Icu Medical (ICUI) Gross Margin (2009 - 2026)
Icu Medical (ICUI) reported Gross Margin of 38.89% for Q1 2026, up 415.0% on a YoY basis from 7.55% in Q1 2025, and up 3.6% quarter-over-quarter from 37.54% in Q4 2025.
Icu Medical (ICUI) Gross Margin (2009 - 2026) Analysis & Trends
Icu Medical has reported Gross Margin for 18 years, with the latest figure at 38.89% in Q1 2026.
- For the quarter ending Q1 2026, Gross Margin rose 415.0% year-over-year to 38.89%; the trailing twelve-month figure through Mar 2026 stood at 37.93% (up 283.0% YoY), and the FY2025 full-year result was 36.84%, up 222.0% from the prior year.
- Gross Margin for Q1 2026 stood at 38.89%, up from 37.54% in the prior quarter.
- The five-year high for Gross Margin was 38.89% in Q1 2026, with the low at 29.19% in Q4 2023.
- Historically, Gross Margin has averaged 34.03% across 5 years, with a median of 34.75% in 2025.
- Annual changes were most pronounced in 2022 — Gross Margin slumped 853 bps — and 2024, when it surged 690 bps.
- Icu Medical's Gross Margin stood at 30.27% in 2022, then retreated by 4 bps to 29.19% in 2023, then rose by 24 bps to 36.08% in 2024, then gained by 4 bps to 37.54% in 2025, then climbed by 4 bps to 38.89% in 2026.
- The last three Gross Margin figures came in at 38.89% (Q1 2026), 37.54% (Q4 2025), and 37.41% (Q3 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Intuitive Surgical | 148.09 Bn | 143.69 Bn | 1.83 Bn | 66.06% |
| 2 | Becton Dickinson | 41.00 Bn | 39.99 Bn | 2.15 Bn | 45.69% |
| 3 | Medline | 30.38 Bn | 36.22 Bn | 1.84 Bn | 25.04% |
| 4 | Resmed | 28.22 Bn | 26.56 Bn | 890.98 Mn | 62.25% |
| 5 | West Pharmaceutical Services | 23.72 Bn | 23.19 Bn | 296.40 Mn | 35.08% |
| 6 | Solventum | 13.33 Bn | 13.33 Bn | 1.10 Bn | 54.66% |
| 7 | Cooper Companies | 13.12 Bn | 12.99 Bn | 735.40 Mn | 68.00% |
| 8 | Align Technology | 12.86 Bn | 11.80 Bn | 736.59 Mn | 70.82% |
| 9 | Baxter International | 10.51 Bn | 8.47 Bn | 891.00 Mn | 32.99% |
| 10 | Icu Medical | 3.52 Bn | 3.23 Bn | 206.23 Mn | 38.89% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 38.89% |
| Dec 31, 2025 | 37.54% |
| Sep 30, 2025 | 37.41% |
| Jun 30, 2025 | 37.91% |
| Mar 31, 2025 | 34.75% |
| Dec 31, 2024 | 36.08% |
| Sep 30, 2024 | 34.77% |
| Jun 30, 2024 | 34.78% |
| Mar 31, 2024 | 32.69% |
| Dec 31, 2023 | 29.19% |
| Sep 30, 2023 | 33.24% |
| Jun 30, 2023 | 35.01% |
| Mar 31, 2023 | 33.77% |
| Dec 31, 2022 | 30.27% |
| Sep 30, 2022 | 31.18% |
| Jun 30, 2022 | 29.87% |
| Mar 31, 2022 | 31.08% |
| Dec 31, 2021 | 37.44% |
| Sep 30, 2021 | 38.03% |
| Jun 30, 2021 | 38.40% |