Glass House Brands (GLAS) Operating Margin (2018 - 2026)
Glass House Brands (GLAS) recorded Operating Margin of -6.37% in Q2 2026, down 27.97 percentage points from 21.60% a year earlier but up 44.50 percentage points from the prior quarter.
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Analysis
Glass House Brands (GLAS) Operating Margin (2018 - 2026) Analysis & Trends
On a TTM basis, Glass House Brands' Operating Margin came in at -27.21% as of Jun 30, 2026, down 35.20 percentage points year-over-year; for FY2025, it was -9.08%, down 11.94 percentage points from FY2024.
- Annual Operating Margin has a five-year change of +3.35 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at 2.86% in FY2024 (+33.65 pp), -30.79% in FY2023 (+35.65 pp), -66.44% in FY2022 (-9.20 pp) and -57.25% in FY2021 (-44.81 pp).
- Quarterly Operating Margin has ranged from -113.08% in Q1 2022 to 21.60% in Q2 2025 over the past five years.
- On a year-over-year basis, Operating Margin has declined for four consecutive quarters, with an average year-over-year change of -7.14 percentage points over the last seven quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 110.59 percentage points in Q2 2023, against a drop of 98.08 percentage points in Q2 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at -50.87% (Q1 2026), -32.64% (Q4 2025) and -29.60% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 302.14 Bn | 283.71 Bn | 7.66 Bn | 40.48% |
| 2 | British American Tobacco p.l.c | 129.64 Bn | 108.78 Bn | - | - |
| 3 | Altria | 115.45 Bn | 101.65 Bn | 3.82 Bn | 51.32% |
| 4 | Curaleaf Holdings | 2.87 Bn | 2.47 Bn | 169.91 Mn | 1.24% |
| 5 | RLX Technology | 2.63 Bn | -932.13 Mn | 52.74 Mn | 12.90% |
| 6 | Trulieve Cannabis | 2.37 Bn | 989.63 Mn | 162.29 Mn | -136.75% |
| 7 | Green Thumb Industries | 1.53 Bn | 385.54 Mn | 137.87 Mn | 6.51% |
| 8 | Cronos | 1.26 Bn | -1.96 Bn | 28.45 Mn | 10.49% |
| 9 | Turning Point Brands | 1.21 Bn | 343.16 Mn | 93.70 Mn | 11.69% |
| 10 | Glass House Brands | 560.44 Mn | 486.00 Mn | 15.77 Mn | -6.37% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -6.37% |
| Mar 31, 2026 | -50.87% |
| Dec 31, 2025 | -32.64% |
| Sep 30, 2025 | -29.60% |
| Jun 30, 2025 | 21.60% |
| Mar 31, 2025 | -6.94% |
| Dec 31, 2024 | 3.91% |
| Sep 30, 2024 | 11.71% |
| Jun 30, 2024 | 9.35% |
| Dec 31, 2023 | -82.04% |
| Sep 30, 2023 | 10.14% |
| Jun 30, 2023 | 7.22% |
| Dec 31, 2022 | -55.12% |
| Jun 30, 2022 | -103.37% |
| Mar 31, 2022 | -113.08% |
| Dec 31, 2021 | -107.15% |
| Sep 30, 2021 | -55.43% |
| Jun 30, 2021 | -5.29% |
| Mar 31, 2021 | -32.54% |
| Dec 31, 2020 | -12.44% |
API Access
Glass House Brands Operating 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=operating-margin&ticker=GLAS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "GLAS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=GLAS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();