Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the operating margin high or low?
The operating margin of 27.23% is in line with its 5-year average of 30.08%, near the low end of its 5-year range (25.59%–32.97%).
As of the fiscal period ended Tuesday, June 30, 2026. 5.35% below its 12-month average of 28.77%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
27.23%
OPERATING MARGIN AVG TTM
28.77%
OPERATING MARGIN AVG 3Y
30.66%
OPERATING MARGIN AVG 5Y
30.08%
OPERATING MARGIN AVG 10Y
32.45%
OPERATING MARGIN AVG 15Y
33.44%
OPERATING MARGIN AVG 20Y
33.42%
CURRENT VS TTM AVG
-5.35%
CURRENT VS 3Y AVG
-11.18%
CURRENT VS 5Y AVG
-9.48%
CURRENT VS 10Y AVG
-16.09%
CURRENT VS 15Y AVG
-18.58%
CURRENT VS 20Y AVG
-18.51%
SECTOR MEDIAN · REAL ESTATE
28.86%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
-5.64%
vs the sector median at left
AvalonBay Communities, Inc.
Market Cap
$26.47B
Operating Margin
27.23%
TTM Avg
28.77%
3Y Avg
30.66%
5Y Avg
30.08%
Market Cap
$25.02B
Operating Margin
36.33%
TTM Avg
48.77%
3Y Avg
55.23%
5Y Avg
56.70%
Market Cap
$29.08B
Operating Margin
91.05%
TTM Avg
91.57%
3Y Avg
84.63%
5Y Avg
84.79%
Market Cap
$31.36B
Operating Margin
43.37%
TTM Avg
41.87%
3Y Avg
45.48%
5Y Avg
48.48%
Market Cap
$33.32B
Operating Margin
47.74%
TTM Avg
2.01%
3Y Avg
18.16%
5Y Avg
22.69%
Market Cap
$19.23B
Operating Margin
47.63%
TTM Avg
51.13%
3Y Avg
42.86%
5Y Avg
39.29%
Market Cap
$18.36B
Operating Margin
43.88%
TTM Avg
41.75%
3Y Avg
38.88%
5Y Avg
37.53%
Market Cap
$17.87B
Operating Margin
8.38%
TTM Avg
8.18%
3Y Avg
15.51%
5Y Avg
20.07%
Market Cap
$17.69B
Operating Margin
27.15%
TTM Avg
27.73%
3Y Avg
28.33%
5Y Avg
27.77%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| AvalonBay Communities, Inc. (AVB) | $26.47B | 27.23% | 28.77% | 30.66% | 30.08% |
| Equity Residential (EQR)vs › | $25.02B | 36.33% | 48.77% | 55.23% | 56.70% |
| VICI Properties Inc. (VICI)vs › | $29.08B | 91.05% | 91.57% | 84.63% | 84.79% |
| Extra Space Storage Inc. (EXR)vs › | $31.36B | 43.37% | 41.87% | 45.48% | 48.48% |
| Crown Castle Inc. (CCI)vs › | $33.32B | 47.74% | 2.01% | 18.16% | 22.69% |
| SBA Communications Corporation (SBAC)vs › | $19.23B | 47.63% | 51.13% | 42.86% | 39.29% |
| Essex Property Trust, Inc. (ESS)vs › | $18.36B | 43.88% | 41.75% | 38.88% | 37.53% |
| Weyerhaeuser Company (WY)vs › | $17.87B | 8.38% | 8.18% | 15.51% | 20.07% |
| Invitation Homes Inc. (INVH)vs › | $17.69B | 27.15% | 27.73% | 28.33% | 27.77% |
| Host Hotels & Resorts, Inc. (HST)vs › | $17.26B | 14.31% | 14.49% | 15.09% | -1.19% |
Gross Margin
67.0%
Operating Margin
27.2%
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 | 27.23% |
| 2026-03-31 | 28.37% |
| 2025-12-31 | 29.71% |
| 2025-09-30 | 28.49% |
| 2025-06-30 | 30.06% |
| 2025-03-31 | 32.09% |
| 2024-12-31 | 30.47% |
| 2024-09-30 | 30.86% |
| 2024-06-30 | 32.90% |
| 2024-03-31 | 31.50% |
| 2023-12-31 | 32.02% |
| 2023-09-30 | 31.91% |
| 2023-06-30 | 32.97% |
| 2023-03-31 | 31.16% |
| 2022-12-31 | 31.74% |
| 2022-09-30 | 30.57% |
| 2022-06-30 | 30.52% |
| 2022-03-31 | 28.13% |
| 2021-12-31 | 29.38% |
| 2021-09-30 | 25.59% |
| 2021-06-30 | 26.06% |
| 2021-03-31 | 25.59% |
| 2020-12-31 | 27.24% |
| 2020-09-30 | 29.12% |
| 2020-06-30 | 32.35% |
| 2020-03-31 | 34.44% |
| 2019-12-31 | 36.93% |
| 2019-09-30 | 36.00% |
| 2019-06-30 | 34.73% |
| 2019-03-31 | 36.32% |
| 2018-12-31 | 36.73% |
| 2018-09-30 | 36.67% |
| 2018-06-30 | 36.28% |
| 2018-03-31 | 34.98% |
| 2017-12-31 | 36.83% |
| 2017-09-30 | 37.52% |
| 2017-06-30 | 36.73% |
| 2017-03-31 | 36.86% |
| 2016-12-31 | 38.27% |
| 2016-09-30 | 37.86% |
| 2016-06-30 | 37.39% |
| 2016-03-31 | 39.96% |
| 2015-12-31 | 39.63% |
| 2015-09-30 | 37.58% |
| 2015-06-30 | 37.27% |
| 2015-03-31 | 35.06% |
| 2014-12-31 | 37.06% |
| 2014-09-30 | 36.51% |
| 2014-06-30 | 36.17% |
| 2014-03-31 | 35.35% |
| 2013-12-31 | 35.52% |
| 2013-09-30 | 20.66% |
| 2013-06-30 | 12.69% |
| 2013-03-31 | 27.22% |
| 2012-12-31 | 34.17% |
| 2012-09-30 | 37.22% |
| 2012-06-30 | 35.50% |
| 2012-03-31 | 35.18% |
| 2011-12-31 | 34.79% |
| 2011-09-30 | 34.77% |
| 2011-06-30 | 33.70% |
| 2011-03-31 | 32.24% |
| 2010-12-31 | 30.77% |
| 2010-09-30 | 31.39% |
| 2010-06-30 | 31.81% |
| 2010-03-31 | 29.02% |
| 2009-12-31 | 13.73% |
| 2009-09-30 | 31.86% |
| 2009-06-30 | 32.86% |
| 2009-03-31 | 33.28% |
| 2008-12-31 | 27.75% |
| 2008-09-30 | 34.29% |
| 2008-06-30 | 35.04% |
| 2008-03-31 | 34.95% |
| 2007-12-31 | 33.14% |
| 2007-09-30 | 35.82% |
| 2007-06-30 | 36.09% |
| 2007-03-31 | 35.72% |
| 2006-12-31 | 37.17% |
| 2006-09-30 | 36.20% |
| 2006-06-30 | 33.99% |
| 2006-03-31 | 34.27% |
| 2005-12-31 | 34.82% |
| 2005-09-30 | 34.45% |
| 2005-06-30 | 34.83% |
| 2005-03-31 | 33.40% |
| 2004-12-31 | 33.87% |
| 2004-09-30 | 32.45% |
| 2004-06-30 | 33.52% |
| 2004-03-31 | 32.77% |
| 2003-12-31 | -52.13% |
| 2003-09-30 | 33.21% |
| 2003-06-30 | 34.93% |
| 2003-03-31 | 34.77% |
| 2002-12-31 | -39.29% |
| 2002-09-30 | 160.82% |
