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 38.43% is 19% below its 5-year average of 47.26%, near the low end of its 5-year range (32.74%–98.91%).
1.72% below its 12-month average of 39.10%.
Reported quarterly operating margin; no daily interpolation. Q2 FY2026 (2026-06-30): 39.57%.
OPERATING MARGIN
38.43%
OPERATING MARGIN AVG TTM
39.10%
OPERATING MARGIN AVG 3Y
46.02%
OPERATING MARGIN AVG 5Y
47.26%
OPERATING MARGIN AVG 10Y
44.86%
OPERATING MARGIN AVG 15Y
35.24%
OPERATING MARGIN AVG 20Y
32.88%
CURRENT VS TTM AVG
-1.72%
CURRENT VS 3Y AVG
-16.49%
CURRENT VS 5Y AVG
-18.68%
CURRENT VS 10Y AVG
-14.34%
CURRENT VS 15Y AVG
+9.06%
CURRENT VS 20Y AVG
+16.88%
SECTOR MEDIAN · REAL ESTATE
29.30%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
+31.14%
vs the sector median at left
Prologis, Inc.
Market Cap
$125.55B
Operating Margin
38.43%
TTM Avg
39.10%
3Y Avg
46.02%
5Y Avg
47.26%
Market Cap
$82.15B
Operating Margin
44.40%
TTM Avg
45.23%
3Y Avg
37.52%
5Y Avg
36.57%
Market Cap
$66.12B
Operating Margin
47.40%
TTM Avg
50.88%
3Y Avg
50.05%
5Y Avg
48.36%
Market Cap
$65.82B
Operating Margin
17.87%
TTM Avg
9.63%
3Y Avg
10.35%
5Y Avg
11.89%
Market Cap
$54.98B
Operating Margin
N/A
TTM Avg
36.16%
3Y Avg
38.42%
5Y Avg
41.26%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Prologis, Inc. (PLD) | $125.55B | 38.43% | 39.10% | 46.02% | 47.26% |
| Equinix, Inc. (EQIX)vs › | $98.72B | 21.76% | 17.57% | 17.32% | 17.25% |
| Welltower Inc. (WELL)vs › | $166.86B | 5.40% | 8.96% | 11.34% | 12.91% |
| American Tower Corporation (AMT)vs › | $82.15B | 44.40% | 45.23% | 37.52% | 36.57% |
| Simon Property Group, Inc. (SPG)vs › | $66.12B | 47.40% | 50.88% | 50.05% | 48.36% |
| Digital Realty Trust, Inc. (DLR)vs › | $65.82B | 17.87% | 9.63% | 10.35% | 11.89% |
| Realty Income Corporation (O)vs › | $54.98B | N/A | 36.16% | 38.42% | 41.26% |
| Public Storage (PSA)vs › | $54.81B | 48.30% | 46.80% | 49.20% | 49.19% |
| Ventas, Inc. (VTR)vs › | $42.85B | 12.94% | 14.00% | 12.24% | 12.59% |
| CBRE Group, Inc. (CBRE)vs › | $40.31B | 3.61% | 3.57% | 3.89% | 4.25% |
Gross Margin
59.6%
Operating Margin
38.4%
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 | 39.57% |
| 2026-03-31 | 35.99% |
| 2025-12-31 | 37.84% |
| 2025-09-30 | 40.32% |
| 2025-06-30 | 41.79% |
| 2025-03-31 | 41.05% |
| 2024-12-31 | 64.58% |
| 2024-09-30 | 61.43% |
| 2024-06-30 | 50.96% |
| 2024-03-31 | 36.82% |
| 2023-12-31 | 44.19% |
| 2023-09-30 | 46.07% |
| 2023-06-30 | 57.60% |
| 2023-03-31 | 32.74% |
| 2022-12-31 | 46.44% |
| 2022-09-30 | 52.26% |
| 2022-06-30 | 42.59% |
| 2022-03-31 | 98.91% |
| 2021-12-31 | 94.60% |
| 2021-09-30 | 64.72% |
| 2021-06-30 | 60.90% |
| 2021-03-31 | 46.35% |
| 2020-12-31 | 43.40% |
| 2020-09-30 | 51.40% |
| 2020-06-30 | 48.34% |
| 2020-03-31 | 47.85% |
| 2019-12-31 | 67.75% |
| 2019-09-30 | 50.04% |
| 2019-06-30 | 55.93% |
| 2019-03-31 | 48.78% |
| 2018-12-31 | 29.87% |
| 2018-09-30 | 55.04% |
| 2018-06-30 | 45.32% |
| 2018-03-31 | 62.31% |
| 2017-12-31 | 25.55% |
| 2017-09-30 | 29.11% |
| 2017-06-30 | 35.93% |
| 2017-03-31 | 25.73% |
| 2016-12-31 | 26.48% |
| 2016-09-30 | 33.02% |
| 2016-06-30 | 23.64% |
| 2016-03-31 | 21.31% |
| 2015-12-31 | 16.41% |
| 2015-09-30 | 17.81% |
| 2015-06-30 | 17.11% |
| 2015-03-31 | 18.12% |
| 2014-12-31 | 16.62% |
| 2014-09-30 | 18.82% |
| 2014-06-30 | 20.71% |
| 2014-03-31 | 16.44% |
| 2013-12-31 | 16.13% |
| 2013-09-30 | 17.99% |
| 2013-06-30 | 13.95% |
| 2013-03-31 | 19.78% |
| 2012-12-31 | -32.64% |
| 2012-09-30 | 14.69% |
| 2012-06-30 | 19.51% |
| 2012-03-31 | 17.02% |
| 2011-12-31 | 9.85% |
| 2011-09-30 | 15.82% |
| 2011-06-30 | -13.98% |
| 2011-03-31 | 17.37% |
| 2010-12-31 | 19.06% |
| 2010-09-30 | 22.52% |
| 2010-06-30 | 21.64% |
| 2010-03-31 | 14.03% |
| 2009-12-31 | 16.85% |
| 2009-09-30 | 20.31% |
| 2009-06-30 | 25.06% |
| 2009-03-31 | -81.49% |
| 2008-12-31 | 22.70% |
| 2008-09-30 | 22.06% |
| 2008-06-30 | 38.72% |
| 2008-03-31 | 28.69% |
| 2007-12-31 | 28.64% |
| 2007-09-30 | 27.70% |
| 2007-06-30 | 32.06% |
| 2007-03-31 | 29.23% |
| 2006-12-31 | 36.59% |
| 2006-09-30 | 32.95% |
| 2006-06-30 | 31.68% |
| 2006-03-31 | 35.98% |
| 2005-12-31 | 45.61% |
| 2005-09-30 | 34.02% |
| 2005-06-30 | 35.08% |
| 2005-03-31 | 33.40% |
| 2004-12-31 | 41.51% |
| 2004-09-30 | 40.41% |
| 2004-06-30 | 38.28% |
| 2004-03-31 | 38.82% |
| 2003-12-31 | 43.39% |
| 2003-09-30 | 42.42% |
| 2003-06-03 | 39.22% |
| 2003-03-31 | 39.63% |
| 2002-12-31 | 42.77% |
| 2002-09-30 | 47.40% |
