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 15.84% is 18% below its 5-year average of 19.30%, near the low end of its 5-year range (15.84%–22.75%).
As of the fiscal period ended Tuesday, March 31, 2026. 9.76% below its 12-month average of 17.56%.
Reported quarterly gross margin; no daily interpolation.
GROSS MARGIN
15.84%
GROSS MARGIN AVG TTM
17.56%
GROSS MARGIN AVG 3Y
18.16%
GROSS MARGIN AVG 5Y
19.30%
GROSS MARGIN AVG 10Y
18.98%
GROSS MARGIN AVG 15Y
31.38%
GROSS MARGIN AVG 20Y
42.95%
CURRENT VS TTM AVG
-9.76%
CURRENT VS 3Y AVG
-12.74%
CURRENT VS 5Y AVG
-17.92%
CURRENT VS 10Y AVG
-16.54%
CURRENT VS 15Y AVG
-49.51%
CURRENT VS 20Y AVG
-63.11%
SECTOR MEDIAN · INDUSTRIALS
32.52%
median of 133 covered companies
CURRENT VS SECTOR MEDIAN
-51.28%
vs the sector median at left
United Parcel Service, Inc.
Market Cap
$85.70B
Gross Margin
15.84%
TTM Avg
17.56%
3Y Avg
18.16%
5Y Avg
19.30%
Market Cap
$87.47B
Gross Margin
36.56%
TTM Avg
35.81%
3Y Avg
35.26%
5Y Avg
34.71%
Market Cap
$82.86B
Gross Margin
52.66%
TTM Avg
51.81%
3Y Avg
49.57%
5Y Avg
47.39%
Market Cap
$82.39B
Gross Margin
50.67%
TTM Avg
50.29%
3Y Avg
49.19%
5Y Avg
48.26%
Market Cap
$81.99B
Gross Margin
46.67%
TTM Avg
52.01%
3Y Avg
51.86%
5Y Avg
53.71%
Market Cap
$81.42B
Gross Margin
44.12%
TTM Avg
43.88%
3Y Avg
42.30%
5Y Avg
41.61%
Market Cap
$78.76B
Gross Margin
42.43%
TTM Avg
36.74%
3Y Avg
33.43%
5Y Avg
34.60%
| NAME | MARKET CAP | GROSS MARGIN | TTM | 3Y | 5Y |
|---|---|---|---|---|---|
| United Parcel Service, Inc. (UPS) | $85.70B | 15.84% | 17.56% | 18.16% | 19.30% |
| Johnson Controls International plc (JCI)vs › | $87.47B | 36.56% | 35.81% | 35.26% | 34.71% |
| Emerson Electric Co. (EMR)vs › | $82.86B | 52.66% | 51.81% | 49.57% | 47.39% |
| Cintas Corporation (CTAS)vs › | $82.39B | 50.67% | 50.29% | 49.19% | 48.26% |
| 3M Company (MMM)vs › | $89.02B | 39.40% | 40.28% | 40.80% | 43.11% |
| Canadian Pacific Kansas City Ltd. (CP)vs › | $81.99B | 46.67% | 52.01% | 51.86% | 53.71% |
| Illinois Tool Works Inc. (ITW)vs › | $81.42B | 44.12% | 43.88% | 42.30% | 41.61% |
| Cummins Inc. (CMI)vs › | $91.71B | 25.39% | 25.02% | 24.55% | 24.43% |
| Norfolk Southern Corporation (NSC)vs › | $78.76B | 42.43% | 36.74% | 33.43% | 34.60% |
| Canadian National Railway Company (CNI)vs › | $78.54B | 44.21% | 42.87% | 42.87% | 42.52% |
Gross Margin
15.8%
(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 | 15.84% |
| 2025-12-31 | 20.77% |
| 2025-09-30 | 16.28% |
| 2025-06-30 | 17.81% |
| 2025-03-31 | 17.08% |
| 2024-12-31 | 20.81% |
| 2024-09-30 | 17.07% |
| 2024-06-30 | 17.34% |
| 2024-03-31 | 16.48% |
| 2023-12-31 | 19.81% |
| 2023-09-30 | 15.92% |
| 2023-06-30 | 21.29% |
| 2023-03-31 | 19.51% |
| 2022-12-31 | 20.66% |
| 2022-09-30 | 20.91% |
| 2022-06-30 | 22.09% |
| 2022-03-31 | 20.76% |
| 2021-12-31 | 22.75% |
| 2021-09-30 | 20.37% |
| 2021-06-30 | 21.55% |
| 2021-03-31 | 20.22% |
| 2020-12-31 | 19.76% |
| 2020-09-30 | 18.67% |
| 2020-06-30 | 18.85% |
| 2020-03-31 | 14.54% |
| 2019-12-31 | 19.12% |
| 2019-09-30 | 19.07% |
| 2019-06-30 | 19.34% |
| 2019-03-31 | 15.82% |
| 2018-12-31 | 17.88% |
| 2018-09-30 | 17.56% |
| 2018-06-30 | 17.77% |
| 2018-03-31 | 16.46% |
| 2017-12-31 | 18.89% |
| 2017-09-30 | 18.63% |
| 2017-06-30 | 20.03% |
| 2017-03-31 | 19.16% |
| 2016-12-31 | 20.49% |
| 2016-09-30 | 20.53% |
| 2016-06-30 | 21.42% |
| 2016-03-31 | 45.53% |
| 2015-12-31 | 47.03% |
| 2015-09-30 | 47.62% |
| 2015-06-30 | 46.78% |
| 2015-03-31 | 45.88% |
| 2014-12-31 | 42.20% |
| 2014-09-30 | 49.50% |
| 2014-06-30 | 41.30% |
| 2014-03-31 | 47.27% |
| 2013-12-31 | 48.94% |
| 2013-09-30 | 48.52% |
| 2013-06-30 | 48.32% |
| 2013-03-31 | 48.13% |
| 2012-12-31 | 18.04% |
| 2012-09-30 | 76.91% |
| 2012-06-30 | 77.15% |
| 2012-03-31 | 76.83% |
| 2011-12-31 | 69.19% |
| 2011-09-30 | 76.19% |
| 2011-06-30 | 76.23% |
| 2011-03-31 | 77.18% |
| 2010-12-31 | 77.52% |
| 2010-09-30 | 78.17% |
| 2010-06-30 | 80.91% |
| 2010-03-31 | 79.08% |
| 2009-12-31 | 78.69% |
| 2009-09-30 | 80.29% |
| 2009-06-30 | 81.53% |
| 2009-03-31 | 81.86% |
| 2008-12-31 | 78.67% |
| 2008-09-30 | 75.76% |
| 2008-06-30 | 75.78% |
| 2008-03-31 | 79.92% |
| 2007-12-31 | 78.21% |
| 2007-09-30 | 79.68% |
| 2007-06-30 | 80.45% |
| 2007-03-31 | 81.09% |
| 2006-12-31 | 35.56% |
| 2006-09-30 | 80.66% |
| 2006-06-30 | 80.85% |
| 2006-03-31 | 100.00% |
| 2005-12-31 | 56.50% |
| 2005-09-30 | 76.04% |
| 2005-06-30 | 68.34% |
| 2005-03-31 | 68.83% |
| 2004-12-31 | 56.71% |
| 2004-09-30 | 75.74% |
| 2004-06-30 | 72.02% |
| 2004-03-31 | 71.59% |
| 2003-12-31 | 75.07% |
| 2003-09-30 | 76.53% |
| 2003-06-30 | 75.67% |
| 2003-03-31 | 75.36% |
| 2002-12-31 | 73.74% |
| 2002-09-30 | 75.35% |
| 2002-06-30 | 75.83% |
