Vanda Pharmaceuticals (VNDA) Gross Margin (2010 - 2026)
Vanda Pharmaceuticals (VNDA) posted Gross Margin of 93.89% for Q1 2026, up 0.63% sequentially from 93.3% in Q4 2025, and up 93.0% YoY from 48.65% in Q1 2025.
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Vanda Pharmaceuticals (VNDA) Gross Margin (2010 - 2026) Analysis & Trends
Vanda Pharmaceuticals has reported Gross Margin for 14 years, with the latest figure at 93.89% in Q1 2026.
- Quarterly Gross Margin rose 93.0% year-over-year to 93.89% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 94.18% (down 16.0% YoY) and the FY2025 annual result came in at 93.96%, down 34.0% from the prior year.
- Gross Margin rose to 93.89% in Q1 2026 per VNDA's latest filing, from 93.3% in the prior quarter.
- Over five years, Gross Margin peaked at 95.13% in Q4 2024 and troughed at 90.32% in Q3 2022.
- A 5-year average of 92.82% and a median of 92.75% in 2024 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2024 and 2025: Gross Margin jumped 277 bps in 2024, then plunged 183 bps in 2025.
- Over 5 years, Gross Margin stood at 90.33% in 2022, then gained by 2 bps to 92.36% in 2023, then climbed by 3 bps to 95.13% in 2024, then slipped by 2 bps to 93.3% in 2025, then increased by 1 bps to 93.89% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 93.89%, 93.3%, and 94.75% for Q1 2026, Q4 2025, and Q3 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 138.47 Bn | 130.62 Bn | 2.84 Bn | 85.33% |
| 2 | Regeneron Pharmaceuticals | 85.18 Bn | 77.19 Bn | 3.93 Bn | 91.59% |
| 3 | Argenx Se | 63.38 Bn | 58.19 Bn | 1.37 Bn | 90.43% |
| 4 | Moderna | 58.09 Bn | 52.95 Bn | 52.00 Mn | 35.86% |
| 5 | Revolution Medicines | 44.33 Bn | 44.33 Bn | - | - |
| 6 | BeOne Medicines | 40.02 Bn | 34.92 Bn | 1.53 Bn | 89.76% |
| 7 | Alnylam Pharmaceuticals | 35.57 Bn | 32.27 Bn | 992.69 Mn | 76.90% |
| 8 | Royalty Pharma | 28.45 Bn | 27.61 Bn | - | - |
| 9 | Insmed | 27.48 Bn | 26.32 Bn | 358.27 Mn | 84.20% |
| 10 | Vanda Pharmaceuticals | 327.03 Mn | 157.00 Mn | 46.97 Mn | 92.95% |
Historic Data
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Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 92.95% |
| Mar 31, 2026 | 93.89% |
| Dec 31, 2025 | 93.30% |
| Sep 30, 2025 | 94.75% |
| Jun 30, 2025 | 94.80% |
| Mar 31, 2025 | 92.96% |
| Dec 31, 2024 | 95.13% |
| Sep 30, 2024 | 94.65% |
| Jun 30, 2024 | 94.59% |
| Mar 31, 2024 | 92.75% |
| Dec 31, 2023 | 92.36% |
| Sep 30, 2023 | 92.11% |
| Jun 30, 2023 | 92.40% |
| Mar 31, 2023 | 92.36% |
| Dec 31, 2022 | 90.33% |
| Sep 30, 2022 | 90.32% |
| Jun 30, 2022 | 90.59% |
| Mar 31, 2022 | 90.59% |
| Dec 31, 2021 | 90.83% |
| Sep 30, 2021 | 90.30% |