Green Thumb Industries (GTBIF) Gross Margin (2019 - 2026)
Green Thumb Industries' Gross Margin came in at 44.96% for Q2 2026, down 4.92 percentage points from 49.87% a year earlier and down 2.89 percentage points from the prior quarter.
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Analysis
Green Thumb Industries (GTBIF) Gross Margin (2019 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Green Thumb Industries reported Gross Margin of 46.87%, down 4.70 percentage points year-over-year; for FY2025, it came in at 48.91%, down 3.95 percentage points from FY2024.
- Gross Margin carries a five-year change of -5.74 percentage points (FY2020 to FY2025).
- Going back by year, Gross Margin was 52.86% in FY2024 (+2.94 pp), 49.93% in FY2023 (+0.39 pp), 49.54% in FY2022 (-5.52 pp) and 55.05% in FY2021 (+0.40 pp).
- The Q2 2026 figure represents the lowest quarterly Gross Margin in data going back to Q1 2019.
- Year-over-year, Gross Margin has declined for six consecutive quarters, with an average year-over-year change of -2.31 percentage points over the last eight quarters.
- The fastest year-over-year change in Gross Margin over five years came in Q2 2024 (a gain of 4.09 percentage points), and the weakest in Q4 2025 (a drop of 8.28 percentage points).
- Business Quant data shows GTBIF's Gross Margin at 47.85% (Q1 2026), 45.43% (Q4 2025) and 49.43% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 302.31 Bn | 283.88 Bn | 7.66 Bn | 68.43% |
| 2 | British American Tobacco p.l.c | 126.84 Bn | 105.99 Bn | - | - |
| 3 | Altria | 114.73 Bn | 100.93 Bn | 3.82 Bn | 62.51% |
| 4 | Curaleaf Holdings | 2.84 Bn | 2.44 Bn | 169.91 Mn | 49.96% |
| 5 | RLX Technology | 2.65 Bn | -916.64 Mn | 52.74 Mn | 35.41% |
| 6 | Trulieve Cannabis | 2.39 Bn | 1.00 Bn | 162.29 Mn | 59.90% |
| 7 | Green Thumb Industries | 1.49 Bn | 344.56 Mn | 137.87 Mn | 44.96% |
| 8 | Cronos | 1.25 Bn | -1.97 Bn | 28.45 Mn | 40.30% |
| 9 | Turning Point Brands | 1.21 Bn | 336.94 Mn | 93.70 Mn | 65.55% |
| 10 | Verano Holdings | 877.15 Mn | 550.77 Mn | 99.70 Mn | 45.75% |
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% |
API Access
Green Thumb Industries 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=GTBIF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "GTBIF", "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=GTBIF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();