PubMatic (PUBM) Operating Margin (2020 - 2026)
PubMatic (PUBM) reported Operating Margin of 24.41% for Q1 2026, down 576.0% year-over-year from 5.13% in Q1 2025, and down 329.23% on a QoQ basis from 10.65% in Q4 2025.
PubMatic (PUBM) has 7 years of Operating Margin data on file, last reported at 24.41% in Q1 2026.
- Quarterly Operating Margin fell 576.0% year-over-year to 24.41% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 7.32% (down 647.0% YoY) and the FY2025 annual result came in at 6.1%, down 745.0% from the prior year.
- Operating Margin fell to 24.41% in Q1 2026 per PUBM's latest filing, from 10.65% in the prior quarter.
- Across five years, Operating Margin topped out at 24.13% in Q4 2023 and bottomed at 24.41% in Q1 2026.
- The 5-year median for Operating Margin is 1.9% (2024), against an average of 0.15%.
- The widest annual swing landed in 2023, when Operating Margin plunged 2766 bps; it then soared 1098 bps in 2024.
- Tracing PUBM's Operating Margin over 5 years: stood at 22.24% in 2022, then rose by 8 bps to 24.13% in 2023, then declined by 28 bps to 17.31% in 2024, then plunged by 38 bps to 10.65% in 2025, then sank by 329 bps to 24.41% in 2026.
- Per Business Quant, the three latest PUBM Operating Margin figures stand at 24.41% (Q1 2026), 10.65% (Q4 2025), and 12.39% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 253.17 Bn | 235.20 Bn | 8.16 Bn | 28.69% |
| 2 | Salesforce | 171.07 Bn | 161.50 Bn | 8.69 Bn | 16.69% |
| 3 | Uber Technologies | 151.10 Bn | 150.06 Bn | 11.88 Bn | 14.56% |
| 4 | Shopify | 134.25 Bn | 128.50 Bn | 1.55 Bn | 12.05% |
| 5 | ServiceNow | 105.72 Bn | 100.54 Bn | 2.83 Bn | 13.34% |
| 6 | Cadence Design Systems | 101.64 Bn | 100.23 Bn | 1.26 Bn | 29.26% |
| 7 | Adobe | 100.35 Bn | 93.46 Bn | 5.73 Bn | 37.79% |
| 8 | Automatic Data Processing | 90.91 Bn | 87.68 Bn | 2.87 Bn | -22.99% |
| 9 | Intuit | 88.30 Bn | 81.52 Bn | 6.77 Bn | 46.97% |
| 10 | PubMatic | 488.16 Mn | 343.29 Mn | 36.47 Mn | -24.41% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -24.41% |
| Dec 31, 2025 | 10.65% |
| Sep 30, 2025 | -12.39% |
| Jun 30, 2025 | -7.68% |
| Mar 31, 2025 | -18.65% |
| Dec 31, 2024 | 17.31% |
| Sep 30, 2024 | -1.90% |
| Jun 30, 2024 | -5.92% |
| Mar 31, 2024 | -8.28% |
| Dec 31, 2023 | 24.13% |
| Sep 30, 2023 | -0.90% |
| Jun 30, 2023 | -11.26% |
| Mar 31, 2023 | -19.26% |
| Dec 31, 2022 | 22.24% |
| Sep 30, 2022 | 14.92% |
| Jun 30, 2022 | 15.54% |
| Mar 31, 2022 | 8.40% |
| Dec 31, 2021 | 37.01% |
| Sep 30, 2021 | 24.18% |
| Jun 30, 2021 | 20.41% |
| Mar 31, 2021 | 15.23% |
| Dec 31, 2020 | 39.48% |
| Sep 30, 2020 | 20.61% |
| Jun 30, 2020 | 2.77% |
| Mar 31, 2020 | 3.63% |