The highest cash operating margin, before stock compensation

Cash operating margin, before stock compensation

Ranked from the filings of the companies this site has read, under . 50 of them report a figure for this; the rest are absent rather than ranked last, because a filing that does not carry a number is not a company that scores badly on it.

#CompanyAdj. EBITDA margin
1 AMERICA MOVIL SAB DE CV/ AMX 270.27%
2 ARRAY DIGITAL INFRASTRUCTURE, INC. AD 265.68%
3 SHAFTESBURY CAPITAL PLC SHC.L 186.61%
4 CMB.TECH CMBT.BR 106.62%
5 AVALONBAY COMMUNITIES, INC. AVB 97.83%
6 CPI Europe AG AT0000A3A972.VI 94.19%
7 ACADIA REALTY TRUST AKR 93.55%
8 MID-AMERICA APARTMENT COMMUNITIES, INC. MAA 91.32%
9 The Chemours Company CC 88.92%
10 SAUL CENTERS, INC. BFS 88.32%
11 LandBridge Company LLC LB 88.19%
12 OR ROYALTIES INC. OR 87.30%
13 Prologis, Inc. PLD 84.81%
14 AppLovin Corporation APP 83.54%
15 AGREE REALTY CORPORATION ADC 83.10%
16 Gubra A/S GUBRA.CO 81.54%
17 AerCap Holdings N.V. AER 80.93%
18 LexinFintech Holdings Ltd. LX 79.67%
19 Micron Technology, Inc. MU 76.94%
20 MERLIN PROPERTIES SOCIMI, S.A. MRL.MC 75.93%
21 S IMMO AG BRI.MI 75.61%
22 ZEALAND PHARMA A/S ZEAL.CO 75.52%
23 Enact Holdings, Inc. ACT 70.75%
24 FIRST INDUSTRIAL REALTY TRUST, INC. FR 70.07%
25 SANDRIDGE ENERGY, INC. SD 68.51%
26 Taiwan Semiconductor Manufacturing Company Limited TSM 68.30%
27 NVIDIA CORP NVDA 67.99%
28 ANTERO MIDSTREAM CORPORATION AM 67.73%
29 CME GROUP INC. CME 67.39%
30 VISA INC. V 66.26%
31 AMERICAN TOWER CORPORATION AMT 65.41%
32 Koninklijke Vopak N.V. VPK.AS 65.02%
33 Hudbay Minerals Inc. HBM 64.18%
34 Neptune Insurance Holdings Inc. NP 63.82%
35 ALAMOS GOLD INC. AGI 63.72%
36 Mastercard Incorporated MA 63.49%
37 SOUTHEAST AIRPORT GROUP ASR 63.33%
38 REALTY INCOME CORPORATION O 62.72%
39 NEWMONT CORPORATION NEM 61.51%
40 AngloGold Ashanti plc AU 61.25%
41 MICROSOFT CORPORATION MSFT 60.86%
42 JEUDAN A/S JDAN.CO 60.67%
43 MSCI INC. MSCI 60.06%
44 Tradeweb Markets Inc. TW 59.82%
45 FAIR ISAAC CORP FICO 59.61%
46 PARK STREET A/S PARKST-A.CO 59.39%
47 Meta Platforms, Inc. META 59.06%
48 NEXTERA ENERGY INC NEE 58.74%
49 Williams Companies, Inc. WMB 57.98%
50 HECLA MINING COMPANY HL 57.63%

How this measure is worked out

(Operating income + depreciation and amortisation + share-based compensation) ÷ revenue × 100

Adjusted EBITDA margin. Depreciation and amortisation are the yearly write-down of assets already paid for, so adding them back shows profit before non-cash charges. The only non-GAAP figure in the model.

the one non-GAAP input, on the same scale as the first

More about Adj. EBITDA margin, and the XBRL tags behind it

What this ranking is not

It is not advice, and a high place is not a recommendation. A company can lead on one measure and fail on every other; that is the reason this site scores five dimensions rather than one and lets you weigh them yourself.

It also ranks only what has been read. A company whose filings are not in this database cannot appear here however well it would have done, and a company whose filing does not tag this figure is absent rather than last.

Worked out on 2026-08-24.

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