Terawulf (WULF) Gross Margin (2010 - 2026)
Terawulf (WULF) posted Gross Margin of 93.06% for Q1 2026, up 65.87% sequentially from 56.1% in Q4 2025, and up 6442.0% YoY from 1.42% in Q1 2025.
Terawulf (WULF) Gross Margin (2010 - 2026) Analysis & Trends
Terawulf has reported Gross Margin for 17 years, with the latest figure at 93.06% in Q1 2026.
- Quarterly Gross Margin rose 6442.0% year-over-year to 93.06% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 65.5% (up 1514.0% YoY) and the FY2025 annual result came in at 50.93%, down 437.0% from the prior year.
- Gross Margin climbed to 93.06% in Q1 2026 per WULF's latest filing, from 56.1% in the prior quarter.
- Over five years, Gross Margin peaked at 93.06% in Q1 2026 and troughed at 34.08% in Q3 2022.
- A 5-year average of 54.45% and a median of 57.33% in 2022 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2022 and 2023: Gross Margin plunged 6744 bps in 2022, then soared 9046 bps in 2023.
- Over 5 years, Gross Margin stood at 44.82% in 2022, then jumped by 38 bps to 61.64% in 2023, then dropped by 2 bps to 60.38% in 2024, then retreated by 7 bps to 56.1% in 2025, then surged by 66 bps to 93.06% in 2026.
- According to Business Quant data, Gross Margin over the past three periods registered 93.06%, 56.1%, and 66.15% for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 338.83 Bn | 205.30 Bn | - | - |
| 2 | Goldman Sachs | 316.34 Bn | -660.01 Bn | - | - |
| 3 | Schwab Charles | 220.55 Bn | 135.80 Bn | - | - |
| 4 | Futu Holdings | 121.48 Bn | 105.59 Bn | 733.58 Mn | 206.12% |
| 5 | Robinhood Markets | 84.07 Bn | 66.74 Bn | 1.20 Bn | 92.05% |
| 6 | Iren | 68.17 Bn | 65.95 Bn | 104.86 Mn | 72.42% |
| 7 | ATIF Holdings | 45.42 Bn | 45.42 Bn | - | - |
| 8 | Interactive Brokers | 39.54 Bn | -3.28 Bn | - | - |
| 9 | LPL Financial Holdings | 28.27 Bn | 25.57 Bn | - | - |
| 10 | Terawulf | 8.49 Bn | 5.66 Bn | 31.65 Mn | 93.06% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 93.06% |
| Dec 31, 2025 | 56.10% |
| Sep 30, 2025 | 66.15% |
| Jun 30, 2025 | 53.62% |
| Mar 31, 2025 | 28.64% |
| Dec 31, 2024 | 60.38% |
| Sep 30, 2024 | 45.82% |
| Jun 30, 2024 | 60.88% |
| Mar 31, 2024 | 66.05% |
| Dec 31, 2023 | 61.64% |
| Sep 30, 2023 | 56.38% |
| Jun 30, 2023 | 66.92% |
| Mar 31, 2023 | 56.63% |
| Dec 31, 2022 | 44.82% |
| Sep 30, 2022 | -34.08% |
| Jun 30, 2022 | 57.33% |
| Mar 31, 2022 | 85.25% |
| Sep 30, 2021 | 33.35% |
| Jun 30, 2021 | 33.62% |
| Mar 31, 2021 | 32.42% |