Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
Is the operating margin high or low?
The operating margin of 43.37% is in line with its 5-year average of 46.19%, near the low end of its 5-year range (35.42%–71.47%).
0.01% above its 12-month average of 43.36%.
Reported quarterly operating margin; no daily interpolation. Q2 FY2026 (2026-06-30): 44.86%.
OPERATING MARGIN
43.37%
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
+0.01%
CURRENT VS 3Y AVG
+1.75%
CURRENT VS 5Y AVG
-6.11%
CURRENT VS 10Y AVG
-9.02%
CURRENT VS 15Y AVG
-3.17%
CURRENT VS 20Y AVG
+3.50%
SECTOR MEDIAN · REAL ESTATE
29.30%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
+48.00%
vs the sector median at left
Extra Space Storage Inc.
Market Cap
$28.88B
Operating Margin
43.37%
TTM Avg
43.36%
3Y Avg
42.62%
5Y Avg
46.19%
Market Cap
$26.28B
Operating Margin
28.45%
TTM Avg
30.75%
3Y Avg
30.95%
5Y Avg
30.23%
Market Cap
$26.12B
Operating Margin
88.77%
TTM Avg
91.67%
3Y Avg
84.68%
5Y Avg
84.82%
Market Cap
$31.93B
Operating Margin
47.74%
TTM Avg
2.01%
3Y Avg
18.16%
5Y Avg
22.69%
Market Cap
$23.87B
Operating Margin
36.33%
TTM Avg
48.77%
3Y Avg
55.23%
5Y Avg
56.70%
Market Cap
$34.02B
Operating Margin
18.76%
TTM Avg
18.39%
3Y Avg
18.54%
5Y Avg
19.29%
Market Cap
$18.94B
Operating Margin
50.79%
TTM Avg
51.13%
3Y Avg
42.86%
5Y Avg
39.29%
Market Cap
$17.35B
Operating Margin
43.88%
TTM Avg
41.75%
3Y Avg
38.88%
5Y Avg
37.53%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Extra Space Storage Inc. (EXR) | $28.88B | 43.37% | 43.36% | 42.62% | 46.19% |
| AvalonBay Communities, Inc. (AVB)vs › | $26.28B | 28.45% | 30.75% | 30.95% | 30.23% |
| VICI Properties Inc. (VICI)vs › | $26.12B | 88.77% | 91.67% | 84.68% | 84.82% |
| Crown Castle Inc. (CCI)vs › | $31.93B | 47.74% | 2.01% | 18.16% | 22.69% |
| Equity Residential (EQR)vs › | $23.87B | 36.33% | 48.77% | 55.23% | 56.70% |
| Iron Mountain Incorporated (IRM)vs › | $34.02B | 18.76% | 18.39% | 18.54% | 19.29% |
| SBA Communications Corporation (SBAC)vs › | $18.94B | 50.79% | 51.13% | 42.86% | 39.29% |
| CBRE Group, Inc. (CBRE)vs › | $40.40B | 3.61% | 3.57% | 3.89% | 4.25% |
| Essex Property Trust, Inc. (ESS)vs › | $17.35B | 43.88% | 41.75% | 38.88% | 37.53% |
| Invitation Homes Inc. (INVH)vs › | $15.99B | 30.16% | 27.73% | 28.33% | 27.77% |
Gross Margin
23.0%
Operating Margin
43.4%
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% |
