# Gross profit

> Revenue less cost of revenue, as the company reports it: what is left from sales before operating expenses.

Updated Oct 17, 2026.

Gross profit is revenue less the cost of revenue. It is what a company keeps from its sales before it pays for research, sales and marketing, administration and other operating costs.

## How Listed shows it

Listed shows gross profit only where the company reports it, under the XBRL concept `GrossProfit`. It does not subtract cost of revenue from revenue itself. A company that does not report gross profit has usually chosen not to: it may leave some direct costs outside cost of revenue, or present its costs in a way that makes the subtraction misleading. A figure the company never stated is not shown as if it had.

Q4 is derived as the fiscal year less the first three quarters.

## What to check

Gross profit moves with pricing, product mix and input costs. A change in what the company counts as cost of revenue changes gross profit too, so read the cost of revenue line's description when gross profit jumps.

## When it says "not reported"

- The company does not present a gross profit line. Many banks, insurers, utilities and service companies do not.
- The company tags it with a concept of its own.

When gross profit is not reported, the forecast leagues ask for [operating margin](/glossary/operating-margin) instead of [gross margin](/glossary/gross-margin).

## Related terms

- [Revenue](/glossary/revenue.md)
- [Cost of revenue](/glossary/cost-of-revenue.md)
- [Gross margin](/glossary/gross-margin.md)
- [Operating income](/glossary/operating-income.md)

All terms: [/glossary.md](/glossary.md)