Vizora日本語

Operating margin by industry

Operating margin = operating income ÷ revenue

Operating income divided by revenue. Levels differ widely by industry.

See the company ranking →

Operating margin by industry (median)

Each company is counted once, in its largest industry. Industries with three or more companies. Company-wide (consolidated) figures for companies with revenue of ¥1bn or more. Banks and insurers are excluded.

  1. 1Securities & Asset ManagementFinance & Business Services・28 cos.20.7%Top: Japan Exchange Group 58.5%, Yutaka Trusty Securities 48.4%, Traders Holdings 46.6%
  2. 2M&A AdvisoryFinance & Business Services・9 cos.18.1%Top: Nihon M&A Center Holdings 37.3%, M&A Capital Partners 31.7%, Strike Group 31.2%
  3. 3Credit Cards & Consumer CreditFinance & Business Services・17 cos.18.1%Top: Zenkoku Hosho 70.5%, Asax 66.3%, NS Group 33.1%
  4. 4PetsConsumer & Public Services・4 cos.15.0%Top: Japan Animal Referral Medical Center 18.6%, Wolves Hand 16.6%, Inuneko-Seikatsu 13.4%
  5. 5Semiconductor MaterialsElectronics・24 cos.14.8%Top: JCU 41.0%, Tri Chemical Laboratories 24.7%, Shin-Etsu Chemical 24.7%
  6. 6Semiconductor EquipmentElectronics・41 cos.14.5%Top: Lasertec 45.7%, Advantest 44.2%, Disco 42.3%
  7. 7CybersecurityIT, Telecom & Internet・29 cos.14.4%Top: Digital Arts 44.2%, CyberSolutions 42.5%, Tobila Systems 32.0%
  8. 8JR RailwaysTransport & Logistics・4 cos.14.1%Top: JR Central 41.4%, Kyushu Railway Company 14.8%, JR East 13.4%
  9. 9Theme Parks & Leisure FacilitiesEntertainment, Media & Leisure・12 cos.13.9%Top: Tokyotokeiba 36.9%, Oriental Land 23.9%, Nippon Ski Resort Development 21.5%
  10. 10Health TechIT, Telecom & Internet・18 cos.13.8%Top: eWeLL 45.3%, Findex 29.3%, Kanamic Network 29.2%
  11. 11PR & IR ServicesFinance & Business Services・11 cos.13.4%Top: PR Times 38.0%, WILLs 21.5%, IR Japan Holdings 20.9%
  12. 12Cashless PaymentsFinance & Business Services・12 cos.13.2%Top: GMO Payment Gateway 38.0%, Robot Payment 23.8%, GMO internet group 20.7%
  13. 13Software & SaaSIT, Telecom & Internet・145 cos.12.4%Top: Temairazu 72.4%, Obic 65.7%, Jenoba 56.6%
  14. 14Telecom CarriersIT, Telecom & Internet・11 cos.11.8%Top: Okinawa Cellular Telephone Company 21.6%, Meeq 18.1%, KDDI 18.1%
  15. 15Robots & Factory AutomationAutomotive & Machinery・34 cos.11.8%Top: Keyence 51.0%, SMC 22.6%, Riken Keiki 22.5%
  16. 16Oil, Gas & MiningResources, Energy & Materials・8 cos.11.5%Top: Inpex 56.5%, ISE Chemicals 24.2%, JX Advanced Metals 19.8%
  17. 17Medical DevicesElectronics・39 cos.11.1%Top: Kitazato 53.5%, Mizuho Medy 41.3%, TAUNS Laboratories 29.2%
  18. 18Glass & CeramicsResources, Energy & Materials・17 cos.10.9%Top: Maruwa 33.5%, Nitto Boseki 17.6%, SEC Carbon 16.0%
  19. 19PachinkoEntertainment, Media & Leisure・10 cos.10.7%Top: Sankyo 34.9%, Mars Group Holdings 27.2%, Gamecard Holdings 17.9%
  20. 20Air ConditioningElectronics・11 cos.10.7%Top: Kimura Kohki 25.6%, Daiwa 15.9%, Sinko Industries 15.9%
  21. 21Broadband & ISPsIT, Telecom & Internet・9 cos.10.7%Top: IPS 31.6%, Fibergate 13.5%, ASAHI Net 13.2%
  22. 22Hotels & InnsEntertainment, Media & Leisure・17 cos.10.7%Top: Abhotel 39.8%, Hanatour Japan 27.8%, Fujita Kanko 16.8%
  23. 23Real Estate Development & LeasingConstruction & Real Estate・86 cos.10.5%Top: Loadstar Capital 30.1%, Heiwa Real Estate 29.7%, JALCO Holdings 28.7%
  24. 24Private RailwaysTransport & Logistics・18 cos.10.3%Top: Tokyo Metro 21.2%, Keifuku Electric Railroad 16.3%, Nankai 15.1%
  25. 25StreamingEntertainment, Media & Leisure・7 cos.9.8%Top: Anycolor 36.2%, Cover 14.3%, jig.jp 13.5%
  26. 26Investment FundsFinance & Business Services・8 cos.9.8%Top: Integral 67.8%, Prored Partners 40.2%, Mercuria Holdings 34.9%
  27. 27Film & AnimeEntertainment, Media & Leisure・9 cos.9.7%Top: Toei Animation 33.1%, Toei Company 19.5%, Toho 18.8%
  28. 28ShipbuildingAutomotive & Machinery・9 cos.9.6%Top: Japan Engine 18.4%, Namura Shipbuilding 17.7%, Furuno Electric 11.6%
  29. 29ConsultingFinance & Business Services・44 cos.9.5%Top: Insource 41.2%, Reiwa Accounting Holdings 34.8%, Globe-ing 34.8%
  30. 30Non-life InsuranceFinance & Business Services・7 cos.9.3%Top: eGuarantee 47.2%, Solvvy 24.2%, Broad-Minded 11.8%
  31. 31Plant Engineering & Building ServicesConstruction & Real Estate・76 cos.9.1%Top: Nihon Dengi 25.5%, Japan Material 25.3%, Organo 21.2%
  32. 32Real Estate Brokerage & ManagementConstruction & Real Estate・26 cos.9.0%Top: Century 21 Real Estate of Japan 24.8%, CCReB Advisors 24.0%, Nippon Parking Development 20.8%
  33. 33IT Services & System IntegrationIT, Telecom & Internet・196 cos.8.9%Top: Arent 42.0%, Information Planning 40.0%, pluszero 33.4%
  34. 34Disaster Prevention & Infrastructure MaintenanceConstruction & Real Estate・40 cos.8.8%Top: SHO-BOND Holdings 23.4%, ERI Holdings 20.0%, Maeda Kosen 16.9%
  35. 35HR & StaffingFinance & Business Services・88 cos.8.6%Top: Movin' Strategic Career 46.4%, Wantedly 33.5%, ONE Career 28.1%
  36. 36Construction & Farm MachineryAutomotive & Machinery・16 cos.8.6%Top: Takeuchi MFG. 16.7%, Airman 12.9%, Aichi 12.6%
  37. 37AirlinesTransport & Logistics・3 cos.8.6%Top: Japan Airlines 10.3%, ANA 8.6%, Star Flyer 3.1%
  38. 38Amusement Centers & KaraokeEntertainment, Media & Leisure・7 cos.8.5%Top: Koshidaka Holdings 16.4%, Round ONE 15.2%, Daiichikosho 11.0%
  39. 39Electrical EquipmentAutomotive & Machinery・24 cos.8.4%Top: Sukegawa Electric 21.3%, Kawaden 15.5%, Nasu Denki-Tekko 13.3%
  40. 40Cement & ConcreteResources, Energy & Materials・16 cos.8.1%Top: mitanisekisanco. 17.6%, Yamau Holdings 16.7%, Vertex 15.2%
  41. 41Luxury BrandsHealthcare & Consumer Goods・3 cos.8.1%Top: Japan Airport Terminal 15.5%, Laxus Technologies 8.1%, Sekido -12.3%
  42. 42WeddingsConsumer & Public Services・9 cos.8.1%Top: IBJ 17.9%, Tsukada Global Holdings 13.1%, ON the Page 10.2%
  43. 43Condominium DevelopersConstruction & Real Estate・25 cos.8.1%Top: Goldcrest 29.3%, Es-Con Japan 19.0%, Eslead 15.8%
  44. 44Tires & RubberAutomotive & Machinery・14 cos.8.0%Top: Toyo Tire 16.4%, The Yokohama Rubber 12.4%, Nichirin 12.3%
  45. 45Internet Services & AppsIT, Telecom & Internet・51 cos.7.6%Top: Rakumachi 48.9%, Kakaku.com 28.9%, Jimoty 28.4%
  46. 46Industrial MachineryAutomotive & Machinery・122 cos.7.6%Top: Moriya Transportation Engineering and Manufacturing 25.7%, Nippon Gear 24.9%, Nissei ASB Machine 24.4%
  47. 47ChemicalsResources, Energy & Materials・100 cos.7.5%Top: MEC Company 27.4%, C.Uyemura & 23.2%, Keiwa 20.9%
  48. 48Toys & HobbiesHealthcare & Consumer Goods・11 cos.7.4%Top: Sanrio Company 40.1%, Bandai Namco 14.1%, SK Japan 11.5%
  49. 49Events & TicketingEntertainment, Media & Leisure・9 cos.7.4%Top: Boutiques 28.5%, W Tokyo 9.1%, tanseisha 7.8%
  50. 50EducationConsumer & Public Services・30 cos.7.4%Top: Reskill 36.2%, Step 23.9%, Gakkyusha 22.2%
  51. 51BatteriesElectronics・8 cos.7.2%Top: Nippon Kodoshi 19.0%, TDK 10.9%, GS Yuasa 9.9%
  52. 52Waste Management & RecyclingConsumer & Public Services・25 cos.7.2%Top: Midac Holdings 39.9%, Daiei Kankyo 25.3%, Daiseki 20.3%
  53. 53PharmaceuticalsHealthcare & Consumer Goods・22 cos.7.2%Top: Sumitomo Pharma 23.7%, Tsumura & 18.3%, Zeria Pharmceutical 13.9%
  54. 54Machine ToolsAutomotive & Machinery・34 cos.7.1%Top: Tsugami 28.0%, Union Tool 21.7%, Fanuc 21.4%
  55. 55LeasingFinance & Business Services・30 cos.7.1%Top: Japan Investment Adviser 48.7%, Kyushu Leasing Service 17.0%, D&M Company 16.8%
  56. 56DefenseConsumer & Public Services・5 cos.7.1%Top: Hosoya Pyro-Engineering 14.2%, Tokyo Keiki 8.8%, Ishikawa Seisakusho 7.1%
  57. 57Biotech & Regenerative MedicineHealthcare & Consumer Goods・6 cos.7.1%Top: PeptiDream 45.2%, Waqoo 7.7%, StemCell Institute 7.2%
  58. 58Electric Power & GasResources, Energy & Materials・44 cos.7.0%Top: Digital Grid 44.6%, grems 21.1%, Hikari Tsushin 15.9%
  59. 59ShippingTransport & Logistics・13 cos.7.0%Top: Tamai Steamship 12.8%, Iino Kaiun Kaisha 10.6%, NS United Kaiun Kaisha 8.9%
  60. 60CafésRetail, Trading & Restaurants・4 cos.6.9%Top: KOMEDA Holdings 16.5%, Towa Food Service 7.4%, DOUTOR NICHIRES Holdings. 6.4%
  61. 61General ContractorsConstruction & Real Estate・92 cos.6.9%Top: Upcon 30.3%, Meiho Facility Works 20.8%, Toyokoh 20.1%
  62. 62Security ServicesConsumer & Public Services・7 cos.6.8%Top: Secom 12.8%, Alsok 7.9%, Tosnetcorporation 7.2%
  63. 63Watches, Jewelry & EyewearHealthcare & Consumer Goods・20 cos.6.6%Top: Japan Eyewear Holdings 32.0%, NEW ART Holdings 15.3%, Tsutsumi Jewelry 14.9%
  64. 64Alcoholic BeveragesFood & Agriculture・7 cos.6.4%Top: Umenoyado Brewery 15.1%, orion breweries 14.5%, Kirin 8.6%
  65. 65Music & Live EntertainmentEntertainment, Media & Leisure・3 cos.6.3%Top: Space Shower Skiyaki Holdings 8.6%, NexTone 6.3%, Avex 2.8%
  66. 66Nursing CareConsumer & Public Services・21 cos.6.1%Top: Amvis Holdings 12.5%, Litalico 12.0%, Kowa 11.7%
  67. 67CosmeticsHealthcare & Consumer Goods・26 cos.6.1%Top: Lipps CO,. 21.5%, Cota 20.8%, noevir holdings 17.1%
  68. 68Paints & InksResources, Energy & Materials・23 cos.5.9%Top: Nippon Paint Holdings 14.5%, Soken Chemical & Engineering 12.9%, Chugoku Marine Paints 12.5%
  69. 69Cameras & OpticsElectronics・7 cos.5.9%Top: Tamron 19.6%, Ai Holdings 12.7%, Sigmakoki 10.3%
  70. 70Electronic ComponentsElectronics・56 cos.5.9%Top: Dexerials 33.5%, Kohoku Kogyo 26.5%, Nippon Ceramic 22.8%
  71. 71BicyclesAutomotive & Machinery・4 cos.5.8%Top: Shimano 11.1%, Daiwa Cycle 6.7%, Yamaha Motor 5.0%
  72. 72Broadcasting & NewspapersEntertainment, Media & Leisure・11 cos.5.8%Top: Nippon BS Broadcasting 16.4%, Townnews-Sha 14.9%, Nippon Television Holdings 14.3%
  73. 73Warehouses & Logistics FacilitiesTransport & Logistics・39 cos.5.8%Top: sugimura warehouse 12.6%, Kamigumi 12.4%, Maruzen Showa Unyu Co,. 10.4%
  74. 74Trucks & BusesAutomotive & Machinery・4 cos.5.8%Top: Kanematsu Engineering 9.5%, Isuzu 5.9%, ShinMaywa Industries 5.7%
  75. 75Car AccessoriesAutomotive & Machinery・15 cos.5.8%Top: KeePer Technical Laboratory 26.6%, Central Automotive Products 24.4%, SOFT99corporation 13.6%
  76. 76Printers & Office EquipmentElectronics・11 cos.5.7%Top: Amano 12.8%, Mimaki Engineering 11.3%, Brother Industries 8.7%
  77. 77Home AppliancesElectronics・10 cos.5.7%Top: Nihon Trim. 12.2%, ENDO Lighting 10.4%, Dainichi 9.0%
  78. 78AdvertisingEntertainment, Media & Leisure・86 cos.5.6%Top: Feedforce Group 40.3%, Hit 27.8%, FAN Communications 27.7%
  79. 79FuneralsConsumer & Public Services・6 cos.5.6%Top: A-tie 24.3%, 株式会社サン・ライフホールディング 7.8%, Tear 7.6%
  80. 80Sporting Goods & FitnessEntertainment, Media & Leisure・20 cos.5.6%Top: Tosho 27.1%, Fit-Easy 23.8%, Goldwin 18.8%
  81. 81Non-ferrous Metals & WiresResources, Energy & Materials・26 cos.5.6%Top: Furuya Metal 16.6%, Fujikura 16.0%, Nihon Seiko 14.9%
  82. 82Fast Food & Quick ServiceRetail, Trading & Restaurants・22 cos.5.5%Top: McDonald's Holdings Company(Japan) 12.8%, Maruchiyo Yamaokaya 10.9%, Hiday Hidaka 10.6%
  83. 83CRO & Clinical TestingHealthcare & Consumer Goods・13 cos.5.5%Top: WDB coco 19.9%, Human Metabolome Technologies 14.8%, Shin Nippon Biomedical Laboratories 8.2%
  84. 84Publishing & BookstoresEntertainment, Media & Leisure・19 cos.5.4%Top: OVERLAP Holdings 35.5%, Starts Publishing 21.6%, AlphaPolis. 20.8%
  85. 85HomebuildersConstruction & Real Estate・26 cos.5.4%Top: Freesia Macross 18.7%, Katitas 12.0%, Open House Group 10.9%
  86. 86GamesEntertainment, Media & Leisure・41 cos.5.4%Top: Nihon Falcom 51.3%, Koei Tecmo Holdings 42.0%, Capcom 38.5%
  87. 87Food PackagingFood & Agriculture・15 cos.5.4%Top: Fuji Seal International 9.4%, FP 9.0%, Taisei Lamick Group Head Quarter & Innovation 7.4%
  88. 88Department StoresRetail, Trading & Restaurants・7 cos.5.4%Top: Isetan Mitsukoshi Holdings 14.7%, J.front Retailing 11.0%, Matsuya 5.8%
  89. 89Smartphones & Communications EquipmentElectronics・12 cos.5.3%Top: santec Holdings 32.8%, Seikoh Giken 25.7%, Anritsu 12.6%
  90. 90Food IngredientsFood & Agriculture・24 cos.5.3%Top: Taiyokagaku 13.5%, Fuji Nihon 12.5%, Nitta Gelatin 12.3%
  91. 91Cloud & Data CentersIT, Telecom & Internet・5 cos.5.3%Top: GMO Pepabo 8.5%, Link-U Group 6.8%, BroadBand Tower 5.3%
  92. 92TVs, Audio & Musical InstrumentsElectronics・12 cos.5.0%Top: Noritsu Koki 17.5%, Roland 9.3%, TOA 8.4%
  93. 93E-commerceIT, Telecom & Internet・34 cos.4.9%Top: M-mart 46.4%, ZOZO 30.4%, Raccoon Holdings 20.1%
  94. 94Agriculture & SeedsFood & Agriculture・4 cos.4.9%Top: Sakata Seed 12.6%, Hokuto 8.2%, HOB 1.6%
  95. 95Beauty SalonsConsumer & Public Services・6 cos.4.8%Top: AB&Company 8.4%, Artnature 7.2%, QB Net Holdings 5.5%
  96. 96Trucking & Parcel DeliveryTransport & Logistics・22 cos.4.8%Top: NANSO Transport 12.2%, Sakai Moving Service 10.1%, NIKKON Holdings 8.8%
  97. 97Auto PartsAutomotive & Machinery・111 cos.4.8%Top: Niterra 18.9%, Suncall 13.6%, Nifco 13.6%
  98. 98Catalog & TV ShoppingRetail, Trading & Restaurants・10 cos.4.6%Top: Ai ROBOTICS 13.0%, MTG 10.8%, Belluna 7.6%
  99. 99Stationery & Office SuppliesHealthcare & Consumer Goods・16 cos.4.6%Top: Pilot 13.2%, Mitsubishi Pencil 10.8%, AuBEX 10.2%
  100. 100Toiletries & Household ProductsHealthcare & Consumer Goods・9 cos.4.5%Top: Kao 9.7%, Kobayashi Pharmaceutical 9.0%, Lion 8.6%
  101. 101Housing Equipment & Building MaterialsConstruction & Real Estate・58 cos.4.5%Top: Mirai Industry 14.7%, Sanwa Holdings 12.0%, Kaneso 11.1%
  102. 102Beverages & DairyFood & Agriculture・20 cos.4.4%Top: Premium Water Holdings 15.7%, Wel-Dish. 10.2%, Lifedrink Company 10.1%
  103. 103Home & Lifestyle ServicesConsumer & Public Services・10 cos.4.4%Top: Arealink 20.7%, Studio Alice 6.4%, Asante 5.8%
  104. 104Drugstores & PharmaciesRetail, Trading & Restaurants・19 cos.4.3%Top: MatsukiyoCocokara & Co 7.6%, Hyuga Primary Care 6.8%, Sundrug 5.6%
  105. 105Furniture, Interior & Lifestyle GoodsRetail, Trading & Restaurants・18 cos.4.3%Top: Transaction 20.8%, Wagokoro 20.4%, Nitori 13.8%
  106. 106Processed FoodsFood & Agriculture・60 cos.4.0%Top: Kotobuki Spirits 23.6%, Ariake Japan 17.6%, Toyo Suisan Kaisha 16.0%
  107. 107ChildcareConsumer & Public Services・12 cos.4.0%Top: Jp-Holdings 15.1%, AIAI Group 7.6%, QLS Holdings 7.3%
  108. 108Restaurants & PubsRetail, Trading & Restaurants・66 cos.3.9%Top: Yossix Holdings 11.6%, Totenko 10.7%, Bronco Billy 9.7%
  109. 109Business Process OutsourcingFinance & Business Services・21 cos.3.9%Top: Relo Group 20.4%, E-Guardian 13.3%, ブリッジインターナショナルグループ株式会社 10.2%
  110. 110Hospitals & Medical ServicesConsumer & Public Services・8 cos.3.7%Top: CUC 10.6%, Elan 7.7%, Tokai 5.9%
  111. 111PCs & PeripheralsElectronics・14 cos.3.7%Top: Gdep Advance 16.1%, Elecom 11.7%, HPC Systems 9.0%
  112. 112Paper & PulpResources, Energy & Materials・17 cos.3.7%Top: Okayama Paper Industries 8.4%, THE Pack 7.0%, Showa Paxxs 6.9%
  113. 113SteelResources, Energy & Materials・35 cos.3.5%Top: Tokyo Tekko 16.6%, Maruichi Steel Tube 13.1%, Mory Industries 10.1%
  114. 114PrintingEntertainment, Media & Leisure・28 cos.3.4%Top: KOSAIDO Holdings 18.6%, B&P 15.6%, Crestec 7.3%
  115. 115Textiles & FibersResources, Energy & Materials・16 cos.3.4%Top: Ichikawa 10.6%, Omikenshi 6.9%, Komatsu Matere 6.0%
  116. 116Electronics RetailersRetail, Trading & Restaurants・14 cos.3.4%Top: Kyoritsu Computer & Communication 9.2%, SAKAI Holdings 8.6%, Nojima 5.9%
  117. 117Secondhand RetailRetail, Trading & Restaurants・20 cos.3.3%Top: Aucnet 14.8%, Mandarake 11.8%, Treasure Factory 9.8%
  118. 118SemiconductorsElectronics・14 cos.3.3%Top: Kioxia Holdings 37.2%, Tera Probe 21.3%, Renesas 15.2%
  119. 119FisheriesFood & Agriculture・11 cos.3.3%Top: Okamura Foods 9.1%, STI Foods Holdings 6.6%, Nichirei 5.4%
  120. 120Home CentersRetail, Trading & Restaurants・10 cos.3.2%Top: Joyful Honda 6.6%, Komeri 6.2%, DCM Holdings 5.8%
  121. 121Takeout & Delivery MealsRetail, Trading & Restaurants・16 cos.3.2%Top: Silver Life 5.7%, Watami 5.2%, Fundely 5.0%
  122. 122Car Dealers & Used CarsAutomotive & Machinery・22 cos.3.2%Top: USS 52.6%, Auto Server 36.9%, Truck-One 7.0%
  123. 123ApparelRetail, Trading & Restaurants・61 cos.3.0%Top: Human Made 31.7%, Workman 24.9%, Nagaileben 21.1%
  124. 124Livestock, Feed & FertilizerFood & Agriculture・6 cos.3.0%Top: Hokuryo 21.5%, Nichiwa Sangyo 3.2%, Chubushiryo 3.1%
  125. 125Specialty Trading & WholesaleRetail, Trading & Restaurants・185 cos.2.9%Top: Nissan Chemical 22.7%, KOA Shoji Holdings 22.2%, Yagami 19.4%
  126. 126SupermarketsRetail, Trading & Restaurants・49 cos.2.8%Top: Sotetsu Holdings 12.6%, TAKAYOSHI Holdings 11.8%, Keio 10.5%
  127. 127Travel AgenciesEntertainment, Media & Leisure・11 cos.2.4%Top: Booking Resort 29.6%, Iace Travel 25.0%, AirTrip 11.0%
  128. 128Oil Refining & FuelsResources, Energy & Materials・13 cos.2.4%Top: BP Castrol 10.6%, Nippon Seiro 5.9%, Cosmo Energy Holdings 5.4%
  129. 129Meat ProcessingFood & Agriculture・11 cos.2.2%Top: Axyz 13.4%, Kakiyasu Honten 4.0%, OM2 Network 3.7%
  130. 130Shoes & BagsHealthcare & Consumer Goods・9 cos.1.9%Top: Abc-Mart 16.7%, Sac's BAR Holdings 6.2%, Studio Atao 5.8%
  131. 131AutomobilesAutomotive & Machinery・8 cos.1.8%Top: Suzuki 9.9%, Toyota 7.4%, Nissan Shatai 3.5%
  132. 132Outdoor & Sporting Goods StoresRetail, Trading & Restaurants・3 cos.0.9%Top: Alpen 3.0%, Xebio Holdings 0.9%, Himaraya 0.5%
  133. 133AerospaceAutomotive & Machinery・11 cos.-21.9%Top: SKY Perfect JSAT 27.6%, Nippon Avionics 18.9%, AeroEdge 18.2%