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HubSpot HUBS Gross margin

Gross margin at other companies

Microsoft logo
MicrosoftMSFT
68.3%-0.8pp
Adobe logo
AdobeADBE
89.4%+0.2pp
Salesforce logo
SalesforceCRM
77.6%+0.3pp
Manhattan Associates logo
Manhattan AssociatesMANH
56%+0.4pp
Accenture logo
AccentureACN
32%-0.1pp
International Business Machines logo
International Business MachinesIBM
58.4%+1.3pp

Other financials

Income statement

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Revenue$881.0M+23.4%
Gross profit$735.3M+22.7%
Operating income$27.9M+202%
Net income$32.6M+249%
EPS (diluted)$0.62+248%

Balance sheet

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Cash & equivalents$943.9M+51.0%
Total debt$247.3M-13.6%
Total equity$2.0B-0.4%
Total assets$3.8B-1.7%

Cash flow

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Operating cash flow$198.8M+23.1%
CapEx$15.4M+15.6%
Free cash flow$183.4M+23.7%

Valuation

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Market cap$9.01B-56.8%
Enterprise value$8.31B-58.7%
P/E89.9×
P/S2.7×-4.9×

Profitability

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Operating margin1.9%+1.2pp
Net margin3%+2.5pp
FCF margin22.5%+0.9pp

Returns & leverage

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Return on equity5%+4.1pp
Debt / equity0.1×0.0×
Current ratio1.6×0.0×

Where this comes from

Calculated from HubSpot’s reported figures.

Based on trailing twelve months.

The official record: HubSpot’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is HubSpot's gross margin?
HubSpot (HUBS) reported gross margin of 83.7% in Q1 2026.
How has HubSpot's gross margin changed year-over-year?
HubSpot's gross margin decreased by 1.4% year-over-year, from 84.8% to 83.7%.
What is the long-term trend for HubSpot's gross margin?
Over 5 years (2020 to 2025), HubSpot's gross margin has grown at a 0.6% compound annual growth rate (CAGR), from 81.1% to 83.8%.
What does gross margin mean?
How much of every sales dollar is left after the direct cost of what was sold.
How do you interpret gross margin?
Higher and stable gross margins indicate pricing power and a durable cost structure. A declining trend signals input-cost pressure, pricing competition, or a shift toward lower-margin products.
How does gross margin compare across companies?
Highly comparable within an industry, less so across industries — software runs 70%+ while distributors run in single digits. Track the trend more than the absolute level across sectors.