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 32.98% is 17% above its 5-year average of 28.11%, near the high end of its 5-year range (24.11%–33.08%).
As of the fiscal period ended Tuesday, March 31, 2026. 2.13% above its 12-month average of 32.29%.
Reported quarterly gross margin; no daily interpolation.
GROSS MARGIN
32.98%
GROSS MARGIN AVG TTM
32.29%
GROSS MARGIN AVG 3Y
29.49%
GROSS MARGIN AVG 5Y
28.11%
GROSS MARGIN AVG 10Y
25.61%
GROSS MARGIN AVG 15Y
N/A
GROSS MARGIN AVG 20Y
N/A
CURRENT VS TTM AVG
+2.13%
CURRENT VS 3Y AVG
+11.85%
CURRENT VS 5Y AVG
+17.33%
CURRENT VS 10Y AVG
+28.79%
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · COMMUNICATION SERVICES
53.00%
median of 28 covered companies
CURRENT VS SECTOR MEDIAN
-37.77%
vs the sector median at left
Spotify Technology S.A.
Market Cap
$102.80B
Gross Margin
32.98%
TTM Avg
32.29%
3Y Avg
29.49%
5Y Avg
28.11%
Market Cap
$85.03B
Gross Margin
69.39%
TTM Avg
70.91%
3Y Avg
70.03%
5Y Avg
69.18%
Market Cap
$65.94B
Gross Margin
28.18%
TTM Avg
34.88%
3Y Avg
37.49%
5Y Avg
45.98%
Market Cap
$40.52B
Gross Margin
23.01%
TTM Avg
24.09%
3Y Avg
24.56%
5Y Avg
25.57%
Market Cap
$167.08B
Gross Margin
37.16%
TTM Avg
36.75%
3Y Avg
35.29%
5Y Avg
34.52%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Spotify Technology S.A. (SPOT) | $102.80B | 32.98% | 32.29% | 29.49% | 28.11% |
| DoorDash, Inc. (DASH)vs › | $85.47B | 50.89% | 49.59% | 47.89% | 49.39% |
| Comcast Corporation (CMCSA)vs › | $85.03B | 69.39% | 70.91% | 70.03% | 69.18% |
| Warner Bros. Discovery, Inc. (WBD)vs › | $65.94B | 28.18% | 34.88% | 37.49% | 45.98% |
| AT&T Inc. (T)vs › | $159.44B | 59.72% | 51.24% | 51.03% | 49.32% |
| Live Nation Entertainment, Inc. (LYV)vs › | $40.52B | 23.01% | 24.09% | 24.56% | 25.57% |
| The Walt Disney Company (DIS)vs › | $167.08B | 37.16% | 36.75% | 35.29% | 34.52% |
| Reddit, Inc. (RDDT)vs › | $27.08B | 91.44% | 90.84% | 88.03% | 85.52% |
| Fox Corporation (FOXA)vs › | $25.53B | 34.99% | 66.56% | 83.28% | 88.85% |
| EchoStar Corporation (SATS)vs › | $24.24B | 27.08% | 30.89% | 31.51% | 37.26% |
Gross Margin
33.0%
(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 | 32.98% |
| 2025-12-31 | 33.08% |
| 2025-09-30 | 31.62% |
| 2025-06-30 | 31.48% |
| 2025-03-30 | 31.65% |
| 2024-12-31 | 32.25% |
| 2024-09-30 | 31.09% |
| 2024-06-30 | 29.21% |
| 2024-03-31 | 27.61% |
| 2023-12-31 | 26.70% |
| 2023-09-30 | 26.36% |
| 2023-06-30 | 24.11% |
| 2023-03-31 | 25.18% |
| 2022-12-31 | 25.30% |
| 2022-09-30 | 24.70% |
| 2022-06-30 | 24.58% |
| 2022-03-31 | 25.22% |
| 2021-12-31 | 26.48% |
| 2021-09-30 | 26.71% |
| 2021-06-30 | 28.44% |
| 2021-03-31 | 25.52% |
| 2020-12-31 | 26.52% |
| 2020-09-30 | 24.76% |
| 2020-06-30 | 25.36% |
| 2020-03-31 | 25.54% |
| 2019-12-31 | 25.55% |
| 2019-09-30 | 25.48% |
| 2019-06-30 | 26.03% |
| 2019-03-31 | 24.69% |
| 2018-12-31 | 26.69% |
| 2018-09-30 | 25.30% |
| 2018-06-30 | 25.84% |
| 2018-03-31 | 24.85% |
| 2017-12-31 | 24.54% |
| 2017-09-30 | 22.29% |
| 2017-06-30 | 23.04% |
| 2017-03-31 | 11.64% |
| 2016-12-31 | 18.58% |
| 2016-09-30 | 18.74% |
| 2016-06-30 | 14.57% |
| 2016-03-31 | 5.01% |
