Tuya (TUYA) Gross Margin (2020 - 2026)
Tuya (TUYA) posted Gross Margin of 46.32% for Q2 2026, down 2.03 percentage points from 48.35% a year earlier and down 0.54 percentage points from the prior quarter.
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Analysis
Tuya (TUYA) Gross Margin (2020 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Gross Margin at Tuya was 47.24%, down 0.41 percentage points year-over-year; for FY2025, it came in at 48.18%, up 0.82 percentage points from FY2024.
- Annual Gross Margin has increased for six consecutive years, with a five-year change of +13.75 percentage points (FY2020 to FY2025).
- In prior years, Tuya's Gross Margin was 47.36% in FY2024 (+0.99 pp), 46.37% in FY2023 (+3.42 pp), 42.96% in FY2022 (+0.63 pp) and 42.33% in FY2021 (+7.90 pp).
- The Q2 2026 figure stands as the lowest quarterly Gross Margin since Q3 2024.
- On a year-over-year basis, Gross Margin has declined in each of the last three quarters, with an average year-over-year change of -0.10 percentage points over the last eight quarters.
- The strongest year-over-year quarter for Gross Margin in the past five years was Q3 2021, with a gain of 8.16 percentage points; the weakest was Q2 2026, with a drop of 2.03 percentage points.
- According to Business Quant data, Gross Margin for the three prior quarters was 46.86% (Q1 2026), 47.63% (Q4 2025) and 48.25% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,781.98 Bn | 3,705.13 Bn | 60.48 Bn | 67.20% |
| 2 | International Business Machines | 207.92 Bn | 158.82 Bn | 9.91 Bn | 57.73% |
| 3 | Cloudflare | 114.07 Bn | 97.60 Bn | 499.52 Mn | 71.76% |
| 4 | Equinix | 99.76 Bn | 88.32 Bn | 1.40 Bn | 53.14% |
| 5 | Nebius | 58.67 Bn | 32.10 Bn | 448.70 Mn | 77.06% |
| 6 | CoreWeave | 46.87 Bn | 33.97 Bn | 1.70 Bn | 65.86% |
| 7 | Verisign | 25.50 Bn | 22.71 Bn | 384.60 Mn | 88.50% |
| 8 | Nutanix | 18.59 Bn | 10.27 Bn | 651.35 Mn | 86.03% |
| 9 | Akamai Technologies | 15.65 Bn | 9.06 Bn | 613.75 Mn | 55.81% |
| 10 | Tuya | 1.05 Bn | -2.80 Bn | 43.05 Mn | 46.32% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 46.32% |
| Mar 31, 2026 | 46.86% |
| Dec 31, 2025 | 47.63% |
| Sep 30, 2025 | 48.25% |
| Jun 30, 2025 | 48.35% |
| 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% |
API Access
Tuya 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=TUYA&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "gross-margin", "ticker": "TUYA", "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=TUYA&period=max&api_key=YOUR_API_KEY");
const data = await res.json();