Bitcoin Depot (BTM) Net Margin (2022 - 2025)
Bitcoin Depot's (BTM) quarterly Net Margin came in at 2.89% in Q4 2025, up 145.0% year-on-year from 1.18% in Q4 2024, and down 185.54% quarter-over-quarter from 3.38% in Q3 2025.
Bitcoin Depot (BTM) Net Margin (2022 - 2025) Analysis & Trends
Bitcoin Depot has disclosed Net Margin across 4 years of filings, most recently posting 2.89% for Q4 2025.
- Net Margin for Q4 2025 came in at 2.89%, up 145.0% year-over-year; the trailing twelve-month figure through Dec 2025 was 4.57% (up 518.0% YoY), and the FY2025 annual result was 1.01%, up 103.0% from the prior year.
- Net Margin came in at 2.89% for Q4 2025 at Bitcoin Depot, down from 3.38% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 8.3% in Q1 2025 to a low of 5.6% in Q4 2023.
- The 4-year median for Net Margin is 1.7% (2024), against an average of 0.26%.
- Across the five-year window, Net Margin plunged 677 bps in 2024 and surged 1135 bps in 2025, its largest moves.
- Bitcoin Depot's Net Margin stood at 5.55% in 2022, then retreated by 1 bps to 5.6% in 2023, then increased by 23 bps to 4.33% in 2024, then soared by 33 bps to 2.89% in 2025.
- The last three Net Margin figures came in at 2.89% (Q4 2025), 3.38% (Q3 2025), and 7.16% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | SOL Strategies | 100,773.79 Bn | 100,773.79 Bn | - | - |
| 2 | Morgan Stanley | 331.35 Bn | 197.82 Bn | - | 26.29% |
| 3 | Goldman Sachs | 317.73 Bn | -619.82 Bn | - | 31.36% |
| 4 | Schwab Charles | 153.74 Bn | 108.77 Bn | - | 36.98% |
| 5 | Robinhood Markets | 75.98 Bn | 71.34 Bn | 960.00 Mn | 32.80% |
| 6 | Interactive Brokers | 38.91 Bn | 49.50 Bn | - | 16.00% |
| 7 | LPL Financial Holdings | 22.76 Bn | 21.73 Bn | - | 7.22% |
| 8 | Tradeweb Markets | 20.90 Bn | 19.65 Bn | - | 37.74% |
| 9 | Circle Internet | 20.00 Bn | 18.49 Bn | 35.01 Mn | 132.82% |
| 10 | Bitcoin Depot | 3.52 Mn | -62.08 Mn | -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% |