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 82.93% is in line with its 5-year average of 89.90%, near the low end of its 5-year range (82.93%–94.39%).
As of the fiscal period ended Tuesday, March 31, 2026. 4.59% below its 12-month average of 86.92%.
Reported quarterly gross margin; no daily interpolation.
GROSS MARGIN
82.93%
GROSS MARGIN AVG TTM
86.92%
GROSS MARGIN AVG 3Y
88.87%
GROSS MARGIN AVG 5Y
90.25%
GROSS MARGIN AVG 10Y
91.12%
GROSS MARGIN AVG 15Y
90.65%
GROSS MARGIN AVG 20Y
90.06%
CURRENT VS TTM AVG
-4.59%
CURRENT VS 3Y AVG
-6.69%
CURRENT VS 5Y AVG
-8.11%
CURRENT VS 10Y AVG
-8.99%
CURRENT VS 15Y AVG
-8.52%
CURRENT VS 20Y AVG
-7.92%
SECTOR MEDIAN · HEALTHCARE
58.51%
median of 79 covered companies
CURRENT VS SECTOR MEDIAN
+41.74%
vs the sector median at left
United Therapeutics Corporation
Market Cap
$22.23B
Gross Margin
82.93%
TTM Avg
86.92%
3Y Avg
88.87%
5Y Avg
90.25%
Market Cap
$23.72B
Gross Margin
36.77%
TTM Avg
35.27%
3Y Avg
37.10%
5Y Avg
37.60%
Market Cap
$25.02B
Gross Margin
55.02%
TTM Avg
58.60%
3Y Avg
58.69%
5Y Avg
58.45%
Market Cap
$25.77B
Gross Margin
27.79%
TTM Avg
27.30%
3Y Avg
28.39%
5Y Avg
31.16%
Market Cap
$18.52B
Gross Margin
61.62%
TTM Avg
66.54%
3Y Avg
68.95%
5Y Avg
69.55%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| United Therapeutics Corporation (UTHR) | $22.23B | 82.93% | 86.92% | 88.87% | 90.25% |
| Moderna, Inc. (MRNA)vs › | $22.14B | 55.35% | 54.80% | 53.09% | 65.45% |
| STERIS plc (STE)vs › | $22.45B | 44.25% | 44.13% | 43.77% | 43.82% |
| BioNTech SE (BNTX)vs › | $23.38B | 73.26% | 78.98% | 81.24% | 82.89% |
| Viatris Inc. (VTRS)vs › | $20.80B | 34.40% | 36.61% | 38.73% | 36.31% |
| West Pharmaceutical Services, Inc. (WST)vs › | $23.72B | 36.77% | 35.27% | 37.10% | 37.60% |
| Waters Corporation (WAT)vs › | $25.02B | 55.02% | 58.60% | 58.69% | 58.45% |
| Labcorp Holdings Inc. (LH)vs › | $25.77B | 27.79% | 27.30% | 28.39% | 31.16% |
| Zimmer Biomet Holdings, Inc. (ZBH)vs › | $18.52B | 61.62% | 66.54% | 68.95% | 69.55% |
| Incyte Corporation (INCY)vs › | $25.96B | 92.48% | 92.70% | 93.10% | 93.74% |
Gross Margin
82.9%
(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 | 82.93% |
| 2025-12-31 | 86.91% |
| 2025-09-30 | 87.38% |
| 2025-06-30 | 89.03% |
| 2025-03-31 | 88.36% |
| 2024-12-31 | 89.69% |
| 2024-09-30 | 88.90% |
| 2024-06-30 | 89.12% |
| 2024-03-31 | 89.24% |
| 2023-12-31 | 88.45% |
| 2023-09-30 | 88.50% |
| 2023-06-30 | 89.25% |
| 2023-03-31 | 89.68% |
| 2022-12-31 | 88.63% |
| 2022-09-30 | 92.79% |
| 2022-06-30 | 93.64% |
| 2022-03-31 | 94.39% |
| 2021-12-31 | 91.67% |
| 2021-09-30 | 93.77% |
| 2021-06-30 | 91.67% |
| 2021-03-31 | 93.93% |
| 2020-12-31 | 90.96% |
| 2020-09-30 | 93.69% |
| 2020-06-30 | 92.85% |
| 2020-03-31 | 93.43% |
| 2019-12-31 | 90.74% |
| 2019-09-30 | 91.78% |
| 2019-06-30 | 92.85% |
| 2019-03-31 | 91.97% |
| 2018-12-31 | 91.64% |
| 2018-09-30 | 87.42% |
| 2018-06-30 | 86.12% |
| 2018-03-31 | 86.33% |
| 2017-12-31 | 88.59% |
| 2017-09-30 | 95.62% |
| 2017-06-30 | 95.75% |
| 2017-03-31 | 96.14% |
| 2016-12-31 | 93.06% |
| 2016-09-30 | 94.22% |
| 2016-06-30 | 95.15% |
| 2016-03-31 | 99.81% |
| 2015-12-31 | 93.75% |
| 2015-09-30 | 98.22% |
| 2015-06-30 | 95.37% |
| 2015-03-31 | 93.66% |
| 2014-12-31 | 95.45% |
| 2014-09-30 | 87.63% |
| 2014-06-30 | 88.01% |
| 2014-03-31 | 89.43% |
| 2013-12-31 | 86.58% |
| 2013-09-30 | 89.84% |
| 2013-06-30 | 88.48% |
| 2013-03-31 | 88.04% |
| 2012-12-31 | 84.55% |
| 2012-09-30 | 88.47% |
| 2012-06-30 | 86.86% |
| 2012-03-31 | 88.23% |
| 2011-12-31 | 87.02% |
| 2011-09-30 | 88.76% |
| 2011-06-30 | 88.48% |
| 2011-03-31 | 87.04% |
| 2010-12-31 | 87.88% |
| 2010-09-30 | 87.30% |
| 2010-06-30 | 87.87% |
| 2010-03-31 | 88.45% |
| 2009-12-31 | 87.61% |
| 2009-09-30 | 86.88% |
| 2009-06-30 | 87.99% |
| 2009-03-31 | 88.73% |
| 2008-12-31 | 89.31% |
| 2008-09-30 | 89.68% |
| 2008-06-30 | 89.31% |
| 2008-03-31 | 88.90% |
| 2007-12-31 | 89.39% |
| 2007-09-30 | 89.56% |
| 2007-06-30 | 89.69% |
| 2007-03-31 | 89.06% |
| 2006-12-31 | 89.63% |
| 2006-09-30 | 89.72% |
| 2006-06-30 | 89.45% |
| 2006-03-31 | 88.31% |
| 2005-12-31 | 89.36% |
| 2005-09-30 | 89.60% |
| 2005-06-30 | 89.44% |
| 2005-03-31 | 88.99% |
| 2004-12-31 | 89.58% |
| 2004-09-30 | 89.20% |
| 2004-06-30 | 88.84% |
| 2004-03-31 | 86.88% |
| 2003-12-31 | 90.58% |
| 2003-09-30 | 88.34% |
| 2003-06-30 | 85.55% |
| 2003-03-31 | 83.89% |
| 2002-12-31 | 87.54% |
| 2002-09-30 | 75.14% |
| 2002-06-30 | 83.46% |
