Hims & Hers Health (HIMS) Operating Margin (2020 - 2026)
Hims & Hers Health's Operating Margin was -12.90% in Q2 2026, down 17.81 percentage points from 4.90% a year earlier and down 0.02 percentage points from the prior quarter.
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Analysis
Hims & Hers Health (HIMS) Operating Margin (2020 - 2026) Analysis & Trends
On a trailing twelve-month basis, Hims & Hers Health's Operating Margin was -5.99% through Jun 30, 2026, down 12.23 percentage points year-over-year; for FY2025, it came in at 4.50%, up 0.31 percentage points from FY2024.
- Operating Margin has now increased for four consecutive years, with a five-year change of +14.68 percentage points (FY2020 to FY2025).
- In earlier years, Operating Margin was 4.19% in FY2024 (+7.57 pp), -3.38% in FY2023 (+9.66 pp), -13.04% in FY2022 (+29.28 pp) and -42.31% in FY2021 (-32.13 pp).
- The Q2 2026 figure marks the lowest quarterly Operating Margin since Q3 2022.
- Compared with a year earlier, Operating Margin has declined for four straight quarters, with an average year-over-year change of -3.18 percentage points over the last eight quarters.
- The best year-over-year quarter for Operating Margin over five years was Q1 2022 (a gain of 75.84 percentage points); the worst was Q3 2021 (a drop of 29.26 percentage points).
- Per Business Quant data, HIMS's Operating Margin in the three quarters before Q2 2026 was -12.88% (Q1 2026), 1.49% (Q4 2025) and 1.97% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | HCA Healthcare | 94.08 Bn | 93.52 Bn | - | - |
| 2 | Natera | 59.53 Bn | 55.21 Bn | 485.19 Mn | -10.07% |
| 3 | Quest Diagnostics | 25.60 Bn | 24.03 Bn | 1.03 Bn | 15.08% |
| 4 | Labcorp Holdings | 24.98 Bn | 22.75 Bn | 1.11 Bn | 12.10% |
| 5 | Guardant Health | 23.75 Bn | 19.81 Bn | 219.03 Mn | -38.55% |
| 6 | Tenet Healthcare | 20.75 Bn | 11.90 Bn | - | 26.67% |
| 7 | Tempus AI | 14.47 Bn | 11.50 Bn | 246.50 Mn | -19.85% |
| 8 | Encompass Health | 12.19 Bn | 12.65 Bn | - | - |
| 9 | Davita | 11.20 Bn | 9.97 Bn | 1.16 Bn | 16.29% |
| 10 | Hims & Hers Health | 6.70 Bn | 3.90 Bn | 480.80 Mn | -12.90% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -12.90% |
| Mar 31, 2026 | -12.88% |
| Dec 31, 2025 | 1.49% |
| Sep 30, 2025 | 1.97% |
| Jun 30, 2025 | 4.90% |
| Mar 31, 2025 | 9.88% |
| Dec 31, 2024 | 3.86% |
| Sep 30, 2024 | 5.57% |
| Jun 30, 2024 | 3.49% |
| Mar 31, 2024 | 3.56% |
| Dec 31, 2023 | -0.16% |
| Sep 30, 2023 | -3.77% |
| Jun 30, 2023 | -4.44% |
| Mar 31, 2023 | -5.90% |
| Dec 31, 2022 | -6.94% |
| Sep 30, 2022 | -13.80% |
| Jun 30, 2022 | -17.78% |
| Mar 31, 2022 | -16.70% |
| Dec 31, 2021 | -25.46% |
| Sep 30, 2021 | -37.29% |
API Access
Hims & Hers Health 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=HIMS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "HIMS", "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=HIMS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();