Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
Is the operating margin high or low?
The operating margin of 48.35% is in line with its 5-year average of 49.20%, near the low end of its 5-year range (46.10%–60.70%).
0.70% above its 12-month average of 48.01%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
48.35%
OPERATING MARGIN AVG TTM
48.01%
OPERATING MARGIN AVG 3Y
47.53%
OPERATING MARGIN AVG 5Y
49.20%
OPERATING MARGIN AVG 10Y
51.35%
OPERATING MARGIN AVG 15Y
52.71%
OPERATING MARGIN AVG 20Y
54.67%
CURRENT VS TTM AVG
+0.70%
CURRENT VS 3Y AVG
+1.72%
CURRENT VS 5Y AVG
-1.72%
CURRENT VS 10Y AVG
-5.85%
CURRENT VS 15Y AVG
-8.27%
CURRENT VS 20Y AVG
-11.55%
SECTOR MEDIAN · REAL ESTATE
29.19%
median of 41 covered companies
CURRENT VS SECTOR MEDIAN
+65.64%
vs the sector median at left
Agree Realty Corporation
Market Cap
$8.81B
Operating Margin
48.35%
TTM Avg
48.01%
3Y Avg
47.53%
5Y Avg
49.20%
Market Cap
$8.84B
Operating Margin
-45.72%
TTM Avg
-7.62%
3Y Avg
8.22%
5Y Avg
20.35%
Market Cap
$8.19B
Operating Margin
41.59%
TTM Avg
41.50%
3Y Avg
40.62%
5Y Avg
40.74%
Market Cap
$10.13B
Operating Margin
34.49%
TTM Avg
37.61%
3Y Avg
40.03%
5Y Avg
39.38%
Market Cap
$7.03B
Operating Margin
41.42%
TTM Avg
39.54%
3Y Avg
40.06%
5Y Avg
43.51%
Market Cap
$10.59B
Operating Margin
17.82%
TTM Avg
18.80%
3Y Avg
19.25%
5Y Avg
19.49%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Agree Realty Corporation (ADC) | $8.81B | 48.35% | 48.01% | 47.53% | 49.20% |
| Alexandria Real Estate Equities, Inc. (ARE)vs › | $8.84B | -45.72% | -7.62% | 8.22% | 20.35% |
| CubeSmart (CUBE)vs › | $8.98B | 39.85% | 42.64% | 41.85% | 43.95% |
| NNN REIT, Inc. (NNN)vs › | $8.47B | 62.03% | 64.00% | 64.37% | 62.66% |
| First Industrial Realty Trust, Inc. (FR)vs › | $8.19B | 41.59% | 41.50% | 40.62% | 40.74% |
| Federal Realty Investment Trust (FRT)vs › | $10.13B | 34.49% | 37.61% | 40.03% | 39.38% |
| BXP, Inc. (BXP)vs › | $10.55B | 55.71% | 42.85% | 37.89% | 36.34% |
| Terreno Realty Corporation (TRNO)vs › | $7.03B | 41.42% | 39.54% | 40.06% | 43.51% |
| Camden Property Trust (CPT)vs › | $10.59B | 17.82% | 18.80% | 19.25% | 19.49% |
| UDR, Inc. (UDR)vs › | $11.61B | 18.83% | 17.92% | 22.85% | 22.04% |
Gross Margin
87.7%
Operating Margin
48.4%
Operating Margin = Operating Income / Revenue
Operating margin is the percentage of revenue remaining after operating expenses, reflecting operating efficiency.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | OPERATING MARGIN |
|---|---|
| 2026-06-30 | 48.12% |
| 2026-03-31 | 49.08% |
| 2025-12-31 | 48.52% |
| 2025-09-30 | 47.63% |
| 2025-06-30 | 46.72% |
| 2025-03-31 | 46.52% |
| 2024-12-31 | 46.87% |
| 2024-09-30 | 48.24% |
| 2024-06-30 | 53.72% |
| 2024-03-31 | 47.17% |
| 2023-12-31 | 47.98% |
| 2023-09-30 | 46.10% |
| 2023-06-30 | 47.44% |
| 2023-03-31 | 47.79% |
| 2022-12-31 | 49.34% |
| 2022-09-30 | 52.07% |
| 2022-06-30 | 49.91% |
| 2022-03-31 | 51.80% |
| 2021-12-31 | 51.46% |
| 2021-09-30 | 57.45% |
| 2021-06-30 | 60.70% |
| 2021-03-31 | 55.17% |
| 2020-12-31 | 50.15% |
| 2020-09-30 | 49.96% |
| 2020-06-30 | 50.73% |
| 2020-03-31 | 53.13% |
| 2019-12-31 | 54.61% |
| 2019-09-30 | 55.58% |
| 2019-06-30 | 52.14% |
| 2019-03-31 | 53.08% |
| 2018-12-31 | 41.31% |
| 2018-09-30 | 54.33% |
| 2018-06-30 | 50.68% |
| 2018-03-31 | 54.59% |
| 2017-12-31 | 54.24% |
| 2017-09-30 | 54.05% |
| 2017-06-30 | 54.17% |
| 2017-03-31 | 53.79% |
| 2016-12-31 | 57.25% |
| 2016-09-30 | 58.71% |
| 2016-06-30 | 53.14% |
| 2016-03-31 | 55.55% |
| 2015-12-31 | 61.99% |
| 2015-09-30 | 54.80% |
| 2015-06-30 | 57.74% |
| 2015-03-31 | 57.52% |
| 2014-12-31 | 58.90% |
| 2014-09-30 | 55.95% |
| 2014-06-30 | 35.57% |
| 2014-03-31 | 56.99% |
| 2013-12-31 | 66.87% |
| 2013-09-30 | 58.05% |
| 2013-06-30 | 55.66% |
| 2013-03-31 | 57.39% |
| 2012-12-31 | 56.10% |
| 2012-09-30 | 59.62% |
| 2012-06-30 | 53.72% |
| 2012-03-31 | 53.79% |
| 2011-12-31 | 568.19% |
| 2011-09-30 | 45.56% |
| 2011-06-30 | 52.45% |
| 2011-03-31 | 55.57% |
| 2010-12-31 | -35.60% |
| 2010-09-30 | 59.85% |
| 2010-06-30 | 59.53% |
| 2010-03-31 | 60.15% |
| 2009-12-31 | 61.10% |
| 2009-09-30 | 60.78% |
| 2009-06-30 | 61.46% |
| 2009-03-31 | 58.09% |
| 2008-12-31 | 59.81% |
| 2008-09-30 | 61.57% |
| 2008-06-30 | 60.65% |
| 2008-03-31 | 58.72% |
| 2007-12-31 | 57.84% |
| 2007-09-30 | 61.63% |
| 2007-06-30 | 60.49% |
| 2007-03-31 | 60.20% |
| 2006-12-31 | 62.47% |
| 2006-09-30 | 59.91% |
| 2006-06-30 | 60.04% |
| 2006-03-31 | 58.46% |
| 2005-12-31 | 53.05% |
| 2005-09-30 | 60.23% |
| 2005-06-30 | 60.10% |
| 2005-03-31 | 57.63% |
| 2004-12-31 | 60.29% |
| 2004-09-30 | 63.29% |
| 2004-06-30 | 61.15% |
| 2004-03-31 | 57.99% |
| 2003-12-31 | 63.10% |
| 2003-09-30 | 60.07% |
| 2003-06-30 | 61.26% |
| 2003-03-31 | 57.87% |
| 2002-12-31 | 62.07% |
| 2002-09-30 | 64.43% |
