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 46.96% is 19% below its 5-year average of 58.27%, near the low end of its 5-year range (46.96%–61.15%).
As of the fiscal period ended Saturday, April 4, 2026. 16.18% below its 12-month average of 56.02%.
Reported quarterly gross margin; no daily interpolation.
GROSS MARGIN
46.96%
GROSS MARGIN AVG TTM
56.02%
GROSS MARGIN AVG 3Y
59.12%
GROSS MARGIN AVG 5Y
58.86%
GROSS MARGIN AVG 10Y
58.78%
GROSS MARGIN AVG 15Y
58.96%
GROSS MARGIN AVG 20Y
58.90%
CURRENT VS TTM AVG
-16.18%
CURRENT VS 3Y AVG
-20.57%
CURRENT VS 5Y AVG
-20.21%
CURRENT VS 10Y AVG
-20.11%
CURRENT VS 15Y AVG
-20.36%
CURRENT VS 20Y AVG
-20.27%
SECTOR MEDIAN · HEALTHCARE
58.51%
median of 79 covered companies
CURRENT VS SECTOR MEDIAN
-19.74%
vs the sector median at left
Waters Corporation
Market Cap
$24.42B
Gross Margin
46.96%
TTM Avg
56.02%
3Y Avg
59.12%
5Y Avg
58.86%
Market Cap
$24.34B
Gross Margin
27.79%
TTM Avg
27.30%
3Y Avg
28.39%
5Y Avg
31.16%
Market Cap
$25.15B
Gross Margin
33.15%
TTM Avg
32.39%
3Y Avg
33.17%
5Y Avg
35.04%
Market Cap
$23.51B
Gross Margin
92.48%
TTM Avg
92.70%
3Y Avg
93.10%
5Y Avg
93.74%
Market Cap
$23.10B
Gross Margin
36.77%
TTM Avg
35.27%
3Y Avg
37.10%
5Y Avg
37.60%
Market Cap
$22.43B
Gross Margin
86.58%
TTM Avg
88.58%
3Y Avg
89.63%
5Y Avg
90.66%
Market Cap
$26.82B
Gross Margin
57.79%
TTM Avg
57.84%
3Y Avg
57.54%
5Y Avg
57.23%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Waters Corporation (WAT) | $24.42B | 46.96% | 56.02% | 59.12% | 58.86% |
| Labcorp Holdings Inc. (LH)vs › | $24.34B | 27.79% | 27.30% | 28.39% | 31.16% |
| Quest Diagnostics Incorporated (DGX)vs › | $25.15B | 33.15% | 32.39% | 33.17% | 35.04% |
| Incyte Corporation (INCY)vs › | $23.51B | 92.48% | 92.70% | 93.10% | 93.74% |
| West Pharmaceutical Services, Inc. (WST)vs › | $23.10B | 36.77% | 35.27% | 37.10% | 37.60% |
| BioNTech SE (BNTX)vs › | $22.59B | 73.26% | 78.98% | 81.24% | 82.89% |
| United Therapeutics Corporation (UTHR)vs › | $22.43B | 86.58% | 88.58% | 89.63% | 90.66% |
| Mettler-Toledo International Inc. (MTD)vs › | $26.82B | 57.79% | 57.84% | 57.54% | 57.23% |
| Moderna, Inc. (MRNA)vs › | $21.45B | 55.35% | 54.80% | 53.09% | 65.45% |
| GE HealthCare Technologies Inc. (GEHC)vs › | $27.56B | 42.55% | 40.85% | 40.34% | 40.27% |
Gross Margin
47.0%
(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 |
|---|---|
| 2026-04-04 | 46.96% |
| 2025-12-31 | 59.79% |
| 2025-09-27 | 59.02% |
| 2025-06-28 | 58.33% |
| 2025-03-29 | 58.18% |
| 2024-12-31 | 60.07% |
| 2024-09-28 | 59.25% |
| 2024-06-29 | 59.32% |
| 2024-03-30 | 58.89% |
| 2023-12-31 | 61.15% |
| 2023-09-30 | 59.05% |
| 2023-07-01 | 59.35% |
| 2023-04-01 | 58.46% |
| 2022-12-31 | 59.44% |
| 2022-10-01 | 56.66% |
| 2022-07-02 | 56.99% |
| 2022-04-02 | 58.63% |
| 2021-12-31 | 58.04% |
| 2021-10-02 | 58.87% |
| 2021-07-03 | 58.89% |
| 2021-04-03 | 58.24% |
| 2020-12-31 | 59.25% |
| 2020-09-26 | 55.82% |
| 2020-06-27 | 59.01% |
| 2020-03-28 | 54.69% |
| 2019-12-31 | 58.25% |
| 2019-09-28 | 58.24% |
| 2019-06-29 | 58.35% |
| 2019-03-30 | 56.99% |
| 2018-12-31 | 59.88% |
| 2018-09-29 | 58.28% |
| 2018-06-30 | 59.22% |
| 2018-03-31 | 58.28% |
| 2017-12-31 | 60.65% |
| 2017-09-30 | 58.29% |
| 2017-07-01 | 58.87% |
| 2017-04-01 | 57.61% |
| 2016-12-31 | 59.99% |
| 2016-10-01 | 58.56% |
| 2016-07-02 | 58.93% |
| 2016-04-02 | 57.67% |
| 2015-12-31 | 59.44% |
| 2015-10-03 | 58.69% |
| 2015-07-04 | 57.81% |
| 2015-04-04 | 58.90% |
| 2014-12-31 | 60.07% |
| 2014-09-27 | 59.00% |
| 2014-06-28 | 58.10% |
| 2014-03-29 | 56.40% |
| 2013-12-31 | 59.50% |
| 2013-09-28 | 58.11% |
| 2013-06-29 | 58.25% |
| 2013-03-30 | 59.43% |
| 2012-12-31 | 60.07% |
| 2012-09-29 | 59.40% |
| 2012-06-30 | 60.29% |
| 2012-03-31 | 60.21% |
| 2011-12-31 | 60.83% |
| 2011-10-01 | 60.33% |
| 2011-07-02 | 60.66% |
| 2011-04-02 | 60.28% |
| 2010-12-31 | 60.86% |
| 2010-10-02 | 59.36% |
| 2010-07-03 | 60.33% |
| 2010-04-03 | 60.31% |
| 2009-12-31 | 60.33% |
| 2009-10-03 | 59.05% |
| 2009-07-04 | 60.27% |
| 2009-04-04 | 61.73% |
| 2008-12-31 | 58.87% |
| 2008-09-27 | 58.97% |
| 2008-06-28 | 56.06% |
| 2008-03-29 | 58.18% |
| 2007-12-31 | 58.35% |
| 2007-09-29 | 56.42% |
| 2007-06-30 | 56.83% |
| 2007-03-31 | 56.70% |
| 2006-12-31 | 58.03% |
| 2006-09-30 | 57.78% |
| 2006-07-01 | 58.26% |
| 2006-04-01 | 58.44% |
| 2005-12-31 | 59.68% |
| 2005-10-01 | 57.69% |
| 2005-07-02 | 58.87% |
| 2005-04-02 | 58.33% |
| 2004-12-31 | 59.85% |
| 2004-10-02 | 58.08% |
| 2004-07-03 | 59.24% |
| 2004-04-03 | 57.87% |
| 2003-12-31 | 58.88% |
| 2003-09-30 | 58.74% |
| 2003-06-30 | 58.80% |
| 2003-03-31 | 57.37% |
| 2002-12-31 | 41.05% |
| 2002-09-30 | 65.33% |
| 2002-06-30 | 65.02% |
