Highest Gross Margins
Pricing power, ranked — who keeps the most of every sales dollar
Updated October 11, 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 | INCYIncyte CorporationBiotechnology | 93% | $5.4B | $5.8B |
| Biotechnology — keeps 93% of every sales dollar ($5.4B of gross profit on $5.8B in revenue). | ||||
| 2 | ADSKAutodesk, Inc.Software - Application | 91% | $7.1B | $7.8B |
| Software - Application — keeps 91% of every sales dollar ($7.1B of gross profit on $7.8B in revenue). | ||||
| 3 | EXPEExpedia Group, Inc.Travel Services | 90% | $14.2B | $15.7B |
| Travel Services — keeps 90% of every sales dollar ($14.2B of gross profit on $15.7B in revenue). | ||||
| 4 | ADBEAdobe Inc.Software - Application | 89% | $23.1B | $26.0B |
| Software - Application — keeps 89% of every sales dollar ($23.1B of gross profit on $26.0B in revenue). | ||||
| 5 | CDNSCadence Design Systems, Inc.Software - Application | 89% | $5.2B | $5.8B |
| Software - Application — keeps 89% of every sales dollar ($5.2B of gross profit on $5.8B in revenue). | ||||
| 6 | 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). | ||||
| 7 | APPAppLovin CorporationSoftware - Application | 88% | $6.0B | $6.8B |
| Software - Application — keeps 88% of every sales dollar ($6.0B of gross profit on $6.8B in revenue). | ||||
| 8 | VRTXVertex Pharmaceuticals IncorporatedBiotechnology | 86% | $10.9B | $12.6B |
| Biotechnology — keeps 86% of every sales dollar ($10.9B of gross profit on $12.6B in revenue). | ||||
| 9 | PEGPublic Service Enterprise Group IncorporatedRegulated Electric | 85% | $10.7B | $12.5B |
| Regulated Electric — keeps 85% of every sales dollar ($10.7B of gross profit on $12.5B in revenue). | ||||
| 10 | FICOFair Isaac CorporationSoftware - Application | 85% | $2.0B | $2.4B |
| Software - Application — keeps 85% of every sales dollar ($2.0B of gross profit on $2.4B in revenue). | ||||
| 11 | REGNRegeneron Pharmaceuticals, Inc.Biotechnology | 85% | $13.2B | $15.5B |
| Biotechnology — keeps 85% of every sales dollar ($13.2B of gross profit on $15.5B in revenue). | ||||
| 12 | PLTRPalantir Technologies Inc.Software - Infrastructure | 85% | $5.2B | $6.2B |
| Software - Infrastructure — keeps 85% of every sales dollar ($5.2B of gross profit on $6.2B in revenue). | ||||
| 13 | 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). | ||||
| 14 | LLYEli Lilly and CompanyDrug Manufacturers - General | 83% | $66.4B | $79.7B |
| Drug Manufacturers - General — keeps 83% of every sales dollar ($66.4B of gross profit on $79.7B in revenue). | ||||
| 15 | TTDThe Trade Desk, Inc.Advertising Agencies | 83% | $2.5B | $3.0B |
| Advertising Agencies — keeps 83% of every sales dollar ($2.5B of gross profit on $3.0B in revenue). | ||||
| 16 | FFIVF5, Inc.Software - Infrastructure | 82% | $2.7B | $3.3B |
| Software - Infrastructure — keeps 82% of every sales dollar ($2.7B of gross profit on $3.3B in revenue). | ||||
| 17 | METAMeta Platforms, Inc.Internet Content & Information | 82% | $186.6B | $228.2B |
| Internet Content & Information — keeps 82% of every sales dollar ($186.6B of gross profit on $228.2B in revenue). | ||||
| 18 | INTUIntuit Inc.Software - Application | 81% | $17.4B | $21.4B |
| Software - Application — keeps 81% of every sales dollar ($17.4B of gross profit on $21.4B in revenue). | ||||
| 19 | MUMicron Technology, Inc.Semiconductors | 81% | $107.5B | $133.2B |
| Semiconductors — keeps 81% of every sales dollar ($107.5B of gross profit on $133.2B in revenue). | ||||
| 20 | FTNTFortinet, Inc.Software - Infrastructure | 80% | $6.1B | $7.5B |
| Software - Infrastructure — keeps 80% of every sales dollar ($6.1B of gross profit on $7.5B in revenue). | ||||
| 21 | EAElectronic Arts Inc.Electronic Gaming & Multimedia | 80% | $6.3B | $7.8B |
| Electronic Gaming & Multimedia — keeps 80% of every sales dollar ($6.3B of gross profit on $7.8B in revenue). | ||||
| 22 | WDAYWorkday, Inc.Software - Application | 80% | $8.1B | $10.2B |
| Software - Application — keeps 80% of every sales dollar ($8.1B of gross profit on $10.2B in revenue). | ||||
| 23 | GILDGilead Sciences, Inc.Drug Manufacturers - General | 80% | $24.2B | $30.5B |
| Drug Manufacturers - General — keeps 80% of every sales dollar ($24.2B of gross profit on $30.5B in revenue). | ||||
| 24 | DDOGDatadog, Inc.Software - Application | 80% | $3.2B | $4.0B |
| Software - Application — keeps 80% of every sales dollar ($3.2B of gross profit on $4.0B 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). | ||||