Elastic (ESTC) Operating Margin (2017 - 2026)
Elastic's Operating Margin came in at -4.93% for fiscal Q1 2027 (quarter ended Jul 31, 2026), down 2.66 percentage points from -2.27% a year earlier and down 1.29 percentage points from the prior quarter.
Elastic (ESTC) Operating Margin (2017 - 2026) Analysis & Trends
Over the trailing twelve months to Jul 31, 2026, Elastic reported Operating Margin of -2.64%, down 0.67 percentage points year-over-year; for FY2026 (ended Apr 30, 2026), it was -1.92%, up 1.78 percentage points from FY2025.
- Operating Margin has increased in each of the last three fiscal years, with a five-year change of +19.35 percentage points (FY2021 to FY2026).
- Going back by fiscal year, Operating Margin was -3.70% in FY2025 (+6.55 pp), -10.25% in FY2024 (+10.25 pp), -20.50% in FY2023 (-0.36 pp) and -20.14% in FY2022 (+1.14 pp).
- The fiscal Q1 2027 figure represents the lowest quarterly Operating Margin since fiscal Q1 2025.
- Year-over-year, Operating Margin increased in five of the last eight quarters, with an average year-over-year change of +3.50 percentage points.
- The fastest year-over-year change in Operating Margin over five years came in fiscal Q3 2024 (a gain of 17.21 percentage points), and the weakest in fiscal Q1 2023 (a drop of 8.18 percentage points).
- Business Quant data shows ESTC's Operating Margin at -3.64% (Q4 2026), 0.14% (Q3 2026) and -1.94% (Q2 2026) in the three fiscal quarters before Q1 2027.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 319.55 Bn | 304.63 Bn | 2.30 Bn | 5.04% |
| 2 | CrowdStrike Holdings | 265.46 Bn | 245.90 Bn | 1.10 Bn | -2.26% |
| 3 | Fortinet | 129.36 Bn | 115.29 Bn | 1.64 Bn | 33.66% |
| 4 | Snowflake | 115.65 Bn | 102.97 Bn | 1.04 Bn | -17.00% |
| 5 | Datadog | 96.45 Bn | 78.09 Bn | 881.34 Mn | 0.49% |
| 6 | Axon Enterprise | 34.50 Bn | 29.03 Bn | 546.45 Mn | 5.17% |
| 7 | Okta | 33.79 Bn | 23.89 Bn | 641.00 Mn | 13.29% |
| 8 | Zscaler | 32.51 Bn | 18.63 Bn | - | - |
| 9 | Baidu | 29.59 Bn | -44.04 Bn | 1.47 Mn | 9.66% |
| 10 | Elastic | 9.24 Bn | 3.77 Bn | 356.19 Mn | -4.93% |
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | -4.93% |
| 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% |
Elastic 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=ESTC&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "ESTC", "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=ESTC&period=max&api_key=YOUR_API_KEY");
const data = await res.json();