Elastic (ESTC) Operating Margin (2017 - 2026)
Elastic's (ESTC) quarterly Operating Margin came in at 3.64% in Q2 2026, down 55.0% YoY from 8.09% in Q2 2025, and down 2781.16% on a QoQ basis from 0.14% in Q1 2026.
Elastic (ESTC) Operating Margin (2017 - 2026) Analysis & Trends
Elastic's Operating Margin history runs 10 years deep, the most recent figure standing at 3.64% for Q2 2026.
- On a quarterly basis, Operating Margin fell 55.0% year-over-year to 3.64% in Q2 2026; TTM through Apr 2026 was 1.92%, a 178.0% increase from a year earlier, with the FY2026 full-year figure at 1.92%, up 178.0% from the prior year.
- Operating Margin was 3.64% for Q2 2026 at Elastic, down from 0.14% in the prior quarter.
- Over the last five years, Operating Margin for ESTC reached as high as 0.14% in Q1 2026 and fell as low as 25.26% in Q1 2023.
- A 5-year average of 10.65% and a median of 8.9% in 2024 frame the typical range for Operating Margin.
- The widest annual swing landed in 2022, when Operating Margin slumped 818 bps; it then soared 1721 bps in 2024.
- Tracing ESTC's Operating Margin over 5 years: stood at 18.54% in 2022, then surged by 63 bps to 6.93% in 2023, then soared by 83 bps to 1.21% in 2024, then slumped by 61 bps to 1.94% in 2025, then tumbled by 87 bps to 3.64% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 3.64%, 0.14%, and 1.94% for Q2 2026, Q1 2026, and Q4 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 238.14 Bn | 220.17 Bn | 8.16 Bn | 28.69% |
| 2 | Full Truck Alliance | 166.83 Bn | 164.28 Bn | - | - |
| 3 | Uber Technologies | 150.36 Bn | 149.32 Bn | 11.88 Bn | 14.56% |
| 4 | Shopify | 147.75 Bn | 142.01 Bn | 1.55 Bn | 12.05% |
| 5 | Salesforce | 140.39 Bn | 128.55 Bn | 8.56 Bn | 21.08% |
| 6 | Cadence Design Systems | 105.73 Bn | 104.32 Bn | 1.26 Bn | 29.26% |
| 7 | ServiceNow | 105.42 Bn | 100.24 Bn | 2.83 Bn | 13.34% |
| 8 | Automatic Data Processing | 89.57 Bn | 86.34 Bn | 2.87 Bn | -22.99% |
| 9 | Adobe | 85.05 Bn | 78.16 Bn | 5.90 Bn | 33.82% |
| 10 | Elastic | 6.35 Bn | 5.57 Bn | 339.62 Mn | -3.64% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 30, 2026 | -3.64% |
| Jan 31, 2026 | 0.14% |
| Oct 31, 2025 | -1.94% |
| Jul 31, 2025 | -2.27% |
| Apr 30, 2025 | -3.09% |
| Jan 31, 2025 | -1.21% |
| Oct 31, 2024 | -1.21% |
| Jul 31, 2024 | -9.74% |
| Apr 30, 2024 | -13.65% |
| Jan 31, 2024 | -8.05% |
| Oct 31, 2023 | -6.93% |
| Jul 31, 2023 | -12.34% |
| Apr 30, 2023 | -14.34% |
| Jan 31, 2023 | -25.26% |
| Oct 31, 2022 | -18.54% |
| Jul 31, 2022 | -24.25% |
| Apr 30, 2022 | -24.91% |
| Jan 31, 2022 | -20.47% |
| Oct 31, 2021 | -18.05% |
| Jul 31, 2021 | -16.07% |