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 46.63% is 92% above its 5-year average of 24.24%, near the high end of its 5-year range (-273.20%–49.16%).
As of the fiscal period ended Tuesday, June 30, 2026. 2.26% below its 12-month average of 47.71%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
46.63%
OPERATING MARGIN AVG TTM
47.71%
OPERATING MARGIN AVG 3Y
42.66%
OPERATING MARGIN AVG 5Y
39.11%
OPERATING MARGIN AVG 10Y
32.99%
OPERATING MARGIN AVG 15Y
31.02%
OPERATING MARGIN AVG 20Y
29.07%
CURRENT VS TTM AVG
-2.26%
CURRENT VS 3Y AVG
+9.29%
CURRENT VS 5Y AVG
+19.21%
CURRENT VS 10Y AVG
+41.34%
CURRENT VS 15Y AVG
+50.29%
CURRENT VS 20Y AVG
+60.39%
SECTOR MEDIAN · REAL ESTATE
28.86%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
+61.56%
vs the sector median at left
Crown Castle Inc.
Market Cap
$33.34B
Operating Margin
46.63%
TTM Avg
47.71%
3Y Avg
42.66%
5Y Avg
39.11%
Market Cap
$31.28B
Operating Margin
43.37%
TTM Avg
41.87%
3Y Avg
45.48%
5Y Avg
48.48%
Market Cap
$36.39B
Operating Margin
18.01%
TTM Avg
18.39%
3Y Avg
18.54%
5Y Avg
19.29%
Market Cap
$29.01B
Operating Margin
91.05%
TTM Avg
91.57%
3Y Avg
84.63%
5Y Avg
84.79%
Market Cap
$26.37B
Operating Margin
28.45%
TTM Avg
30.75%
3Y Avg
30.95%
5Y Avg
30.23%
Market Cap
$24.91B
Operating Margin
36.33%
TTM Avg
48.77%
3Y Avg
55.23%
5Y Avg
56.70%
Market Cap
$19.20B
Operating Margin
47.63%
TTM Avg
51.13%
3Y Avg
42.86%
5Y Avg
39.29%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Crown Castle Inc. (CCI) | $33.34B | 46.63% | 47.71% | 42.66% | 39.11% |
| Extra Space Storage Inc. (EXR)vs › | $31.28B | 43.37% | 41.87% | 45.48% | 48.48% |
| Iron Mountain Incorporated (IRM)vs › | $36.39B | 18.01% | 18.39% | 18.54% | 19.29% |
| VICI Properties Inc. (VICI)vs › | $29.01B | 91.05% | 91.57% | 84.63% | 84.79% |
| AvalonBay Communities, Inc. (AVB)vs › | $26.37B | 28.45% | 30.75% | 30.95% | 30.23% |
| Equity Residential (EQR)vs › | $24.91B | 36.33% | 48.77% | 55.23% | 56.70% |
| CBRE Group, Inc. (CBRE)vs › | $42.51B | 3.61% | 3.57% | 3.89% | 4.25% |
| Ventas, Inc. (VTR)vs › | $45.46B | 6.61% | 14.00% | 12.24% | 12.59% |
| SBA Communications Corporation (SBAC)vs › | $19.20B | 47.63% | 51.13% | 42.86% | 39.29% |
| Essex Property Trust, Inc. (ESS)vs › | $18.26B | 43.88% | 41.75% | 38.88% | 37.53% |
Gross Margin
63.2%
Operating Margin
46.6%
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 | 46.63% |
| 2026-03-31 | 46.04% |
| 2025-12-31 | 49.16% |
| 2025-09-30 | 48.97% |
| 2025-06-30 | 47.74% |
| 2025-03-31 | 49.10% |
| 2024-12-31 | -273.20% |
| 2024-09-30 | 32.93% |
| 2024-06-30 | 44.72% |
| 2024-03-31 | 46.68% |
| 2023-12-31 | 35.13% |
| 2023-09-30 | 29.15% |
| 2023-06-30 | 35.73% |
| 2023-03-31 | 35.42% |
| 2022-12-31 | 34.69% |
| 2022-09-30 | 34.48% |
| 2022-06-30 | 34.20% |
| 2022-03-31 | 35.48% |
| 2021-12-31 | 31.62% |
| 2021-09-30 | 32.51% |
| 2021-06-30 | 31.90% |
| 2021-03-31 | 30.17% |
| 2020-12-31 | 45.68% |
| 2020-09-30 | 29.21% |
| 2020-06-30 | 26.60% |
| 2020-03-31 | 25.62% |
| 2019-12-31 | 22.45% |
| 2019-09-30 | 28.54% |
| 2019-06-30 | 26.88% |
| 2019-03-31 | 26.07% |
| 2018-12-31 | 26.85% |
| 2018-09-30 | 26.11% |
| 2018-06-30 | 25.94% |
| 2018-03-31 | 26.87% |
| 2017-12-31 | 21.68% |
| 2017-09-30 | 24.55% |
| 2017-06-30 | 24.95% |
| 2017-03-31 | 25.10% |
| 2016-12-31 | 25.38% |
| 2016-09-30 | 24.62% |
| 2016-06-30 | 24.02% |
| 2016-03-31 | 22.66% |
| 2015-12-31 | 24.29% |
| 2015-09-30 | 25.14% |
| 2015-06-30 | 26.76% |
| 2015-03-31 | 27.20% |
| 2014-12-31 | 27.03% |
| 2014-09-30 | 26.77% |
| 2014-06-30 | 24.73% |
| 2014-03-31 | 28.72% |
| 2013-12-31 | 29.30% |
| 2013-09-30 | 29.75% |
| 2013-06-30 | 31.29% |
| 2013-03-31 | 31.76% |
| 2012-12-31 | 30.96% |
| 2012-09-30 | 35.53% |
| 2012-06-30 | 34.67% |
| 2012-03-31 | 36.65% |
| 2011-12-31 | 34.04% |
| 2011-09-30 | 35.40% |
| 2011-06-30 | 33.41% |
| 2011-03-31 | 33.35% |
| 2010-12-31 | 31.46% |
| 2010-09-30 | 32.36% |
| 2010-06-30 | 29.13% |
| 2010-03-31 | 29.34% |
| 2009-12-31 | 26.93% |
| 2009-09-30 | 27.69% |
| 2009-06-30 | 24.03% |
| 2009-03-31 | 24.14% |
| 2008-12-31 | 20.14% |
| 2008-09-30 | 19.77% |
| 2008-06-30 | 18.07% |
| 2008-03-31 | 18.62% |
| 2007-12-31 | 16.26% |
| 2007-09-30 | -3.64% |
| 2007-06-30 | 11.06% |
| 2007-03-31 | 4.26% |
| 2006-12-31 | 19.23% |
| 2006-09-30 | 16.12% |
| 2006-06-30 | 14.22% |
| 2006-03-31 | 11.45% |
| 2005-12-31 | 11.37% |
| 2005-09-30 | 1.00% |
| 2005-06-30 | 5.56% |
| 2005-03-31 | -2.68% |
| 2004-12-31 | -28.94% |
| 2004-09-30 | 0.69% |
| 2004-06-30 | -4.68% |
| 2004-03-31 | -4.22% |
| 2003-12-31 | 9.28% |
| 2003-09-30 | -5.31% |
| 2003-06-30 | -7.33% |
| 2003-03-31 | 5.45% |
| 2002-12-31 | -1.57% |
| 2002-09-30 | -3.48% |
