Key Highlights

  • Palantir led the group with a calculated net Margin of 48.8%, on Net Income of $1.128 billion and Revenue of $2.313 billion.
  • Diamondback Energy's calculated net margin was 29.5%, with net income of $1.603 billion on revenue of $5.431 billion.
  • The five calculated margins average 32.5%, and the pooled margin across the group is 27.4% (calculated).
  • Apple's $30.711 billion of net income was the largest in the group but a 26.8% margin, the lowest of the five (calculated).
  • The gap between first and fifth place is 21.9 percentage points (calculated), and ranks two to five sit within 2.7 points of each other.

Which Companies With Over $1 Billion of Revenue Posted the Highest Net Margins?

Five companies with quarterly revenue above $1 billion posted the highest net margins in this group, all reporting on Nov 2, 2026. Margins here are our own calculation of net income divided by revenue, using the figures in each company's results. Palantir (NASDAQ:PLTR) ranked first at 48.8%, with net income of $1.128 billion on revenue of $2.313 billion.

Diamondback Energy (NASDAQ:FANG) followed at 29.5% ($1.603 billion on $5.431 billion), then Equitable Holdings (NYSE:EQH) at 28.9% ($1.121 billion on $3.881 billion), Lumentum (NASDAQ:LITE) at 28.5% ($360.3 million on $1,262.6 million) and Apple (NASDAQ:AAPL) at 26.8% ($30.711 billion on $114.477 billion).

The bases differ. Lumentum reported its fiscal first quarter of 2027 and Apple its fiscal fourth quarter of 2026, while the others reported calendar third quarters. The group also spans software, oil and gas, financial services, optical components and consumer hardware, and revenue ranges from about $1.3 billion to $114.5 billion.

1. Palantir: What Drove a 48.8% Net Margin on $2.313 Billion of Revenue?

Palantir reported revenue up 96% from a year earlier and 20% from the prior quarter, passing $2 billion for the first time. GAAP net income attributable to common stockholders was $1.128 billion, or $0.44 per diluted share, compared with $475.6 million a year earlier. The company itself cited a 49% margin, consistent with our 48.8% calculation.

U.S. commercial revenue grew 148% to $984 million and moved ahead of U.S. government revenue of $953 million for the first time. Adjusted free Cash Flow was $1.216 billion and cash and Treasuries totaled $10.4 billion. Full-year revenue guidance was raised to $8.530 billion to $8.534 billion, and the fourth quarter is guided to $2.649 billion to $2.653 billion.

2. Diamondback Energy: How Did Oil Pricing Support a Net Margin Near 30%?

Diamondback reported revenue of $5.431 billion, up 38.4% (calculated) from $3.924 billion, and net income attributable to the company of $1.603 billion, or $5.69 per diluted share, versus $1.018 billion, or $3.51. Oil production held at 525 MBO/d, flat with the second quarter, and the realized oil price was $87.30 per barrel against $64.60 a year ago but below $96.82 in the second quarter.

Free cash flow was $2.148 billion on cash Capital spending of $1.0 billion. The board raised the annual base Dividend 7.3% to $4.72 per share, with the $1.18 quarterly payment due Nov 19, 2026, and the company bought back 1.3 million shares for about $251 million. Full-year oil production guidance rose to about 524 MBO/d.

3. Equitable Holdings: Which Items Shaped a 28.9% Net Margin After Last Year's Loss?

Equitable reported net income attributable to the company of about $1.1 billion, or $4.05 per share, against a net loss of $1.3 billion a year earlier. Total revenues were $3.881 billion versus $1.450 billion. The margin uses the $1,121 million net income figure in the article's data summary.

Non-GAAP operating Earnings were $595 million, or $2.13 per share. After notable items, operating earnings were $554 million, or $1.98 per share, up 19%. An annual actuarial assumption review added $111 million to net income, so the GAAP margin includes that item. The company returned $320 million to shareholders, and a Merger with another large insurer remains on track to close by year-end 2026, subject to regulatory approvals.

4. Lumentum: How Did Revenue More Than Double to Support a 28.5% Net Margin?

Lumentum reported fiscal first quarter revenue of $1,262.6 million, up 136.5% from $533.8 million, with GAAP net income of $360.3 million, or $3.54 per diluted share, versus $4.2 million a year earlier. Non-GAAP net income was $461.1 million and the non-GAAP Operating Margin was 42.3%.

Management said it secured a second major win in near-packaged and co-packaged optics, backed by purchase commitments above $5 billion. Second quarter revenue is guided to $1.575 billion to $1.625 billion. As a caution, the prior quarter showed a $7.2 billion net loss tied to a $7,756.6 million loss on Debt extinguishment, and cash fell $758.8 million for a reason the files do not state.

5. Apple: Why Is the Largest Profit in the Group a 26.8% Net Margin?

Apple reported fiscal fourth quarter revenue of $114.5 billion, up 12%, and net income of $30.7 billion versus $27.5 billion, with diluted earnings of $2.10 per share. Results included a $0.05 per share benefit from Tariff refunds, which also added roughly 1 percentage point to the 47.9% gross margin.

iPhone revenue rose 17% to $57.6 billion and Services set a record at $31.6 billion. Operating expenses rose 21% to $19.2 billion. December quarter revenue is guided to grow 7% to 10%, with gross margin of 45% to 46% reflecting mainly higher memory costs, and a $0.27 dividend is payable on Nov 16, 2026.

Net Margin Spread: Palantir's Lead Over the $1 Billion Revenue Group

The gap between Palantir's 48.8% and Apple's 26.8% is 21.9 percentage points (calculated). The simple average of the five margins is 32.5% (calculated), but that average is pulled up by Palantir; ranks two to five sit within a 2.7 point band, from 29.5% to 26.8% (calculated).

Pooling the group gives combined net income of about $34.9 billion on combined revenue of about $127.4 billion, a 27.4% margin (calculated). Apple makes up roughly 89.9% of that combined revenue (calculated), which is why the pooled figure sits close to Apple's own margin.

Margins are not like for like. Equitable's revenue and net income include large swings from last year's loss and an actuarial review, Lumentum's prior quarter carried a large debt-related loss, and Apple's net income includes a tariff refund benefit that management put at $0.05 per share.

What to Watch Next: Dividend Dates, the Merger Timetable and Fourth-Quarter Guidance

Apple's $0.27 dividend is payable on Nov 16, 2026 to holders of record on Nov 12, 2026, and Diamondback's $1.18 quarterly dividend is payable on Nov 19, 2026 to holders of record on Nov 12, 2026. Equitable expects its merger to close by year-end 2026.

Palantir named its fourth quarter results as the next milestone, and Lumentum its second quarter results, but neither article gives a date. Apple's next report will show Supply conditions and the margin effect of memory pricing, also without a stated date. Lumentum's quarterly filing was still to be filed, with no date given.