Highest Gross Margins
Pricing power, ranked — who keeps the most of every sales dollar
Updated June 18, 2026
Gross margin is the first and cleanest read on pricing power: of every dollar a company sells, how much is left after the direct cost of making the thing it sold. A high gross margin means the market lets the company charge far more than its product costs to produce — the hallmark of software, premium brands, and franchises with a genuine moat.
It’s where durable profitability starts. A fat gross margin leaves room to fund R&D, marketing, and still drop money to the bottom line; a thin one means every other cost has to be squeezed just to break even. These are the S&P 500 names that start each sale with the most room to spare.
| # | Stock | Gross margin | Gross profit (TTM) | Revenue (TTM) |
|---|---|---|---|---|
| 1 | TPLTexas Pacific Land CorporationOil & Gas Exploration & Production | 98% | $820M | $839M |
| Oil & Gas Exploration & Production — keeps 98% of every sales dollar ($820M of gross profit on $839M in revenue). | ||||
| 2 | INCYIncyte CorporationBiotechnology | 92% | $5.0B | $5.4B |
| Biotechnology — keeps 92% of every sales dollar ($5.0B of gross profit on $5.4B in revenue). | ||||
| 3 | ADSKAutodesk, Inc.Software - Application | 91% | $6.6B | $7.2B |
| Software - Application — keeps 91% of every sales dollar ($6.6B of gross profit on $7.2B in revenue). | ||||
| 4 | EXPEExpedia Group, Inc.Travel Services | 90% | $13.7B | $15.2B |
| Travel Services — keeps 90% of every sales dollar ($13.7B of gross profit on $15.2B in revenue). | ||||
| 5 | ADBEAdobe Inc.Software - Application | 89% | $21.8B | $24.5B |
| Software - Application — keeps 89% of every sales dollar ($21.8B of gross profit on $24.5B in revenue). | ||||
| 6 | CDNSCadence Design Systems, Inc.Software - Application | 89% | $4.9B | $5.5B |
| Software - Application — keeps 89% of every sales dollar ($4.9B of gross profit on $5.5B in revenue). | ||||
| 7 | APPAppLovin CorporationSoftware - Application | 88% | $5.4B | $6.2B |
| Software - Application — keeps 88% of every sales dollar ($5.4B of gross profit on $6.2B in revenue). | ||||
| 8 | VRSNVeriSign, Inc.Software - Infrastructure | 88% | $1.5B | $1.7B |
| Software - Infrastructure — keeps 88% of every sales dollar ($1.5B of gross profit on $1.7B in revenue). | ||||
| 9 | VRTXVertex Pharmaceuticals IncorporatedBiotechnology | 86% | $10.6B | $12.3B |
| Biotechnology — keeps 86% of every sales dollar ($10.6B of gross profit on $12.3B in revenue). | ||||
| 10 | REGNRegeneron Pharmaceuticals, Inc.Biotechnology | 85% | $12.6B | $14.9B |
| Biotechnology — keeps 85% of every sales dollar ($12.6B of gross profit on $14.9B in revenue). | ||||
| 11 | PTCPTC Inc.Software - Application | 84% | $2.5B | $3.0B |
| Software - Application — keeps 84% of every sales dollar ($2.5B of gross profit on $3.0B in revenue). | ||||
| 12 | FICOFair Isaac CorporationSoftware - Application | 84% | $1.9B | $2.3B |
| Software - Application — keeps 84% of every sales dollar ($1.9B of gross profit on $2.3B in revenue). | ||||
| 13 | PLTRPalantir Technologies Inc.Software - Infrastructure | 84% | $4.4B | $5.2B |
| Software - Infrastructure — keeps 84% of every sales dollar ($4.4B of gross profit on $5.2B in revenue). | ||||
| 14 | LLYEli Lilly and CompanyDrug Manufacturers - General | 84% | $60.3B | $72.2B |
| Drug Manufacturers - General — keeps 84% of every sales dollar ($60.3B of gross profit on $72.2B in revenue). | ||||
| 15 | ABNBAirbnb, Inc.Travel Services | 83% | $10.5B | $12.6B |
| Travel Services — keeps 83% of every sales dollar ($10.5B of gross profit on $12.6B in revenue). | ||||
| 16 | METAMeta Platforms, Inc.Internet Content & Information | 82% | $176.1B | $215.0B |
| Internet Content & Information — keeps 82% of every sales dollar ($176.1B of gross profit on $215.0B in revenue). | ||||
| 17 | FFIVF5, Inc.Software - Infrastructure | 82% | $2.6B | $3.2B |
| Software - Infrastructure — keeps 82% of every sales dollar ($2.6B of gross profit on $3.2B in revenue). | ||||
| 18 | INTUIntuit Inc.Software - Application | 81% | $17.0B | $20.9B |
| Software - Application — keeps 81% of every sales dollar ($17.0B of gross profit on $20.9B in revenue). | ||||
| 19 | FTNTFortinet, Inc.Software - Infrastructure | 81% | $5.7B | $7.1B |
| Software - Infrastructure — keeps 81% of every sales dollar ($5.7B of gross profit on $7.1B in revenue). | ||||
| 20 | DDOGDatadog, Inc.Software - Application | 80% | $2.9B | $3.7B |
| Software - Application — keeps 80% of every sales dollar ($2.9B of gross profit on $3.7B in revenue). | ||||
| 21 | TAT&T Inc.Telecommunications Services | 80% | $100.8B | $126.5B |
| Telecommunications Services — keeps 80% of every sales dollar ($100.8B of gross profit on $126.5B in revenue). | ||||
| 22 | PEGPublic Service Enterprise Group IncorporatedRegulated Electric | 80% | $10.2B | $12.8B |
| Regulated Electric — keeps 80% of every sales dollar ($10.2B of gross profit on $12.8B in revenue). | ||||
| 23 | GILDGilead Sciences, Inc.Drug Manufacturers - General | 79% | $23.6B | $29.7B |
| Drug Manufacturers - General — keeps 79% of every sales dollar ($23.6B of gross profit on $29.7B in revenue). | ||||
| 24 | EAElectronic Arts Inc.Electronic Gaming & Multimedia | 79% | $5.9B | $7.5B |
| Electronic Gaming & Multimedia — keeps 79% of every sales dollar ($5.9B of gross profit on $7.5B in revenue). | ||||
| 25 | EWEdwards Lifesciences CorporationMedical - Devices | 78% | $4.9B | $6.3B |
| Medical - Devices — keeps 78% of every sales dollar ($4.9B of gross profit on $6.3B in revenue). | ||||