Green Thumb Industries (GTBIF) Gross Margin (2019 - 2026)
Green Thumb Industries' (GTBIF) quarterly Gross Margin came in at 44.96% in Q2 2026, down 492.0% on a YoY basis from 11.47% in Q2 2025, and down 6.05% quarter-over-quarter from 47.85% in Q1 2026.
Analysis
Green Thumb Industries (GTBIF) Gross Margin (2019 - 2026) Analysis & Trends
Green Thumb Industries (GTBIF) has reported Gross Margin for 8 consecutive years, with 44.96% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Gross Margin fell 492.0% year-over-year to 44.96%; the trailing twelve-month figure through Jun 2026 stood at 46.87% (down 470.0% YoY), and the FY2025 full-year result was 48.91%, down 395.0% from the prior year.
- Gross Margin eased to 44.96% in Q2 2026 per GTBIF's latest filing, from 47.85% in the prior quarter.
- Across five years, Gross Margin topped out at 53.73% in Q2 2024 and bottomed at 44.96% in Q2 2026.
- Historically, Gross Margin has averaged 49.9% across 5 years, with a median of 50.03% in 2025.
- The sharpest annual moves came in 2024 and 2025: Gross Margin jumped 409 bps in 2024, then sank 828 bps in 2025.
- Over 5 years, Gross Margin stood at 47.82% in 2022, then advanced by 7 bps to 51.28% in 2023, then grew by 5 bps to 53.71% in 2024, then fell by 15 bps to 45.43% in 2025, then retreated by 1 bps to 44.96% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 44.96%, 47.85%, and 45.43% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Curaleaf Holdings | 2.65 Bn | 2.56 Bn | 169.91 Mn | 49.96% |
| 2 | Trulieve Cannabis | 2.27 Bn | 1.95 Bn | 162.29 Mn | 59.90% |
| 3 | Green Thumb Industries | 1.67 Bn | 1.39 Bn | 137.87 Mn | 44.96% |
| 4 | Cronos | 1.18 Bn | 381.72 Mn | 28.45 Mn | 40.30% |
| 5 | Glass House Brands | 667.78 Mn | 649.22 Mn | 15.77 Mn | 33.54% |
| 6 | Vireo Growth | 545.10 Mn | 402.80 Mn | 95.30 Mn | 45.53% |
| 7 | Tilray Brands | 469.14 Mn | 234.51 Mn | 90.52 Mn | 32.13% |
| 8 | Verano Holdings | 432.98 Mn | 347.78 Mn | 99.70 Mn | 45.75% |
| 9 | Canopy Growth | 396.17 Mn | 149.16 Mn | 16.08 Mn | 22.16% |
| 10 | Sndl | 357.40 Mn | 224.86 Mn | 40.74 Mn | 23.90% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 44.96% |
| Mar 31, 2026 | 47.85% |
| Dec 31, 2025 | 45.43% |
| Sep 30, 2025 | 49.43% |
| Jun 30, 2025 | 49.87% |
| Mar 31, 2025 | 51.25% |
| Dec 31, 2024 | 53.71% |
| Sep 30, 2024 | 51.45% |
| Jun 30, 2024 | 53.73% |
| Mar 31, 2024 | 52.55% |
| Dec 31, 2023 | 51.28% |
| Sep 30, 2023 | 48.59% |
| Jun 30, 2023 | 49.64% |
| Mar 31, 2023 | 50.18% |
| Dec 31, 2022 | 47.82% |
| Sep 30, 2022 | 50.25% |
| Jun 30, 2022 | 49.47% |
| Mar 31, 2022 | 50.68% |
| Dec 31, 2021 | 52.81% |
| Sep 30, 2021 | 55.43% |