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Gross Margin

The percentage of revenue remaining after subtracting the direct cost of goods sold (COGS). Shows how much profit a company makes on its core product before overhead.

Formula

Gross Margin = ((Revenue − COGS) / Revenue) × 100
If a company records $100M in revenue and $35M in direct costs, $65M remains after COGS. Its gross margin is 65% (($100M − $35M) ÷ $100M × 100).

How to Interpret

Software companies typically have 70-90% gross margins (low marginal cost per user). Hardware companies 30-50%. Retail 20-40%. Higher margins mean more room for R&D, sales, and profit.

Why It Matters

Gross margin is the ceiling for profitability. A company with 30% gross margin can never have 40% operating margin. It reveals the fundamental economics of the business model — software scales better than hardware because of this.

Top 10

Bottom 10

Gross Margin by Company

All 90 tracked stocks with reported Gross Margin, ranked highest first on the latest quarter each has reported.

1 Robinhood Markets Inc. HOOD Robinhood Markets Inc. +0.1 pp YoY GM95.3%2026Q2 2 Adobe Inc. ADBE Adobe Inc. −0.6 pp YoY GM88.7%2026Q3 3 BitMine Immersion Technologies, Inc. BMNR BitMine Immersion Technologies, Inc. +72.6 pp YoY GM87.7%FY2026Q3 4 Micron Technology, Inc. MU Micron Technology, Inc. +42.1 pp YoY GM86.8%FY2026Q4 5 Eli Lilly and Company LLY Eli Lilly and Company +1.5 pp YoY GM85.8%2026Q2 6 Palantir Technologies Inc. PLTR Palantir Technologies Inc. +3.9 pp YoY GM84.7%2026Q2 7 Sandisk Corporation SNDK Sandisk Corporation GM84.6%FY2026Q4 8 GitLab Inc. GTLB GitLab Inc. −3.9 pp YoY GM84.1%FY2027Q2 9 Coinbase Global, Inc. COIN Coinbase Global, Inc. +0.8 pp YoY GM83.6%2026Q2 10 SK hynix Inc. SKHY SK hynix Inc. +29.3 pp YoY GM83.2%2026Q2 11 Upstart Holdings, Inc. UPST Upstart Holdings, Inc. +1.2 pp YoY GM83.2%2026Q2 12 Meta Platforms, Inc. META Meta Platforms, Inc. −0.8 pp YoY GM81.4%2026Q2 13 Occidental Petroleum Corporation OXY Occidental Petroleum Corporation +18.1 pp YoY GM81.0%2026Q2 14 UiPath, Inc. PATH UiPath, Inc. −1.8 pp YoY GM80.4%FY2027Q2 15 Docusign, Inc. DOCU Docusign, Inc. +0.4 pp YoY GM79.7%FY2027Q2 16 Okta, Inc. OKTA Okta, Inc. +2.7 pp YoY GM79.6%2026Q3 17 Unity Software Inc. U Unity Software Inc. +5.4 pp YoY GM79.6%2026Q2 18 Datadog, Inc. DDOG Datadog, Inc. −1.3 pp YoY GM78.6%2026Q2 19 Nebius NBIS Nebius +5.7 pp YoY GM77.1%2026Q2 20 Zscaler, Inc. ZS Zscaler, Inc. +0.7 pp YoY GM76.7%FY2026Q4 21 Salesforce, Inc. CRM Salesforce, Inc. −1.4 pp YoY GM76.7%2026Q3 22 Iris Energy Limited IREN Iris Energy Limited +4.0 pp YoY GM75.7%2026Q2 23 NVIDIA Corporation NVDA NVIDIA Corporation +2.6 pp YoY GM75.0%FY2027Q2 24 AbbVie Inc. ABBV AbbVie Inc. +2.9 pp YoY GM74.7%2026Q2 25 The Charles Schwab Corporation SCHW The Charles Schwab Corporation +0.9 pp YoY GM74.7%2026Q2 26 CrowdStrike Holdings, Inc. CRWD CrowdStrike Holdings, Inc. +1.1 pp YoY GM74.6%FY2027Q2 27 MongoDB, Inc. MDB MongoDB, Inc. +2.8 pp YoY GM73.8%FY2027Q2 28 Cloudflare, Inc. NET Cloudflare, Inc. −3.1 pp YoY GM71.8%2026Q2 29 ServiceNow, Inc. NOW ServiceNow, Inc. −6.8 pp YoY GM70.7%2026Q2 30 JPMorgan Chase & Co. JPM JPMorgan Chase & Co. +5.3 pp YoY GM69.5%2026Q2 31 Broadcom Inc. AVGO Broadcom Inc. +2.0 pp YoY GM69.1%2026Q3 32 Johnson & Johnson JNJ Johnson & Johnson +0.3 pp YoY GM68.2%2026Q2 33 Taiwan Semiconductor Manufacturing Company Limited TSM Taiwan Semiconductor Manufacturing Company Limited +9.1 pp YoY GM67.7%2026Q2 34 Palo Alto Networks, Inc. PANW Palo Alto Networks, Inc. −5.6 pp YoY GM67.6%FY2026Q4 35 Microsoft Corporation MSFT Microsoft Corporation −1.4 pp YoY GM67.2%2026Q2 36 Snowflake Inc. SNOW Snowflake Inc. −0.5 pp YoY GM67.0%FY2027Q2 37 Strategy Inc MSTR Strategy Inc −2.1 pp YoY GM66.6%2026Q2 38 CoreWeave, Inc. CRWV CoreWeave, Inc. −8.4 pp YoY GM65.9%2026Q2 39 Cisco Systems, Inc. CSCO Cisco Systems, Inc. +0.9 pp YoY GM64.1%FY2026Q4 40 Hims & Hers Health, Inc. HIMS Hims & Hers Health, Inc. −12.6 pp YoY GM63.8%2026Q2 41 The Coca-Cola Company KO The Coca-Cola Company +0.5 pp YoY GM62.9%2026Q2 42 Alphabet Inc. GOOGL Alphabet Inc. +2.1 pp YoY GM61.6%2026Q2 43 Oracle Corporation ORCL Oracle Corporation −7.2 pp YoY GM60.0%FY2027Q1 44 Nasdaq, Inc. NDAQ Nasdaq, Inc. −2.9 pp YoY GM59.2%2026Q2 45 Zeta Global Holdings Corp. ZETA Zeta Global Holdings Corp. −3.0 pp YoY GM59.1%2026Q2 46 Vista Energy, S.A.B. de C.V. VIST Vista Energy, S.A.B. de C.V. +10.6 pp YoY GM57.4%2026Q2 47 Vistra Corp. VST Vistra Corp. +2.3 pp YoY GM55.8%2026Q2 48 SpaceX SPCX SpaceX +11.3 pp YoY GM55.3%2026Q2 49 Advanced Micro Devices, Inc. AMD Advanced Micro Devices, Inc. +4.8 pp YoY GM53.8%2026Q2 50 Marvell Technology, Inc. MRVL Marvell Technology, Inc. +2.8 pp YoY GM53.1%FY2027Q2 51 QUALCOMM Incorporated QCOM QUALCOMM Incorporated −2.5 pp YoY GM53.0%FY2026Q3 52 DoorDash, Inc. DASH DoorDash, Inc. +1.9 pp YoY GM52.7%2026Q2 53 Amazon.com, Inc. AMZN Amazon.com, Inc. +0.4 pp YoY GM52.3%2026Q2 54 Netflix, Inc. NFLX Netflix, Inc. 0.0 pp YoY GM51.9%2026Q2 55 Apple Inc. AAPL Apple Inc. +3.6 pp YoY GM50.1%2026Q2 56 The Procter & Gamble Company PG The Procter & Gamble Company −0.6 pp YoY GM48.5%2026Q2 57 Block, Inc. XYZ Block, Inc. +5.7 pp YoY GM47.8%2026Q2 58 Shopify Inc. SHOP Shopify Inc. −0.9 pp YoY GM47.7%2026Q2 59 Chevron Corporation CVX Chevron Corporation +6.1 pp YoY GM45.5%2026Q2 60 Uber Technologies, Inc. UBER Uber Technologies, Inc. +5.1 pp YoY GM44.9%2026Q2 61 Nokia Corporation NOK Nokia Corporation +1.2 pp YoY GM44.6%2026Q2 62 Generac Holdings Inc. GNRC Generac Holdings Inc. +5.2 pp YoY GM44.5%2026Q2 63 Grab Holdings Limited GRAB Grab Holdings Limited +0.4 pp YoY GM43.6%2026Q2 64 Klarna Group plc KLAR Klarna Group plc +4.5 pp YoY GM42.8%2026Q2 65 Siemens AG SIEGY Siemens AG +2.0 pp YoY GM40.9%FY2026Q3 66 Intel Corporation INTC Intel Corporation +12.8 pp YoY GM40.4%2026Q2 67 Baidu, Inc. BIDU Baidu, Inc. −4.9 pp YoY GM39.0%2026Q2 68 Alibaba Group Holding Limited BABA Alibaba Group Holding Limited −6.7 pp YoY GM38.2%2026Q2 69 Vertiv Holdings Co VRT Vertiv Holdings Co +3.7 pp YoY GM37.7%2026Q2 70 Rocket Lab Corporation RKLB Rocket Lab Corporation +4.0 pp YoY GM36.1%2026Q2 71 Corning Incorporated GLW Corning Incorporated +0.1 pp YoY GM36.1%2026Q2 72 Moderna, Inc. MRNA Moderna, Inc. +19.7 pp YoY GM35.9%2026Q2 73 GE Aerospace GE GE Aerospace −2.9 pp YoY GM35.0%2026Q2 74 The Home Depot, Inc. HD The Home Depot, Inc. +0.3 pp YoY GM33.7%FY2026Q2 75 Bloom Energy Corporation BE Bloom Energy Corporation +6.7 pp YoY GM33.4%2026Q2 76 Walmart Inc. WMT Walmart Inc. +1.0 pp YoY GM26.1%FY2027Q2 77 AST SpaceMobile, Inc. ASTS AST SpaceMobile, Inc. GM25.2%2026Q2 78 Exxon Mobil Corporation XOM Exxon Mobil Corporation +0.4 pp YoY GM23.8%2025Q4 79 GE Vernova Inc. GEV GE Vernova Inc. +1.0 pp YoY GM21.2%2026Q2 80 Dell Technologies Inc. DELL Dell Technologies Inc. +2.6 pp YoY GM20.9%FY2027Q2 81 Amcor plc AMCR Amcor plc +3.3 pp YoY GM20.9%FY2026Q4 82 XPeng Inc. XPEV XPeng Inc. +3.4 pp YoY GM20.7%2026Q2 83 Xiaomi Corporation XIACY Xiaomi Corporation −2.7 pp YoY GM19.8%2026Q2 84 Carvana Co. CVNA Carvana Co. −3.2 pp YoY GM18.8%2026Q2 85 NIO Inc. NIO NIO Inc. +8.4 pp YoY GM18.4%2026Q2 86 Super Micro Computer, Inc. SMCI Super Micro Computer, Inc. +8.0 pp YoY GM17.5%FY2026Q4 87 Tesla, Inc. TSLA Tesla, Inc. −0.7 pp YoY GM16.8%2026Q2 88 UnitedHealth Group Incorporated UNH UnitedHealth Group Incorporated −4.8 pp YoY GM16.3%2025Q4 89 Cerebras Systems Inc. CBRS Cerebras Systems Inc. −16.9 pp YoY GM14.2%2026Q2 90 Costco Wholesale Corporation COST Costco Wholesale Corporation −0.2 pp YoY GM12.7%FY2026Q4

FY — quarters on the company's own off-calendar fiscal year; unprefixed quarters follow the calendar year.

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