Bitcoin Depot (BTM) Net Margin (2022 - 2025)
Bitcoin Depot (BTM) posted Net Margin of 2.89% for Q4 2025, down 185.54% sequentially from 3.38% in Q3 2025, and up 145.0% YoY from 1.18% in Q4 2024.
Bitcoin Depot (BTM) Net Margin (2022 - 2025) Analysis & Trends
Bitcoin Depot (BTM) has 4 years of Net Margin data on file, last reported at 2.89% in Q4 2025.
- Quarterly Net Margin rose 145.0% year-over-year to 2.89% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 4.57% (up 518.0% YoY) and the FY2025 annual result came in at 1.01%, up 103.0% from the prior year.
- Net Margin declined to 2.89% in Q4 2025 per BTM's latest filing, from 3.38% in the prior quarter.
- The five-year high for Net Margin was 8.3% in Q1 2025, with the low at 5.6% in Q4 2023.
- Average Net Margin over 4 years is 0.26%, with a median of 1.7% recorded in 2024.
- Year-over-year, Net Margin slumped 677 bps in 2024 and soared 1135 bps in 2025.
- Bitcoin Depot's Net Margin stood at 5.55% in 2022, then dropped by 1 bps to 5.6% in 2023, then advanced by 23 bps to 4.33% in 2024, then soared by 33 bps to 2.89% in 2025.
- Business Quant data shows BTM's Net Margin at 2.89% in Q4 2025, 3.38% in Q3 2025, and 7.16% in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 330.70 Bn | 197.17 Bn | - | 26.29% |
| 2 | Goldman Sachs | 309.79 Bn | -627.76 Bn | - | 31.36% |
| 3 | Schwab Charles | 167.21 Bn | 122.24 Bn | - | 36.98% |
| 4 | Futu Holdings | 111.36 Bn | 109.19 Bn | 733.58 Mn | 122.40% |
| 5 | Robinhood Markets | 97.69 Bn | 93.05 Bn | 960.00 Mn | 32.80% |
| 6 | LPL Financial Holdings | 23.49 Bn | 22.47 Bn | - | 7.22% |
| 7 | Tradeweb Markets | 21.59 Bn | 20.34 Bn | - | 37.74% |
| 8 | Circle Internet | 15.14 Bn | 13.62 Bn | 35.01 Mn | 132.82% |
| 9 | Iren | 14.46 Bn | 12.24 Bn | 144.76 Mn | -171.16% |
| 10 | Bitcoin Depot | - | - | -368.45 Mn | -2.89% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -2.89% |
| Sep 30, 2025 | 3.38% |
| Jun 30, 2025 | 7.16% |
| Mar 31, 2025 | 8.30% |
| Dec 31, 2024 | -4.33% |
| Sep 30, 2024 | 1.70% |
| Jun 30, 2024 | 2.67% |
| Mar 31, 2024 | -3.05% |
| Dec 31, 2023 | -5.60% |
| Sep 30, 2023 | -3.95% |
| Jun 30, 2023 | -2.03% |
| Mar 31, 2023 | 3.72% |
| Dec 31, 2022 | -5.55% |
| Sep 30, 2022 | 1.89% |
| Jun 30, 2022 | 2.45% |