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 40.73% is in line with its 5-year average of 42.16%, around the middle of its 5-year range (33.56%–48.98%).
As of the fiscal period ended Tuesday, March 31, 2026. 2.45% above its 12-month average of 39.75%.
Reported quarterly gross margin; no daily interpolation.
GROSS MARGIN
40.73%
GROSS MARGIN AVG TTM
39.75%
GROSS MARGIN AVG 3Y
41.11%
GROSS MARGIN AVG 5Y
42.59%
GROSS MARGIN AVG 10Y
45.43%
GROSS MARGIN AVG 15Y
46.78%
GROSS MARGIN AVG 20Y
47.16%
CURRENT VS TTM AVG
+2.45%
CURRENT VS 3Y AVG
-0.92%
CURRENT VS 5Y AVG
-4.38%
CURRENT VS 10Y AVG
-10.34%
CURRENT VS 15Y AVG
-12.94%
CURRENT VS 20Y AVG
-13.64%
SECTOR MEDIAN · INDUSTRIALS
32.52%
median of 133 covered companies
CURRENT VS SECTOR MEDIAN
+25.25%
vs the sector median at left
Market Cap
$87.47B
Gross Margin
36.56%
TTM Avg
35.81%
3Y Avg
35.26%
5Y Avg
34.71%
Market Cap
$85.70B
Gross Margin
17.79%
TTM Avg
18.42%
3Y Avg
19.11%
5Y Avg
20.03%
Market Cap
$93.91B
Gross Margin
13.59%
TTM Avg
13.12%
3Y Avg
12.92%
5Y Avg
13.26%
Market Cap
$82.86B
Gross Margin
52.66%
TTM Avg
51.81%
3Y Avg
49.57%
5Y Avg
47.39%
Market Cap
$82.39B
Gross Margin
50.67%
TTM Avg
50.29%
3Y Avg
49.19%
5Y Avg
48.26%
Market Cap
$95.88B
Gross Margin
32.06%
TTM Avg
29.07%
3Y Avg
28.39%
5Y Avg
28.01%
Market Cap
$81.99B
Gross Margin
46.67%
TTM Avg
52.01%
3Y Avg
51.86%
5Y Avg
53.71%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| 3M Company (MMM) | $89.02B | 40.73% | 39.75% | 41.11% | 42.59% |
| Johnson Controls International plc (JCI)vs › | $87.47B | 36.56% | 35.81% | 35.26% | 34.71% |
| Cummins Inc. (CMI)vs › | $91.71B | 25.39% | 25.02% | 24.55% | 24.43% |
| United Parcel Service, Inc. (UPS)vs › | $85.70B | 17.79% | 18.42% | 19.11% | 20.03% |
| Quanta Services, Inc. (PWR)vs › | $93.91B | 13.59% | 13.12% | 12.92% | 13.26% |
| Emerson Electric Co. (EMR)vs › | $82.86B | 52.66% | 51.81% | 49.57% | 47.39% |
| Cintas Corporation (CTAS)vs › | $82.39B | 50.67% | 50.29% | 49.19% | 48.26% |
| Waste Management, Inc. (WM)vs › | $95.88B | 32.06% | 29.07% | 28.39% | 28.01% |
| Canadian Pacific Kansas City Ltd. (CP)vs › | $81.99B | 46.67% | 52.01% | 51.86% | 53.71% |
| Illinois Tool Works Inc. (ITW)vs › | $81.42B | 44.12% | 43.88% | 42.30% | 41.61% |
Gross Margin
40.7%
(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 |
|---|---|
| 2026-03-31 | 40.73% |
| 2025-12-31 | 33.56% |
| 2025-09-30 | 41.81% |
| 2025-06-30 | 41.76% |
| 2025-03-31 | 40.91% |
| 2024-12-31 | 37.80% |
| 2024-09-30 | 41.99% |
| 2024-06-30 | 42.46% |
| 2024-03-31 | 41.71% |
| 2023-12-31 | 36.97% |
| 2023-09-30 | 40.05% |
| 2023-06-30 | 40.71% |
| 2023-03-31 | 42.25% |
| 2022-12-31 | 42.23% |
| 2022-09-30 | 45.27% |
| 2022-06-30 | 41.81% |
| 2022-03-31 | 45.46% |
| 2021-12-31 | 45.53% |
| 2021-09-30 | 45.96% |
| 2021-06-30 | 47.50% |
| 2021-03-31 | 48.98% |
| 2020-12-31 | 48.82% |
| 2020-09-30 | 48.18% |
| 2020-06-30 | 46.54% |
| 2020-03-31 | 48.78% |
| 2019-12-31 | 48.10% |
| 2019-09-30 | 47.23% |
| 2019-06-30 | 47.09% |
| 2019-03-31 | 47.90% |
| 2018-12-31 | 48.99% |
| 2018-09-30 | 49.29% |
| 2018-06-30 | 49.89% |
| 2018-03-31 | 49.31% |
| 2017-12-31 | 48.87% |
| 2017-09-30 | 50.31% |
| 2017-06-30 | 48.35% |
| 2017-03-31 | 49.41% |
| 2016-12-31 | 49.38% |
| 2016-09-30 | 49.80% |
| 2016-06-30 | 50.42% |
| 2016-03-31 | 50.36% |
| 2015-12-31 | 47.56% |
| 2015-09-30 | 49.73% |
| 2015-06-30 | 49.80% |
| 2015-03-31 | 49.58% |
| 2014-12-31 | 47.83% |
| 2014-09-30 | 48.32% |
| 2014-06-30 | 48.56% |
| 2014-03-31 | 48.53% |
| 2013-12-31 | 47.47% |
| 2013-09-30 | 47.60% |
| 2013-06-30 | 48.23% |
| 2013-03-31 | 48.01% |
| 2012-12-31 | 45.97% |
| 2012-09-30 | 47.51% |
| 2012-06-30 | 48.63% |
| 2012-03-31 | 48.05% |
| 2011-12-31 | 46.06% |
| 2011-09-30 | 46.53% |
| 2011-06-30 | 47.40% |
| 2011-03-31 | 48.00% |
| 2010-12-31 | 46.71% |
| 2010-09-30 | 47.88% |
| 2010-06-30 | 48.97% |
| 2010-03-31 | 48.99% |
| 2009-12-31 | 47.91% |
| 2009-09-30 | 48.80% |
| 2009-06-30 | 47.95% |
| 2009-03-31 | 45.53% |
| 2008-12-31 | 43.71% |
| 2008-09-30 | 47.67% |
| 2008-06-30 | 47.92% |
| 2008-03-31 | 48.38% |
| 2007-12-31 | 46.86% |
| 2007-09-30 | 47.55% |
| 2007-06-30 | 48.31% |
| 2007-03-31 | 49.10% |
| 2006-12-31 | 45.31% |
| 2006-09-30 | 48.96% |
| 2006-06-30 | 50.07% |
| 2006-03-31 | 51.37% |
| 2005-12-31 | 50.84% |
| 2005-09-30 | 51.10% |
| 2005-06-30 | 51.00% |
| 2005-03-31 | 50.89% |
| 2004-12-31 | 48.67% |
| 2004-09-30 | 50.55% |
| 2004-06-30 | 51.08% |
| 2004-03-31 | 50.68% |
| 2003-12-31 | 48.52% |
| 2003-09-30 | 49.70% |
| 2003-06-30 | 49.28% |
| 2003-03-31 | 48.80% |
| 2002-12-31 | 48.91% |
| 2002-09-30 | 48.95% |
| 2002-06-30 | 46.38% |
