ESS Essex Property Trust margins

Relative Growth: Rel. Growth:

Relative Strength: Rel. Strength:

Relative Valuation: Rel. Valuation:

Relative Profitability: Rel. Profitability: 54

Gross margin

67.8%

Operating margin

29%

EBITDA margin

62.9%

Net margin

17.8%

The Essex Property Trust reports a gross margin of 67.8%, an operating margin of 29%, an EBITDA margin of 62.9%, and a net margin of 17.8%. EBITDA margin declined by 28.6 percentage points, while other available margins were unchanged.

ESS margin history

Gross, operating, EBITDA and net margin trends

Over the last 3 years, Essex Property Trust's margins averaged 67.97% gross, 30.6% operating, 78.28% EBITDA, and 32.5% net. Compared with their three-year averages, all four current margins are lower.

ESS margin expansion

Year-over-year margin changes in percentage points

From the same period last year, operating margin contracted by 2 percentage points, EBITDA margin by 28.6 percentage points, and net margin by 27.7 percentage points, while gross margin was unchanged.

Gross margin expansion

0pp

Operating margin expansion

-2pp

EBITDA margin expansion

-28.6pp

Net margin expansion

-27.7pp

ESS Gross margin

Across the last 3 years, Essex Property Trust's gross margin stood at 67.97%. The current gross margin stands at 67.8%, 0.2 percentage points below its three-year average. Gross margin was highest at 68.2% in Jun 2024 and lowest at 67.8% in Sep 2025.

ESS Operating margin

Essex Property Trust's operating margin averaged 30.6% across the past 3 years. Essex Property Trust's current operating margin is 29% and is 1.6 percentage points below its three-year average. Over the last 3 years, Essex Property Trust's operating margin peaked at 31.9% in Mar 2026 and reached a low of 29% in Sep 2026.

ESS EBITDA margin

Over the last 3 years, the average EBITDA margin for Essex Property Trust was 78.28%. The latest EBITDA margin for Essex Property Trust is 62.9%, 15.4 percentage points below its three-year average. Essex Property Trust's EBITDA margin ranged from a low of 62.9% in Sep 2026 to a high of 91.5% in Sep 2025.

ESS Net margin

Reviewing the last 3 years, Essex Property Trust recorded an average net margin of 32.5%. At present, Essex Property Trust's current net margin is 17.8%, which is 14.7 percentage points below its three-year average. The highest net margin for Essex Property Trust was 45.5% in Sep 2025, while the lowest was 17.8% in Sep 2026.

ESS margin group comparison

Margins compared with peer-group, industry and sector averages

With a gross margin of 67.8%, ESS is above the Real Estate sector, the industry and its peers average. Compared to its Real Estate sector average of 60.8%, Essex Property Trust's gross margin is 12% higher.

ESS margin peer comparison

Compare margins with selected peers

Frequently asked questions

What is Essex Property Trust's gross margin?

As of Sep 30, 2026, ESS has a gross margin of 67.8%.

What is Essex Property Trust's operating margin?

As of Sep 30, 2026, ESS has an operating margin of 29%.

What is Essex Property Trust's EBITDA margin?

For the period ending Sep 30, 2026, ESS recorded an EBITDA margin of 62.9%.

What is Essex Property Trust's net margin?

The current net margin for ESS is 17.8% as of Sep 30, 2026.

What are the average margins of ESS?

The three-year average margins for ESS were 68.0% gross, 30.6% operating, 78.3% EBITDA, and 32.5% net.

What are the highest historical margins of ESS?

Over the last 5 years, Essex Property Trust's highest margins were 68.6% gross in Mar 2023, 31.9% operating in Mar 2026, 91.5% EBITDA in Sep 2025, and 45.5% net in Sep 2025.

What are the lowest historical margins of ESS?

Looking back across 5 years, ESS reached its lowest margins at 66.6% gross in Dec 2021, 26.9% operating in Dec 2021, 62.9% EBITDA in Sep 2026, and 17.8% net in Sep 2026.