iQIYI (IQ) Gross Margin (2017 - 2026)
iQIYI (IQ) posted Gross Margin of 16.5% for Q2 2026, up 3.54% on a QoQ basis from 15.94% in Q1 2026, and down 364.0% year-over-year from 6.25% in Q2 2025.
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iQIYI (IQ) Gross Margin (2017 - 2026) Analysis & Trends
iQIYI has reported Gross Margin for 10 years, with the latest figure at 16.5% in Q2 2026.
- On a quarterly basis, Gross Margin fell 364.0% year-over-year to 16.5% in Q2 2026; TTM through Jun 2026 was 17.92%, a 496.0% decrease from a year earlier, with the FY2025 full-year figure at 20.77%, down 411.0% from the prior year.
- Gross Margin was 16.5% for Q2 2026 at iQIYI, up from 15.94% in the prior quarter.
- The five-year high for Gross Margin was 28.96% in Q1 2024, with the low at 15.94% in Q1 2026.
- Average Gross Margin over 5 years is 23.18%, with a median of 23.65% recorded in 2024.
- The sharpest annual moves came in 2022 and 2026: Gross Margin soared 1693 bps in 2022, then sank 883 bps in 2026.
- Over 5 years, Gross Margin stood at 28.85% in 2022, then fell by 2 bps to 28.2% in 2023, then dropped by 13 bps to 24.48% in 2024, then slipped by 15 bps to 20.87% in 2025, then retreated by 21 bps to 16.5% in 2026.
- The last three Gross Margin figures came in at 16.5% (Q2 2026), 15.94% (Q1 2026), and 20.87% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Netflix | 321.15 Bn | 312.02 Bn | 6.52 Bn | 51.93% |
| 2 | Spotify Technology | 108.56 Bn | 97.65 Bn | 1.86 Bn | 33.41% |
| 3 | Tencent Music Entertainment | 12.38 Bn | 8.87 Bn | 582.00 Mn | - |
| 4 | Huya | 485.14 Mn | 124.88 Mn | 37.58 Mn | 14.66% |
| 5 | iQIYI | 427.67 Mn | -43.23 Mn | 152.37 Mn | 16.50% |
| 6 | FuboTV | 324.08 Mn | -128.33 Mn | 399.10 Mn | 106.36% |
| 7 | Kaltura | 221.37 Mn | 190.08 Mn | 34.54 Mn | 73.65% |
| 8 | CuriosityStream | 157.45 Mn | 109.05 Mn | 16.93 Mn | 72.84% |
| 9 | Cineverse | 47.34 Mn | 43.02 Mn | 10.66 Mn | 34.84% |
| 10 | LiveOne | 46.60 Mn | 37.94 Mn | 3.94 Mn | 20.36% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 16.50% |
| Mar 31, 2026 | 15.94% |
| Dec 31, 2025 | 20.87% |
| Sep 30, 2025 | 18.19% |
| Jun 30, 2025 | 20.15% |
| Mar 31, 2025 | 24.77% |
| Dec 31, 2024 | 24.48% |
| Sep 30, 2024 | 22.02% |
| Jun 30, 2024 | 23.67% |
| Mar 31, 2024 | 28.96% |
| Dec 31, 2023 | 28.20% |
| Sep 30, 2023 | 27.14% |
| Jun 30, 2023 | 26.00% |
| Mar 31, 2023 | 28.66% |
| Dec 31, 2022 | 28.85% |
| Sep 30, 2022 | 23.64% |
| Jun 30, 2022 | 21.16% |
| Mar 31, 2022 | 18.05% |
| Dec 31, 2021 | 11.92% |
| Sep 30, 2021 | 7.40% |