Curaleaf Holdings (CURLF) Gross Margin (2019 - 2026)
Curaleaf Holdings (CURLF) recorded Gross Margin of 48.34% in Q3 2026, down 2.18 percentage points from 50.52% a year earlier and down 1.62 percentage points from the prior quarter.
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Analysis
Curaleaf Holdings (CURLF) Gross Margin (2019 - 2026) Analysis & Trends
On a TTM basis, Curaleaf Holdings' Gross Margin came in at 48.85% as of Sep 30, 2026, down 1.10 percentage points year-over-year; for FY2025, it came in at 49.76%, up 1.74 percentage points from FY2024.
- Annual Gross Margin has a five-year change of -12.56 percentage points (FY2020 to FY2025).
- Across earlier years, Gross Margin came in at 48.02% in FY2024 (+2.39 pp), 45.63% in FY2023 (-3.49 pp), 49.11% in FY2022 (+1.47 pp) and 47.65% in FY2021 (-14.67 pp).
- The Q3 2026 figure is the lowest quarterly Gross Margin since Q2 2024.
- On a year-over-year basis, Gross Margin rose in five of the last eight quarters, with an average year-over-year change of +0.90 percentage points.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 11.51 percentage points in Q4 2023, against a drop of 13.80 percentage points in Q4 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 49.96% (Q2 2026), 48.51% (Q1 2026) and 48.58% (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 303.52 Bn | 280.52 Bn | 7.85 Bn | 68.67% |
| 2 | British American Tobacco p.l.c | 132.82 Bn | 111.64 Bn | - | - |
| 3 | Altria | 126.54 Bn | 113.47 Bn | 3.94 Bn | 64.27% |
| 4 | Curaleaf Holdings | 2.37 Bn | 2.00 Bn | 170.48 Mn | 48.34% |
| 5 | Trulieve Cannabis | 2.11 Bn | 729.12 Mn | 162.29 Mn | 59.90% |
| 6 | RLX Technology | 1.96 Bn | -1.30 Bn | - | - |
| 7 | Green Thumb Industries | 1.45 Bn | 214.02 Mn | 146.79 Mn | 45.25% |
| 8 | Cronos | 1.30 Bn | -1.97 Bn | 28.45 Mn | 40.30% |
| 9 | Turning Point Brands | 1.27 Bn | 375.50 Mn | 93.70 Mn | 65.55% |
| 10 | Tilray Brands | 363.35 Mn | -604.15 Mn | 77.51 Mn | 30.14% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 48.34% |
| Jun 30, 2026 | 49.96% |
| Mar 31, 2026 | 48.51% |
| Dec 31, 2025 | 50.58% |
| Sep 30, 2025 | 49.88% |
| Jun 30, 2025 | 49.29% |
| Mar 31, 2025 | 50.74% |
| Dec 31, 2024 | 49.26% |
| Sep 30, 2024 | 48.56% |
| Jun 30, 2024 | 46.88% |
| Mar 31, 2024 | 47.47% |
| Dec 31, 2023 | 45.24% |
| Sep 30, 2023 | 45.04% |
| Jun 30, 2023 | 44.04% |
| Mar 31, 2023 | 48.23% |
| Dec 31, 2022 | 33.73% |
| Sep 30, 2022 | 51.47% |
| Jun 30, 2022 | 54.74% |
| Mar 31, 2022 | 54.49% |
| Dec 31, 2021 | 47.53% |
API Access
Curaleaf 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=CURLF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "CURLF", "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=CURLF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();