Leslie's (LESL) Operating Margin (2019 - 2026)
Leslie's' (LESL) quarterly Operating Margin came in at 20.4% in Q2 2026, up 691.0% year-on-year from 2.58% in Q2 2025, and up 56.34% quarter-over-quarter from 46.73% in Q1 2026.
Leslie's (LESL) Operating Margin (2019 - 2026) Analysis & Trends
Leslie's' Operating Margin history runs 8 years deep, the most recent figure standing at 20.4% for Q2 2026.
- On a quarterly basis, Operating Margin rose 691.0% year-over-year to 20.4% in Q2 2026; TTM through Apr 2026 was 15.41%, a 1814.0% decrease from a year earlier, with the FY2025 full-year figure at 13.68%, down 1797.0% from the prior year.
- Operating Margin advanced to 20.4% in Q2 2026 per LESL's latest filing, from 46.73% in the prior quarter.
- Across five years, Operating Margin topped out at 25.55% in Q3 2022 and bottomed at 46.73% in Q1 2026.
- The 5-year median for Operating Margin is 9.29% (2023), against an average of 6.59%.
- Across the five-year window, Operating Margin soared 1103 bps in 2022 and tumbled 4520 bps in 2025, its largest moves.
- Year by year, Operating Margin stood at 13.83% in 2022, then sank by 52 bps to 20.96% in 2023, then dropped by 8 bps to 22.66% in 2024, then tumbled by 70 bps to 38.56% in 2025, then soared by 47 bps to 20.4% in 2026.
- Per Business Quant, the three latest LESL Operating Margin figures stand at 20.4% (Q2 2026), 46.73% (Q1 2026), and 38.56% (Q4 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Caseys General Stores | 32.43 Bn | 31.91 Bn | 1.08 Bn | 7.66% |
| 2 | NaaS Technology | 31.54 Bn | 31.54 Bn | - | - |
| 3 | Williams Sonoma | 28.17 Bn | 27.15 Bn | 1.10 Bn | 20.27% |
| 4 | Ulta Beauty | 23.05 Bn | 22.56 Bn | 1.48 Bn | 12.23% |
| 5 | Best Buy | 18.23 Bn | 16.48 Bn | 2.10 Bn | 4.14% |
| 6 | Dick'S Sporting Goods | 16.52 Bn | 15.17 Bn | 1.77 Bn | 2.96% |
| 7 | MINISO Group Holding | 15.94 Bn | 14.87 Bn | 414.86 Mn | 14.56% |
| 8 | Tractor Supply | 15.92 Bn | 15.70 Bn | 1.30 Bn | 6.50% |
| 9 | Five Below | 12.14 Bn | 11.21 Bn | 696.98 Mn | 17.99% |
| 10 | Leslie's | 8.63 Mn | -8.29 Mn | 53.35 Mn | -20.40% |
Historic Data
Download Data| Date | Value |
|---|---|
| Apr 4, 2026 | -20.40% |
| Jan 3, 2026 | -46.73% |
| Oct 4, 2025 | -38.56% |
| Jun 28, 2025 | 13.65% |
| Mar 29, 2025 | -27.31% |
| Dec 28, 2024 | -22.66% |
| Sep 28, 2024 | 6.64% |
| Jun 29, 2024 | 17.15% |
| Mar 30, 2024 | -16.18% |
| Dec 30, 2023 | -20.96% |
| Sep 30, 2023 | 8.91% |
| Jul 1, 2023 | 18.96% |
| Apr 1, 2023 | -11.83% |
| Dec 31, 2022 | -13.83% |
| Oct 1, 2022 | 17.47% |
| Jul 2, 2022 | 25.55% |
| Apr 2, 2022 | -1.75% |
| Jan 1, 2022 | -6.75% |
| Oct 2, 2021 | 16.41% |
| Jul 3, 2021 | 27.90% |