Grail (GRAL) Gross Margin (2023 - 2026)
Grail (GRAL) reported Gross Margin of 46.78% for Q2 2026, up 2.62 percentage points from 44.16% a year earlier but down 0.21 percentage points from the prior quarter.
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Analysis
Grail (GRAL) Gross Margin (2023 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Grail's Gross Margin came in at 48.03%, up 4.85 percentage points year-over-year; for FY2025, it came in at 48.46%, up 3.98 percentage points from FY2024.
- Gross Margin has increased for three consecutive years, with a three-year change of +17.06 percentage points (FY2022 to FY2025).
- By year, Gross Margin came in at 44.48% in FY2024 (+3.37 pp), 41.11% in FY2023 (+9.71 pp) and 31.40% in FY2022.
- Five-year quarterly Gross Margin spans a low of 39.23% in Q3 2024 and a high of 60.24% in Q2 2023.
- Year over year, Gross Margin gained in three of the last seven quarters, with an average year-over-year change of +1.04 percentage points.
- The high point for year-over-year Gross Margin in five years was Q3 2025 (a gain of 15.31 percentage points); the low point was Q2 2024 (a drop of 11.57 percentage points).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 106.01 Bn | 102.11 Bn | - | - |
| 2 | Natera | 44.89 Bn | 40.52 Bn | 513.47 Mn | 64.67% |
| 3 | Labcorp Holdings | 29.72 Bn | 27.81 Bn | 1.11 Bn | 29.08% |
| 4 | Quest Diagnostics | 27.94 Bn | 25.70 Bn | 1.04 Bn | 33.65% |
| 5 | Tenet Healthcare | 22.59 Bn | 11.89 Bn | - | - |
| 6 | Guardant Health | 19.80 Bn | 15.42 Bn | 236.15 Mn | 65.42% |
| 7 | Encompass Health | 13.47 Bn | 13.11 Bn | - | - |
| 8 | BrightSpring Health Services | 13.42 Bn | 11.17 Bn | 518.55 Mn | 12.31% |
| 9 | Tempus AI | 13.11 Bn | 10.26 Bn | 266.70 Mn | 64.81% |
| 10 | Grail | 5.56 Bn | 2.18 Bn | 15.36 Mn | 40.93% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 40.93% |
| Jun 30, 2026 | 46.78% |
| Mar 31, 2026 | 46.99% |
| Sep 30, 2025 | 54.54% |
| Jun 30, 2025 | 44.16% |
| Mar 31, 2025 | 42.54% |
| Dec 31, 2024 | 45.76% |
| Sep 30, 2024 | 39.23% |
| Jun 30, 2024 | 48.67% |
| Mar 31, 2024 | 43.27% |
| Dec 31, 2023 | 47.05% |
| Oct 1, 2023 | 47.80% |
| Jun 30, 2023 | 60.24% |
API Access
Grail 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=GRAL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "GRAL", "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=GRAL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();