Ascend Wellness Holdings (AAWH) Gross Margin (2020 - 2026)
Ascend Wellness Holdings (AAWH) reported Gross Margin of 36.07% for Q2 2026, up 3.56 percentage points from 32.51% a year earlier but down 2.31 percentage points from the prior quarter.
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Analysis
Ascend Wellness Holdings (AAWH) Gross Margin (2020 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Ascend Wellness Holdings' Gross Margin came in at 36.68%, up 4.49 percentage points year-over-year; for FY2025, it came in at 33.90%, up 1.10 percentage points from FY2024.
- Gross Margin has a five-year change of -8.48 percentage points (FY2020 to FY2025).
- By year, Gross Margin came in at 32.80% in FY2024 (+2.89 pp), 29.91% in FY2023 (-3.24 pp), 33.15% in FY2022 (-7.76 pp) and 40.91% in FY2021 (-1.47 pp).
- Five-year quarterly Gross Margin spans a low of 23.03% in Q2 2023 and a high of 43.39% in Q3 2021.
- Year over year, Gross Margin has now increased in each of the last five quarters, with an average year-over-year change of +2.02 percentage points over the last eight quarters.
- The high point for year-over-year Gross Margin in five years was Q1 2026 (a gain of 7.47 percentage points); the low point was Q1 2022 (a drop of 17.30 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 38.38% (Q1 2026), 37.43% (Q4 2025) and 34.96% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 302.31 Bn | 283.88 Bn | 7.66 Bn | 68.43% |
| 2 | British American Tobacco p.l.c | 126.84 Bn | 105.99 Bn | - | - |
| 3 | Altria | 114.73 Bn | 100.93 Bn | 3.82 Bn | 62.51% |
| 4 | Curaleaf Holdings | 2.84 Bn | 2.44 Bn | 169.91 Mn | 49.96% |
| 5 | RLX Technology | 2.65 Bn | -916.64 Mn | 52.74 Mn | 35.41% |
| 6 | Trulieve Cannabis | 2.39 Bn | 1.00 Bn | 162.29 Mn | 59.90% |
| 7 | Green Thumb Industries | 1.49 Bn | 344.56 Mn | 137.87 Mn | 44.96% |
| 8 | Cronos | 1.25 Bn | -1.97 Bn | 28.45 Mn | 40.30% |
| 9 | Turning Point Brands | 1.21 Bn | 336.94 Mn | 93.70 Mn | 65.55% |
| 10 | Ascend Wellness Holdings | 259.90 Mn | -40.14 Mn | 45.49 Mn | 36.07% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 36.07% |
| Mar 31, 2026 | 38.38% |
| Dec 31, 2025 | 37.43% |
| Sep 30, 2025 | 34.96% |
| Jun 30, 2025 | 32.51% |
| Mar 31, 2025 | 30.91% |
| Dec 31, 2024 | 34.46% |
| Sep 30, 2024 | 30.87% |
| Jun 30, 2024 | 29.37% |
| Mar 31, 2024 | 36.54% |
| Dec 31, 2023 | 33.92% |
| Sep 30, 2023 | 30.83% |
| Jun 30, 2023 | 23.03% |
| Mar 31, 2023 | 31.27% |
| Dec 31, 2022 | 37.03% |
| Sep 30, 2022 | 32.93% |
| Jun 30, 2022 | 33.81% |
| Mar 31, 2022 | 27.56% |
| Dec 31, 2021 | 34.84% |
| Sep 30, 2021 | 43.39% |
API Access
Ascend Wellness Holdings Gross Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=gross-margin&ticker=AAWH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "AAWH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=gross-margin&ticker=AAWH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();