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 43.24% is in line with its 5-year average of 46.61%, around the middle of its 5-year range (-12.58%–100.63%).
As of the fiscal period ended Tuesday, March 31, 2026. 8.50% below its 12-month average of 47.25%.
Reported quarterly gross margin; no daily interpolation.
GROSS MARGIN
43.24%
GROSS MARGIN AVG TTM
47.25%
GROSS MARGIN AVG 3Y
47.40%
GROSS MARGIN AVG 5Y
46.88%
GROSS MARGIN AVG 10Y
49.52%
GROSS MARGIN AVG 15Y
45.70%
GROSS MARGIN AVG 20Y
44.02%
CURRENT VS TTM AVG
-8.50%
CURRENT VS 3Y AVG
-8.77%
CURRENT VS 5Y AVG
-7.77%
CURRENT VS 10Y AVG
-12.68%
CURRENT VS 15Y AVG
-5.38%
CURRENT VS 20Y AVG
-1.77%
SECTOR MEDIAN · UTILITIES
33.52%
median of 44 covered companies
CURRENT VS SECTOR MEDIAN
+28.98%
vs the sector median at left
Market Cap
$8.31B
Gross Margin
15.19%
TTM Avg
39.33%
3Y Avg
51.52%
5Y Avg
56.75%
Market Cap
$5.72B
Gross Margin
38.47%
TTM Avg
38.98%
3Y Avg
35.60%
5Y Avg
36.73%
Market Cap
$10.09B
Gross Margin
16.84%
TTM Avg
36.47%
3Y Avg
51.03%
5Y Avg
56.24%
Market Cap
$10.50B
Gross Margin
19.31%
TTM Avg
18.46%
3Y Avg
19.24%
5Y Avg
21.53%
Market Cap
$2.95B
Gross Margin
36.31%
TTM Avg
61.49%
3Y Avg
44.47%
5Y Avg
42.81%
Market Cap
$12.36B
Gross Margin
25.41%
TTM Avg
33.55%
3Y Avg
36.47%
5Y Avg
39.35%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| UGI Corporation (UGI) | $7.43B | 43.24% | 47.25% | 47.40% | 46.88% |
| Clearway Energy, Inc. (CWEN-A)vs › | $8.31B | 15.19% | 39.33% | 51.52% | 56.75% |
| Oklo Inc. (OKLO)vs › | $8.44B | 0.00% | 0.00% | 0.00% | 0.00% |
| Black Hills Corporation (BKH)vs › | $5.72B | 38.47% | 38.98% | 35.60% | 36.73% |
| Brookfield Renewable Partners L.P. (BEP)vs › | $10.09B | 16.84% | 36.47% | 51.03% | 56.24% |
| The AES Corporation (AES)vs › | $10.50B | 19.31% | 18.46% | 19.24% | 21.53% |
| Avista Corporation (AVA)vs › | $3.27B | 24.19% | 41.51% | 49.97% | 55.86% |
| NuScale Power Corporation (SMR)vs › | $2.95B | 36.31% | 61.49% | 44.47% | 42.81% |
| Pinnacle West Capital Corporation (PNW)vs › | $12.36B | 25.41% | 33.55% | 36.47% | 39.35% |
| Fluence Energy, Inc. (FLNC)vs › | $2.43B | 9.18% | 12.86% | 6.72% | 3.02% |
Gross Margin
43.2%
(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 | 43.24% |
| 2025-12-31 | 51.42% |
| 2025-09-30 | 50.46% |
| 2025-06-30 | 39.96% |
| 2025-03-31 | 51.20% |
| 2024-12-31 | 54.53% |
| 2024-09-30 | 47.02% |
| 2024-06-30 | 53.70% |
| 2024-03-31 | 58.25% |
| 2023-12-31 | 43.33% |
| 2023-09-30 | 58.76% |
| 2023-06-30 | 33.45% |
| 2023-03-31 | 30.84% |
| 2022-12-31 | -12.58% |
| 2022-09-30 | 47.16% |
| 2022-06-30 | 33.05% |
| 2022-03-31 | 57.59% |
| 2021-12-31 | 20.69% |
| 2021-09-30 | 100.63% |
| 2021-06-30 | 65.51% |
| 2021-03-31 | 50.64% |
| 2020-12-31 | 56.88% |
| 2020-09-30 | 57.64% |
| 2020-06-30 | 65.22% |
| 2020-03-31 | 44.01% |
| 2019-12-31 | 49.78% |
| 2019-09-30 | 40.04% |
| 2019-06-30 | 42.70% |
| 2019-03-31 | 45.25% |
| 2018-12-31 | 35.23% |
| 2018-09-30 | 49.35% |
| 2018-06-30 | 49.16% |
| 2018-03-31 | 44.52% |
| 2017-12-31 | 46.48% |
| 2017-09-30 | 55.09% |
| 2017-06-30 | 46.38% |
| 2017-03-31 | 50.72% |
| 2016-12-31 | 61.45% |
| 2016-09-30 | 49.44% |
| 2016-06-30 | 61.71% |
| 2016-03-31 | 60.61% |
| 2015-12-31 | 54.31% |
| 2015-09-30 | 50.12% |
| 2015-06-30 | 48.92% |
| 2015-03-31 | 50.91% |
| 2014-12-31 | 29.93% |
| 2014-09-30 | 37.62% |
| 2014-06-30 | 37.68% |
| 2014-03-31 | 36.73% |
| 2013-12-31 | 38.26% |
| 2013-09-30 | 38.43% |
| 2013-06-30 | 39.11% |
| 2013-03-31 | 41.53% |
| 2012-12-31 | 39.79% |
| 2012-09-30 | 40.25% |
| 2012-06-30 | 36.56% |
| 2012-03-31 | 37.11% |
| 2011-12-31 | 34.76% |
| 2011-09-30 | 33.28% |
| 2011-06-30 | 33.87% |
| 2011-03-31 | 34.71% |
| 2010-12-31 | 34.15% |
| 2010-09-30 | 35.44% |
| 2010-06-30 | 36.01% |
| 2010-03-31 | 35.53% |
| 2009-12-31 | 36.57% |
| 2009-09-30 | 38.58% |
| 2009-06-30 | 38.52% |
| 2009-03-31 | 35.44% |
| 2008-12-31 | 34.15% |
| 2008-09-30 | 100.00% |
| 2008-06-30 | 100.00% |
| 2008-03-31 | 28.41% |
| 2007-12-31 | 100.00% |
| 2007-09-30 | 100.00% |
| 2007-06-30 | 100.00% |
| 2007-03-31 | 100.00% |
| 2006-12-31 | 32.04% |
| 2006-09-30 | 100.00% |
| 2006-06-30 | 100.00% |
| 2006-03-31 | 100.00% |
| 2005-12-31 | 27.07% |
| 2005-09-30 | 100.00% |
| 2005-06-30 | 100.00% |
| 2005-03-31 | 100.00% |
| 2004-12-31 | 32.09% |
| 2004-09-30 | 100.00% |
| 2004-06-30 | 100.00% |
| 2004-03-31 | 100.00% |
| 2003-12-31 | 33.21% |
| 2003-09-30 | 34.33% |
| 2003-06-30 | 30.97% |
| 2003-03-31 | 33.54% |
| 2002-12-31 | 38.76% |
| 2002-09-30 | 60.00% |
| 2002-06-30 | 63.21% |
