Empire State Realty OP LPOGCP 60 Operating Margin % is 15.48% as of Mar. 2026, which is 24% below its 10-year median of 20.26. GuruFocus rates OGCP with a GF Score™ of 60/100 and a GF Value™ of $8.91 (Possible Value Trap). The stock has 6 warning signs investors should review. Among 749 REITs companies, Empire State Realty OP LP ranks worse than 83.04% on this metric.
Empire State Realty OP LP (ARCA:OGCP) Operating Margin % Explanation
Just like Gross Margin %, it is important to see a company maintains its operating margin over time. Among the same industry, a company with higher operating margin is more efficient in its operation. It is also more stable during industry slowdown or recessions. Peter Lynch prefers those with higher margins than those with lower margins.
Be Aware
Operating Margin % can be manipulated by adjusting the rate of depreciation, depletion and amortization (DDA).
If a company is facing competition, its Operating Margin % may decline. Often the Operating Margin % declines well before the company's Revenue or even profit decline. Therefore, Operating Margin % is a very important indicator of whether the company is facing problems.
For instance, by 2012, Nokia (NOK)'s problems were well known and its stock had lost more than 90% of its market value since 2007. But Nokias Operating Margin % had already been in decline since 2002, although its Earnings per Share (Diluted) were still rising. Investors who paid attention to Operating Margin % would have avoided this huge loss. The same can be said for Research-in-Motion (RIMM).
Therefore, Operating Margin % is a very important screening filter for GuruFocus. GuruFocus's Buffett-Munger screener requires that the profit margin is either consistent or expanding. The Model Portfolio of the Buffett-Munger screener has outperformed the market every year since inception in 2009.
Empire State Realty OP LP Operating Margin % Related Terms
Empire State Realty OP LP Operating Margin % Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Empire State Realty OP LP Operating Margin % Chart
OGCP vs DEI, DEA, PDM: Operating Margin % Comparison
For the REIT - Office subindustry, Empire State Realty OP LP's Operating Margin %, along with its competitors' market caps and Operating Margin % data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Empire State Realty OP LP Operating Margin % vs REITs Industry
For the REITs industry and Real Estate sector, Empire State Realty OP LP's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Empire State Realty OP LP's Operating Margin % falls into.
Empire State Realty OP LP Operating Margin % Calculation
Operating Margin % - also known as operating income margin, operating profit margin and return on sales (ROS) - is the ratio of Operating Income divided by net sales or Revenue, usually presented in percent.
Empire State Realty OP LP's Operating Margin % for the fiscal year that ended in Dec. 2025 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Empire State Realty OP LP (OGCP) has a Operating Margin % of 15.48% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Empire State Realty OP LP and its competitors. This is 24% below median its historical median of 20.26. Over the past decade, Empire State Realty OP LP's Operating Margin % has ranged from 10.65 to 27.19. According to the industry distribution chart, Empire State Realty OP LP ranks #622 out of 749 companies in the REITs industry, placing it in the top 83%.
Is Empire State Realty OP LP's Operating Margin % too high?
Empire State Realty OP LP's current Operating Margin % of 15.48% is 24% below median its 10-year median of 20.26. Over the past 10 years, this metric has ranged from a low of 10.65 to a high of 27.19. The REITs industry median Operating Margin % is 52.71. Empire State Realty OP LP's value of 15.48% is 70.6% below this industry median. Based on the distribution chart, Empire State Realty OP LP ranks #622 out of 749 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Empire State Realty OP LP has a GF Score™ of 60/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Empire State Realty OP LP's Operating Margin % compare to DEI and DEA?
According to the REITs industry distribution chart, Empire State Realty OP LP ranks #622 out of 749 companies for Operating Margin %. This places Empire State Realty OP LP in the lower half of its industry. The industry median Operating Margin % is 52.71. Empire State Realty OP LP's value of 15.48% is 70.6% below this benchmark. Historically, Empire State Realty OP LP's own Operating Margin % has ranged from 10.65 to 27.19 over the past decade. While the company's 10-year median is 20.26 vs. the industry median of 52.71, Empire State Realty OP LP has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Operating Margin % for a REITs company?
The median Operating Margin % among REITs companies is 52.71, based on 749 companies in the industry. Companies in the top quartile (top 25%) have a Operating Margin % significantly above this median, while those in the bottom quartile fall well below. However, Operating Margin % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Empire State Realty OP LP's current Operating Margin % of 15.48% is 70.6% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Operating Margin % mean?
A high Operating Margin % can signal that a stock is expensive relative to its fundamentals. Operating margin is the ratio of total operating income to net sales. View historical data on Empire State Realty OP LP and its competitors. For the REITs industry, the median Operating Margin % is 52.71 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Empire State Realty OP LP's current Operating Margin % is 15.48%, which is 24% below median its own 10-year median of 20.26. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Empire State Realty OP LP stock overvalued right now?
Based on GuruFocus' analysis, Empire State Realty OP LP (OGCP) is currently considered Possible Value Trap. The stock's GF Value™ is $8.91, compared to a current price of $5.75 — trading 35.5% below its estimated fair value. The current Operating Margin % is 15.48%, which is 24% below median its 10-year median of 20.26 and 70.6% below the REITs industry median of 52.71. Empire State Realty OP LP's overall GF Score™ is 60/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Operating Margin % calculated?
Operating Margin % is calculated from a company's financial statements. For Empire State Realty OP LP (OGCP), the current Operating Margin % is 15.48% as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Empire State Realty OP LP (OGCP) Overvalued in 2026?
Based on GuruFocus' analysis, Empire State Realty OP LP stock appears to be undervalued.
The current stock price of $5.75 is trading 35.5% below its estimated GF Value™ of $8.91.
GuruFocus considers Empire State Realty OP LP to be Possible Value Trap.
Key valuation signals for OGCP:
Operating Margin %: 15.48% (24% below median its 10-year median of 20.26)
GF Value™: $8.91 vs. price of $5.75 (35.5% below fair value)
Industry Position: 70.6% below the REITs median (#622 of 749)
No single metric tells the full story. See the OGCP stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Empire State Realty OP LP is an NYC-focused real estate investment trust (REIT) that owns and operates a portfolio of well-leased, top-of-tier, modernized, amenitized, and well-located office, retail, and multifamily assets, conducts all of its business, and owns substantially all of its assets. The firm operates in two segments, Real Estate and Observatory. Through the Real Estate segment, it offers services related to the ownership, management, operation, acquisition, repositioning, and disposition of its real estate assets. Under the Observatory segment, it operates the two observatories of the Empire State Building. The company generates maximum revenue from the Real Estate segment.
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