CoreWeave (CRWV) Operating Margin (2024 - 2026)
CoreWeave (CRWV) recorded Operating Margin of -1.90% in Q2 2026, down 3.47 percentage points from 1.57% a year earlier but up 5.03 percentage points from the prior quarter.
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Analysis
CoreWeave (CRWV) Operating Margin (2024 - 2026) Analysis & Trends
On a TTM basis, CoreWeave's Operating Margin came in at -3.04% as of Jun 30, 2026, down 9.32 percentage points year-over-year; for FY2025, it was -0.90%, down 17.82 percentage points from FY2024.
- Across earlier years, Operating Margin came in at 16.92% in FY2024 (+23.03 pp) and -6.11% in FY2023.
- Quarterly Operating Margin has ranged from -6.93% in Q1 2026 to 20.06% in Q3 2024 over the past five years.
- On a year-over-year basis, Operating Margin has declined for six consecutive quarters, with an average year-over-year change of -12.40 percentage points over the last six quarters.
- Per Business Quant, the preceding three quarters came in at -6.93% (Q1 2026), -5.70% (Q4 2025) and 3.80% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,833.59 Bn | 3,756.75 Bn | 60.48 Bn | 45.11% |
| 2 | International Business Machines | 212.47 Bn | 163.37 Bn | 9.91 Bn | 15.24% |
| 3 | Cloudflare | 112.40 Bn | 95.93 Bn | 499.52 Mn | -29.55% |
| 4 | Equinix | 99.47 Bn | 88.02 Bn | 1.40 Bn | 25.33% |
| 5 | Nebius | 60.05 Bn | 33.48 Bn | 448.70 Mn | -30.21% |
| 6 | CoreWeave | 48.26 Bn | 35.35 Bn | 1.70 Bn | -1.90% |
| 7 | Verisign | 25.97 Bn | 23.18 Bn | 384.60 Mn | 68.18% |
| 8 | Nutanix | 18.41 Bn | 10.09 Bn | 651.35 Mn | 9.24% |
| 9 | Akamai Technologies | 16.36 Bn | 9.77 Bn | 613.75 Mn | 7.30% |
| 10 | DigitalOcean Holdings | 14.67 Bn | 12.67 Bn | 154.66 Mn | 10.45% |
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% |
API Access
CoreWeave 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=CRWV&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "CRWV", "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=CRWV&period=max&api_key=YOUR_API_KEY");
const data = await res.json();