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 44.40% is 24% above its 5-year average of 35.88%, near the high end of its 5-year range (7.10%–48.93%).
0.54% below its 12-month average of 44.64%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
44.40%
OPERATING MARGIN AVG TTM
44.64%
OPERATING MARGIN AVG 3Y
44.76%
OPERATING MARGIN AVG 5Y
35.88%
OPERATING MARGIN AVG 10Y
34.70%
OPERATING MARGIN AVG 15Y
35.85%
OPERATING MARGIN AVG 20Y
35.35%
CURRENT VS TTM AVG
-0.54%
CURRENT VS 3Y AVG
-0.81%
CURRENT VS 5Y AVG
+23.75%
CURRENT VS 10Y AVG
+27.97%
CURRENT VS 15Y AVG
+23.83%
CURRENT VS 20Y AVG
+25.61%
SECTOR MEDIAN · REAL ESTATE
29.19%
median of 41 covered companies
CURRENT VS SECTOR MEDIAN
+52.11%
vs the sector median at left
American Tower Corporation
Market Cap
$82.15B
Operating Margin
44.40%
TTM Avg
44.64%
3Y Avg
44.76%
5Y Avg
35.88%
Market Cap
$70.32B
Operating Margin
17.87%
TTM Avg
9.63%
3Y Avg
10.35%
5Y Avg
11.89%
Market Cap
$68.76B
Operating Margin
48.12%
TTM Avg
50.88%
3Y Avg
50.05%
5Y Avg
48.36%
Market Cap
$103.20B
Operating Margin
21.76%
TTM Avg
17.57%
3Y Avg
17.32%
5Y Avg
17.25%
Market Cap
$56.98B
Operating Margin
29.19%
TTM Avg
36.16%
3Y Avg
38.42%
5Y Avg
41.26%
Market Cap
$129.44B
Operating Margin
38.43%
TTM Avg
47.03%
3Y Avg
49.58%
5Y Avg
52.24%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| American Tower Corporation (AMT) | $82.15B | 44.40% | 44.64% | 44.76% | 35.88% |
| Digital Realty Trust, Inc. (DLR)vs › | $70.32B | 17.87% | 9.63% | 10.35% | 11.89% |
| Simon Property Group, Inc. (SPG)vs › | $68.76B | 48.12% | 50.88% | 50.05% | 48.36% |
| Equinix, Inc. (EQIX)vs › | $103.20B | 21.76% | 17.57% | 17.32% | 17.25% |
| Realty Income Corporation (O)vs › | $56.98B | 29.19% | 36.16% | 38.42% | 41.26% |
| Public Storage (PSA)vs › | $56.42B | 48.30% | 46.80% | 49.20% | 49.19% |
| Ventas, Inc. (VTR)vs › | $43.94B | 12.94% | 14.00% | 12.24% | 12.59% |
| CBRE Group, Inc. (CBRE)vs › | $41.56B | 3.61% | 3.57% | 3.89% | 4.25% |
| Prologis, Inc. (PLD)vs › | $129.44B | 38.43% | 47.03% | 49.58% | 52.24% |
| Iron Mountain Incorporated (IRM)vs › | $34.85B | 18.76% | 18.39% | 18.54% | 19.29% |
Gross Margin
73.2%
Operating Margin
44.4%
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 | 46.15% |
| 2026-03-31 | 42.40% |
| 2025-12-31 | 42.39% |
| 2025-09-30 | 46.67% |
| 2025-06-30 | 45.59% |
| 2025-03-31 | 48.93% |
| 2024-12-31 | 42.40% |
| 2024-09-30 | 45.17% |
| 2024-06-30 | 44.28% |
| 2024-03-31 | 43.63% |
| 2023-12-31 | 25.73% |
| 2023-09-30 | 36.21% |
| 2023-06-30 | 31.52% |
| 2023-03-31 | 28.03% |
| 2022-12-31 | 7.10% |
| 2022-09-30 | 24.44% |
| 2022-06-30 | 29.25% |
| 2022-03-31 | 27.26% |
| 2021-12-31 | 25.63% |
| 2021-09-30 | 33.72% |
| 2021-06-30 | 36.94% |
| 2021-03-31 | 38.39% |
| 2020-12-31 | 31.77% |
| 2020-09-30 | 39.00% |
| 2020-06-30 | 36.14% |
| 2020-03-31 | 36.97% |
| 2019-12-31 | 34.38% |
| 2019-09-30 | 37.28% |
| 2019-06-30 | 36.19% |
| 2019-03-31 | 33.91% |
| 2018-12-31 | 18.24% |
| 2018-09-30 | 31.77% |
| 2018-06-30 | 30.66% |
| 2018-03-31 | 23.13% |
| 2017-12-31 | 19.30% |
| 2017-09-30 | 33.39% |
| 2017-06-30 | 34.70% |
| 2017-03-31 | 32.88% |
| 2016-12-31 | 31.78% |
| 2016-09-30 | 31.63% |
| 2016-06-30 | 30.01% |
| 2016-03-31 | 35.05% |
| 2015-12-31 | 31.41% |
| 2015-09-30 | 32.39% |
| 2015-06-30 | 33.19% |
| 2015-03-31 | 38.91% |
| 2014-12-31 | 33.07% |
| 2014-09-30 | 37.07% |
| 2014-06-30 | 39.02% |
| 2014-03-31 | 35.94% |
| 2013-12-31 | 31.10% |
| 2013-09-30 | 38.23% |
| 2013-06-30 | 38.67% |
| 2013-03-31 | 37.33% |
| 2012-12-31 | 36.34% |
| 2012-09-30 | 41.43% |
| 2012-06-30 | 38.77% |
| 2012-03-31 | 39.40% |
| 2011-12-31 | 37.93% |
| 2011-09-30 | 36.22% |
| 2011-06-30 | 37.81% |
| 2011-03-31 | 38.80% |
| 2010-12-31 | 37.15% |
| 2010-09-30 | 41.57% |
| 2010-06-30 | 40.16% |
| 2010-03-31 | 39.36% |
| 2009-12-31 | 39.39% |
| 2009-09-30 | 40.32% |
| 2009-06-30 | 39.32% |
| 2009-03-31 | 36.77% |
| 2008-12-31 | 40.15% |
| 2008-09-30 | 37.72% |
| 2008-06-30 | 39.31% |
| 2008-03-31 | 37.90% |
| 2007-12-31 | 26.57% |
| 2007-09-30 | 26.79% |
| 2007-06-30 | 26.03% |
| 2007-03-31 | 24.43% |
| 2006-12-31 | 22.50% |
| 2006-09-30 | 21.59% |
| 2006-06-30 | 21.72% |
| 2006-03-31 | 21.55% |
| 2005-12-31 | 21.06% |
| 2005-09-30 | 17.18% |
| 2005-06-30 | 17.36% |
| 2005-03-31 | 16.41% |
| 2004-12-31 | 3.16% |
| 2004-09-30 | 12.37% |
| 2004-06-30 | 10.00% |
| 2004-03-31 | 11.69% |
| 2003-12-31 | 6.49% |
| 2003-09-30 | 6.43% |
| 2003-06-30 | 2.15% |
| 2003-03-31 | 0.93% |
| 2002-12-31 | 2134.57% |
| 2002-09-30 | -107.17% |
