Glass House Brands (GLAS) Operating Margin (2020 - 2026)

Glass House Brands (GLAS) posted quarterly Operating Margin of 35.42% for Q1 2026, down 8.5% quarter-over-quarter from 32.64% in Q4 2025.

Glass House Brands (GLAS) Operating Margin (2020 - 2026) Analysis & Trends

Glass House Brands (GLAS) has reported Operating Margin for 7 consecutive years, with 35.42% the latest figure, recorded in Q1 2026.

In Q1 2026, Operating Margin changed N/A year-over-year to 35.42%; the TTM figure through Mar 2026 stood at 15.63% (changed N/A YoY), while the FY2025 annual figure was 9.08%, down 1194.0% from the prior year.
Operating Margin retreated to 35.42% in Q1 2026 per GLAS's latest filing, from 32.64% in the prior quarter.
Across five years, Operating Margin topped out at 103.37% in Q2 2022 and bottomed at 98.5% in Q1 2022.
Historically, Operating Margin has averaged 3.84% across 5 years, with a median of 11.19% in 2025.
Annual changes were most pronounced in 2022 — Operating Margin jumped 10337 bps — and 2023, when it plunged 9615 bps.
Glass House Brands' Operating Margin stood at 55.12% in 2022, then sank by 87 bps to 7.22% in 2023, then gained by 30 bps to 9.35% in 2024, then slumped by 449 bps to 32.64% in 2025, then slipped by 8 bps to 35.42% in 2026.
Business Quant data shows GLAS's Operating Margin at 35.42% in Q1 2026, 32.64% in Q4 2025, and 29.6% in Q3 2025.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Operating Margin (Qtr)
1	Haleon	43.91 Bn	42.95 Bn	-	-
2	Teva Pharmaceutical Industries	43.07 Bn	39.42 Bn	2.15 Bn	-5.58%
3	Zoetis	31.54 Bn	29.86 Bn	1.05 Bn	33.91%
4	Takeda Pharmaceutical	28.61 Bn	22.81 Bn	5.10 Bn	16.51%
5	United Therapeutics	22.19 Bn	19.53 Bn	683.80 Mn	42.23%
6	Viatris	18.68 Bn	17.79 Bn	1.46 Bn	0.17%
7	Neurocrine Biosciences	15.50 Bn	15.11 Bn	935.80 Mn	15.80%
8	Elanco Animal Health	11.76 Bn	11.23 Bn	798.00 Mn	18.13%
9	Dr Reddys Laboratories	10.12 Bn	9.96 Bn	-	-
10	Glass House Brands	830.21 Mn	811.66 Mn	15.77 Mn	-6.37%

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