Q2 Holdings (QTWO) Operating Margin (2013 - 2026)
Q2 Holdings (QTWO) recorded Operating Margin of 13.35% in Q2 2026, up 8.31 percentage points from 5.04% a year earlier and up 0.56 percentage points from the prior quarter.
Powered by 
Analysis
Q2 Holdings (QTWO) Operating Margin (2013 - 2026) Analysis & Trends
On a TTM basis, Q2 Holdings' Operating Margin came in at 10.03% as of Jun 30, 2026, up 10.35 percentage points year-over-year; for FY2025, it was 5.02%, up 11.09 percentage points from FY2024.
- Annual Operating Margin has increased for three straight years, with a five-year change of +29.81 percentage points (FY2020 to FY2025).
- Across earlier years, Operating Margin came in at -6.07% in FY2024 (+7.71 pp), -13.78% in FY2023 (+4.74 pp), -18.52% in FY2022 (-2.88 pp) and -15.64% in FY2021 (+9.15 pp).
- The Q2 2026 figure is the highest quarterly Operating Margin in data going back to Q1 2013.
- On a year-over-year basis, Operating Margin has increased for 14 consecutive quarters, with an average year-over-year change of +10.28 percentage points over the last eight quarters.
- Peak year-over-year performance for Operating Margin in the last five years was a gain of 12.97 percentage points in Q2 2025, against a drop of 8.85 percentage points in Q4 2022 at the low end.
- Per Business Quant, the preceding three quarters came in at 12.79% (Q1 2026), 8.10% (Q4 2025) and 5.46% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 50.59 Bn | 7.40 Bn | - | -9.30% |
| 2 | PayPal Holdings | 46.79 Bn | 5.01 Bn | - | 16.44% |
| 3 | Block | 44.05 Bn | 15.31 Bn | 3.17 Bn | 6.75% |
| 4 | Iren | 31.74 Bn | 19.34 Bn | 103.89 Mn | -452.09% |
| 5 | Corpay | 26.01 Bn | 16.21 Bn | - | 35.28% |
| 6 | Fiserv | 24.47 Bn | 21.17 Bn | 2.90 Bn | 19.18% |
| 7 | Global Payments | 22.51 Bn | 952.73 Mn | 2.03 Bn | 10.15% |
| 8 | Bitmine Immersion Technologies | 15.56 Bn | 12.94 Bn | 40.81 Mn | -25.50% |
| 9 | Guidewire Software | 11.90 Bn | 8.47 Bn | 269.68 Mn | 15.16% |
| 10 | Q2 Holdings | 3.44 Bn | 1.95 Bn | 130.20 Mn | 13.35% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 13.35% |
| Mar 31, 2026 | 12.79% |
| Dec 31, 2025 | 8.10% |
| Sep 30, 2025 | 5.46% |
| Jun 30, 2025 | 5.04% |
| Mar 31, 2025 | 1.15% |
| Dec 31, 2024 | -0.86% |
| Sep 30, 2024 | -7.31% |
| Jun 30, 2024 | -7.93% |
| Mar 31, 2024 | -8.57% |
| Dec 31, 2023 | -11.11% |
| Sep 30, 2023 | -14.95% |
| Jun 30, 2023 | -15.32% |
| Mar 31, 2023 | -13.85% |
| Dec 31, 2022 | -22.17% |
| Sep 30, 2022 | -18.72% |
| Jun 30, 2022 | -16.95% |
| Mar 31, 2022 | -15.96% |
| Dec 31, 2021 | -13.32% |
| Sep 30, 2021 | -18.13% |
API Access
Q2 Holdings 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=QTWO&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "QTWO", "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=QTWO&period=max&api_key=YOUR_API_KEY");
const data = await res.json();