Spruce Power Holding (SPRU) Gross Margin (2020 - 2026)
Spruce Power Holding (SPRU) posted Gross Margin of 70.56% for Q4 2025, down 6.69% sequentially from 75.62% in Q3 2025, and up 116.0% YoY from 32.67% in Q4 2024.
Spruce Power Holding (SPRU) Gross Margin (2020 - 2026) Analysis & Trends
Spruce Power Holding has reported Gross Margin for 6 years, with the latest figure at 70.56% in Q4 2025.
- Quarterly Gross Margin rose 116.0% year-over-year to 70.56% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 73.92% (up 227.0% YoY) and the FY2025 annual result came in at 73.94%, up 241.0% from the prior year.
- Gross Margin fell to 70.56% in Q4 2025 per SPRU's latest filing, from 75.62% in the prior quarter.
- Over five years, Gross Margin peaked at 115.5% in Q4 2023 and troughed at 106.07% in Q1 2021.
- A 5-year average of 52.88% and a median of 65.48% in 2023 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2021 and 2023: Gross Margin sank 10185 bps in 2021, then soared 5953 bps in 2023.
- Over 5 years, Gross Margin stood at 21.56% in 2021, then jumped by 160 bps to 55.97% in 2022, then jumped by 106 bps to 115.5% in 2023, then plunged by 40 bps to 69.4% in 2024, then grew by 2 bps to 70.56% in 2025.
- According to Business Quant data, Gross Margin over the past three periods registered 70.56%, 75.62%, and 78.04% for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 23.03 Bn | 21.30 Bn | 605.00 Mn | 57.28% |
| 2 | Nextpower | 13.25 Bn | 12.03 Bn | 335.85 Mn | 35.91% |
| 3 | Enphase Energy | 5.07 Bn | 4.13 Bn | 175.01 Mn | 59.97% |
| 4 | Sunrun | 2.24 Bn | 2.24 Bn | 527.54 Mn | 60.64% |
| 5 | Solaredge Technologies | 1.89 Bn | 1.31 Bn | 95.15 Mn | 27.48% |
| 6 | Shoals Technologies | 1.24 Bn | 1.22 Bn | 49.53 Mn | 30.31% |
| 7 | Canadian Solar | 991.33 Mn | -596.96 Mn | 124.40 Mn | 10.22% |
| 8 | JinkoSolar Holding | 831.90 Mn | -2.48 Bn | 147.66 Mn | 8.32% |
| 9 | Array Technologies | 727.79 Mn | 420.48 Mn | 99.60 Mn | 29.12% |
| 10 | Spruce Power Holding | 34.82 Mn | -46.72 Mn | 23.10 Mn | 76.10% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 76.10% |
| Dec 31, 2025 | 70.56% |
| Sep 30, 2025 | 75.62% |
| Jun 30, 2025 | 78.04% |
| Mar 31, 2025 | 69.35% |
| Dec 31, 2024 | 69.40% |
| Sep 30, 2024 | 73.20% |
| Jun 30, 2024 | 74.65% |
| Mar 31, 2024 | 68.64% |
| Dec 31, 2023 | 115.50% |
| Sep 30, 2023 | 57.81% |
| Jun 30, 2023 | 62.33% |
| Mar 31, 2023 | 56.60% |
| Dec 31, 2022 | 55.97% |
| Sep 30, 2022 | 61.14% |
| Dec 31, 2021 | 21.56% |
| Sep 30, 2021 | 21.56% |
| Jun 30, 2021 | 26.04% |
| Mar 31, 2021 | -106.07% |
| Dec 31, 2020 | 18.27% |