Leslie's (LESL) Gross Margin (2019 - 2026)
Leslie's' (LESL) quarterly Gross Margin came in at 28.88% in Q2 2026, up 407.0% year-on-year from 5.7% in Q2 2025, and up 56.95% quarter-over-quarter from 18.4% in Q1 2026.
Leslie's (LESL) Gross Margin (2019 - 2026) Analysis & Trends
Leslie's' Gross Margin history runs 8 years deep, the most recent figure standing at 28.88% for Q2 2026.
- On a quarterly basis, Gross Margin rose 407.0% year-over-year to 28.88% in Q2 2026; TTM through Apr 2026 was 35.07%, a 6.0% decrease from a year earlier, with the FY2025 full-year figure at 35.4%, down 44.0% from the prior year.
- Gross Margin rose to 28.88% in Q2 2026 per LESL's latest filing, from 18.4% in the prior quarter.
- Across five years, Gross Margin topped out at 45.67% in Q4 2022 and bottomed at 18.4% in Q1 2026.
- The 5-year median for Gross Margin is 36.21% (2022), against an average of 34.51%.
- Biggest YoY gain for Gross Margin was 407 bps in 2026; the steepest drop was 883 bps in 2026.
- Year by year, Gross Margin stood at 33.47% in 2022, then retreated by 13 bps to 28.98% in 2023, then retreated by 6 bps to 27.23% in 2024, then jumped by 42 bps to 38.56% in 2025, then fell by 25 bps to 28.88% in 2026.
- Per Business Quant, the three latest LESL Gross Margin figures stand at 28.88% (Q2 2026), 18.4% (Q1 2026), and 38.56% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Caseys General Stores | 32.13 Bn | 31.61 Bn | 1.08 Bn | 23.63% |
| 2 | NaaS Technology | 30.58 Bn | 30.58 Bn | - | - |
| 3 | Williams Sonoma | 28.34 Bn | 27.33 Bn | 1.10 Bn | 46.87% |
| 4 | Ulta Beauty | 23.18 Bn | 22.69 Bn | 1.48 Bn | 38.06% |
| 5 | Best Buy | 18.52 Bn | 16.77 Bn | 2.10 Bn | 23.52% |
| 6 | Dick'S Sporting Goods | 16.59 Bn | 15.24 Bn | 1.77 Bn | 28.43% |
| 7 | MINISO Group Holding | 16.05 Bn | 14.98 Bn | 414.86 Mn | 46.39% |
| 8 | Tractor Supply | 15.89 Bn | 15.66 Bn | 1.30 Bn | 36.22% |
| 9 | Five Below | 12.09 Bn | 11.16 Bn | 696.98 Mn | 40.32% |
| 10 | Leslie's | 8.11 Mn | -8.80 Mn | 53.35 Mn | 28.88% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 4, 2026 | 28.88% |
| Jan 3, 2026 | 18.40% |
| Oct 4, 2025 | 38.56% |
| Jun 28, 2025 | 39.55% |
| Mar 29, 2025 | 24.81% |
| Dec 28, 2024 | 27.23% |
| Sep 28, 2024 | 36.00% |
| Jun 29, 2024 | 40.17% |
| Mar 30, 2024 | 28.80% |
| Dec 30, 2023 | 28.98% |
| Sep 30, 2023 | 37.04% |
| Jul 1, 2023 | 41.19% |
| Apr 1, 2023 | 33.44% |
| Dec 31, 2022 | 33.47% |
| Oct 1, 2022 | 45.67% |
| Jul 2, 2022 | 45.07% |
| Apr 2, 2022 | 37.54% |
| Jan 1, 2022 | 36.42% |
| Oct 2, 2021 | 45.99% |
| Jul 3, 2021 | 47.56% |