Waterdrop (WDH) Gross Margin (2020 - 2026)
Waterdrop (WDH) posted quarterly Gross Margin of 60.56% for Q1 2026, up 1021.0% year-over-year from 5.4% in Q1 2025, and up 16.45% quarter-over-quarter from 52.0% in Q4 2025.
Waterdrop (WDH) Gross Margin (2020 - 2026) Analysis & Trends
Waterdrop's Gross Margin history runs 7 years deep, the most recent figure standing at 60.56% for Q1 2026.
- In Q1 2026, Gross Margin rose 1021.0% year-over-year to 60.56%; the TTM figure through Mar 2026 stood at 53.95% (up 204.0% YoY), while the FY2025 annual figure was 50.43%, down 214.0% from the prior year.
- Gross Margin for Q1 2026 stood at 60.56%, up from 52.0% in the prior quarter.
- The five-year high for Gross Margin was 76.12% in Q1 2022, with the low at 50.3% in Q2 2025.
- The 5-year median for Gross Margin is 53.01% (2024), against an average of 55.97%.
- The sharpest annual moves came in 2023 and 2026: Gross Margin sank 1703 bps in 2023, then jumped 1021 bps in 2026.
- Waterdrop's Gross Margin stood at 59.0% in 2022, then slipped by 8 bps to 54.18% in 2023, then fell by 2 bps to 52.85% in 2024, then slipped by 2 bps to 52.0% in 2025, then increased by 16 bps to 60.56% in 2026.
- Business Quant data shows WDH's Gross Margin at 60.56% in Q1 2026, 52.0% in Q4 2025, and 51.26% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Berkshire Hathaway | 1,070.84 Bn | 743.86 Bn | 55.86 Bn | 54.87% |
| 2 | Sun Life Financial | 43.38 Bn | 32.15 Bn | - | - |
| 3 | American International | 40.15 Bn | 2.33 Bn | 3.50 Bn | 49.41% |
| 4 | Hartford Insurance | 37.52 Bn | 21.20 Bn | 3.18 Bn | 43.81% |
| 5 | Arch Capital | 34.10 Bn | 32.99 Bn | 2.47 Bn | 52.96% |
| 6 | Aegon | 28.26 Bn | 28.26 Bn | - | - |
| 7 | Pelagos Insurance Capital | 2.02 Bn | 1.57 Bn | 357.40 Mn | 54.98% |
| 8 | Exzeo | 1.42 Bn | 1.29 Bn | 36.84 Mn | 63.75% |
| 9 | International General Insurance Holdings | 1.14 Bn | 901.84 Mn | -5.60 Mn | -32.00% |
| 10 | Waterdrop | 359.74 Mn | 230.42 Mn | 109.06 Mn | 60.56% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 60.56% |
| Dec 31, 2025 | 52.00% |
| Sep 30, 2025 | 51.26% |
| Jun 30, 2025 | 50.30% |
| Mar 31, 2025 | 50.35% |
| Dec 31, 2024 | 52.85% |
| Sep 30, 2024 | 51.63% |
| Jun 30, 2024 | 53.01% |
| Mar 31, 2024 | 52.99% |
| Dec 31, 2023 | 54.18% |
| Sep 30, 2023 | 54.51% |
| Jun 30, 2023 | 52.71% |
| Mar 31, 2023 | 59.09% |
| Dec 31, 2022 | 59.00% |
| Sep 30, 2022 | 55.80% |
| Jun 30, 2022 | 65.13% |
| Mar 31, 2022 | 76.12% |
| Dec 31, 2021 | 67.36% |
| Sep 30, 2021 | 61.98% |
| Jun 30, 2021 | 72.28% |