Tuya (TUYA) Gross Margin (2020 - 2026)
Tuya (TUYA) posted Gross Margin of 46.86% for Q1 2026, down 1.63% on a QoQ basis from 47.63% in Q4 2025, and down 168.0% year-over-year from 68.91% in Q1 2025.
Tuya (TUYA) Gross Margin (2020 - 2026) Analysis & Trends
Tuya's Gross Margin history runs 7 years deep, the most recent figure standing at 46.86% for Q1 2026.
- Quarterly Gross Margin fell 168.0% year-over-year to 46.86% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 47.81% (up 25.0% YoY) and the FY2025 annual result came in at 48.18%, up 82.0% from the prior year.
- Gross Margin was 46.86% for Q1 2026 at Tuya, down from 47.63% in the prior quarter.
- Across five years, Gross Margin topped out at 48.54% in Q1 2025 and bottomed at 41.25% in Q1 2022.
- A 5-year average of 46.14% and a median of 46.8% in 2023 frame the typical range for Gross Margin.
- Annual changes were most pronounced in 2023 — Gross Margin soared 394 bps — and 2026, when it slumped 168 bps.
- Tuya's Gross Margin stood at 44.57% in 2022, then gained by 6 bps to 47.29% in 2023, then advanced by 1 bps to 47.82% in 2024, then slipped by 0 bps to 47.63% in 2025, then fell by 2 bps to 46.86% in 2026.
- Business Quant data shows TUYA's Gross Margin at 46.86% in Q1 2026, 47.63% in Q4 2025, and 48.25% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,842.90 Bn | 2,718.46 Bn | 56.06 Bn | 67.63% |
| 2 | PagSeguro Digital | 2,572.26 Bn | 2,572.26 Bn | 358.92 Mn | 37.73% |
| 3 | Oracle | 329.59 Bn | 297.69 Bn | - | - |
| 4 | Repay Holdings | 314.63 Bn | 314.48 Bn | - | - |
| 5 | Palantir Technologies | 294.47 Bn | 286.44 Bn | 1.42 Bn | 86.78% |
| 6 | Palo Alto Networks | 227.51 Bn | 222.98 Bn | 1.91 Bn | 73.59% |
| 7 | CrowdStrike Holdings | 183.28 Bn | 180.18 Bn | 993.68 Mn | 76.12% |
| 8 | Fortinet | 112.44 Bn | 109.14 Bn | 1.49 Bn | 80.29% |
| 9 | Cloudflare | 92.78 Bn | 91.83 Bn | 455.60 Mn | 71.21% |
| 10 | Tuya | 1.01 Bn | -950.14 Bn | 37.90 Mn | 46.86% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 46.86% |
| Dec 31, 2025 | 47.63% |
| Sep 30, 2025 | 48.25% |
| Mar 31, 2025 | 48.54% |
| Dec 31, 2024 | 47.82% |
| Sep 30, 2024 | 45.96% |
| Jun 30, 2024 | 48.02% |
| Mar 31, 2024 | 47.82% |
| Dec 31, 2023 | 47.29% |
| Sep 30, 2023 | 46.69% |
| Jun 30, 2023 | 46.74% |
| Mar 31, 2023 | 44.28% |
| Dec 31, 2022 | 44.57% |
| Sep 30, 2022 | 43.65% |
| Jun 30, 2022 | 42.80% |
| Mar 31, 2022 | 41.25% |
| Dec 31, 2021 | 43.15% |
| Sep 30, 2021 | 42.57% |
| Jun 30, 2021 | 42.17% |
| Mar 31, 2021 | 41.12% |