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 28.90% is 15% below its 5-year average of 33.82%, near the low end of its 5-year range (26.12%–55.92%).
As of the fiscal period ended Tuesday, June 30, 2026. 14.81% below its 12-month average of 33.92%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
28.90%
OPERATING MARGIN AVG TTM
33.92%
OPERATING MARGIN AVG 3Y
30.10%
OPERATING MARGIN AVG 5Y
31.56%
OPERATING MARGIN AVG 10Y
32.54%
OPERATING MARGIN AVG 15Y
33.30%
OPERATING MARGIN AVG 20Y
32.00%
CURRENT VS TTM AVG
-14.81%
CURRENT VS 3Y AVG
-4.00%
CURRENT VS 5Y AVG
-8.43%
CURRENT VS 10Y AVG
-11.19%
CURRENT VS 15Y AVG
-13.22%
CURRENT VS 20Y AVG
-9.69%
SECTOR MEDIAN · REAL ESTATE
29.30%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
-1.38%
vs the sector median at left
Market Cap
$11.25B
Operating Margin
17.81%
TTM Avg
18.80%
3Y Avg
19.25%
5Y Avg
19.49%
Market Cap
$10.25B
Operating Margin
34.49%
TTM Avg
37.61%
3Y Avg
40.03%
5Y Avg
39.38%
Market Cap
$12.25B
Operating Margin
2.18%
TTM Avg
-1.03%
3Y Avg
7.53%
5Y Avg
11.63%
Market Cap
$9.08B
Operating Margin
48.35%
TTM Avg
48.18%
3Y Avg
48.61%
5Y Avg
50.68%
Market Cap
$8.67B
Operating Margin
-33.94%
TTM Avg
-7.62%
3Y Avg
8.22%
5Y Avg
20.35%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| BXP, Inc. (BXP) | $11.12B | 28.90% | 33.92% | 30.10% | 31.56% |
| Camden Property Trust (CPT)vs › | $11.25B | 17.81% | 18.80% | 19.25% | 19.49% |
| Federal Realty Investment Trust (FRT)vs › | $10.25B | 34.49% | 37.61% | 40.03% | 39.38% |
| CoStar Group, Inc. (CSGP)vs › | $12.25B | 2.18% | -1.03% | 7.53% | 11.63% |
| UDR, Inc. (UDR)vs › | $12.34B | 18.83% | 17.92% | 22.85% | 22.04% |
| CubeSmart (CUBE)vs › | $9.46B | 38.19% | 42.64% | 41.85% | 43.95% |
| Agree Realty Corporation (ADC)vs › | $9.08B | 48.35% | 48.18% | 48.61% | 50.68% |
| NNN REIT, Inc. (NNN)vs › | $8.91B | 62.14% | 64.00% | 64.37% | 62.66% |
| Alexandria Real Estate Equities, Inc. (ARE)vs › | $8.67B | -33.94% | -7.62% | 8.22% | 20.35% |
| First Industrial Realty Trust, Inc. (FR)vs › | $8.44B | 41.59% | 41.50% | 40.62% | 40.74% |
Gross Margin
60.6%
Operating Margin
28.9%
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 | 28.90% |
| 2026-03-31 | 26.12% |
| 2025-12-31 | 55.92% |
| 2025-09-30 | 29.14% |
| 2025-06-30 | 29.55% |
| 2025-03-31 | 54.67% |
| 2024-12-31 | 30.59% |
| 2024-09-30 | 30.44% |
| 2024-06-30 | 29.55% |
| 2024-03-31 | 29.32% |
| 2023-12-31 | 31.88% |
| 2023-09-30 | 33.04% |
| 2023-06-30 | 32.62% |
| 2023-03-31 | 29.31% |
| 2022-12-31 | 33.09% |
| 2022-09-30 | 34.56% |
| 2022-06-30 | 35.22% |
| 2022-03-31 | 33.72% |
| 2021-12-31 | 34.85% |
| 2021-09-30 | 34.36% |
| 2021-06-30 | 33.37% |
| 2021-03-31 | 32.12% |
| 2020-12-31 | 30.92% |
| 2020-09-30 | 33.84% |
| 2020-06-30 | 29.72% |
| 2020-03-31 | 36.14% |
| 2019-12-31 | 36.36% |
| 2019-09-30 | 36.28% |
| 2019-06-30 | 34.32% |
| 2019-03-31 | 34.53% |
| 2018-12-31 | 33.55% |
| 2018-09-30 | 34.73% |
| 2018-06-30 | 34.71% |
| 2018-03-31 | 31.48% |
| 2017-12-31 | 35.02% |
| 2017-09-30 | 35.54% |
| 2017-06-30 | 36.34% |
| 2017-03-31 | 32.62% |
| 2016-12-31 | 31.10% |
| 2016-09-30 | 25.21% |
| 2016-06-30 | 34.98% |
| 2016-03-31 | 37.59% |
| 2015-12-31 | 33.72% |
| 2015-09-30 | 36.16% |
| 2015-06-30 | 33.15% |
| 2015-03-31 | 33.34% |
| 2014-12-31 | 34.03% |
| 2014-09-30 | 34.71% |
| 2014-06-30 | 34.13% |
| 2014-03-31 | 30.78% |
| 2013-12-31 | 33.84% |
| 2013-09-30 | 32.64% |
| 2013-06-30 | 33.15% |
| 2013-03-31 | 27.00% |
| 2012-12-31 | 35.20% |
| 2012-09-30 | 34.58% |
| 2012-06-30 | 36.73% |
| 2012-03-31 | 32.31% |
| 2011-12-31 | 35.77% |
| 2011-09-30 | 36.36% |
| 2011-06-30 | 35.32% |
| 2011-03-31 | 33.03% |
| 2010-12-31 | 112.99% |
| 2010-09-30 | 14.56% |
| 2010-06-30 | 17.88% |
| 2010-03-31 | 12.53% |
| 2009-12-31 | 23.01% |
| 2009-09-30 | 17.92% |
| 2009-06-30 | 19.49% |
| 2009-03-31 | 12.22% |
| 2008-12-31 | 26.06% |
| 2008-09-30 | 15.21% |
| 2008-06-30 | 23.56% |
| 2008-03-31 | 40.18% |
| 2007-12-31 | 25.33% |
| 2007-09-30 | 23.33% |
| 2007-06-30 | 24.11% |
| 2007-03-31 | 22.59% |
| 2006-12-31 | 25.30% |
| 2006-09-30 | 23.87% |
| 2006-06-30 | 14.51% |
| 2006-03-31 | 21.13% |
| 2005-12-31 | 22.72% |
| 2005-09-30 | 22.67% |
| 2005-06-30 | 18.70% |
| 2005-03-31 | 20.54% |
| 2004-12-31 | 20.66% |
| 2004-09-30 | 22.07% |
| 2004-06-30 | 23.72% |
| 2004-03-31 | 21.37% |
| 2003-12-31 | 23.31% |
| 2003-09-30 | 21.69% |
| 2003-06-30 | 23.88% |
| 2003-03-31 | 22.56% |
| 2002-12-31 | 20.54% |
| 2002-09-30 | 47.17% |
