Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
Is the gross margin high or low?
The gross margin of 38.51% is in line with its 5-year average of 37.64%, near the high end of its 5-year range (36.21%–38.94%).
0.38% above its 12-month average of 38.36%.
Reported quarterly gross margin; no daily interpolation. Q2 FY2026 (2026-06-30): 37.99%.
GROSS MARGIN
38.51%
GROSS MARGIN AVG TTM
38.36%
GROSS MARGIN AVG 3Y
37.89%
GROSS MARGIN AVG 5Y
37.64%
GROSS MARGIN AVG 10Y
36.29%
GROSS MARGIN AVG 15Y
36.52%
GROSS MARGIN AVG 20Y
37.12%
CURRENT VS TTM AVG
+0.38%
CURRENT VS 3Y AVG
+1.64%
CURRENT VS 5Y AVG
+2.32%
CURRENT VS 10Y AVG
+6.11%
CURRENT VS 15Y AVG
+5.44%
CURRENT VS 20Y AVG
+3.74%
SECTOR MEDIAN · TECHNOLOGY
48.18%
median of 483 covered companies
CURRENT VS SECTOR MEDIAN
-20.07%
vs the sector median at left
ExlService Holdings, Inc.
Market Cap
$5.44B
Gross Margin
38.51%
TTM Avg
38.36%
3Y Avg
37.89%
5Y Avg
37.64%
Market Cap
$5.35B
Gross Margin
11.88%
TTM Avg
17.80%
3Y Avg
15.37%
5Y Avg
20.15%
Market Cap
$5.62B
Gross Margin
77.07%
TTM Avg
81.06%
3Y Avg
83.25%
5Y Avg
83.77%
Market Cap
$5.22B
Gross Margin
48.18%
TTM Avg
42.49%
3Y Avg
42.95%
5Y Avg
44.91%
Market Cap
$5.20B
Gross Margin
49.08%
TTM Avg
49.67%
3Y Avg
50.22%
5Y Avg
51.03%
Market Cap
$5.67B
Gross Margin
28.33%
TTM Avg
28.62%
3Y Avg
29.92%
5Y Avg
31.41%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| ExlService Holdings, Inc. (EXLS) | $5.44B | 38.51% | 38.36% | 37.89% | 37.64% |
| Novanta Inc. (NOVT)vs › | $5.40B | 42.52% | 43.00% | 43.83% | 43.20% |
| Core Scientific, Inc. (CORZ)vs › | $5.35B | 11.88% | 17.80% | 15.37% | 20.15% |
| Maase Inc. (MAAS)vs › | $5.60B | 39.63% | 60.95% | 67.42% | 71.64% |
| Varonis Systems, Inc. (VRNS)vs › | $5.62B | 77.07% | 81.06% | 83.25% | 83.77% |
| Kulicke and Soffa Industries, Inc. (KLIC)vs › | $5.22B | 48.18% | 42.49% | 42.95% | 44.91% |
| ACI Worldwide, Inc. (ACIW)vs › | $5.20B | 49.08% | 49.67% | 50.22% | 51.03% |
| Genpact Limited (G)vs › | $5.67B | 36.58% | 35.51% | 35.31% | 35.28% |
| EPAM Systems, Inc. (EPAM)vs › | $5.67B | 28.33% | 28.62% | 29.92% | 31.41% |
| Navan, Inc. (NAVN)vs › | $5.21B | 72.57% | 67.53% | 62.78% | 62.78% |
Gross Margin
38.5%
(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 | 37.99% |
| 2026-03-31 | 38.94% |
| 2025-12-31 | 38.63% |
| 2025-09-30 | 38.51% |
| 2025-06-30 | 37.75% |
| 2025-03-31 | 38.58% |
| 2024-12-31 | 38.10% |
| 2024-09-30 | 37.76% |
| 2024-06-30 | 37.08% |
| 2024-03-31 | 37.36% |
| 2023-12-31 | 36.67% |
| 2023-09-30 | 37.71% |
| 2023-06-30 | 37.48% |
| 2023-03-31 | 37.23% |
| 2022-12-31 | 36.64% |
| 2022-09-30 | 36.22% |
| 2022-06-30 | 36.21% |
| 2022-03-31 | 36.97% |
| 2021-12-31 | 37.84% |
| 2021-09-30 | 38.78% |
| 2021-06-30 | 37.94% |
| 2021-03-31 | 39.25% |
| 2020-12-31 | 39.43% |
| 2020-09-30 | 36.90% |
| 2020-06-30 | 28.80% |
| 2020-03-31 | 33.88% |
| 2019-12-31 | 34.50% |
| 2019-09-30 | 33.35% |
| 2019-06-30 | 33.29% |
| 2019-03-31 | 34.37% |
| 2018-12-31 | 34.04% |
| 2018-09-30 | 34.17% |
| 2018-06-30 | 33.54% |
| 2018-03-31 | 33.28% |
| 2017-12-31 | 34.62% |
| 2017-09-30 | 35.07% |
| 2017-06-30 | 33.64% |
| 2017-03-31 | 34.37% |
| 2016-12-31 | 34.69% |
| 2016-09-30 | 34.72% |
| 2016-06-30 | 34.29% |
| 2016-03-31 | 35.12% |
| 2015-12-31 | 36.02% |
| 2015-09-30 | 36.88% |
| 2015-06-30 | 35.43% |
| 2015-03-31 | 35.11% |
| 2014-12-31 | 32.46% |
| 2014-09-30 | 30.60% |
| 2014-06-30 | 32.14% |
| 2014-03-31 | 38.49% |
| 2013-12-31 | 41.95% |
| 2013-09-30 | 41.10% |
| 2013-06-30 | 36.27% |
| 2013-03-31 | 37.15% |
| 2012-12-31 | 40.07% |
| 2012-09-30 | 39.05% |
| 2012-06-30 | 38.86% |
| 2012-03-31 | 36.26% |
| 2011-12-31 | 39.54% |
| 2011-09-30 | 38.26% |
| 2011-06-30 | 38.85% |
| 2011-03-31 | 39.35% |
| 2010-12-31 | 40.36% |
| 2010-09-30 | 39.95% |
| 2010-06-30 | 38.25% |
| 2010-03-31 | 42.22% |
| 2009-12-31 | 48.85% |
| 2009-09-30 | 40.23% |
| 2009-06-30 | 39.07% |
| 2009-03-31 | 40.57% |
| 2008-12-31 | 41.56% |
| 2008-09-30 | 39.78% |
| 2008-06-30 | 36.99% |
| 2008-03-31 | 36.48% |
| 2007-12-31 | 39.30% |
| 2007-09-30 | 35.98% |
| 2007-06-30 | 33.06% |
| 2007-03-31 | 38.57% |
| 2006-12-31 | 42.87% |
| 2006-09-30 | 39.74% |
| 2006-06-30 | 36.82% |
| 2006-03-31 | 100.00% |
| 2005-12-31 | 100.00% |
| 2005-09-30 | 100.00% |
| 2005-06-30 | 100.00% |
| 2005-03-31 | 100.00% |
| 2004-12-31 | 100.00% |
| 2004-09-30 | 100.00% |
| 2004-06-30 | 100.00% |
| 2004-03-31 | 100.00% |
