%-1.58pp
- 198831.7%-4.97pp
- 198736.7%+5.85pp
- 198630.8%—
Operating Margin values are taken from Microsoft's reported income statements (quarterly 10-Q and annual 10-K 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 Microsoft (MSFT)
According to Microsoft's latest reported financial statements, the company's latest reported operating margin is 46.8%. 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 (reported ). Chart and table below cover the full reported history back to .
In 2025, Microsoft (MSFT) operating margin totalled 45.62% – expanded 1.0 percentage points year-over-year.
50.86% stands as the all-time-high annual operating margin, posted in 1999, against a low of 19.41% during 2015.
Microsoft Operating Margin by Year
Microsoft Operating Margin 2025: 45.6%
In 2025, Microsoft reported operating margin of 45.62%, expanded 1.0 percentage points from 2024.
Microsoft Operating Margin 2024: 44.6%
Microsoft operating margin in 2024 was 44.64%, expanded 2.9 percentage points from 2023.
Microsoft Operating Margin 2023: 41.8%
2023's operating margin for Microsoft came in at 41.77%, contracted 0.3 percentage points from 2022.
Microsoft Operating Margin 2022: 42.1%
Microsoft posted operating margin of 42.06% in 2022, expanded 0.5 percentage points from 2021.
Microsoft Operating Margin 2021: 41.6%
Microsoft operating margin in 2021 was 41.59%.
See more financial history for Microsoft (MSFT).
Sector peers by Operating Margin
Technology peers of Microsoft (MSFT), ranked by their latest operating margin
| 64.0% | |
| 53.2% | |
| 48.5% | |
| 43.7% | |
| 34.8% | |
| 32.6% | |
| 30.8% | |
| 11.7% |
- 64.0%
- 53.2%
- 43.7%
- 34.8%
- 32.6%
- 30.8%
- 11.7%
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