Soluna Holdings (SLNH) Operating Margin (2010 - 2026)
Soluna Holdings' (SLNH) quarterly Operating Margin came in at 112.5% in Q2 2026, down 494.0% on a YoY basis from 28.55% in Q2 2025, and up 36.43% quarter-over-quarter from 176.99% in Q1 2026.
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Analysis
Soluna Holdings (SLNH) Operating Margin (2010 - 2026) Analysis & Trends
Soluna Holdings (SLNH) has reported Operating Margin for 12 consecutive years, with 112.5% the latest figure, recorded in Q2 2026.
- For the quarter ending Q2 2026, Operating Margin fell 494.0% year-over-year to 112.5%; the trailing twelve-month figure through Jun 2026 stood at 127.03% (up 8112.0% YoY), and the FY2025 full-year result was 113.34%, up 1165.0% from the prior year.
- Operating Margin advanced to 112.5% in Q2 2026 per SLNH's latest filing, from 176.99% in the prior quarter.
- Across five years, Operating Margin topped out at 3.24% in Q1 2024 and bottomed at 654.68% in Q3 2022.
- Historically, Operating Margin has averaged 192.14% across 5 years, with a median of 116.16% in 2024.
- The sharpest annual moves came in 2022 and 2023: Operating Margin plunged 62472 bps in 2022, then soared 61780 bps in 2023.
- Over 5 years, Operating Margin stood at 641.74% in 2022, then surged by 96 bps to 23.94% in 2023, then tumbled by 1680 bps to 426.02% in 2024, then soared by 69 bps to 131.43% in 2025, then gained by 14 bps to 112.5% in 2026.
- According to Business Quant data, Operating Margin over the past three periods registered 112.5%, 176.99%, and 131.43% for Q2 2026, Q1 2026, and Q4 2025 respectively.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Equinix | 104.32 Bn | 102.12 Bn | 1.40 Bn | 25.33% |
| 2 | Terawulf | 8.71 Bn | 5.94 Bn | 32.37 Mn | -313.74% |
| 3 | Applied Digital | 8.12 Bn | 6.10 Bn | 97.29 Mn | -48.24% |
| 4 | Cipher Digital | 7.83 Bn | 3.83 Bn | 9.79 Mn | -316.21% |
| 5 | GDS Holdings | 7.07 Bn | 5.01 Bn | 97.89 Mn | 14.22% |
| 6 | Core Scientific | 5.87 Bn | 3.93 Bn | 70.04 Mn | -47.79% |
| 7 | Vnet | 1.95 Bn | 1.06 Bn | 74.45 Mn | 8.25% |
| 8 | Sify Technologies | 1.53 Bn | 1.53 Bn | 51.65 Mn | 9.03% |
| 9 | WhiteFiber | 771.39 Mn | 711.02 Mn | 18.88 Mn | -32.09% |
| 10 | Soluna Holdings | 167.65 Mn | 161.65 Mn | 766,000.00 | -112.50% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -112.50% |
| Mar 31, 2026 | -176.99% |
| Dec 31, 2025 | -131.43% |
| Sep 30, 2025 | -92.45% |
| Jun 30, 2025 | -107.57% |
| Mar 31, 2025 | -120.91% |
| Dec 31, 2024 | -426.02% |
| Sep 30, 2024 | -119.81% |
| Jun 30, 2024 | -37.98% |
| Mar 31, 2024 | 3.24% |
| Dec 31, 2023 | -23.94% |
| Sep 30, 2023 | -64.45% |
| Jun 30, 2023 | -342.07% |
| Mar 31, 2023 | -227.51% |
| Dec 31, 2022 | -641.74% |
| Sep 30, 2022 | -654.68% |
| Jun 30, 2022 | -108.71% |
| Mar 31, 2022 | -72.97% |
| Dec 31, 2021 | -17.70% |
| Sep 30, 2021 | -29.96% |
API Access
Soluna 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=SLNH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "SLNH", "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=SLNH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();