TangerSKT +1.40%78 Operating Margin % is 28.75% as of Mar. 2026, which is 2% below its 10-year median of 29.41. GuruFocus rates SKT with a GF Score™ of 78/100 and a GF Value™ of $34.11 (Modestly Overvalued). The stock has 8 warning signs investors should review. Among 750 REITs companies, Tanger ranks worse than 74.8% on this metric.
Operating Margin % is calculated as Operating Income divided by its Revenue. Tanger's Operating Income for the
three
months ended in Mar. 2026 was $43.2 Mil. Tanger's Revenue for the
three
months ended in Mar. 2026 was $150.4 Mil. Therefore, Tanger's Operating Margin % for the quarter that ended in Mar. 2026 was 28.75%.
Good Sign:
Tanger Inc operating margin is expanding. Margin expansion is usually a good sign.
The historical rank and industry rank for Tanger's Operating Margin % or its related term are showing as below:
SKT'
s Operating Margin % Range Over the Past 10 Years
Min: 22.56 Med: 29.41 Max: 33.03
Current: 30.37
SKT's Operating Margin % is ranked worse than 74.8% of 750
companies
in the REITs industry
Industry Median: 52.67
vs SKT: 30.37
Tanger's 5-Year Average Operating Margin % Growth Rate was 5.50% per year.
Tanger's Operating Income for the
three
months ended in Mar. 2026 was $43.2 Mil.
Its Operating Income for the trailing twelve months (TTM) ended in Mar. 2026 was $181.2 Mil.
Tanger (NYSE:SKT) 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.
Tanger Operating Margin % Related Terms
Tanger Operating Margin % Historical Data
* Premium members only.
The historical data trend for Tanger's Operating Margin % can be seen below:
* 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.
SKT vs PECO, CURB, AKR: Operating Margin % Comparison
For the REIT - Retail subindustry, Tanger'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.
Tanger Operating Margin % vs REITs Industry
For the REITs industry and Real Estate sector, Tanger's Operating Margin % distribution charts can be found below:
* The bar in red indicates where Tanger's Operating Margin % falls into.
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.
Tanger'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.
Tanger (SKT) has a Operating Margin % of 28.75% as of Mar. 2026. Operating margin is the ratio of total operating income to net sales. View historical data on Tanger and its competitors. This is near median its historical median of 29.41. Over the past decade, Tanger's Operating Margin % has ranged from 22.56 to 33.03. According to the industry distribution chart, Tanger ranks #561 out of 750 companies in the REITs industry, placing it in the top 74.8%.
Is Tanger's Operating Margin % too high?
Tanger's current Operating Margin % of 28.75% is near median its 10-year median of 29.41. Over the past 10 years, this metric has ranged from a low of 22.56 to a high of 33.03. The REITs industry median Operating Margin % is 52.67. Tanger's value of 28.75% is 45.4% below this industry median. Based on the distribution chart, Tanger ranks #561 out of 750 companies in the REITs industry, which is below the industry midpoint. Overall, Tanger has a GF Score™ of 78/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Tanger's Operating Margin % compare to PECO and CURB?
According to the REITs industry distribution chart, Tanger ranks #561 out of 750 companies for Operating Margin %. This places Tanger in the lower half of its industry. The industry median Operating Margin % is 52.67. Tanger's value of 28.75% is 45.4% below this benchmark. Historically, Tanger's own Operating Margin % has ranged from 22.56 to 33.03 over the past decade. While the company's 10-year median is 29.41 vs. the industry median of 52.67, Tanger 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 52.67, based on 750 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. Tanger's current Operating Margin % of 28.75% is 45.4% 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 Tanger and its competitors. For the REITs industry, the median Operating Margin % is 52.67 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Tanger's current Operating Margin % is 28.75%, which is near median its own 10-year median of 29.41. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Tanger stock overvalued right now?
Based on GuruFocus' analysis, Tanger (SKT) is currently considered Modestly Overvalued. The stock's GF Value™ is $34.11, compared to a current price of $40.58 — trading 19% above its estimated fair value. The current Operating Margin % is 28.75%, which is near median its 10-year median of 29.41 and 45.4% below the REITs industry median of 52.67. Tanger's overall GF Score™ is 78/100 with 8 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 Tanger (SKT), the current Operating Margin % is 28.75% 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 Tanger (SKT) Overvalued in 2026?
Based on GuruFocus' analysis, Tanger stock appears to be overvalued.
The current stock price of $40.58 is trading 19% above its estimated GF Value™ of $34.11.
GuruFocus considers Tanger to be Modestly Overvalued.
Key valuation signals for SKT:
Operating Margin %: 28.75% (near median its 10-year median of 29.41)
GF Value™: $34.11 vs. price of $40.58 (19% above fair value)
Industry Position: 45.4% below the REITs median (#561 of 750)
No single metric tells the full story. See the SKT stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Tanger Inc is an owner and operator of outlet and open-air centers in the United States and Canada. It is a fully-integrated, self-administered and self-managed REIT, which focuses on developing, acquiring, owning, operating and managing outlet and open-air shopping centers. Its consolidated portfolio consisted of 31 outlet centers and 2 open-air lifestyle centers.
78GF Score
Get the complete analysis for SKT
Operating Margin % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
SKT has been successfully added to your 
