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 37.85% is 23% below its 5-year average of 49.20%, near the low end of its 5-year range (37.85%–70.62%).
As of the fiscal period ended Tuesday, June 30, 2026. 21.50% below its 12-month average of 48.22%.
Reported quarterly operating margin; no daily interpolation.
OPERATING MARGIN
37.85%
OPERATING MARGIN AVG TTM
48.22%
OPERATING MARGIN AVG 3Y
48.26%
OPERATING MARGIN AVG 5Y
49.21%
OPERATING MARGIN AVG 10Y
50.39%
OPERATING MARGIN AVG 15Y
49.81%
OPERATING MARGIN AVG 20Y
48.48%
CURRENT VS TTM AVG
-21.50%
CURRENT VS 3Y AVG
-21.56%
CURRENT VS 5Y AVG
-23.07%
CURRENT VS 10Y AVG
-24.88%
CURRENT VS 15Y AVG
-24.00%
CURRENT VS 20Y AVG
-21.91%
SECTOR MEDIAN · REAL ESTATE
28.86%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
+31.16%
vs the sector median at left
Public Storage
Market Cap
$60.45B
Operating Margin
37.85%
TTM Avg
48.22%
3Y Avg
48.26%
5Y Avg
49.21%
Market Cap
$59.56B
Operating Margin
29.27%
TTM Avg
36.16%
3Y Avg
38.42%
5Y Avg
41.26%
Market Cap
$69.75B
Operating Margin
17.87%
TTM Avg
9.63%
3Y Avg
10.35%
5Y Avg
11.89%
Market Cap
$74.38B
Operating Margin
48.28%
TTM Avg
50.88%
3Y Avg
50.05%
5Y Avg
48.36%
Market Cap
$80.78B
Operating Margin
44.40%
TTM Avg
45.23%
3Y Avg
37.52%
5Y Avg
36.57%
Market Cap
$36.39B
Operating Margin
18.01%
TTM Avg
18.39%
3Y Avg
18.54%
5Y Avg
19.29%
Market Cap
$33.34B
Operating Margin
47.74%
TTM Avg
2.01%
3Y Avg
18.16%
5Y Avg
22.69%
| NAME | MARKET CAP | OPERATING MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Public Storage (PSA) | $60.45B | 37.85% | 48.22% | 48.26% | 49.21% |
| Realty Income Corporation (O)vs › | $59.56B | 29.27% | 36.16% | 38.42% | 41.26% |
| Digital Realty Trust, Inc. (DLR)vs › | $69.75B | 17.87% | 9.63% | 10.35% | 11.89% |
| Simon Property Group, Inc. (SPG)vs › | $74.38B | 48.28% | 50.88% | 50.05% | 48.36% |
| Ventas, Inc. (VTR)vs › | $45.46B | 6.61% | 14.00% | 12.24% | 12.59% |
| CBRE Group, Inc. (CBRE)vs › | $42.51B | 3.61% | 3.57% | 3.89% | 4.25% |
| American Tower Corporation (AMT)vs › | $80.78B | 44.40% | 45.23% | 37.52% | 36.57% |
| Iron Mountain Incorporated (IRM)vs › | $36.39B | 18.01% | 18.39% | 18.54% | 19.29% |
| Crown Castle Inc. (CCI)vs › | $33.34B | 47.74% | 2.01% | 18.16% | 22.69% |
| Extra Space Storage Inc. (EXR)vs › | $31.28B | 43.37% | 41.87% | 45.48% | 48.48% |
Gross Margin
25.0%
Operating Margin
37.9%
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 | 37.85% |
| 2026-03-31 | 38.95% |
| 2025-12-31 | 45.79% |
| 2025-09-30 | 70.62% |
| 2025-06-30 | 47.89% |
| 2025-03-31 | 45.93% |
| 2024-12-31 | 46.99% |
| 2024-09-30 | 47.11% |
| 2024-06-30 | 47.92% |
| 2024-03-31 | 45.47% |
| 2023-12-31 | 50.05% |
| 2023-09-30 | 52.05% |
| 2023-06-30 | 53.40% |
| 2023-03-31 | 51.85% |
| 2022-12-31 | 52.27% |
| 2022-09-30 | 51.54% |
| 2022-06-30 | 51.29% |
| 2022-03-31 | 48.00% |
| 2021-12-31 | 49.76% |
| 2021-09-30 | 48.94% |
| 2021-06-30 | 49.47% |
| 2021-03-31 | 48.54% |
| 2020-12-31 | 51.59% |
| 2020-09-30 | 48.14% |
| 2020-06-30 | 45.72% |
| 2020-03-31 | 47.37% |
| 2019-12-31 | 54.32% |
| 2019-09-30 | 50.86% |
| 2019-06-30 | 50.79% |
| 2019-03-31 | 49.84% |
| 2018-12-31 | 55.20% |
| 2018-09-30 | 50.81% |
| 2018-06-30 | 50.10% |
| 2018-03-31 | 48.90% |
| 2017-12-31 | 56.49% |
| 2017-09-30 | 52.47% |
| 2017-06-30 | 53.67% |
| 2017-03-31 | 50.61% |
| 2016-12-31 | 57.47% |
| 2016-09-30 | 53.22% |
| 2016-06-30 | 53.12% |
| 2016-03-31 | 50.72% |
| 2015-12-31 | 56.76% |
| 2015-09-30 | 52.44% |
| 2015-06-30 | 50.98% |
| 2015-03-31 | 46.30% |
| 2014-12-31 | 53.47% |
| 2014-09-30 | 49.30% |
| 2014-06-30 | 49.38% |
| 2014-03-31 | 41.78% |
| 2013-12-31 | 51.31% |
| 2013-09-30 | 48.83% |
| 2013-06-30 | 48.99% |
| 2013-03-31 | 44.86% |
| 2012-12-31 | 52.54% |
| 2012-09-30 | 48.31% |
| 2012-06-30 | 46.52% |
| 2012-03-31 | 42.04% |
| 2011-12-31 | 50.08% |
| 2011-09-30 | 44.86% |
| 2011-06-30 | 44.54% |
| 2011-03-31 | 41.15% |
| 2010-12-31 | 53.27% |
| 2010-09-29 | 44.11% |
| 2010-06-30 | 43.04% |
| 2010-03-31 | 40.73% |
| 2009-12-31 | 45.84% |
| 2009-09-30 | 44.17% |
| 2009-06-30 | 42.51% |
| 2009-03-31 | 39.34% |
| 2008-12-31 | 41.46% |
| 2008-09-30 | 45.64% |
| 2008-06-30 | 33.62% |
| 2008-03-31 | 29.62% |
| 2007-12-31 | 46.78% |
| 2007-09-30 | 27.40% |
| 2007-06-30 | 16.29% |
| 2007-03-31 | 16.76% |
| 2006-12-31 | 2.36% |
| 2006-09-30 | 22.79% |
| 2006-06-30 | 44.95% |
| 2006-03-31 | 42.63% |
| 2005-12-31 | 42.26% |
| 2005-09-30 | 45.06% |
| 2005-06-30 | 43.21% |
| 2005-03-31 | 40.62% |
| 2004-12-31 | 44.30% |
| 2004-09-30 | 44.23% |
| 2004-06-30 | 42.77% |
| 2004-03-31 | 38.90% |
| 2003-12-31 | 39.29% |
| 2003-09-30 | 42.61% |
| 2003-06-30 | 40.16% |
| 2003-03-31 | 40.28% |
| 2002-12-31 | 38.31% |
| 2002-09-30 | 43.39% |
