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 44.86% is in line with its 5-year average of 47.40%, near the low end of its 5-year range (35.42%–71.47%).
As of the fiscal period ended Tuesday, June 30, 2026. 3.46% above its 12-month average of 43.36%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
44.86%
OPERATING MARGIN AVG TTM
43.36%
OPERATING MARGIN AVG 3Y
42.62%
OPERATING MARGIN AVG 5Y
46.19%
OPERATING MARGIN AVG 10Y
47.67%
OPERATING MARGIN AVG 15Y
44.79%
OPERATING MARGIN AVG 20Y
41.90%
CURRENT VS TTM AVG
+3.46%
CURRENT VS 3Y AVG
+5.25%
CURRENT VS 5Y AVG
-2.88%
CURRENT VS 10Y AVG
-5.88%
CURRENT VS 15Y AVG
+0.17%
CURRENT VS 20Y AVG
+7.07%
SECTOR MEDIAN · REAL ESTATE
28.86%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
+55.46%
vs the sector median at left
Extra Space Storage Inc.
Market Cap
$31.70B
Operating Margin
44.86%
TTM Avg
43.36%
3Y Avg
42.62%
5Y Avg
46.19%
Market Cap
$32.27B
Operating Margin
47.74%
TTM Avg
2.01%
3Y Avg
18.16%
5Y Avg
22.69%
Market Cap
$29.06B
Operating Margin
89.26%
TTM Avg
91.57%
3Y Avg
84.63%
5Y Avg
84.79%
Market Cap
$27.08B
Operating Margin
28.45%
TTM Avg
30.75%
3Y Avg
30.95%
5Y Avg
30.23%
Market Cap
$37.82B
Operating Margin
18.01%
TTM Avg
18.39%
3Y Avg
18.54%
5Y Avg
19.29%
Market Cap
$25.40B
Operating Margin
36.33%
TTM Avg
48.77%
3Y Avg
55.23%
5Y Avg
56.70%
Market Cap
$18.92B
Operating Margin
47.96%
TTM Avg
51.13%
3Y Avg
42.86%
5Y Avg
39.29%
Market Cap
$18.63B
Operating Margin
8.38%
TTM Avg
8.18%
3Y Avg
15.51%
5Y Avg
20.07%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Extra Space Storage Inc. (EXR) | $31.70B | 44.86% | 43.36% | 42.62% | 46.19% |
| Crown Castle Inc. (CCI)vs › | $32.27B | 47.74% | 2.01% | 18.16% | 22.69% |
| VICI Properties Inc. (VICI)vs › | $29.06B | 89.26% | 91.57% | 84.63% | 84.79% |
| AvalonBay Communities, Inc. (AVB)vs › | $27.08B | 28.45% | 30.75% | 30.95% | 30.23% |
| Iron Mountain Incorporated (IRM)vs › | $37.82B | 18.01% | 18.39% | 18.54% | 19.29% |
| Equity Residential (EQR)vs › | $25.40B | 36.33% | 48.77% | 55.23% | 56.70% |
| CBRE Group, Inc. (CBRE)vs › | $43.77B | 3.61% | 3.57% | 3.89% | 4.25% |
| SBA Communications Corporation (SBAC)vs › | $18.92B | 47.96% | 51.13% | 42.86% | 39.29% |
| Weyerhaeuser Company (WY)vs › | $18.63B | 8.38% | 8.18% | 15.51% | 20.07% |
| Essex Property Trust, Inc. (ESS)vs › | $18.51B | 43.88% | 41.75% | 38.88% | 37.53% |
Gross Margin
28.4%
Operating Margin
44.9%
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 | 44.86% |
| 2026-03-31 | 42.94% |
| 2025-12-31 | 48.69% |
| 2025-09-30 | 35.90% |
| 2025-06-30 | 44.43% |
| 2025-03-31 | 46.28% |
| 2024-12-31 | 45.21% |
| 2024-09-30 | 35.42% |
| 2024-06-30 | 36.81% |
| 2024-03-31 | 41.23% |
| 2023-12-31 | 40.97% |
| 2023-09-30 | 39.29% |
| 2023-06-30 | 52.10% |
| 2023-03-31 | 51.34% |
| 2022-12-31 | 52.07% |
| 2022-09-30 | 52.91% |
| 2022-06-30 | 56.82% |
| 2022-03-31 | 51.98% |
| 2021-12-31 | 71.47% |
| 2021-09-30 | 53.78% |
| 2021-06-30 | 50.87% |
| 2021-03-31 | 65.90% |
| 2020-12-31 | 54.35% |
| 2020-09-30 | 46.81% |
| 2020-06-30 | 45.14% |
| 2020-03-31 | 46.58% |
| 2019-12-31 | 48.62% |
| 2019-09-30 | 47.81% |
| 2019-06-30 | 48.73% |
| 2019-03-31 | 47.26% |
| 2018-12-31 | 50.35% |
| 2018-09-30 | 49.45% |
| 2018-06-30 | 48.20% |
| 2018-03-31 | 46.32% |
| 2017-12-31 | 49.38% |
| 2017-09-30 | 48.55% |
| 2017-06-30 | 48.74% |
| 2017-03-31 | 46.59% |
| 2016-12-31 | 46.64% |
| 2016-09-30 | 47.06% |
| 2016-06-30 | 44.54% |
| 2016-03-31 | 40.32% |
| 2015-12-31 | 17.60% |
| 2015-09-30 | 48.43% |
| 2015-06-30 | 43.21% |
| 2015-03-31 | 42.91% |
| 2014-12-31 | 41.64% |
| 2014-09-30 | 45.09% |
| 2014-06-30 | 43.26% |
| 2014-03-31 | 38.96% |
| 2013-12-31 | 39.62% |
| 2013-09-30 | 41.07% |
| 2013-06-30 | 41.32% |
| 2013-03-31 | 38.32% |
| 2012-12-31 | 36.95% |
| 2012-09-30 | 38.60% |
| 2012-06-30 | 39.89% |
| 2012-03-31 | 36.02% |
| 2011-12-31 | 36.88% |
| 2011-09-30 | 37.12% |
| 2011-06-30 | 33.13% |
| 2011-03-31 | 32.26% |
| 2010-12-31 | 32.24% |
| 2010-09-30 | 32.73% |
| 2010-06-30 | 33.16% |
| 2010-03-31 | 30.87% |
| 2009-12-31 | 34.40% |
| 2009-09-30 | 32.56% |
| 2009-06-30 | 3.44% |
| 2009-03-31 | 30.72% |
| 2008-12-31 | 33.70% |
| 2008-09-30 | 34.85% |
| 2008-06-30 | 32.54% |
| 2008-03-31 | 33.45% |
| 2007-12-31 | 36.67% |
| 2007-09-30 | 35.59% |
| 2007-06-30 | 34.89% |
| 2007-03-31 | 32.77% |
| 2006-12-31 | 32.78% |
| 2006-09-30 | 32.29% |
| 2006-06-30 | 30.63% |
| 2006-03-31 | 24.59% |
| 2005-12-31 | 25.27% |
| 2005-09-30 | 23.46% |
| 2005-06-30 | 23.87% |
| 2005-03-31 | 22.80% |
| 2004-12-31 | 25.78% |
| 2004-09-30 | 18.49% |
| 2004-06-30 | 10.78% |
| 2004-03-31 | 168.85% |
| 2003-12-31 | -25.29% |
| 2003-09-30 | 11.57% |
| 2003-06-30 | 18.63% |
