You don't want to look at margins by subtracting expenses from revenue. For a growing company, this can be zero or even negative. The key thing is this: Are cus

You don't want to look at margins by subtracting expenses from revenue. For a growing company, this can be zero or even negative. The key thing is this: Are customers paying top dollars for the space they sell then elsewhere? That answer seems to be yes which means they have better margin than competitors given their brand and amnesties. However, they might decide to reinvest all that money to build assets in other markets which will put their balancesheet in red.