Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
Is the gross margin high or low?
The gross margin of 87.73% is in line with its 5-year average of 87.82%, near the high end of its 5-year range (19.97%–88.52%).
18.38% above its 12-month average of 74.11%.
Reported quarterly gross margin; no daily interpolation. Quarter ended Jun 2026 (2026-06-30): 19.97%.
GROSS MARGIN
87.73%
GROSS MARGIN AVG TTM
74.11%
GROSS MARGIN AVG 3Y
87.79%
GROSS MARGIN AVG 5Y
87.82%
GROSS MARGIN AVG 10Y
87.83%
GROSS MARGIN AVG 15Y
88.74%
GROSS MARGIN AVG 20Y
88.75%
CURRENT VS TTM AVG
+18.38%
CURRENT VS 3Y AVG
-0.07%
CURRENT VS 5Y AVG
-0.11%
CURRENT VS 10Y AVG
-0.12%
CURRENT VS 15Y AVG
-1.14%
CURRENT VS 20Y AVG
-1.15%
SECTOR MEDIAN · REAL ESTATE
38.41%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
+128.40%
vs the sector median at left
Agree Realty Corporation
Market Cap
$8.72B
Gross Margin
87.73%
TTM Avg
74.11%
3Y Avg
87.79%
5Y Avg
87.82%
Market Cap
$8.77B
Gross Margin
69.46%
TTM Avg
69.56%
3Y Avg
69.63%
5Y Avg
70.15%
Market Cap
$8.08B
Gross Margin
22.60%
TTM Avg
47.65%
3Y Avg
60.43%
5Y Avg
64.59%
Market Cap
$9.95B
Gross Margin
9.73%
TTM Avg
38.58%
3Y Avg
52.97%
5Y Avg
57.31%
Market Cap
$10.47B
Gross Margin
61.41%
TTM Avg
61.30%
3Y Avg
61.88%
5Y Avg
61.30%
Market Cap
$6.93B
Gross Margin
75.84%
TTM Avg
75.10%
3Y Avg
75.20%
5Y Avg
74.87%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Agree Realty Corporation (ADC) | $8.72B | 87.73% | 74.11% | 87.79% | 87.82% |
| Alexandria Real Estate Equities, Inc. (ARE)vs › | $8.77B | 69.46% | 69.56% | 69.63% | 70.15% |
| CubeSmart (CUBE)vs › | $8.81B | 17.42% | 46.47% | 58.95% | 62.46% |
| NNN REIT, Inc. (NNN)vs › | $8.40B | 38.00% | 67.14% | 81.86% | 86.54% |
| First Industrial Realty Trust, Inc. (FR)vs › | $8.08B | 22.60% | 47.65% | 60.43% | 64.59% |
| Federal Realty Investment Trust (FRT)vs › | $9.95B | 9.73% | 38.58% | 52.97% | 57.31% |
| BXP, Inc. (BXP)vs › | $10.25B | 60.56% | 60.88% | 62.02% | 62.51% |
| Camden Property Trust (CPT)vs › | $10.47B | 61.41% | 61.30% | 61.88% | 61.30% |
| Terreno Realty Corporation (TRNO)vs › | $6.93B | 75.84% | 75.10% | 75.20% | 74.87% |
| UDR, Inc. (UDR)vs › | $11.37B | 25.59% | 25.27% | 24.12% | 21.91% |
Gross Margin
87.7%
(Revenue - COGS) / Revenue
Gross Margin = Gross Profit / Revenue
Gross margin is the percentage of revenue remaining after the cost of goods sold, reflecting core product profitability.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | GROSS MARGIN |
|---|---|
| 2026-06-30 | 19.97% |
| 2026-03-31 | 87.60% |
| 2025-12-31 | 87.40% |
| 2025-09-30 | 88.01% |
| 2025-06-30 | 87.58% |
| 2025-03-31 | 87.95% |
| 2024-12-31 | 87.33% |
| 2024-09-30 | 88.10% |
| 2024-06-30 | 88.45% |
| 2024-03-31 | 87.63% |
| 2023-12-31 | 87.57% |
| 2023-09-30 | 88.27% |
| 2023-06-30 | 87.60% |
| 2023-03-31 | 86.85% |
| 2022-12-31 | 88.52% |
| 2022-09-30 | 87.75% |
| 2022-06-30 | 87.67% |
| 2022-03-31 | 87.30% |
| 2021-12-31 | 87.78% |
| 2021-09-30 | 87.95% |
| 2021-06-30 | 88.18% |
| 2021-03-31 | 87.69% |
| 2020-12-31 | 86.82% |
| 2020-09-30 | 87.54% |
| 2020-06-30 | 87.79% |
| 2020-03-31 | 86.80% |
| 2019-12-31 | 87.07% |
| 2019-09-30 | 88.30% |
| 2019-06-30 | 87.56% |
| 2019-03-31 | 86.88% |
| 2018-12-31 | 89.70% |
| 2018-09-30 | 88.33% |
| 2018-06-30 | 87.83% |
| 2018-03-31 | 87.45% |
| 2017-12-31 | 89.38% |
| 2017-09-30 | 89.33% |
| 2017-06-30 | 89.33% |
| 2017-03-31 | 89.58% |
| 2016-12-31 | 90.51% |
| 2016-09-30 | 92.53% |
| 2016-06-30 | 88.42% |
| 2016-03-31 | 90.81% |
| 2015-12-31 | 88.60% |
| 2015-09-30 | 92.64% |
| 2015-06-30 | 91.77% |
| 2015-03-31 | 90.69% |
| 2014-12-31 | 92.52% |
| 2014-09-30 | 91.01% |
| 2014-06-30 | 89.88% |
| 2014-03-31 | 89.64% |
| 2013-12-31 | 93.83% |
| 2013-09-30 | 90.88% |
| 2013-06-30 | 91.71% |
| 2013-03-31 | 91.38% |
| 2012-12-31 | 84.92% |
| 2012-09-30 | 91.79% |
| 2012-06-30 | 89.63% |
| 2012-03-31 | 88.17% |
| 2011-12-31 | 46.25% |
| 2011-09-30 | 89.86% |
| 2011-06-30 | 86.90% |
| 2011-03-31 | 95.43% |
| 2010-12-31 | 84.37% |
| 2010-09-30 | 89.23% |
| 2010-06-30 | 89.33% |
| 2010-03-31 | 89.06% |
| 2009-12-31 | 74.98% |
| 2009-09-30 | 90.32% |
| 2009-06-30 | 93.83% |
| 2009-03-31 | 89.66% |
| 2008-12-31 | 0.00% |
| 2008-09-30 | 100.00% |
| 2008-06-30 | 90.78% |
| 2008-03-31 | 87.91% |
| 2007-12-31 | 0.00% |
| 2007-09-30 | 0.00% |
| 2007-06-30 | 0.00% |
| 2007-03-31 | 0.00% |
| 2006-12-31 | 0.00% |
| 2006-09-30 | 0.00% |
| 2006-06-30 | 0.00% |
| 2006-03-31 | 0.00% |
| 2005-12-31 | 0.00% |
| 2005-09-30 | 0.00% |
| 2005-06-30 | 0.00% |
| 2005-03-31 | 0.00% |
| 2004-12-31 | 0.00% |
| 2004-09-30 | 0.00% |
| 2004-06-30 | 0.00% |
| 2004-03-31 | 0.00% |
| 2003-12-31 | 0.00% |
| 2003-09-30 | 0.00% |
| 2003-06-30 | 0.00% |
| 2003-03-31 | 0.00% |
| 2002-12-31 | 0.00% |
| 2002-09-30 | 0.00% |
