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 (WULF) has 17 years of Gross Margin data on file, last reported 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.
- The five-year high for Gross Margin was 93.06% in Q1 2026, with the low at 34.08% in Q3 2022.
- Average Gross Margin over 5 years is 54.45%, with a median of 57.33% recorded in 2022.
- Year-over-year, Gross Margin slumped 6744 bps in 2022 and surged 9046 bps in 2023.
- Terawulf's Gross Margin stood at 44.82% in 2022, then surged by 38 bps to 61.64% in 2023, then declined by 2 bps to 60.38% in 2024, then decreased by 7 bps to 56.1% in 2025, then soared by 66 bps to 93.06% in 2026.
- Business Quant data shows WULF's Gross Margin at 93.06% in Q1 2026, 56.1% in Q4 2025, and 66.15% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 330.70 Bn | 197.17 Bn | - | - |
| 2 | Goldman Sachs | 309.79 Bn | -627.76 Bn | - | - |
| 3 | Schwab Charles | 167.21 Bn | 122.24 Bn | - | - |
| 4 | Futu Holdings | 111.36 Bn | 109.19 Bn | 733.58 Mn | 206.12% |
| 5 | Robinhood Markets | 97.69 Bn | 93.05 Bn | 960.00 Mn | 89.97% |
| 6 | LPL Financial Holdings | 23.49 Bn | 22.47 Bn | - | - |
| 7 | Tradeweb Markets | 21.59 Bn | 20.34 Bn | - | - |
| 8 | Circle Internet | 15.14 Bn | 13.62 Bn | 35.01 Mn | 84.10% |
| 9 | Iren | 14.46 Bn | 12.24 Bn | 144.76 Mn | 99.97% |
| 10 | Terawulf | 9.97 Bn | 7.15 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% |