Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the gross margin high or low?
The gross margin of 27.05% is 63% below its 5-year average of 72.78%, near the low end of its 5-year range (27.05%–78.04%).
As of the fiscal period ended Tuesday, March 31, 2026. 58.99% below its 12-month average of 65.98%.
Reported quarterly gross margin; no daily interpolation.
GROSS MARGIN
27.05%
GROSS MARGIN AVG TTM
65.98%
GROSS MARGIN AVG 3Y
74.98%
GROSS MARGIN AVG 5Y
74.91%
GROSS MARGIN AVG 10Y
74.19%
GROSS MARGIN AVG 15Y
73.46%
GROSS MARGIN AVG 20Y
N/A
CURRENT VS TTM AVG
-58.99%
CURRENT VS 3Y AVG
-63.92%
CURRENT VS 5Y AVG
-63.88%
CURRENT VS 10Y AVG
-63.53%
CURRENT VS 15Y AVG
-63.17%
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · REAL ESTATE
40.22%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
-32.72%
vs the sector median at left
Terreno Realty Corporation
Market Cap
$7.62B
Gross Margin
27.05%
TTM Avg
65.98%
3Y Avg
74.98%
5Y Avg
74.91%
Market Cap
$8.73B
Gross Margin
22.60%
TTM Avg
47.65%
3Y Avg
60.43%
5Y Avg
64.59%
Market Cap
$8.97B
Gross Margin
68.25%
TTM Avg
69.56%
3Y Avg
69.63%
5Y Avg
70.15%
Market Cap
$9.34B
Gross Margin
88.95%
TTM Avg
87.80%
3Y Avg
87.76%
5Y Avg
87.69%
Market Cap
$10.72B
Gross Margin
9.73%
TTM Avg
38.58%
3Y Avg
52.97%
5Y Avg
57.31%
Market Cap
$11.14B
Gross Margin
61.41%
TTM Avg
61.30%
3Y Avg
61.88%
5Y Avg
61.30%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Terreno Realty Corporation (TRNO) | $7.62B | 27.05% | 65.98% | 74.98% | 74.91% |
| First Industrial Realty Trust, Inc. (FR)vs › | $8.73B | 22.60% | 47.65% | 60.43% | 64.59% |
| Alexandria Real Estate Equities, Inc. (ARE)vs › | $8.97B | 68.25% | 69.56% | 69.63% | 70.15% |
| NNN REIT, Inc. (NNN)vs › | $9.04B | 38.00% | 67.14% | 81.86% | 86.54% |
| Agree Realty Corporation (ADC)vs › | $9.34B | 88.95% | 87.80% | 87.76% | 87.69% |
| CubeSmart (CUBE)vs › | $9.42B | 22.74% | 46.47% | 58.95% | 62.46% |
| Federal Realty Investment Trust (FRT)vs › | $10.72B | 9.73% | 38.58% | 52.97% | 57.31% |
| Camden Property Trust (CPT)vs › | $11.14B | 61.41% | 61.30% | 61.88% | 61.30% |
| BXP, Inc. (BXP)vs › | $11.18B | 60.20% | 60.88% | 62.02% | 62.51% |
| Apple Hospitality REIT, Inc. (APLE)vs › | $3.90B | 6.38% | 20.98% | 28.67% | 28.18% |
Gross Margin
27.1%
(Revenue - COGS) / Revenue
Gross Margin = Gross Profit / Revenue
Gross margin is the percentage of revenue remaining after the cost of goods sold, reflecting core product profitability.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | GROSS MARGIN |
|---|---|
| 2026-03-31 | 27.05% |
| 2025-12-31 | 78.04% |
| 2025-09-30 | 75.71% |
| 2025-06-30 | 75.13% |
| 2025-03-31 | 73.95% |
| 2024-12-31 | 73.17% |
| 2024-09-30 | 74.31% |
| 2024-06-30 | 74.78% |
| 2024-03-31 | 75.43% |
| 2023-12-31 | 75.11% |
| 2023-09-30 | 75.25% |
| 2023-06-30 | 76.60% |
| 2023-03-31 | 75.31% |
| 2022-12-31 | 76.33% |
| 2022-09-30 | 75.74% |
| 2022-06-30 | 74.25% |
| 2022-03-31 | 73.60% |
| 2021-12-31 | 74.96% |
| 2021-09-30 | 75.20% |
| 2021-06-30 | 75.07% |
| 2021-03-31 | 73.34% |
| 2020-12-31 | 73.35% |
| 2020-09-30 | 74.06% |
| 2020-06-30 | 73.89% |
| 2020-03-31 | 73.49% |
| 2019-12-31 | 73.77% |
| 2019-09-30 | 74.67% |
| 2019-06-30 | 74.34% |
| 2019-03-31 | 73.84% |
| 2018-12-31 | 73.88% |
| 2018-09-30 | 74.97% |
| 2018-06-30 | 72.31% |
| 2018-03-31 | 73.34% |
| 2017-12-31 | 71.55% |
| 2017-09-30 | 73.18% |
| 2017-06-30 | 74.21% |
| 2017-03-31 | 72.82% |
| 2016-12-31 | 72.58% |
| 2016-09-30 | 73.11% |
| 2016-06-30 | 72.49% |
| 2016-03-31 | 69.78% |
| 2015-12-31 | 71.39% |
| 2015-09-30 | 73.67% |
| 2015-06-30 | 74.43% |
| 2015-03-31 | 69.18% |
| 2014-12-31 | 72.41% |
| 2014-09-30 | 73.06% |
| 2014-06-30 | 73.55% |
| 2014-03-31 | 69.49% |
| 2013-12-31 | 72.44% |
| 2013-09-30 | 71.44% |
| 2013-06-30 | 72.19% |
| 2013-03-31 | 71.49% |
| 2012-12-31 | 69.51% |
| 2012-09-30 | 73.06% |
| 2012-06-30 | 72.36% |
| 2012-03-31 | 71.12% |
| 2011-12-31 | 69.62% |
| 2011-09-30 | 64.81% |
| 2011-06-30 | 60.49% |
| 2011-03-31 | 56.59% |
| 2010-12-31 | 68.33% |
| 2010-09-30 | 67.76% |
| 2010-06-30 | 66.97% |
| 2010-03-31 | 50.00% |
