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 63.79% is in line with its 5-year average of 70.02%, around the middle of its 5-year range (42.07%–75.58%).
As of the fiscal period ended Tuesday, June 30, 2026. 2.52% below its 12-month average of 65.44%.
Reported quarterly gross margin; no daily interpolation.
GROSS MARGIN
63.79%
GROSS MARGIN AVG TTM
65.44%
GROSS MARGIN AVG 3Y
73.34%
GROSS MARGIN AVG 5Y
71.82%
GROSS MARGIN AVG 10Y
68.29%
GROSS MARGIN AVG 15Y
67.68%
GROSS MARGIN AVG 20Y
67.31%
CURRENT VS TTM AVG
-2.52%
CURRENT VS 3Y AVG
-13.02%
CURRENT VS 5Y AVG
-11.18%
CURRENT VS 10Y AVG
-6.60%
CURRENT VS 15Y AVG
-5.74%
CURRENT VS 20Y AVG
-5.23%
SECTOR MEDIAN · REAL ESTATE
40.59%
median of 40 covered companies
CURRENT VS SECTOR MEDIAN
+57.14%
vs the sector median at left
Market Cap
$31.21B
Gross Margin
27.87%
TTM Avg
52.37%
3Y Avg
65.12%
5Y Avg
68.48%
Market Cap
$28.58B
Gross Margin
99.22%
TTM Avg
99.22%
3Y Avg
99.21%
5Y Avg
98.79%
Market Cap
$38.18B
Gross Margin
25.69%
TTM Avg
40.92%
3Y Avg
48.98%
5Y Avg
51.92%
Market Cap
$26.94B
Gross Margin
67.92%
TTM Avg
65.07%
3Y Avg
64.75%
5Y Avg
64.34%
Market Cap
$18.86B
Gross Margin
69.44%
TTM Avg
68.44%
3Y Avg
68.51%
5Y Avg
73.96%
Market Cap
$18.41B
Gross Margin
41.61%
TTM Avg
59.46%
3Y Avg
67.28%
5Y Avg
70.11%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Crown Castle Inc. (CCI) | $32.73B | 63.79% | 65.44% | 73.34% | 71.82% |
| Extra Space Storage Inc. (EXR)vs › | $31.21B | 27.87% | 52.37% | 65.12% | 68.48% |
| VICI Properties Inc. (VICI)vs › | $28.58B | 99.22% | 99.22% | 99.21% | 98.79% |
| Iron Mountain Incorporated (IRM)vs › | $38.18B | 25.69% | 40.92% | 48.98% | 51.92% |
| AvalonBay Communities, Inc. (AVB)vs › | $26.94B | 67.92% | 65.07% | 64.75% | 64.34% |
| Equity Residential (EQR)vs › | $25.44B | 45.96% | 54.80% | 59.31% | 60.52% |
| CBRE Group, Inc. (CBRE)vs › | $40.84B | 14.97% | 17.30% | 18.95% | 19.71% |
| Essex Property Trust, Inc. (ESS)vs › | $18.86B | 69.44% | 68.44% | 68.51% | 73.96% |
| SBA Communications Corporation (SBAC)vs › | $18.41B | 41.61% | 59.46% | 67.28% | 70.11% |
| Invitation Homes Inc. (INVH)vs › | $17.69B | 3.69% | 31.36% | 45.88% | 50.67% |
Gross Margin
63.8%
(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 |
|---|---|
| 2026-06-30 | 63.79% |
| 2026-03-31 | 73.66% |
| 2025-12-31 | 42.07% |
| 2025-09-30 | 73.88% |
| 2025-06-30 | 73.77% |
| 2025-03-31 | 74.74% |
| 2024-12-31 | 71.86% |
| 2024-09-30 | 72.15% |
| 2024-06-30 | 75.25% |
| 2024-03-31 | 75.58% |
| 2023-12-31 | 72.94% |
| 2023-09-30 | 70.85% |
| 2023-06-30 | 72.04% |
| 2023-03-31 | 70.73% |
| 2022-12-31 | 70.52% |
| 2022-09-30 | 69.99% |
| 2022-06-30 | 70.36% |
| 2022-03-31 | 70.78% |
| 2021-12-31 | 68.32% |
| 2021-09-30 | 68.36% |
| 2021-06-30 | 68.79% |
| 2021-03-31 | 68.89% |
| 2020-12-31 | 65.04% |
| 2020-09-30 | 67.23% |
| 2020-06-30 | 66.25% |
| 2020-03-31 | 66.64% |
| 2019-12-31 | 64.24% |
| 2019-09-30 | 65.25% |
| 2019-06-30 | 65.31% |
| 2019-03-31 | 65.55% |
| 2018-12-31 | 65.75% |
| 2018-09-30 | 65.53% |
| 2018-06-30 | 65.86% |
| 2018-03-31 | 66.67% |
| 2017-12-31 | 64.57% |
| 2017-09-30 | 63.50% |
| 2017-06-30 | 64.07% |
| 2017-03-31 | 64.17% |
| 2016-12-31 | 62.01% |
| 2016-09-30 | 63.11% |
| 2016-06-30 | 63.77% |
| 2016-03-31 | 64.30% |
| 2015-12-31 | 63.84% |
| 2015-09-30 | 63.64% |
| 2015-06-30 | 63.71% |
| 2015-03-31 | 64.56% |
| 2014-12-31 | 62.28% |
| 2014-09-30 | 62.77% |
| 2014-06-30 | 62.55% |
| 2014-03-31 | 65.64% |
| 2013-12-31 | 65.10% |
| 2013-09-30 | 64.76% |
| 2013-06-30 | 66.09% |
| 2013-03-31 | 65.55% |
| 2012-12-31 | 67.75% |
| 2012-09-30 | 70.17% |
| 2012-06-30 | 70.65% |
| 2012-03-31 | 72.02% |
| 2011-12-31 | 71.34% |
| 2011-09-30 | 71.43% |
| 2011-06-30 | 70.61% |
| 2011-03-31 | 70.82% |
| 2010-12-31 | 69.19% |
| 2010-09-30 | 70.33% |
| 2010-06-30 | 68.12% |
| 2010-03-31 | 68.48% |
| 2009-12-31 | 66.92% |
| 2009-09-30 | 68.18% |
| 2009-06-30 | 67.21% |
| 2009-03-31 | 67.30% |
| 2008-12-31 | 65.33% |
| 2008-09-30 | 64.54% |
| 2008-06-30 | 64.28% |
| 2008-03-31 | 64.71% |
| 2007-12-31 | 64.02% |
| 2007-09-30 | 63.36% |
| 2007-06-30 | 63.00% |
| 2007-03-31 | 62.51% |
| 2006-12-31 | 65.53% |
| 2006-09-30 | 65.17% |
| 2006-06-30 | 65.52% |
| 2006-03-31 | 65.25% |
| 2005-12-31 | 62.66% |
| 2005-09-30 | 62.84% |
| 2005-06-30 | 62.67% |
| 2005-03-31 | 62.07% |
| 2004-12-31 | 55.42% |
| 2004-09-30 | 62.37% |
| 2004-06-30 | 61.71% |
| 2004-03-31 | 61.60% |
| 2003-12-31 | 55.28% |
| 2003-09-30 | 63.47% |
| 2003-06-30 | 61.25% |
| 2003-03-31 | 54.64% |
| 2002-12-31 | 51.47% |
| 2002-09-30 | 48.12% |
