Ultragenyx Pharmaceutical (RARE) Gross Margin (2018 - 2026)
Ultragenyx Pharmaceutical (RARE) posted quarterly Gross Margin of 77.94% for Q1 2026, down 120.0% year-over-year from 389.71% in Q1 2025, and down 9.2% quarter-over-quarter from 85.84% in Q4 2025.
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Ultragenyx Pharmaceutical (RARE) Gross Margin (2018 - 2026) Analysis & Trends
Ultragenyx Pharmaceutical (RARE) has reported Gross Margin for 9 consecutive years, with 77.94% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin fell 120.0% year-over-year to 77.94%; the TTM figure through Mar 2026 stood at 83.52% (down 149.0% YoY), while the FY2025 annual figure was 83.8%, down 245.0% from the prior year.
- Gross Margin fell to 77.94% in Q1 2026 per RARE's latest filing, from 85.84% in the prior quarter.
- Across five years, Gross Margin topped out at 94.85% in Q4 2022 and bottomed at 77.94% in Q1 2026.
- Historically, Gross Margin has averaged 87.18% across 5 years, with a median of 87.8% in 2023.
- Annual changes were most pronounced in 2022 — Gross Margin slumped 565 bps — and 2025, when it surged 66 bps.
- Ultragenyx Pharmaceutical's Gross Margin stood at 94.85% in 2022, then retreated by 4 bps to 90.69% in 2023, then dropped by 1 bps to 89.57% in 2024, then retreated by 4 bps to 85.84% in 2025, then retreated by 9 bps to 77.94% in 2026.
- Business Quant data shows RARE's Gross Margin at 77.94% in Q1 2026, 85.84% in Q4 2025, and 82.5% in Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 138.47 Bn | 130.62 Bn | 2.84 Bn | 85.33% |
| 2 | Regeneron Pharmaceuticals | 85.18 Bn | 77.19 Bn | 3.93 Bn | 91.59% |
| 3 | Argenx Se | 63.38 Bn | 58.19 Bn | 1.37 Bn | 90.43% |
| 4 | Moderna | 58.09 Bn | 52.95 Bn | 52.00 Mn | 35.86% |
| 5 | Revolution Medicines | 44.33 Bn | 44.33 Bn | - | - |
| 6 | BeOne Medicines | 40.02 Bn | 34.92 Bn | 1.53 Bn | 89.76% |
| 7 | Alnylam Pharmaceuticals | 35.57 Bn | 32.27 Bn | 992.69 Mn | 76.90% |
| 8 | Royalty Pharma | 28.45 Bn | 27.61 Bn | - | - |
| 9 | Insmed | 27.48 Bn | 26.32 Bn | 358.27 Mn | 84.20% |
| 10 | Ultragenyx Pharmaceutical | 1.56 Bn | 1.27 Bn | 180.00 Mn | 84.11% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 84.11% |
| Mar 31, 2026 | 77.94% |
| Dec 31, 2025 | 85.84% |
| Sep 30, 2025 | 82.50% |
| Jun 30, 2025 | 86.23% |
| Mar 31, 2025 | 79.14% |
| Dec 31, 2024 | 89.57% |
| Sep 30, 2024 | 84.93% |
| Jun 30, 2024 | 85.53% |
| Mar 31, 2024 | 83.89% |
| Dec 31, 2023 | 90.69% |
| Sep 30, 2023 | 88.79% |
| Jun 30, 2023 | 90.85% |
| Mar 31, 2023 | 87.80% |
| Dec 31, 2022 | 94.85% |
| Sep 30, 2022 | 90.48% |
| Jun 30, 2022 | 90.74% |
| Mar 31, 2022 | 92.37% |
| Dec 31, 2021 | 95.79% |
| Sep 30, 2021 | 94.89% |