Innovate (VATE) Gross Margin (2010 - 2025)
Innovate (VATE) recorded quarterly Gross Margin of 15.39% in Q4 2025, up 7.49% quarter-over-quarter from 14.32% in Q3 2025, and down 422.0% on a YoY basis from 4.78% in Q4 2024.
Innovate (VATE) Gross Margin (2010 - 2025) Analysis & Trends
Innovate's Gross Margin history runs 16 years deep, the most recent figure standing at 15.39% for Q4 2025.
- In Q4 2025, Gross Margin fell 422.0% year-over-year to 15.39%; the TTM figure through Dec 2025 stood at 16.03% (down 283.0% YoY), while the FY2025 annual figure was 16.03%, down 283.0% from the prior year.
- Gross Margin was 15.39% for Q4 2025 at Innovate, up from 14.32% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 20.95% in Q2 2024 to a low of 12.06% in Q1 2022.
- Historically, Gross Margin has averaged 15.9% across 5 years, with a median of 15.4% in 2024.
- The sharpest annual moves came in 2022 and 2024: Gross Margin slumped 569 bps in 2022, then soared 669 bps in 2024.
- A 5-year view of Gross Margin shows it stood at 15.63% in 2021, then decreased by 2 bps to 15.37% in 2022, then climbed by 10 bps to 16.93% in 2023, then advanced by 16 bps to 19.61% in 2024, then retreated by 22 bps to 15.39% in 2025.
- The last three Gross Margin figures came in at 15.39% (Q4 2025), 14.32% (Q3 2025), and 18.84% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Quanta Services | 103.56 Bn | 103.29 Bn | 1.11 Bn | 14.06% |
| 2 | Comfort Systems Usa | 64.33 Bn | 63.28 Bn | 754.41 Mn | 26.33% |
| 3 | Emcor | 36.81 Bn | 35.90 Bn | 863.95 Mn | 18.67% |
| 4 | Mastec | 27.54 Bn | 27.38 Bn | 477.90 Mn | 12.48% |
| 5 | Sterling Infrastructure | 25.78 Bn | 25.28 Bn | 194.30 Mn | 23.53% |
| 6 | APi | 18.83 Bn | 18.18 Bn | 620.00 Mn | 31.28% |
| 7 | Jacobs Solutions | 14.81 Bn | 13.43 Bn | 794.89 Mn | 21.51% |
| 8 | IES Holdings | 14.35 Bn | 14.09 Bn | 254.79 Mn | 26.15% |
| 9 | Dycom Industries | 13.61 Bn | 12.90 Bn | - | - |
| 10 | Innovate | 231.31 Mn | 133.11 Mn | 58.90 Mn | 15.39% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 15.39% |
| Sep 30, 2025 | 14.32% |
| Jun 30, 2025 | 18.84% |
| Mar 31, 2025 | 16.59% |
| Dec 31, 2024 | 19.61% |
| Sep 30, 2024 | 19.90% |
| Jun 30, 2024 | 20.95% |
| Mar 31, 2024 | 15.42% |
| Dec 31, 2023 | 16.93% |
| Sep 30, 2023 | 15.64% |
| Jun 30, 2023 | 14.26% |
| Mar 31, 2023 | 13.72% |
| Dec 31, 2022 | 15.37% |
| Sep 30, 2022 | 13.81% |
| Jun 30, 2022 | 12.83% |
| Mar 31, 2022 | 12.06% |
| Dec 31, 2021 | 15.63% |
| Sep 30, 2021 | 13.96% |
| Jun 30, 2021 | 14.93% |
| Mar 31, 2021 | 17.75% |