Oatly Group AB (OTLY) Gross Margin (2020 - 2026)
Oatly Group AB's Gross Margin came in at 34.14% for Q3 2026, up 4.36 percentage points from 29.78% a year earlier and up 0.25 percentage points from the prior quarter.
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Analysis
Oatly Group AB (OTLY) Gross Margin (2020 - 2026) Analysis & Trends
Over the trailing twelve months to Sep 30, 2026, Oatly Group AB reported Gross Margin of 34.01%, up 3.41 percentage points year-over-year; for FY2025, it was 32.12%, up 3.41 percentage points from FY2024.
- Gross Margin has increased in each of the last three years, with a five-year change of +1.45 percentage points (FY2020 to FY2025).
- Going back by year, Gross Margin was 28.71% in FY2024 (+9.30 pp), 19.41% in FY2023 (+8.33 pp), 11.08% in FY2022 (-13.02 pp) and 24.10% in FY2021 (-6.57 pp).
- The five-year range for quarterly Gross Margin is 2.72% (Q3 2022) to 34.54% (Q4 2025).
- Year-over-year, Gross Margin has increased for four consecutive quarters, with an average year-over-year change of +3.32 percentage points over the last eight quarters.
- The fastest year-over-year change in Gross Margin over five years came in Q3 2023 (a gain of 14.64 percentage points), and the weakest in Q3 2022 (a drop of 23.51 percentage points).
- Business Quant data shows OTLY's Gross Margin at 33.89% (Q2 2026), 33.43% (Q1 2026) and 34.54% (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coca Cola | 413.22 Bn | 399.53 Bn | 8.45 Bn | 63.15% |
| 2 | Diageo | 224.45 Bn | 204.52 Bn | - | - |
| 3 | Coca Cola Femsa Sab De Cv | 196.49 Bn | 189.17 Bn | - | - |
| 4 | Pepsico | 192.84 Bn | 150.60 Bn | 13.75 Bn | 54.42% |
| 5 | Anheuser-Busch InBev | 148.28 Bn | 110.64 Bn | - | - |
| 6 | Monster Beverage | 88.63 Bn | 76.88 Bn | 1.42 Bn | 55.95% |
| 7 | Coca-Cola Europacific Partners | 53.10 Bn | 46.73 Bn | - | - |
| 8 | Keurig Dr Pepper | 50.04 Bn | 46.09 Bn | 3.07 Bn | 41.95% |
| 9 | Ambev | 43.10 Bn | 28.94 Bn | - | - |
| 10 | Oatly Group AB | 249.85 Mn | -26.00 Mn | 81.36 Mn | 33.89% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 34.14% |
| Jun 30, 2026 | 33.89% |
| Mar 31, 2026 | 33.43% |
| Dec 31, 2025 | 34.54% |
| Sep 30, 2025 | 29.78% |
| Jun 30, 2025 | 32.46% |
| Mar 31, 2025 | 31.55% |
| Dec 31, 2024 | 28.75% |
| Sep 30, 2024 | 29.82% |
| Jun 30, 2024 | 29.16% |
| Mar 31, 2024 | 27.06% |
| Dec 31, 2023 | 23.41% |
| Sep 30, 2023 | 17.36% |
| Jun 30, 2023 | 19.21% |
| Mar 31, 2023 | 17.42% |
| Dec 31, 2022 | 15.92% |
| Sep 30, 2022 | 2.72% |
| Jun 30, 2022 | 15.81% |
| Mar 31, 2022 | 9.54% |
| Dec 31, 2021 | 15.92% |
API Access
Oatly Group AB 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=OTLY&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "OTLY", "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=OTLY&period=max&api_key=YOUR_API_KEY");
const data = await res.json();