Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the gross margin high or low?
The gross margin of 32.77% is in line with its 5-year average of 30.34%, near the high end of its 5-year range (25.74%–33.98%).
As of the fiscal period ended Tuesday, June 30, 2026. 1.95% above its 12-month average of 32.15%.
Reported quarterly gross margin; no daily interpolation.
GROSS MARGIN
32.77%
GROSS MARGIN AVG TTM
32.15%
GROSS MARGIN AVG 3Y
31.85%
GROSS MARGIN AVG 5Y
30.34%
GROSS MARGIN AVG 10Y
31.15%
GROSS MARGIN AVG 15Y
29.98%
GROSS MARGIN AVG 20Y
29.26%
CURRENT VS TTM AVG
+1.95%
CURRENT VS 3Y AVG
+2.92%
CURRENT VS 5Y AVG
+8.03%
CURRENT VS 10Y AVG
+5.21%
CURRENT VS 15Y AVG
+9.32%
CURRENT VS 20Y AVG
+12.02%
SECTOR MEDIAN · BASIC MATERIALS
32.86%
median of 42 covered companies
CURRENT VS SECTOR MEDIAN
-0.26%
vs the sector median at left
Air Products and Chemicals, Inc.
Market Cap
$65.67B
Gross Margin
32.77%
TTM Avg
32.15%
3Y Avg
31.85%
5Y Avg
30.34%
Market Cap
$61.54B
Gross Margin
55.11%
TTM Avg
44.83%
3Y Avg
37.88%
5Y Avg
38.89%
Market Cap
$49.51B
Gross Margin
77.10%
TTM Avg
67.33%
3Y Avg
61.05%
5Y Avg
58.74%
Market Cap
$82.74B
Gross Margin
49.07%
TTM Avg
48.70%
3Y Avg
46.55%
5Y Avg
46.05%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Air Products and Chemicals, Inc. (APD) | $65.67B | 32.77% | 32.15% | 31.85% | 30.34% |
| Vale S.A. (VALE)vs › | $64.22B | 34.52% | 35.30% | 39.54% | 45.64% |
| CRH plc (CRH)vs › | $63.49B | 35.79% | 35.92% | 34.78% | 34.13% |
| Barrick Mining Corporation (B)vs › | $61.54B | 55.11% | 44.83% | 37.88% | 38.89% |
| Nucor Corporation (NUE)vs › | $58.60B | 15.47% | 12.64% | 19.48% | 19.86% |
| Ecolab Inc. (ECL)vs › | $78.14B | 44.51% | 43.99% | 41.63% | 41.51% |
| Corteva, Inc. (CTVA)vs › | $52.64B | 43.59% | 43.62% | 42.46% | 41.85% |
| Wheaton Precious Metals Corp. (WPM)vs › | $49.51B | 77.10% | 67.33% | 61.05% | 58.74% |
| The Sherwin-Williams Company (SHW)vs › | $82.74B | 49.07% | 48.70% | 46.55% | 46.05% |
| Johnson Controls International plc (JCI)vs › | $88.84B | 36.65% | 35.81% | 35.26% | 34.71% |
Gross Margin
32.8%
(Revenue - COGS) / Revenue
Gross Margin = Gross Profit / Revenue
Gross margin is the percentage of revenue remaining after the cost of goods sold, reflecting core product profitability.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | GROSS MARGIN |
|---|---|
| 2026-06-30 | 32.77% |
| 2026-03-31 | 31.13% |
| 2025-12-31 | 32.07% |
| 2025-09-30 | 32.25% |
| 2025-06-30 | 32.51% |
| 2025-03-31 | 29.57% |
| 2024-12-31 | 31.21% |
| 2024-09-30 | 33.98% |
| 2024-06-30 | 32.81% |
| 2024-03-31 | 32.04% |
| 2023-12-31 | 31.07% |
| 2023-09-30 | 30.84% |
| 2023-06-30 | 31.75% |
| 2023-03-31 | 28.66% |
| 2022-12-31 | 28.42% |
| 2022-09-30 | 26.58% |
| 2022-06-30 | 26.56% |
| 2022-03-31 | 26.94% |
| 2021-12-31 | 25.74% |
| 2021-09-30 | 29.38% |
| 2021-06-30 | 30.82% |
| 2021-03-31 | 30.24% |
| 2020-12-31 | 31.27% |
| 2020-09-30 | 32.48% |
| 2020-06-30 | 34.88% |
| 2020-03-31 | 34.12% |
| 2019-12-31 | 34.07% |
| 2019-09-30 | 34.71% |
| 2019-06-30 | 34.08% |
| 2019-03-31 | 32.59% |
| 2018-12-31 | 30.58% |
| 2018-09-30 | 31.89% |
| 2018-06-30 | 31.59% |
| 2018-03-31 | 30.12% |
| 2017-12-31 | 29.09% |
| 2017-09-30 | 29.86% |
| 2017-06-30 | 29.96% |
| 2017-03-31 | 29.10% |
| 2016-12-31 | 29.98% |
| 2016-09-30 | 33.06% |
| 2016-06-30 | 31.04% |
| 2016-03-31 | 31.75% |
| 2015-12-31 | 30.56% |
| 2015-09-30 | 30.71% |
| 2015-06-30 | 30.52% |
| 2015-03-31 | 29.67% |
| 2014-12-31 | 28.50% |
| 2014-09-30 | 27.81% |
| 2014-06-30 | 27.17% |
| 2014-03-31 | 25.73% |
| 2013-12-31 | 26.70% |
| 2013-09-30 | 27.20% |
| 2013-06-30 | 26.37% |
| 2013-03-31 | 26.99% |
| 2012-12-31 | 25.85% |
| 2012-09-30 | 26.20% |
| 2012-06-30 | 27.75% |
| 2012-03-31 | 26.81% |
| 2011-12-31 | 26.78% |
| 2011-09-30 | 26.85% |
| 2011-06-30 | 26.99% |
| 2011-03-31 | 27.25% |
| 2010-12-31 | 28.06% |
| 2010-09-30 | 27.92% |
| 2010-06-30 | 28.47% |
| 2010-03-31 | 27.58% |
| 2009-12-31 | 27.83% |
| 2009-09-30 | 27.44% |
| 2009-06-30 | 27.77% |
| 2009-03-31 | 26.36% |
| 2008-12-31 | 25.76% |
| 2008-09-30 | 23.73% |
| 2008-06-30 | 26.18% |
| 2008-03-31 | 26.93% |
| 2007-12-31 | 27.70% |
| 2007-09-30 | 27.27% |
| 2007-06-30 | 27.59% |
| 2007-03-31 | 26.24% |
| 2006-12-31 | 27.26% |
| 2006-09-30 | 27.48% |
| 2006-06-30 | 26.30% |
| 2006-03-31 | 24.75% |
| 2005-12-31 | 25.13% |
| 2005-09-30 | 25.86% |
| 2005-06-30 | 26.30% |
| 2005-03-31 | 26.68% |
| 2004-12-31 | 25.89% |
| 2004-09-30 | 25.39% |
| 2004-06-30 | 26.64% |
| 2004-03-31 | 26.23% |
| 2003-12-31 | 26.99% |
| 2003-09-30 | 28.25% |
| 2003-06-30 | 24.82% |
| 2003-03-31 | 25.46% |
| 2002-12-31 | 28.61% |
| 2002-09-30 | 30.50% |
