Basis: Trailing twelve months (TTM). Source: stored company filings and market data; unavailable inputs remain N/A.
Is the gross margin high or low?
The gross margin of 22.90% is in line with its 5-year average of 21.82%, around the middle of its 5-year range (20.25%–26.42%).
0.82% below its 12-month average of 23.09%.
Reported quarterly gross margin; no daily interpolation. Q4 FY2026 (2026-05-31): 22.69%.
GROSS MARGIN
22.90%
GROSS MARGIN AVG TTM
23.09%
GROSS MARGIN AVG 3Y
22.17%
GROSS MARGIN AVG 5Y
21.82%
GROSS MARGIN AVG 10Y
21.42%
GROSS MARGIN AVG 15Y
21.41%
GROSS MARGIN AVG 20Y
38.44%
CURRENT VS TTM AVG
-0.82%
CURRENT VS 3Y AVG
+3.27%
CURRENT VS 5Y AVG
+4.96%
CURRENT VS 10Y AVG
+6.92%
CURRENT VS 15Y AVG
+6.97%
CURRENT VS 20Y AVG
-40.42%
SECTOR MEDIAN · INDUSTRIALS
30.92%
median of 154 covered companies
CURRENT VS SECTOR MEDIAN
-25.95%
vs the sector median at left
Market Cap
$70.65B
Gross Margin
42.43%
TTM Avg
36.74%
3Y Avg
33.43%
5Y Avg
34.60%
Market Cap
$72.17B
Gross Margin
44.43%
TTM Avg
42.87%
3Y Avg
42.87%
5Y Avg
42.52%
Market Cap
$72.84B
Gross Margin
20.06%
TTM Avg
20.09%
3Y Avg
19.32%
5Y Avg
19.66%
Market Cap
$66.44B
Gross Margin
36.57%
TTM Avg
37.70%
3Y Avg
37.47%
5Y Avg
36.30%
Market Cap
$65.84B
Gross Margin
39.09%
TTM Avg
36.26%
3Y Avg
32.67%
5Y Avg
33.29%
Market Cap
$64.87B
Gross Margin
37.07%
TTM Avg
36.33%
3Y Avg
37.50%
5Y Avg
36.53%
Market Cap
$77.21B
Gross Margin
53.42%
TTM Avg
52.84%
3Y Avg
52.27%
5Y Avg
53.99%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| FedEx Corporation (FDX) | $70.01B | 22.90% | 23.09% | 22.17% | 21.82% |
| Norfolk Southern Corporation (NSC)vs › | $70.65B | 42.43% | 36.74% | 33.43% | 34.60% |
| Cummins Inc. (CMI)vs › | $72.06B | 25.32% | 25.02% | 24.55% | 24.43% |
| Canadian National Railway Company (CNI)vs › | $72.17B | 44.43% | 42.87% | 42.87% | 42.52% |
| Northrop Grumman Corporation (NOC)vs › | $72.84B | 20.06% | 20.09% | 19.32% | 19.66% |
| Honeywell International Inc. (HON)vs › | $66.44B | 36.57% | 37.70% | 37.47% | 36.30% |
| Republic Services, Inc. (RSG)vs › | $65.84B | 39.09% | 36.26% | 32.67% | 33.29% |
| United Rentals, Inc. (URI)vs › | $64.87B | 37.07% | 36.33% | 37.50% | 36.53% |
| Canadian Pacific Kansas City Ltd. (CP)vs › | $77.21B | 53.42% | 52.84% | 52.27% | 53.99% |
| Illinois Tool Works Inc. (ITW)vs › | $77.61B | 44.16% | 43.88% | 42.30% | 41.61% |
Gross Margin
22.9%
(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 |
|---|---|
| 2026-05-31 | 22.69% |
| 2026-02-28 | 21.35% |
| 2025-11-30 | 26.42% |
| 2025-08-31 | 21.10% |
| 2025-05-31 | 23.89% |
| 2025-02-28 | 21.35% |
| 2024-11-30 | 20.84% |
| 2024-08-31 | 20.28% |
| 2024-05-31 | 23.17% |
| 2024-02-29 | 20.88% |
| 2023-11-30 | 20.65% |
| 2023-08-31 | 21.74% |
| 2023-05-31 | 23.91% |
| 2023-02-28 | 20.64% |
| 2022-11-30 | 20.34% |
| 2022-08-31 | 20.25% |
| 2022-05-31 | 23.56% |
| 2022-02-28 | 20.69% |
| 2021-11-30 | 20.82% |
| 2021-08-31 | 20.61% |
| 2021-05-31 | 23.00% |
| 2021-02-28 | 19.30% |
| 2020-11-30 | 20.79% |
| 2020-08-31 | 22.04% |
| 2020-05-31 | 19.96% |
| 2020-02-29 | 17.80% |
| 2019-11-30 | 18.89% |
| 2019-08-31 | 20.51% |
| 2019-05-31 | 23.61% |
| 2019-02-28 | 19.98% |
| 2018-11-30 | 21.04% |
| 2018-08-31 | 20.37% |
| 2018-05-31 | 23.59% |
| 2018-02-28 | 19.76% |
| 2017-11-30 | 22.42% |
| 2017-08-31 | 22.14% |
| 2017-05-31 | 24.77% |
| 2017-02-28 | 21.24% |
| 2016-11-30 | 22.56% |
| 2016-08-31 | 22.74% |
| 2016-05-31 | 13.75% |
| 2016-02-29 | 22.69% |
| 2015-11-30 | 23.01% |
| 2015-08-31 | 22.86% |
| 2015-05-31 | 7.02% |
| 2015-02-28 | 21.23% |
| 2014-11-30 | 21.28% |
| 2014-08-31 | 21.00% |
| 2014-05-31 | 22.87% |
| 2014-02-28 | 19.08% |
| 2013-11-30 | 20.21% |
| 2013-08-31 | 20.00% |
| 2013-05-31 | 22.19% |
| 2013-02-28 | 18.75% |
| 2012-11-30 | 19.32% |
| 2012-08-31 | 19.81% |
| 2012-05-31 | 46.86% |
| 2012-02-29 | 62.74% |
| 2011-11-30 | 63.07% |
| 2011-08-31 | 62.62% |
| 2011-05-31 | 62.95% |
| 2011-02-28 | 84.18% |
| 2010-11-30 | 77.44% |
| 2010-08-31 | 77.48% |
| 2010-05-31 | 85.30% |
| 2010-02-28 | 78.84% |
| 2009-11-30 | 80.04% |
| 2009-08-31 | 86.68% |
| 2009-05-31 | 88.13% |
| 2009-02-28 | 81.12% |
| 2008-11-30 | 82.94% |
| 2008-08-31 | 72.66% |
| 2008-05-31 | 49.00% |
| 2008-02-29 | 86.97% |
| 2007-11-30 | 87.07% |
| 2007-08-31 | 87.11% |
| 2007-05-31 | 87.08% |
| 2007-02-28 | 86.08% |
| 2006-11-30 | 86.91% |
| 2006-08-31 | 86.66% |
| 2006-05-31 | 86.72% |
| 2006-02-28 | 85.58% |
| 2005-11-30 | 85.56% |
| 2005-08-31 | 82.74% |
| 2005-05-31 | 84.81% |
| 2005-02-28 | 84.06% |
| 2004-11-30 | 84.07% |
| 2004-08-31 | 83.97% |
| 2004-05-31 | 83.87% |
| 2004-02-29 | 84.36% |
| 2003-11-30 | 84.90% |
| 2003-08-31 | 84.91% |
| 2003-05-31 | 84.84% |
| 2003-02-28 | 83.70% |
| 2002-11-30 | 83.59% |
| 2002-08-31 | 83.69% |
