Top Industrials Stocks by Gross Margin
Top industrials companies ranked by gross margin, latest annual filings.
What Gross Margin Means for Industrials Companies
Gross margin in industrials captures what is left of revenue after raw materials, component costs, factory labor, and direct manufacturing overhead are paid. The typical industrial carries a materially heavier cost of goods than a software or services firm because every unit shipped consumes physical inputs. Aerospace and defense contractors tend to sit at the richer end of the sector thanks to long-cycle program economics, while short-cycle distributors and commodity-exposed machinery makers sit lower.
Why It Matters in Industrials
Industrial gross margin is heavily tied to volume leverage and input costs: fixed manufacturing overhead is absorbed more efficiently when factories run full, and steel, copper, or energy input swings show up here first. A widening gross margin during a cyclical upturn is often more about operating leverage than true pricing gains. That is why margin changes need to be read against the cycle; what looks like progress in a good year can reverse when volumes fall.
What to Read Alongside
Pair gross margin with Revenue to frame the cyclical volume backdrop, Operating Margin to capture SG&A discipline layered on top of direct production costs, and Net Margin for bottom-line translation after interest and tax are loaded in.
| # | Symbol | Company | Sector | ||
|---|---|---|---|---|---|
| 1 | NMM | Navios Maritime Partners L.P. | Industrials | 90.50% | $2.64B |
| 2 | DLB | Dolby Laboratories, Inc. | Industrials | 88.13% | $5.37B |
| 3 | GPN | Global Payments Inc. | Industrials | 72.57% | $22.57B |
| 4 | VRSK | Verisk Analytics, Inc. | Industrials | 69.88% | $22.39B |
| 5 | OTTR | Otter Tail Corporation | Industrials | 69.02% | $3.70B |
| 6 | TDG | TransDigm Group Incorporated | Industrials | 60.14% | $61.34B |
| 7 | VLTO | Veralto Corporation | Industrials | 59.95% | $23.20B |
| 8 | AXON | Axon Enterprise, Inc. | Industrials | 59.65% | $36.72B |
| 9 | EFX | Equifax Inc. | Industrials | 56.45% | $18.64B |
| 10 | NDSN | Nordson Corporation | Industrials | 55.16% | $17.51B |
| 11 | DLX | Deluxe Corporation | Industrials | 53.00% | $1.08B |
| 12 | EMR | Emerson Electric Co. | Industrials | 52.84% | $83.63B |
| 13 | BAH | Booz Allen Hamilton Holding Corporation | Industrials | 52.71% | $9.31B |
| 14 | GGG | Graco Inc. | Industrials | 52.45% | $12.40B |
| 15 | BRC | Brady Corporation | Industrials | 51.75% | $3.93B |
| 16 | WSC | WillScot Holdings Corporation | Industrials | 51.00% | $3.28B |
| 17 | CTAS | Cintas Corporation | Industrials | 50.67% | $78.79B |
| 18 | ULS | UL Solutions Inc. | Industrials | 49.46% | $13.39B |
| 19 | WTS | Watts Water Technologies, Inc. | Industrials | 49.46% | $11.70B |
| 20 | RSG | Republic Services, Inc. | Industrials | 49.39% | $65.51B |
| 21 | HLMN | Hillman Solutions Corp. | Industrials | 48.73% | $1.38B |
| 22 | ROK | Rockwell Automation, Inc. | Industrials | 48.14% | $47.18B |
| 23 | HAYW | Hayward Holdings, Inc. | Industrials | 48.00% | $2.73B |
| 24 | AYI | Acuity Inc. | Industrials | 47.83% | $9.17B |
| 25 | MSA | MSA Safety Incorporated | Industrials | 46.46% | $6.84B |
| 26 | CMPR | Cimpress plc | Industrials | 46.29% | $1.94B |
| 27 | FTAI | FTAI Aviation Ltd. | Industrials | 46.17% | $19.80B |
| 28 | KAI | Kadant Inc. | Industrials | 45.21% | $3.14B |
| 29 | ALLE | Allegion plc | Industrials | 45.20% | $12.87B |
| 30 | ZWS | Zurn Elkay Water Solutions Corporation | Industrials | 45.10% | $7.66B |
| 31 | FAST | Fastenal Company | Industrials | 45.01% | $56.97B |
| 32 | FBIN | Fortune Brands Innovations, Inc. | Industrials | 44.57% | $4.73B |
| 33 | IEX | IDEX Corporation | Industrials | 44.51% | $16.40B |
| 34 | RBC | RBC Bearings Incorporated | Industrials | 44.37% | $15.59B |
| 35 | ITW | Illinois Tool Works Inc. | Industrials | 44.10% | $76.19B |
| 36 | IR | Ingersoll Rand Inc. | Industrials | 43.61% | $28.06B |
| 37 | CODI | Compass Diversified | Industrials | 43.47% | $0.84B |
| 38 | NPO | Enpro Inc. | Industrials | 42.64% | $6.27B |
| 39 | CXT | Crane NXT, Co. | Industrials | 42.48% | $2.63B |
| 40 | WCN | Waste Connections, Inc. | Industrials | 42.37% | $39.13B |
| 41 | CR | Crane Company | Industrials | 42.20% | $11.50B |
| 42 | GFF | Griffon Corporation | Industrials | 41.99% | $4.31B |
| 43 | CSW | CSW Industrials, Inc. | Industrials | 41.91% | $4.72B |
| 44 | ENR | Energizer Holdings, Inc. | Industrials | 41.75% | $1.48B |
| 45 | KMT | Kennametal Inc. | Industrials | 41.16% | $2.25B |
| 46 | MSM | MSC Industrial Direct Co., Inc. | Industrials | 40.75% | $6.79B |
| 47 | AWI | Armstrong World Industries, Inc. | Industrials | 40.64% | $6.84B |
| 48 | SPXC | SPX Technologies, Inc. | Industrials | 40.51% | $9.08B |
| 49 | PNR | Pentair plc | Industrials | 40.48% | $8.90B |
| 50 | WM | Waste Management, Inc. | Industrials | 40.44% | $82.76B |
| 51 | TNC | Tennant Company | Industrials | 40.24% | $1.12B |
| 52 | MMM | 3M Company | Industrials | 39.91% | $85.08B |
| 53 | GTES | Gates Industrial Corporation Ltd. | Industrials | 39.84% | $6.44B |
| 54 | HEI | HEICO Corporation | Industrials | 39.83% | $42.35B |
| 55 | DOV | Dover Corporation | Industrials | 39.77% | $25.06B |
| 56 | TREX | Trex Company, Inc. | Industrials | 39.17% | $4.37B |
| 57 | MIDD | The Middleby Corporation | Industrials | 39.11% | $5.03B |
| 58 | GWW | W.W. Grainger, Inc. | Industrials | 39.06% | $60.19B |
| 59 | AOS | A. O. Smith Corporation | Industrials | 38.83% | $7.74B |
| 60 | SUNB | Sunbelt Rentals Holdings, Inc. | Industrials | 38.46% | $29.85B |
| 61 | XYL | Xylem Inc. | Industrials | 38.46% | $25.04B |
| 62 | GNRC | Generac Holdings Inc. | Industrials | 38.29% | $12.11B |
| 63 | WMS | Advanced Drainage Systems, Inc. | Industrials | 38.27% | $9.57B |
| 64 | URI | United Rentals, Inc. | Industrials | 38.16% | $64.10B |
| 65 | NVT | nVent Electric plc | Industrials | 37.74% | $25.81B |
| 66 | PH | Parker-Hannifin Corporation | Industrials | 37.69% | $120.84B |
| 67 | AEIS | Advanced Energy Industries, Inc. | Industrials | 37.66% | $10.52B |
| 68 | ETN | Eaton Corporation plc | Industrials | 37.59% | $169.12B |
| 69 | RRX | Regal Rexnord Corporation | Industrials | 37.37% | $10.04B |
| 70 | RHI | Robert Half Inc. | Industrials | 37.23% | $3.78B |
| 71 | CW | Curtiss-Wright Corporation | Industrials | 37.20% | $20.98B |
| 72 | ICFI | ICF International, Inc. | Industrials | 37.16% | $1.51B |
| 73 | HON | Honeywell International Inc. | Industrials | 36.93% | $65.44B |
| 74 | ESAB | ESAB Corporation | Industrials | 36.88% | $4.17B |
| 75 | UNF | UniFirst Corporation | Industrials | 36.59% | $4.77B |
| 76 | JCI | Johnson Controls International plc | Industrials | 36.41% | $87.94B |
| 77 | VRT | Vertiv Holdings Co | Industrials | 36.32% | $96.58B |
| 78 | LECO | Lincoln Electric Holdings, Inc. | Industrials | 36.25% | $14.08B |
| 79 | MWA | Mueller Water Products, Inc. | Industrials | 36.14% | $3.42B |
| 80 | AME | AMETEK, Inc. | Industrials | 36.04% | $55.30B |
| 81 | CSL | Carlisle Companies Incorporated | Industrials | 35.71% | $12.62B |
| 82 | GIC | Global Industrial Company | Industrials | 35.54% | $1.55B |
| 83 | FELE | Franklin Electric Co., Inc. | Industrials | 35.47% | $4.21B |
| 84 | MAS | Masco Corporation | Industrials | 35.43% | $13.36B |
| 85 | ITT | ITT Inc. | Industrials | 35.35% | $18.39B |
| 86 | HUBB | Hubbell Incorporated | Industrials | 35.32% | $24.17B |
| 87 | JBTM | JBT Marel Corporation | Industrials | 35.14% | $5.73B |
| 88 | FPS | Forgent Power Solutions, Inc. | Industrials | 35.04% | $10.36B |
| 89 | DCI | Donaldson Company, Inc. | Industrials | 34.85% | $9.98B |
| 90 | SITE | SiteOne Landscape Supply, Inc. | Industrials | 34.76% | $3.99B |
| 91 | HWM | Howmet Aerospace Inc. | Industrials | 34.17% | $90.68B |
| 92 | WAB | Westinghouse Air Brake Technologies Corporation | Industrials | 34.08% | $47.87B |
| 93 | HURN | Huron Consulting Group Inc. | Industrials | 33.94% | $2.53B |
| 94 | MATW | Matthews International Corporation | Industrials | 33.89% | $0.62B |
| 95 | CWST | Casella Waste Systems, Inc. | Industrials | 33.77% | $5.54B |
| 96 | GTLS | Chart Industries Inc | Industrials | 33.72% | $10.05B |
| 97 | HI | Hillenbrand, Inc. | Industrials | 33.69% | $2.26B |
| 98 | DSGR | Distribution Solutions Group, Inc. | Industrials | 33.44% | $1.61B |
| 99 | FLS | Flowserve Corporation | Industrials | 33.44% | $9.49B |
| 100 | LII | Lennox International Inc. | Industrials | 33.39% | $12.57B |
No companies match this search.
How this ranking is built
Companies are ranked by gross margin as reported in their most recent annual filing with the SEC. Figures shown are in US dollars (or percent, as noted), rounded to two decimals.
- Source: annual 10-K / 20-F filings from companies trading on US exchanges (NYSE, Nasdaq, AMEX).
- Fiscal year: whichever annual period the company has most recently filed. Fiscal years don't always align with the calendar year, so the "as of FY" stamp above reflects the most common year across the table.
- Filtered out: warrants, preferred shares, and duplicate listings that share a parent company's financials.
- Size floor: A company qualifies at $1 billion in annual revenue or above, so a small filer with a freak ratio cannot top the list.
- Value range: Only figures above 0% and up to 100% qualify.
- Cost-classification check: A company whose gross margin runs more than 70 points above its operating margin is left out, because at that gap the split between cost of sales and operating cost is a reporting convention rather than a margin.
- Update cadence: refreshed as companies file new annual reports (typically within 60–90 days of fiscal year end).
Not financial advice. This is a research tool, not a recommendation.