Elastic (ESTC) Gross Margin (2017 - 2026)
Elastic (ESTC) recorded Gross Margin of 74.50% in fiscal Q1 2027 (quarter ended Jul 31, 2026), down 2.21 percentage points from 76.70% a year earlier and down 0.86 percentage points from the prior quarter.
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Analysis
Elastic (ESTC) Gross Margin (2017 - 2026) Analysis & Trends
On a TTM basis, Elastic's Gross Margin came in at 75.50% as of Jul 31, 2026, up 0.32 percentage points year-over-year; for FY2026 (ended Apr 30, 2026), it was 76.07%, up 1.68 percentage points from FY2025.
- Annual Gross Margin has increased for three straight fiscal years, with a five-year change of +2.53 percentage points (FY2021 to FY2026).
- Across earlier fiscal years, Gross Margin came in at 74.39% in FY2025 (+0.44 pp), 73.95% in FY2024 (+1.70 pp), 72.25% in FY2023 (-0.82 pp) and 73.08% in FY2022 (-0.46 pp).
- The fiscal Q1 2027 figure is the lowest quarterly Gross Margin since fiscal Q2 2025.
- On a year-over-year basis, Gross Margin rose in seven of the last eight quarters, with an average year-over-year change of +0.79 percentage points.
- Peak year-over-year performance for Gross Margin in the last five years was a gain of 3.11 percentage points in fiscal Q1 2026, against a drop of 3.46 percentage points in fiscal Q1 2023 at the low end.
- Per Business Quant, the preceding three fiscal quarters came in at 75.36% (Q4 2026), 76.34% (Q3 2026) and 75.91% (Q2 2026).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 319.55 Bn | 304.63 Bn | 2.30 Bn | 67.57% |
| 2 | CrowdStrike Holdings | 265.46 Bn | 245.90 Bn | 1.10 Bn | 74.57% |
| 3 | Fortinet | 129.36 Bn | 115.29 Bn | 1.64 Bn | 80.24% |
| 4 | Snowflake | 115.65 Bn | 102.97 Bn | 1.04 Bn | 67.02% |
| 5 | Datadog | 96.45 Bn | 78.09 Bn | 881.34 Mn | 78.59% |
| 6 | Axon Enterprise | 34.50 Bn | 29.03 Bn | 546.45 Mn | 60.42% |
| 7 | Okta | 33.79 Bn | 23.89 Bn | 641.00 Mn | 79.63% |
| 8 | Zscaler | 32.51 Bn | 18.63 Bn | - | - |
| 9 | Baidu | 29.59 Bn | -44.04 Bn | 1.47 Mn | 0.03% |
| 10 | Elastic | 9.24 Bn | 3.77 Bn | 356.19 Mn | 74.50% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 74.50% |
| Apr 30, 2026 | 75.36% |
| Jan 31, 2026 | 76.34% |
| Oct 31, 2025 | 75.91% |
| Jul 31, 2025 | 76.70% |
| Apr 30, 2025 | 74.83% |
| Jan 31, 2025 | 74.57% |
| Oct 31, 2024 | 74.50% |
| Jul 31, 2024 | 73.59% |
| Apr 30, 2024 | 73.77% |
| Jan 31, 2024 | 74.19% |
| Oct 31, 2023 | 74.22% |
| Jul 31, 2023 | 73.63% |
| Apr 30, 2023 | 73.68% |
| Jan 31, 2023 | 72.61% |
| Oct 31, 2022 | 71.73% |
| Jul 31, 2022 | 70.82% |
| Apr 30, 2022 | 71.86% |
| Jan 31, 2022 | 72.63% |
| Oct 31, 2021 | 73.84% |
API Access
Elastic 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=ESTC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "ESTC", "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=ESTC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();