CoreWeave (CRWV) Operating Margin (2024 - 2026)
CoreWeave's (CRWV) quarterly Operating Margin came in at 1.9% in Q2 2026, down 347.0% year-over-year from 0.77% in Q2 2025, and up 72.54% quarter-over-quarter from 6.93% in Q1 2026.
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CoreWeave (CRWV) Operating Margin (2024 - 2026) Analysis & Trends
CoreWeave has disclosed Operating Margin across 3 years of filings, most recently posting 1.9% for Q2 2026.
- In Q2 2026, Operating Margin fell 347.0% year-over-year to 1.9%; the TTM figure through Jun 2026 stood at 3.04% (down 932.0% YoY), while the FY2025 annual figure was 0.9%, down 1782.0% from the prior year.
- Operating Margin came in at 1.9% for Q2 2026 at CoreWeave, up from 6.93% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 20.06% in Q3 2024 to a low of 6.93% in Q1 2026.
- Average Operating Margin over 3 years is 5.18%, with a median of 2.68% recorded in 2025.
- Year-over-year, Operating Margin sank 2073 bps in 2025 and plunged 347 bps in 2026.
- Over 3 years, Operating Margin stood at 15.04% in 2024, then sank by 138 bps to 5.7% in 2025, then jumped by 67 bps to 1.9% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 1.9% in Q2 2026, 6.93% in Q1 2026, and 5.7% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,667.18 Bn | 3,534.43 Bn | 60.48 Bn | 45.11% |
| 2 | International Business Machines | 219.09 Bn | 207.74 Bn | 9.91 Bn | 15.24% |
| 3 | Nebius | 58.78 Bn | 50.74 Bn | 448.70 Mn | -30.21% |
| 4 | CoreWeave | 55.00 Bn | 49.46 Bn | 1.70 Bn | -1.90% |
| 5 | Nutanix | 17.90 Bn | 15.89 Bn | 610.79 Mn | 10.03% |
| 6 | DigitalOcean Holdings | 13.16 Bn | 12.39 Bn | 154.66 Mn | 10.45% |
| 7 | Kingsoft Cloud Holdings | 2.84 Bn | 2.15 Bn | 68.71 Mn | 0.75% |
| 8 | Tuya | 1.14 Bn | 160.97 Mn | 43.05 Mn | 10.02% |
| 9 | SharonAI Holdings | 1.07 Bn | -787.99 Mn | 1.17 Mn | -1,283.24% |
| 10 | Backblaze | 791.99 Mn | 740.61 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -1.90% |
| Mar 31, 2026 | -6.93% |
| Dec 31, 2025 | -5.70% |
| Sep 30, 2025 | 3.80% |
| Jun 30, 2025 | 1.57% |
| Mar 31, 2025 | -2.75% |
| Dec 31, 2024 | 15.04% |
| Sep 30, 2024 | 20.06% |
| Jun 30, 2024 | 19.66% |
| Mar 31, 2024 | 8.93% |