Green Thumb Industries (GTBIF) Net Margin (2019 - 2026)
Green Thumb Industries' Net Margin came in at 1.59% for Q2 2026, up 1.81 percentage points from -0.22% a year earlier but down 3.54 percentage points from the prior quarter.
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Analysis
Green Thumb Industries (GTBIF) Net Margin (2019 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Green Thumb Industries reported Net Margin of 10.48%, up 7.97 percentage points year-over-year; for FY2025, it was 9.71%, up 3.29 percentage points from FY2024.
- Net Margin has increased in each of the last three years, with a five-year change of +7.02 percentage points (FY2020 to FY2025).
- Going back by year, Net Margin was 6.43% in FY2024 (+2.99 pp), 3.44% in FY2023 (+2.26 pp), 1.18% in FY2022 (-7.26 pp) and 8.44% in FY2021 (+5.75 pp).
- The five-year range for quarterly Net Margin is -19.76% (Q4 2022) to 26.74% (Q4 2025).
- Year-over-year, Net Margin has increased for four consecutive quarters, with an average year-over-year change of +2.23 percentage points over the last eight quarters.
- The fastest year-over-year change in Net Margin over five years came in Q4 2025 (a gain of 22.43 percentage points), and the weakest in Q4 2022 (a drop of 29.12 percentage points).
- Business Quant data shows GTBIF's Net Margin at 5.13% (Q1 2026), 26.74% (Q4 2025) and 7.99% (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Philip Morris International | 302.85 Bn | 281.83 Bn | 7.85 Bn | 28.96% |
| 2 | British American Tobacco p.l.c | 140.62 Bn | 117.27 Bn | - | - |
| 3 | Altria | 126.99 Bn | 113.97 Bn | 3.94 Bn | 41.06% |
| 4 | RLX Technology | 2.37 Bn | -1.38 Bn | 52.74 Mn | 4.33% |
| 5 | Curaleaf Holdings | 2.36 Bn | 1.98 Bn | 170.48 Mn | -9.28% |
| 6 | Verano Holdings | 2.05 Bn | 1.71 Bn | 100.04 Mn | -1.91% |
| 7 | Trulieve Cannabis | 1.89 Bn | 629.78 Mn | 148.02 Mn | 0.38% |
| 8 | Green Thumb Industries | 1.59 Bn | 362.48 Mn | 146.79 Mn | -1.49% |
| 9 | Cronos | 1.25 Bn | -1.89 Bn | 32.28 Mn | 16.45% |
| 10 | Turning Point Brands | 1.25 Bn | 333.93 Mn | 85.18 Mn | 2.60% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | -1.49% |
| Jun 30, 2026 | 1.59% |
| Mar 31, 2026 | 5.13% |
| Dec 31, 2025 | 4.32% |
| Sep 30, 2025 | 7.99% |
| Jun 30, 2025 | -0.22% |
| Mar 31, 2025 | 2.97% |
| Dec 31, 2024 | 4.31% |
| Sep 30, 2024 | 3.00% |
| Jun 30, 2024 | 7.39% |
| Mar 31, 2024 | 11.27% |
| Dec 31, 2023 | 1.16% |
| Sep 30, 2023 | 3.82% |
| Jun 30, 2023 | 5.31% |
| Mar 31, 2023 | 3.68% |
| Dec 31, 2022 | -19.76% |
| Sep 30, 2022 | 3.76% |
| Jun 30, 2022 | 9.61% |
| Mar 31, 2022 | 11.93% |
| Dec 31, 2021 | 9.36% |
API Access
Green Thumb Industries Net 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=net-margin&ticker=GTBIF&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-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=net-margin&ticker=GTBIF&period=max&api_key=YOUR_API_KEY");
const data = await res.json();