Tuya (TUYA) Gross Margin (2020 - 2026)
Tuya's (TUYA) quarterly Gross Margin came in at 46.86% in Q1 2026, down 168.0% YoY from 68.91% in Q1 2025, and down 1.63% on a QoQ basis from 47.63% in Q4 2025.
Tuya (TUYA) Gross Margin (2020 - 2026) Analysis & Trends
Tuya (TUYA) has 7 years of Gross Margin data on file, last reported at 46.86% in 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 eased to 46.86% in Q1 2026, from 47.63% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 48.54% in Q1 2025 to a low of 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 tumbled 168 bps.
- Tracing TUYA's Gross Margin over 5 years: stood at 44.57% in 2022, then increased by 6 bps to 47.29% in 2023, then rose by 1 bps to 47.82% in 2024, then retreated by 0 bps to 47.63% in 2025, then dropped by 2 bps to 46.86% in 2026.
- The last three Gross Margin figures came in at 46.86% (Q1 2026), 47.63% (Q4 2025), and 48.25% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,679.34 Bn | 3,546.58 Bn | 60.48 Bn | 67.20% |
| 2 | Oracle | 433.50 Bn | 402.15 Bn | - | - |
| 3 | Palantir Technologies | 418.20 Bn | 408.90 Bn | 1.64 Bn | 84.66% |
| 4 | Palo Alto Networks | 312.41 Bn | 309.30 Bn | 2.03 Bn | 67.55% |
| 5 | Fortinet | 117.38 Bn | 113.31 Bn | 1.64 Bn | 80.24% |
| 6 | Cloudflare | 101.74 Bn | 97.57 Bn | 499.52 Mn | 71.76% |
| 7 | Synopsys | 80.70 Bn | 78.49 Bn | 1.77 Bn | 73.54% |
| 8 | CoreWeave | 58.00 Bn | 52.46 Bn | 1.70 Bn | 65.86% |
| 9 | Block | 49.79 Bn | 43.33 Bn | 3.17 Bn | 47.84% |
| 10 | Tuya | 2.23 Bn | -948.93 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% |