Biote (BTMD) Operating Margin (2021 - 2026)
Biote (BTMD) reported Operating Margin of -7.93% for Q2 2026, down 29.96 percentage points from 22.03% a year earlier and down 14.98 percentage points from the prior quarter.
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Analysis
Biote (BTMD) Operating Margin (2021 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Biote's Operating Margin came in at 8.04%, down 9.75 percentage points year-over-year; for FY2025, it was 18.50%, up 2.46 percentage points from FY2024.
- Operating Margin has increased for three consecutive years, though with a four-year change of -6.30 percentage points (FY2021 to FY2025).
- By year, Operating Margin came in at 16.03% in FY2024 (+0.57 pp), 15.46% in FY2023 (+52.27 pp), -36.81% in FY2022 (-61.60 pp) and 24.79% in FY2021.
- The Q2 2026 figure ranks as the lowest quarterly Operating Margin since Q2 2022.
- Year over year, Operating Margin gained in three of the last eight quarters, with an average year-over-year change of -4.08 percentage points.
- The high point for year-over-year Operating Margin in five years was Q2 2023 (a gain of 222.54 percentage points); the low point was Q2 2022 (a drop of 236.50 percentage points).
- Per Business Quant data, the three quarters before Q2 2026 came in at 7.05% (Q1 2026), 14.72% (Q4 2025) and 17.24% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 106.37 Bn | 104.21 Bn | 17.03 Bn | 15.00% |
| 2 | Natera | 45.03 Bn | 40.66 Bn | 513.47 Mn | -8.60% |
| 3 | Labcorp Holdings | 30.12 Bn | 28.22 Bn | 1.11 Bn | 10.55% |
| 4 | Quest Diagnostics | 28.44 Bn | 26.52 Bn | 1.04 Bn | 15.47% |
| 5 | Guardant Health | 20.93 Bn | 16.54 Bn | 236.15 Mn | -36.78% |
| 6 | BrightSpring Health Services | 14.41 Bn | 11.29 Bn | 518.55 Mn | 3.81% |
| 7 | Tempus AI | 14.27 Bn | 11.42 Bn | 266.70 Mn | -13.82% |
| 8 | Encompass Health | 13.98 Bn | 14.44 Bn | 1.54 Bn | 13.86% |
| 9 | Davita | 11.35 Bn | 10.22 Bn | 1.13 Bn | 13.95% |
| 10 | Biote | 42.67 Mn | 961,552.38 | 29.33 Mn | 5.74% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 5.74% |
| Jun 30, 2026 | -7.93% |
| Mar 31, 2026 | 7.05% |
| Dec 31, 2025 | 14.72% |
| Sep 30, 2025 | 17.24% |
| Jun 30, 2025 | 22.03% |
| Mar 31, 2025 | 19.78% |
| Dec 31, 2024 | 5.55% |
| Sep 30, 2024 | 23.71% |
| Jun 30, 2024 | 12.68% |
| Mar 31, 2024 | 22.28% |
| Dec 31, 2023 | 12.05% |
| Sep 30, 2023 | 16.68% |
| Jun 30, 2023 | 15.57% |
| Mar 31, 2023 | 17.57% |
| Dec 31, 2022 | 16.42% |
| Sep 30, 2022 | 18.62% |
| Jun 30, 2022 | -206.98% |
| Mar 31, 2022 | 26.28% |
| Dec 31, 2021 | 15.78% |
API Access
Biote Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=BTMD&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "BTMD", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=BTMD&period=max&api_key=YOUR_API_KEY");
const data = await res.json();