Net margin

What survives of each dollar of sales after everything.

Formula	Net income ÷ revenue
Companies reporting it	549 of 573
Median	10.2%
Middle half	3.6% – 18.5%
Range	-872.1% – 95.4%

When it lies. Carries tax and one-off items, so it moves for reasons that have nothing to do with the business. Operating margin is the steadier read.

By sector

Sector	n	Median	25th	75th
Investment company	1	66.9%	66.9%	66.9%
Banks & insurers	44	22.1%	12.9%	29.0%
Real estate	39	18.4%	4.5%	32.4%
Financial services	31	15.3%	7.4%	20.9%
Technology	46	14.5%	4.9%	25.4%
Utilities	55	14.2%	10.8%	18.6%
Industrials	79	9.3%	4.7%	13.1%
Health care	44	9.0%	5.1%	20.4%
Consumer discretionary	48	7.6%	3.1%	11.4%
Energy	39	6.7%	0.9%	15.4%
Consumer staples	43	5.9%	1.1%	11.9%
Materials	47	5.4%	-3.3%	10.2%
Communications	31	0.2%	-6.1%	9.4%
not classified	2	-227.7%	-227.7%	1.7%

Highest net margin

#	Ticker	Company	Sector	Net margin
1	AWR	American States Water	Utilities	95.4%
2	CKX	CKX Lands	Energy	93.3%
3	SPG	Simon Property Group	Real estate	84.3%
4	CNA	CNA Financial	Banks & insurers	81.0%
5	VICI	VICI Properties	Real estate	69.3%
6	ALLY	Ally Financial	Banks & insurers	68.5%
7	URI	United Rentals	Consumer discretionary	67.5%
8	HTGC	Hercules Capital	Investment company	66.9%
9	CME	CME Group	Financial services	62.5%
10	SUI	Sun Communities	Real estate	61.3%
11	BAM	Brookfield Asset Management	Financial services	60.8%
12	NVDA	Nvidia	Technology	55.6%
13	ACT	Enact Holdings	Financial services	54.6%
14	SUNB	Sunbelt Rentals Holdings	Consumer discretionary	52.8%
15	L	Loews	Banks & insurers	52.5%
16	GLPI	Gaming & Leisure Properties	Real estate	51.7%
17	VNO	Vornado Realty Trust	Real estate	50.0%
18	VRSN	Verisign	Technology	49.8%
19	OHI	Omega Healthcare Investors	Real estate	49.6%
20	MA	Mastercard	Financial services	45.6%

Lowest

#	Ticker	Company	Sector	Net margin
549	HR	Healthcare Realty Trust	Real estate	-872.1%
548	ASPI	ASP Isotopes	Materials	-782.4%
547	TDTH	Trident Digital Tech Holdings	Industrials	-321.9%
546	SIDU	Sidus Space	Communications	-286.0%
545	OCG	Oriental Culture Holding	not classified	-227.7%
544	SCLX	Scilex Holding	Health care	-128.7%
543	RILY	BRC Group Holdings	Financial services	-77.5%
542	UAMY	United States Antimony	Materials	-73.0%
541	FMC	FMC	Materials	-64.6%
540	SEED	Origin Agritech	Consumer staples	-58.4%

The other metrics

All metrics, and which ones to ignore