Phathom Pharmaceuticals (PHAT) Operating Margin (2023 - 2026)
Phathom Pharmaceuticals (PHAT) posted quarterly Operating Margin of 5.34% for Q2 2026, up 14636.0% year-over-year from N/an in Q2 2025, and up 79.89% quarter-over-quarter from 26.55% in Q1 2026.
Phathom Pharmaceuticals (PHAT) Operating Margin (2023 - 2026) Analysis & Trends
Phathom Pharmaceuticals (PHAT) has reported Operating Margin for 4 consecutive years, with 5.34% the latest figure, recorded in Q2 2026.
- In Q2 2026, Operating Margin rose 14636.0% year-over-year to 5.34%; the TTM figure through Jun 2026 stood at 16.96% (up 21893.0% YoY), while the FY2025 annual figure was 91.36%, up 41082.0% from the prior year.
- Operating Margin grew to 5.34% in Q2 2026 per PHAT's latest filing, from 26.55% in the prior quarter.
- Across five years, Operating Margin topped out at 5.34% in Q2 2026 and bottomed at 10245.6% in Q4 2023.
- Historically, Operating Margin has averaged 1463.11% across 4 years, with a median of 200.3% in 2024.
- Annual changes were most pronounced in 2024 — Operating Margin surged 1004530 bps — and 2026, when it surged 14636 bps.
- Phathom Pharmaceuticals' Operating Margin stood at 10245.6% in 2023, then soared by 98 bps to 200.3% in 2024, then surged by 95 bps to 10.29% in 2025, then surged by 48 bps to 5.34% in 2026.
- Business Quant data shows PHAT's Operating Margin at 5.34% in Q2 2026, 26.55% in Q1 2026, and 10.29% in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Vertex Pharmaceuticals | 128.13 Bn | 120.28 Bn | 2.84 Bn | 37.40% |
| 2 | Regeneron Pharmaceuticals | 112.33 Bn | 104.33 Bn | 3.93 Bn | 30.15% |
| 3 | Argenx Se | 53.24 Bn | 48.05 Bn | 1.41 Bn | 31.68% |
| 4 | Revolution Medicines | 43.64 Bn | 43.64 Bn | - | - |
| 5 | BeOne Medicines | 39.27 Bn | 34.17 Bn | 1.53 Bn | 19.06% |
| 6 | MindWalk Holdings | 35.32 Bn | 35.31 Bn | 1.82 Bn | -105.20% |
| 7 | Royalty Pharma | 33.72 Bn | 35.84 Bn | - | 19.75% |
| 8 | Alnylam Pharmaceuticals | 30.58 Bn | 27.27 Bn | 992.69 Mn | 17.93% |
| 9 | Insmed | 27.01 Bn | 25.85 Bn | 358.27 Mn | -0.36% |
| 10 | Phathom Pharmaceuticals | 767.07 Mn | 581.73 Mn | 59.18 Mn | -5.34% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -5.34% |
| Mar 31, 2026 | -26.55% |
| Dec 31, 2025 | -10.29% |
| Sep 30, 2025 | -30.85% |
| Jun 30, 2025 | -151.69% |
| Mar 31, 2025 | -276.53% |
| Dec 31, 2024 | -200.30% |
| Sep 30, 2024 | -432.95% |
| Jun 30, 2024 | -1,055.43% |
| Mar 31, 2024 | -3,658.68% |
| Dec 31, 2023 | -10,245.60% |