What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Independence Realty Trust IRT Operating margin

Discontinued — last reported Q1 '19

Operating margin at other companies

Equity ResidentialEQR

40.4%+4.3pp

AvalonBay CommunitiesAVB

67%+0.9pp

Essential Properties Realty TrustEPRT

62.6%+0.5pp

Equity Lifestyle PropertiesELS

25.6%+1.0pp

New York Mortgage TrustADAM

29%+23.4pp

Kimco RealtyKIM

36.9%+4.1pp

Other financials

Income statement

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Revenue$165.3M+2.5%

Net income-$127.0K-101%

EPS (diluted)$0.00+100%

Balance sheet

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Cash & equivalents$23.3M-19.7%

Total debt$2.9M+28.3%

Total equity$3.4B-1.8%

Total assets$6.1B+1.9%

Cash flow

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Operating cash flow$55.3M-8.4%

CapEx$1.6M-50.4%

Free cash flow$69.0M+11.6%

Valuation

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Market cap$3.73B-28.5%

Enterprise value$3.71B-28.5%

P/E76×-96.4×

P/S5.6×-2.5×

Profitability

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Gross margin96.1%—

Net margin7.4%+2.7pp

FCF margin42%+3.3pp

Returns & leverage

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Return on equity1.4%+0.6pp

Debt / equity0×0.0×

Where this comes from

Calculated from Independence Realty Trust’s reported figures.

operating income/total revenue=26.9%

Based on trailing twelve months.

The official record: Independence Realty Trust’s 10-Q, filed May 7, 2020, on SEC EDGAR. View the filing →

Questions, answered.

What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.