Pulmonx (LUNG) Operating Margin (2019 - 2025)
Pulmonx's (LUNG) quarterly Operating Margin came in at 66.94% in Q3 2025, up 237.0% year-over-year from 19.86% in Q3 2024, and down 7.88% quarter-over-quarter from 62.05% in Q2 2025.
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Pulmonx (LUNG) Operating Margin (2019 - 2025) Analysis & Trends
Pulmonx (LUNG) has reported Operating Margin for 7 consecutive years, with 66.94% the latest figure, recorded in Q3 2025.
- On a quarterly basis, Operating Margin rose 237.0% year-over-year to 66.94% in Q3 2025; TTM through Sep 2025 was 62.38%, a 1102.0% increase from a year earlier, with the FY2024 full-year figure at 68.87%, up 2132.0% from the prior year.
- Operating Margin was 66.94% for Q3 2025 at Pulmonx, down from 62.05% in the prior quarter.
- Over five years, Operating Margin peaked at 56.46% in Q4 2024 and troughed at 145.28% in Q1 2022.
- A 5-year average of 88.82% and a median of 85.9% in 2023 frame the typical range for Operating Margin.
- The widest YoY moves for Operating Margin: up 20988 bps in 2021, down 6433 bps in 2021.
- Over 5 years, Operating Margin stood at 90.21% in 2021, then decreased by 5 bps to 94.83% in 2022, then rose by 24 bps to 72.2% in 2023, then advanced by 22 bps to 56.46% in 2024, then retreated by 19 bps to 66.94% in 2025.
- The last three Operating Margin figures came in at 66.94% (Q3 2025), 62.05% (Q2 2025), and 64.62% (Q1 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Abbott Laboratories | 179.79 Bn | 174.18 Bn | 7.27 Bn | 13.44% |
| 2 | Intuitive Surgical | 127.69 Bn | 122.47 Bn | 1.96 Bn | 33.60% |
| 3 | Medtronic | 117.23 Bn | 108.41 Bn | 6.34 Bn | 18.08% |
| 4 | Stryker | 103.55 Bn | 100.07 Bn | 4.50 Bn | 25.18% |
| 5 | Boston Scientific | 63.24 Bn | 62.70 Bn | 3.85 Bn | 21.65% |
| 6 | Edwards Lifesciences | 49.97 Bn | 45.72 Bn | 1.35 Bn | 29.48% |
| 7 | Alcon | 32.83 Bn | 31.37 Bn | 1.68 Bn | 0.40% |
| 8 | Dexcom | 32.30 Bn | 30.35 Bn | 830.00 Mn | 24.33% |
| 9 | Steris | 20.73 Bn | 20.25 Bn | 684.20 Mn | 19.15% |
| 10 | Pulmonx | 75.94 Mn | 6.19 Mn | - | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2025 | -66.94% |
| Jun 30, 2025 | -62.05% |
| Mar 31, 2025 | -64.62% |
| Dec 31, 2024 | -56.46% |
| Sep 30, 2024 | -69.30% |
| Jun 30, 2024 | -75.17% |
| Mar 31, 2024 | -77.10% |
| Dec 31, 2023 | -72.20% |
| Sep 30, 2023 | -85.90% |
| Jun 30, 2023 | -95.61% |
| Mar 31, 2023 | -112.83% |
| Dec 31, 2022 | -94.83% |
| Sep 30, 2022 | -103.18% |
| Jun 30, 2022 | -103.30% |
| Mar 31, 2022 | -145.28% |
| Dec 31, 2021 | -90.21% |
| Sep 30, 2021 | -73.61% |
| Jun 30, 2021 | -103.93% |
| Mar 31, 2021 | -135.16% |
| Dec 31, 2020 | -95.16% |