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 35.92% is 33% below its 5-year average of 53.32%, near the low end of its 5-year range (35.92%–68.03%).
As of the fiscal period ended Tuesday, June 30, 2026. 7.40% below its 12-month average of 38.79%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
35.92%
OPERATING MARGIN AVG TTM
38.79%
OPERATING MARGIN AVG 3Y
42.22%
OPERATING MARGIN AVG 5Y
53.32%
OPERATING MARGIN AVG 10Y
48.02%
OPERATING MARGIN AVG 15Y
38.69%
OPERATING MARGIN AVG 20Y
33.09%
CURRENT VS TTM AVG
-7.40%
CURRENT VS 3Y AVG
-14.91%
CURRENT VS 5Y AVG
-32.63%
CURRENT VS 10Y AVG
-25.18%
CURRENT VS 15Y AVG
-7.15%
CURRENT VS 20Y AVG
+8.57%
SECTOR MEDIAN · REAL ESTATE
29.30%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
+22.59%
vs the sector median at left
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%
Market Cap
$10.25B
Operating Margin
34.49%
TTM Avg
37.61%
3Y Avg
40.03%
5Y Avg
39.38%
Market Cap
$8.44B
Operating Margin
41.59%
TTM Avg
41.50%
3Y Avg
40.62%
5Y Avg
40.74%
Market Cap
$11.25B
Operating Margin
17.81%
TTM Avg
18.80%
3Y Avg
19.25%
5Y Avg
19.49%
Market Cap
$7.31B
Operating Margin
40.39%
TTM Avg
39.54%
3Y Avg
40.06%
5Y Avg
43.51%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| CubeSmart (CUBE) | $9.46B | 35.92% | 38.79% | 42.22% | 53.32% |
| 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% |
| Federal Realty Investment Trust (FRT)vs › | $10.25B | 34.49% | 37.61% | 40.03% | 39.38% |
| First Industrial Realty Trust, Inc. (FR)vs › | $8.44B | 41.59% | 41.50% | 40.62% | 40.74% |
| BXP, Inc. (BXP)vs › | $11.12B | 55.71% | 42.85% | 37.89% | 36.34% |
| Camden Property Trust (CPT)vs › | $11.25B | 17.81% | 18.80% | 19.25% | 19.49% |
| Terreno Realty Corporation (TRNO)vs › | $7.31B | 40.39% | 39.54% | 40.06% | 43.51% |
| CoStar Group, Inc. (CSGP)vs › | $12.25B | 2.18% | -1.03% | 7.53% | 11.63% |
Gross Margin
22.7%
Operating Margin
35.9%
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 | 35.92% |
| 2026-03-31 | 40.16% |
| 2025-12-31 | 39.30% |
| 2025-09-30 | 38.95% |
| 2025-06-30 | 39.63% |
| 2025-03-31 | 42.07% |
| 2024-12-31 | 46.35% |
| 2024-09-30 | 45.61% |
| 2024-06-30 | 44.12% |
| 2024-03-31 | 45.15% |
| 2023-12-31 | 68.03% |
| 2023-09-30 | 47.14% |
| 2023-06-30 | 65.92% |
| 2023-03-31 | 66.66% |
| 2022-12-31 | 67.42% |
| 2022-09-30 | 65.64% |
| 2022-06-30 | 65.03% |
| 2022-03-31 | 64.38% |
| 2021-12-31 | 65.72% |
| 2021-09-30 | 64.31% |
| 2021-06-30 | 62.29% |
| 2021-03-31 | 61.89% |
| 2020-12-31 | 62.74% |
| 2020-09-30 | 60.98% |
| 2020-06-30 | 60.34% |
| 2020-03-31 | 59.71% |
| 2019-12-31 | 61.17% |
| 2019-09-30 | 35.84% |
| 2019-06-30 | 36.75% |
| 2019-03-31 | 35.22% |
| 2018-12-31 | 35.81% |
| 2018-09-30 | 38.86% |
| 2018-06-30 | 37.14% |
| 2018-03-31 | 35.28% |
| 2017-12-31 | 38.69% |
| 2017-09-30 | 36.34% |
| 2017-06-30 | 34.31% |
| 2017-03-31 | 30.36% |
| 2016-12-31 | 31.46% |
| 2016-09-30 | 29.91% |
| 2016-06-30 | 26.10% |
| 2016-03-31 | 24.17% |
| 2015-12-31 | 27.65% |
| 2015-09-30 | 25.61% |
| 2015-06-30 | 23.40% |
| 2015-03-31 | 19.94% |
| 2014-12-31 | 17.77% |
| 2014-09-30 | 23.82% |
| 2014-06-30 | 24.60% |
| 2014-03-31 | 23.25% |
| 2013-12-31 | 22.24% |
| 2013-09-30 | 20.41% |
| 2013-06-30 | 18.94% |
| 2013-03-31 | 12.99% |
| 2012-12-31 | 13.06% |
| 2012-09-30 | 11.20% |
| 2012-06-30 | 11.43% |
| 2012-03-31 | 11.47% |
| 2011-12-31 | 17.03% |
| 2011-09-30 | 23.14% |
| 2011-06-30 | 19.41% |
| 2011-03-31 | 17.95% |
| 2010-12-31 | 18.38% |
| 2010-09-30 | 17.99% |
| 2010-06-30 | 13.02% |
| 2010-03-31 | 14.88% |
| 2009-12-31 | 14.30% |
| 2009-09-30 | 15.05% |
| 2009-06-30 | 11.72% |
| 2009-03-31 | 15.62% |
| 2008-12-31 | 15.10% |
| 2008-09-30 | 15.94% |
| 2008-06-30 | 13.56% |
| 2008-03-31 | 15.37% |
| 2007-12-31 | 13.70% |
| 2007-09-30 | 16.32% |
| 2007-06-30 | 20.41% |
| 2007-03-31 | 17.11% |
| 2006-12-31 | 13.53% |
| 2006-09-30 | 18.33% |
| 2006-06-30 | 21.62% |
| 2006-03-31 | 18.72% |
| 2005-12-31 | 11.31% |
| 2005-09-30 | 29.26% |
| 2005-06-30 | 29.00% |
| 2005-03-31 | 26.50% |
| 2004-12-31 | 14.34% |
| 2004-09-30 | 35.43% |
| 2004-06-30 | 163.79% |
| 2004-03-31 | 34.09% |
| 2003-12-31 | 34.61% |
| 2003-09-30 | 38.23% |
