Phathom Pharmaceuticals (PHAT) Operating Margin (2023 - 2026)
Phathom Pharmaceuticals (PHAT) recorded Operating Margin of -5.34% in Q2 2026, up 146.36 percentage points from -151.69% a year earlier and up 21.21 percentage points from the prior quarter.
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Analysis
Phathom Pharmaceuticals (PHAT) Operating Margin (2023 - 2026) Analysis & Trends
On a TTM basis, Phathom Pharmaceuticals' Operating Margin came in at -16.96% as of Jun 30, 2026, up 218.93 percentage points year-over-year; for FY2025, it came in at -91.36%, up 410.82 percentage points from FY2024.
- Across earlier years, Operating Margin came in at -502.18% in FY2024 (+24030.37 pp) and -24532.55% in FY2023.
- The Q2 2026 figure is the highest quarterly Operating Margin in data going back to Q4 2023.
- On a year-over-year basis, Operating Margin has increased for seven consecutive quarters, with an average year-over-year change of +2188.52 percentage points over the last seven quarters.
- Per Business Quant, the preceding three quarters came in at -26.55% (Q1 2026), -10.29% (Q4 2025) and -30.85% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Eli Lilly | 1,136.97 Bn | 1,105.55 Bn | 19.71 Bn | 51.16% |
| 2 | Johnson & Johnson | 619.72 Bn | 538.25 Bn | 17.26 Bn | 28.21% |
| 3 | AbbVie | 503.40 Bn | 476.52 Bn | 12.70 Bn | 37.86% |
| 4 | Merck | 370.15 Bn | 324.53 Bn | 12.21 Bn | -3.52% |
| 5 | Novartis Ag | 298.64 Bn | 262.63 Bn | 11.24 Bn | 32.97% |
| 6 | Astrazeneca | 261.07 Bn | 234.76 Bn | 12.86 Bn | 20.57% |
| 7 | Amgen | 237.00 Bn | 192.40 Bn | 7.24 Bn | 34.95% |
| 8 | Gilead Sciences | 191.24 Bn | 165.43 Bn | 6.22 Bn | -133.21% |
| 9 | Pfizer | 170.31 Bn | 116.96 Bn | 10.94 Bn | 28.37% |
| 10 | Phathom Pharmaceuticals | 587.90 Mn | -52.05 Mn | 59.18 Mn | -5.34% |
Historic Data
Download Data
Historic 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% |
API Access
Phathom Pharmaceuticals 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=PHAT&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "PHAT", "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=PHAT&period=max&api_key=YOUR_API_KEY");
const data = await res.json();