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 20.41% is 20% above its 5-year average of 17.03%, around the middle of its 5-year range (15.01%–27.32%).
As of the fiscal period ended Tuesday, March 31, 2026. 16.44% above its 12-month average of 17.53%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
20.41%
OPERATING MARGIN AVG TTM
17.53%
OPERATING MARGIN AVG 3Y
16.97%
OPERATING MARGIN AVG 5Y
17.03%
OPERATING MARGIN AVG 10Y
17.05%
OPERATING MARGIN AVG 15Y
17.45%
OPERATING MARGIN AVG 20Y
17.18%
CURRENT VS TTM AVG
+16.44%
CURRENT VS 3Y AVG
+20.28%
CURRENT VS 5Y AVG
+19.85%
CURRENT VS 10Y AVG
+19.73%
CURRENT VS 15Y AVG
+16.99%
CURRENT VS 20Y AVG
+18.83%
SECTOR MEDIAN · REAL ESTATE
29.30%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
-30.34%
vs the sector median at left
Iron Mountain Incorporated
Market Cap
$37.00B
Operating Margin
20.41%
TTM Avg
17.53%
3Y Avg
16.97%
5Y Avg
17.03%
Market Cap
$32.32B
Operating Margin
47.74%
TTM Avg
2.01%
3Y Avg
18.16%
5Y Avg
22.69%
Market Cap
$31.01B
Operating Margin
43.37%
TTM Avg
41.87%
3Y Avg
45.48%
5Y Avg
48.48%
Market Cap
$28.71B
Operating Margin
89.26%
TTM Avg
91.57%
3Y Avg
84.63%
5Y Avg
84.79%
Market Cap
$25.67B
Operating Margin
28.45%
TTM Avg
30.75%
3Y Avg
30.95%
5Y Avg
30.23%
Market Cap
$24.15B
Operating Margin
36.33%
TTM Avg
48.77%
3Y Avg
55.23%
5Y Avg
56.70%
Market Cap
$19.42B
Operating Margin
50.79%
TTM Avg
51.13%
3Y Avg
42.86%
5Y Avg
39.29%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Iron Mountain Incorporated (IRM) | $37.00B | 20.41% | 17.53% | 16.97% | 17.03% |
| Crown Castle Inc. (CCI)vs › | $32.32B | 47.74% | 2.01% | 18.16% | 22.69% |
| CBRE Group, Inc. (CBRE)vs › | $42.70B | 3.61% | 3.57% | 3.89% | 4.25% |
| Extra Space Storage Inc. (EXR)vs › | $31.01B | 43.37% | 41.87% | 45.48% | 48.48% |
| Ventas, Inc. (VTR)vs › | $43.28B | 12.94% | 14.00% | 12.24% | 12.59% |
| VICI Properties Inc. (VICI)vs › | $28.71B | 89.26% | 91.57% | 84.63% | 84.79% |
| AvalonBay Communities, Inc. (AVB)vs › | $25.67B | 28.45% | 30.75% | 30.95% | 30.23% |
| Equity Residential (EQR)vs › | $24.15B | 36.33% | 48.77% | 55.23% | 56.70% |
| SBA Communications Corporation (SBAC)vs › | $19.42B | 50.79% | 51.13% | 42.86% | 39.29% |
| Essex Property Trust, Inc. (ESS)vs › | $18.07B | 43.88% | 41.75% | 38.88% | 37.53% |
Gross Margin
25.7%
Operating Margin
20.4%
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 |
|---|---|
| 2026-03-31 | 20.41% |
| 2025-12-31 | 18.50% |
| 2025-09-30 | 17.59% |
| 2025-06-30 | 15.18% |
| 2025-03-31 | 15.97% |
| 2024-12-31 | 17.86% |
| 2024-09-30 | 16.13% |
| 2024-06-30 | 15.01% |
| 2024-03-31 | 16.63% |
| 2023-12-31 | 16.25% |
| 2023-09-30 | 17.13% |
| 2023-06-30 | 15.65% |
| 2023-03-31 | 18.31% |
| 2022-12-31 | 19.40% |
| 2022-09-30 | 22.20% |
| 2022-06-30 | 22.78% |
| 2022-03-31 | 17.80% |
| 2021-12-31 | 16.94% |
| 2021-09-30 | 16.05% |
| 2021-06-30 | 27.32% |
| 2021-03-31 | 15.75% |
| 2020-12-31 | 40.14% |
| 2020-09-30 | 23.18% |
| 2020-06-30 | 13.41% |
| 2020-03-31 | 12.87% |
| 2019-12-31 | 19.09% |
| 2019-09-30 | 21.04% |
| 2019-06-30 | 18.10% |
| 2019-03-31 | 15.06% |
| 2018-12-31 | 18.07% |
| 2018-09-30 | 18.44% |
| 2018-06-30 | 18.99% |
| 2018-03-31 | 15.79% |
| 2017-12-31 | 15.58% |
| 2017-09-30 | 18.30% |
| 2017-06-30 | 17.92% |
| 2017-03-31 | 15.74% |
| 2016-12-31 | 14.93% |
| 2016-09-30 | 14.37% |
| 2016-06-30 | 10.93% |
| 2016-03-31 | 17.33% |
| 2015-12-31 | 16.38% |
| 2015-09-30 | 16.99% |
| 2015-06-30 | 17.05% |
| 2015-03-31 | 19.34% |
| 2014-12-31 | 16.44% |
| 2014-09-30 | 18.08% |
| 2014-06-30 | 18.72% |
| 2014-03-31 | 17.22% |
| 2013-12-31 | 12.67% |
| 2013-09-30 | 18.52% |
| 2013-06-30 | 17.43% |
| 2013-03-31 | 16.44% |
| 2012-12-31 | 13.52% |
| 2012-09-30 | 20.58% |
| 2012-06-30 | 21.10% |
| 2012-03-31 | 19.00% |
| 2011-12-31 | 23.74% |
| 2011-09-30 | 17.51% |
| 2011-06-30 | 19.52% |
| 2011-03-31 | 18.34% |
| 2010-12-31 | 15.77% |
| 2010-09-30 | 13.67% |
| 2010-06-30 | 20.26% |
| 2010-03-31 | 17.09% |
| 2009-12-31 | 18.82% |
| 2009-09-30 | 18.65% |
| 2009-06-30 | 18.51% |
| 2009-03-31 | 16.76% |
| 2008-12-31 | 16.74% |
| 2008-09-30 | 17.38% |
| 2008-06-30 | 16.11% |
| 2008-03-31 | 14.19% |
| 2007-12-31 | 15.81% |
| 2007-09-30 | 18.35% |
| 2007-06-30 | 16.63% |
| 2007-03-31 | 15.78% |
| 2006-12-31 | 18.82% |
| 2006-09-30 | 16.31% |
| 2006-06-30 | 17.69% |
| 2006-03-31 | 16.40% |
| 2005-12-31 | 17.98% |
| 2005-09-30 | 19.41% |
| 2005-06-30 | 18.89% |
| 2005-03-31 | 18.17% |
| 2004-12-31 | 18.14% |
| 2004-09-30 | 18.51% |
| 2004-06-30 | 19.50% |
| 2004-03-31 | 19.76% |
| 2003-12-31 | 21.24% |
| 2003-09-30 | 20.24% |
| 2003-06-30 | 19.11% |
| 2003-03-31 | 20.53% |
| 2002-12-31 | 19.61% |
| 2002-09-30 | 20.08% |
| 2002-06-30 | 8.18% |
