Gross margin (Gross mgn)
What is left of each unit of revenue after the direct cost of producing it.
A high and stable gross margin is the clearest financial fingerprint of pricing power.
How it is computed here
(Revenue - cost of revenue) / revenue x 100
Combines more than one basis. See the note. The pipeline prefers the data vendor's published trailing-twelve-month ratio when one exists, and falls back to recomputing from the latest filed fiscal year when it does not. Those two are different measurements: the vendor figure puts twelve months of flow over the most recent quarterly balance sheet. The source trail on each figure names which path produced it. Filed under quality. Higher is the stronger reading, other things equal.
No published threshold exists for this figure, so this page prints none. Read it against the company's own history and its peers instead.
When it misleads
- There is no cross-industry threshold worth printing. The peer percentile against companies in the same industry is the only defensible reading.
- What sits above and below the gross-profit line is a reporting choice. Two comparable companies can classify the same cost differently.
- Banks and insurers do not report a cost of revenue, so there is no gross margin to compute.
Not meaningful for banks, insurers: the product prints n/m with the reason rather than a number for them.
Ten filed years of it, company by company
Any covered company has the page at /metrics/gross-margin/TICKER. These are the ones with at least 5 computed years among the largest companies covered, listed alphabetically.
AAPL · ABBV · ABT · ADI · AMAT · AMD · AMGN · AMZN · ANET · APH · ASML · AVGO · AZN · BABA · BLK · BUD · CAT · COP · COST · CRM · CRWD · CSCO · CVX · DELL · DHR · ETN · GE · GEV · GILD · GOOG · HD · IBM · INTC · JNJ · KLAC · KO · LLY · LRCX · META · MRK · MRVL · MSFT · MU · NFLX · NOW · NVDA · NVO · PANW · PBR · PEP · PFE · PG · PLTR · PM · QCOM · SAP · SCCO · SHOP · SNDK · STX · TJX · TSLA · TSM · TXN · UNH · WMT
Questions
How is gross margin calculated?
(Revenue - cost of revenue) / revenue x 100. Combines more than one basis. See the note. The pipeline prefers the data vendor's published trailing-twelve-month ratio when one exists, and falls back to recomputing from the latest filed fiscal year when it does not. Those two are different measurements: the vendor figure puts twelve months of flow over the most recent quarterly balance sheet. The source trail on each figure names which path produced it.
What does gross margin tell a value investor?
A high and stable gross margin is the clearest financial fingerprint of pricing power.
When does gross margin mislead?
There is no cross-industry threshold worth printing. The peer percentile against companies in the same industry is the only defensible reading. What sits above and below the gross-profit line is a reporting choice. Two comparable companies can classify the same cost differently. Banks and insurers do not report a cost of revenue, so there is no gross margin to compute.