American Well (AMWL) Net Margin (2019 - 2026)
American Well's (AMWL) quarterly Net Margin came in at 12.8% in Q1 2026, down 323.0% year-on-year from 5.74% in Q1 2025, and up 9063.82% quarter-over-quarter from 0.14% in Q4 2025.
American Well (AMWL) Net Margin (2019 - 2026) Analysis & Trends
American Well's Net Margin history runs 8 years deep, the most recent figure standing at 12.8% for Q1 2026.
- On a quarterly basis, Net Margin fell 323.0% year-over-year to 12.8% in Q1 2026; TTM through Mar 2026 was 2.08%, a 201.0% decrease from a year earlier, with the FY2025 full-year figure at 3.46%, changed N/A from the prior year.
- Net Margin climbed to 12.8% in Q1 2026 per AMWL's latest filing, from 0.14% in the prior quarter.
- Across five years, Net Margin topped out at 16.03% in Q1 2025 and bottomed at 621.64% in Q1 2023.
- The 5-year median for Net Margin is 101.12% (2022), against an average of 119.34%.
- Across the five-year window, Net Margin tumbled 51260 bps in 2023 and surged 49980 bps in 2024, its largest moves.
- Year by year, Net Margin stood at 76.57% in 2022, then grew by 9 bps to 70.02% in 2023, then tumbled by 74 bps to 121.84% in 2024, then jumped by 100 bps to 0.14% in 2025, then surged by 9064 bps to 12.8% in 2026.
- Per Business Quant, the three latest AMWL Net Margin figures stand at 12.8% (Q1 2026), 0.14% (Q4 2025), and 3.55% (Q3 2025).
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 29.34 Bn | 22.03 Bn | 662.02 Mn | 29.55% |
| 2 | BrightSpring Health Services | 13.49 Bn | 12.59 Bn | 482.22 Mn | 4.12% |
| 3 | Healthequity | 7.96 Bn | 7.70 Bn | 256.31 Mn | 19.57% |
| 4 | 10x Genomics | 6.17 Bn | 5.63 Bn | 106.18 Mn | -8.93% |
| 5 | Hinge Health | 6.02 Bn | 5.70 Bn | 154.23 Mn | 18.66% |
| 6 | MiniMed | 4.19 Bn | 3.89 Bn | 480.00 Mn | -22.10% |
| 7 | Waystar Holding | 4.14 Bn | 4.07 Bn | 216.84 Mn | 13.79% |
| 8 | Doximity | 3.82 Bn | 3.08 Bn | 125.97 Mn | 13.15% |
| 9 | Privia Health | 3.10 Bn | 2.73 Bn | - | 0.61% |
| 10 | American Well | 180.58 Mn | 13.37 Mn | 27.96 Mn | 12.80% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 12.80% |
| Dec 31, 2025 | -0.14% |
| Sep 30, 2025 | -3.55% |
| Mar 31, 2025 | 16.03% |
| Mar 31, 2024 | -121.84% |
| Dec 31, 2023 | -70.02% |
| Sep 30, 2023 | -220.45% |
| Jun 30, 2023 | -148.75% |
| Mar 31, 2023 | -621.64% |
| Dec 31, 2022 | -76.57% |
| Sep 30, 2022 | -101.12% |
| Jun 30, 2022 | -107.11% |
| Mar 31, 2022 | -109.05% |
| Dec 31, 2021 | -73.01% |
| Sep 30, 2021 | -80.96% |
| Jun 30, 2021 | -62.13% |
| Mar 31, 2021 | -67.69% |
| Dec 31, 2020 | -80.20% |
| Sep 30, 2020 | -102.49% |
| Jun 30, 2020 | -128.01% |