Bitcoin Depot (BTMCQ) Operating Margin (2022 - 2025)
Bitcoin Depot (BTMCQ) posted Operating Margin of 3.55% for Q4 2025, down 148.91% sequentially from 7.25% in Q3 2025, and down 1117.0% YoY from 0.35% in Q4 2024.
Bitcoin Depot (BTMCQ) Operating Margin (2022 - 2025) Analysis & Trends
Bitcoin Depot has reported Operating Margin for 4 years, with the latest figure at 3.55% in Q4 2025.
- Quarterly Operating Margin fell 1117.0% year-over-year to 3.55% in Q4 2025, while the trailing twelve-month figure through Dec 2025 was 6.7% (up 248.0% YoY) and the FY2025 annual result came in at 6.7%, up 248.0% from the prior year.
- Operating Margin fell to 3.55% in Q4 2025 per BTMCQ's latest filing, from 7.25% in the prior quarter.
- Over five years, Operating Margin peaked at 10.84% in Q1 2025 and troughed at 3.55% in Q4 2025.
- A 4-year average of 4.5% and a median of 4.14% in 2023 frame the typical range for Operating Margin.
- The widest YoY moves for Operating Margin: up 1033 bps in 2025, down 1117 bps in 2025.
- Over 4 years, Operating Margin stood at 2.86% in 2022, then declined by 11 bps to 2.56% in 2023, then surged by 198 bps to 7.62% in 2024, then sank by 147 bps to 3.55% in 2025.
- According to Business Quant data, Operating Margin over the past three periods registered 3.55%, 7.25%, and 9.15% for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Morgan Stanley | 333.21 Bn | 173.07 Bn | - | - |
| 2 | Goldman Sachs | 311.14 Bn | -665.21 Bn | - | - |
| 3 | Schwab Charles | 196.95 Bn | 123.36 Bn | - | - |
| 4 | Robinhood Markets | 93.19 Bn | 75.81 Bn | 1.20 Bn | 35.93% |
| 5 | Interactive Brokers | 41.71 Bn | -22.59 Bn | - | - |
| 6 | LPL Financial Holdings | 29.06 Bn | 26.36 Bn | - | - |
| 7 | Tradeweb Markets | 23.03 Bn | 20.97 Bn | - | 43.88% |
| 8 | Circle Internet | 21.70 Bn | 19.97 Bn | 288.85 Mn | 4.90% |
| 9 | Futu Holdings | 16.14 Bn | 214.18 Mn | 733.58 Mn | 64.41% |
| 10 | Bitcoin Depot | 330,711.39 | -65.30 Mn | 17.31 Mn | -3.55% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -3.55% |
| Sep 30, 2025 | 7.25% |
| Jun 30, 2025 | 9.15% |
| Mar 31, 2025 | 10.84% |
| Dec 31, 2024 | 7.62% |
| Sep 30, 2024 | 4.05% |
| Jun 30, 2024 | 4.66% |
| Mar 31, 2024 | 0.50% |
| Dec 31, 2023 | 2.56% |
| Sep 30, 2023 | 4.14% |
| Jun 30, 2023 | 5.35% |
| Mar 31, 2023 | 5.30% |
| Dec 31, 2022 | 2.86% |
| Sep 30, 2022 | 2.78% |
| Jun 30, 2022 | 3.94% |