Qfin Holdings (QFIN) Operating Margin (2016 - 2026)
Qfin Holdings' (QFIN) quarterly Operating Margin came in at 32.55% in Q2 2026, down 840.0% year-over-year from 4.4% in Q2 2025, and up 30.0% quarter-over-quarter from 25.04% in Q1 2026.
Analysis
Qfin Holdings (QFIN) Operating Margin (2016 - 2026) Analysis & Trends
Qfin Holdings has disclosed Operating Margin across 11 years of filings, most recently posting 32.55% for Q2 2026.
- In Q2 2026, Operating Margin fell 840.0% year-over-year to 32.55%; the TTM figure through Jun 2026 stood at 28.06% (down 1619.0% YoY), while the FY2025 annual figure was 34.77%, down 908.0% from the prior year.
- Operating Margin came in at 32.55% for Q2 2026 at Qfin Holdings, up from 25.04% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 52.38% in Q3 2024 to a low of 21.19% in Q4 2025.
- Average Operating Margin over 5 years is 33.13%, with a median of 31.95% recorded in 2022.
- Year-over-year, Operating Margin slumped 2215 bps in 2022 and soared 1994 bps in 2024.
- Over 5 years, Operating Margin stood at 24.16% in 2022, then grew by 18 bps to 28.46% in 2023, then soared by 48 bps to 42.17% in 2024, then sank by 50 bps to 21.19% in 2025, then surged by 54 bps to 32.55% in 2026.
- Per Business Quant data, the three most recent Operating Margin figures were 32.55% in Q2 2026, 25.04% in Q1 2026, and 21.19% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Upstart Holdings | 2.43 Bn | 1.99 Bn | 303.39 Mn | 4.01% |
| 2 | Pagaya Technologies | 1.70 Bn | 1.51 Bn | 168.33 Mn | 27.34% |
| 3 | Qfin Holdings | 986.27 Mn | -9.51 Mn | - | 32.55% |
| 4 | FinVolution | 836.54 Mn | -90.46 Mn | - | 15.55% |
| 5 | X Financial | 386.17 Mn | -182.14 Mn | 84.09 Mn | 19.62% |
| 6 | Open Lending | 371.20 Mn | 186.25 Mn | 15.64 Mn | -3.09% |
| 7 | Blend Labs | 279.09 Mn | 234.22 Mn | 24.89 Mn | -4.66% |
| 8 | LexinFintech Holdings | 251.25 Mn | 251.25 Mn | 73.06 Mn | 34.29% |
| 9 | Jiayin | 76.25 Mn | 2.23 Mn | - | -33.47% |
| 10 | Antalpha Platform Holding | 76.02 Mn | -813.69 Mn | 11.94 Mn | 205.39% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 32.55% |
| Mar 31, 2026 | 25.04% |
| Dec 31, 2025 | 21.19% |
| Sep 30, 2025 | 32.66% |
| Jun 30, 2025 | 40.96% |
| Mar 31, 2025 | 42.10% |
| Dec 31, 2024 | 42.17% |
| Sep 30, 2024 | 52.38% |
| Jun 30, 2024 | 47.72% |
| Mar 31, 2024 | 32.84% |
| Dec 31, 2023 | 28.46% |
| Sep 30, 2023 | 32.44% |
| Jun 30, 2023 | 30.18% |
| Mar 31, 2023 | 27.98% |
| Dec 31, 2022 | 24.16% |
| Sep 30, 2022 | 27.95% |
| Jun 30, 2022 | 24.16% |
| Mar 31, 2022 | 31.46% |
| Dec 31, 2021 | 33.50% |
| Sep 30, 2021 | 41.05% |