Spruce Power Holding (SPRU) Gross Margin (2020 - 2025)
Spruce Power Holding recorded quarterly Gross Margin of 70.56% in Q4 2025, down 6.69% quarter-over-quarter from 75.62% in Q3 2025, and up 116.0% year-over-year from 32.67% in Q4 2024.
Spruce Power Holding's Gross Margin history runs 6 years deep, the most recent figure standing at 70.56% for Q4 2025.
- In Q4 2025, Gross Margin rose 116.0% year-over-year to 70.56%; the TTM figure through Dec 2025 stood at 78.55% (up 370.0% YoY), while the FY2025 annual figure was 73.94%, up 241.0% from the prior year.
- Gross Margin came in at 70.56% for Q4 2025 at Spruce Power Holding, down from 75.62% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 115.5% in Q4 2023 to a low of 106.07% in Q1 2021.
- A 5-year average of 54.55% and a median of 65.86% in 2023 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin plunged 10185 bps in 2021 and surged 5953 bps in 2023, its largest moves.
- Spruce Power Holding's Gross Margin stood at 21.56% in 2021, then soared by 160 bps to 55.97% in 2022, then soared by 106 bps to 115.5% in 2023, then tumbled by 40 bps to 69.4% in 2024, then climbed 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 93.57% for Q4 2025, Q3 2025, and Q2 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | First Solar | 26.65 Bn | 24.22 Bn | 486.13 Mn | 46.55% |
| 2 | Nextpower | 17.99 Bn | 16.90 Bn | 297.38 Mn | 33.77% |
| 3 | Canadian Solar | 15.11 Bn | 15.69 Bn | 124.40 Mn | 10.22% |
| 4 | Enphase Energy | 8.19 Bn | 7.26 Bn | 100.39 Mn | 35.49% |
| 5 | Solaredge Technologies | 3.80 Bn | 3.25 Bn | 68.28 Mn | 21.99% |
| 6 | Sunrun | 3.38 Bn | 4.27 Bn | 543.70 Mn | 75.28% |
| 7 | Shoals Technologies | 1.60 Bn | 1.60 Bn | 41.01 Mn | 29.18% |
| 8 | Array Technologies | 1.25 Bn | 1.05 Bn | 63.00 Mn | 28.20% |
| 9 | JinkoSolar Holding | 677.44 Mn | 2.29 Bn | 147.66 Mn | 8.32% |
| 10 | Spruce Power Holding | 54.20 Mn | -36.52 Mn | 16.96 Mn | 70.56% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 70.56% |
| Sep 30, 2025 | 75.62% |
| Jun 30, 2025 | 93.57% |
| Mar 31, 2025 | 69.41% |
| Dec 31, 2024 | 69.40% |
| Sep 30, 2024 | 73.20% |
| Jun 30, 2024 | 74.80% |
| Mar 31, 2024 | 82.87% |
| 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% |
| Sep 30, 2020 | 12.12% |
| Jun 30, 2020 | 2.30% |
| Mar 31, 2020 | -4.22% |