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 54.58% is 11% above its 5-year average of 49.02%, near the high end of its 5-year range (40.10%–56.92%).
As of the fiscal period ended Tuesday, March 31, 2026. 1.60% below its 12-month average of 55.47%.
Reported quarterly gross margin; no daily interpolation.
GROSS MARGIN
54.58%
GROSS MARGIN AVG TTM
55.47%
GROSS MARGIN AVG 3Y
52.41%
GROSS MARGIN AVG 5Y
49.02%
GROSS MARGIN AVG 10Y
48.66%
GROSS MARGIN AVG 15Y
52.27%
GROSS MARGIN AVG 20Y
N/A
CURRENT VS TTM AVG
-1.60%
CURRENT VS 3Y AVG
+4.14%
CURRENT VS 5Y AVG
+11.35%
CURRENT VS 10Y AVG
+12.18%
CURRENT VS 15Y AVG
+4.42%
CURRENT VS 20Y AVG
N/A
SECTOR MEDIAN · COMMUNICATION SERVICES
53.00%
median of 28 covered companies
CURRENT VS SECTOR MEDIAN
+3.00%
vs the sector median at left
Tencent Holdings Limited
Market Cap
$513.47B
Gross Margin
54.58%
TTM Avg
55.47%
3Y Avg
52.41%
5Y Avg
49.02%
Market Cap
$198.28B
Gross Margin
45.64%
TTM Avg
46.12%
3Y Avg
45.60%
5Y Avg
45.87%
Market Cap
$193.35B
Gross Margin
54.46%
TTM Avg
55.61%
3Y Avg
56.82%
5Y Avg
56.71%
Market Cap
$167.91B
Gross Margin
37.16%
TTM Avg
36.75%
3Y Avg
35.29%
5Y Avg
34.52%
Market Cap
$102.32B
Gross Margin
32.31%
TTM Avg
31.06%
3Y Avg
28.18%
5Y Avg
27.51%
Market Cap
$82.38B
Gross Margin
69.39%
TTM Avg
70.91%
3Y Avg
70.03%
5Y Avg
69.18%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| Tencent Holdings Limited (TCEHY) | $513.47B | 54.58% | 55.47% | 52.41% | 49.02% |
| Netflix, Inc. (NFLX)vs › | $295.70B | 49.12% | 47.28% | 43.87% | 42.66% |
| Verizon Communications Inc. (VZ)vs › | $198.28B | 45.64% | 46.12% | 45.60% | 45.87% |
| T-Mobile US, Inc. (TMUS)vs › | $193.35B | 54.46% | 55.61% | 56.82% | 56.71% |
| The Walt Disney Company (DIS)vs › | $167.91B | 37.16% | 36.75% | 35.29% | 34.52% |
| AT&T Inc. (T)vs › | $167.85B | 79.77% | 61.35% | 56.08% | 52.69% |
| Spotify Technology S.A. (SPOT)vs › | $102.32B | 32.31% | 31.06% | 28.18% | 27.51% |
| Comcast Corporation (CMCSA)vs › | $82.38B | 69.39% | 70.91% | 70.03% | 69.18% |
| DoorDash, Inc. (DASH)vs › | $80.55B | 50.89% | 49.59% | 47.89% | 49.39% |
| Warner Bros. Discovery, Inc. (WBD)vs › | $63.67B | 28.18% | 34.88% | 37.49% | 45.98% |
Gross Margin
54.6%
(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 | 54.58% |
| 2025-12-31 | 55.71% |
| 2025-09-30 | 54.31% |
| 2025-06-30 | 56.92% |
| 2025-03-31 | 55.82% |
| 2024-12-31 | 52.60% |
| 2024-09-30 | 53.13% |
| 2024-06-30 | 53.31% |
| 2024-03-31 | 52.58% |
| 2023-12-31 | 49.98% |
| 2023-09-30 | 49.49% |
| 2023-06-30 | 47.48% |
| 2023-03-31 | 45.46% |
| 2022-12-31 | 42.65% |
| 2022-09-30 | 44.24% |
| 2022-06-30 | 43.17% |
| 2022-03-31 | 42.13% |
| 2021-12-31 | 40.10% |
| 2021-09-30 | 44.07% |
| 2021-06-30 | 45.38% |
| 2021-03-31 | 46.29% |
| 2020-12-31 | 44.05% |
| 2020-09-30 | 45.16% |
| 2020-06-30 | 46.32% |
| 2020-03-31 | 48.85% |
| 2019-12-31 | 43.59% |
| 2019-09-30 | 43.69% |
| 2019-06-30 | 44.05% |
| 2019-03-31 | 46.59% |
| 2018-12-31 | 41.41% |
| 2018-09-30 | 44.02% |
| 2018-06-30 | 46.75% |
| 2018-03-31 | 50.38% |
| 2017-12-31 | 47.44% |
| 2017-09-30 | 48.58% |
| 2017-06-30 | 50.01% |
| 2017-03-31 | 51.35% |
| 2016-12-31 | 53.86% |
| 2016-09-30 | 54.05% |
| 2016-06-30 | 57.31% |
| 2016-03-31 | 58.10% |
| 2015-12-31 | 58.41% |
| 2015-09-30 | 58.58% |
| 2015-06-30 | 61.62% |
| 2015-03-31 | 59.98% |
| 2014-12-31 | 60.28% |
| 2014-09-30 | 63.82% |
| 2014-06-30 | 61.64% |
| 2014-03-31 | 57.61% |
| 2013-12-31 | 51.69% |
| 2013-09-30 | 54.71% |
| 2013-06-30 | 54.18% |
| 2013-03-31 | 56.05% |
| 2012-12-31 | 56.62% |
| 2012-09-30 | 58.61% |
| 2012-06-30 | 59.05% |
| 2012-03-31 | 60.24% |
| 2011-12-31 | 65.40% |
| 2011-09-30 | 64.50% |
| 2011-06-30 | 65.40% |
| 2011-03-31 | 65.39% |
| 2010-06-30 | 68.24% |
| 2009-06-30 | 67.53% |
