Stem (STEM) Operating Margin (2020 - 2026)
Stem (STEM) posted quarterly Operating Margin of 49.01% for Q1 2026, up 1603.0% year-over-year from 2.88% in Q1 2025, and down 176.86% quarter-over-quarter from 17.7% in Q4 2025.
Powered by 
Analysis
Stem (STEM) Operating Margin (2020 - 2026) Analysis & Trends
Stem's Operating Margin history runs 7 years deep, the most recent figure standing at 49.01% for Q1 2026.
- In Q1 2026, Operating Margin rose 1603.0% year-over-year to 49.01%; the TTM figure through Mar 2026 stood at 31.92% (up 49081.0% YoY), while the FY2025 annual figure was 35.64%, up 54496.0% from the prior year.
- Operating Margin for Q1 2026 stood at 49.01%, down from 17.7% in the prior quarter.
- The five-year high for Operating Margin was 17.7% in Q4 2025, with the low at 1705.49% in Q2 2024.
- The 5-year median for Operating Margin is 49.01% (2026), against an average of 182.72%.
- The sharpest annual moves came in 2024 and 2025: Operating Margin sank 166797 bps in 2024, then surged 167071 bps in 2025.
- Stem's Operating Margin stood at 21.71% in 2022, then gained by 8 bps to 20.02% in 2023, then slumped by 322 bps to 84.45% in 2024, then soared by 79 bps to 17.7% in 2025, then tumbled by 177 bps to 49.01% in 2026.
- Business Quant data shows STEM's Operating Margin at 49.01% in Q1 2026, 17.7% in Q4 2025, and 33.61% in Q3 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | AXIA Energia | 30.72 Bn | 28.40 Bn | 2.59 Bn | 41.22% |
| 2 | Enlight Renewable Energy | 9.46 Bn | 8.16 Bn | 117.49 Mn | 54.78% |
| 3 | Ormat Technologies | 6.42 Bn | 5.77 Bn | 68.70 Mn | 13.22% |
| 4 | Brookfield Renewable Partners | 4.65 Bn | 2.41 Bn | 927.00 Mn | 24.62% |
| 5 | Clearway Energy | 3.45 Bn | 3.11 Bn | 332.00 Mn | 24.12% |
| 6 | ReNew Energy Global | 2.48 Bn | 2.09 Bn | - | 18.68% |
| 7 | Fluence Energy | 1.46 Bn | 894.31 Mn | 33.24 Mn | -4.58% |
| 8 | XPLR Infrastructure | 1.12 Bn | 1.12 Bn | 219.00 Mn | 16.53% |
| 9 | Energy Vault Holdings | 621.58 Mn | 514.23 Mn | 5.38 Mn | -141.97% |
| 10 | Stem | 50.02 Mn | 11.60 Mn | 13.89 Mn | -22.79% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -22.79% |
| Mar 31, 2026 | -49.01% |
| Dec 31, 2025 | -17.70% |
| Sep 30, 2025 | -33.61% |
| Jun 30, 2025 | -34.77% |
| Mar 31, 2025 | -65.05% |
| Dec 31, 2024 | -84.45% |
| Sep 30, 2024 | -493.16% |
| Jun 30, 2024 | -1,705.49% |
| Mar 31, 2024 | -267.04% |
| Dec 31, 2023 | -20.02% |
| Sep 30, 2023 | -51.05% |
| Jun 30, 2023 | -37.52% |
| Mar 31, 2023 | -63.28% |
| Dec 31, 2022 | -21.71% |
| Sep 30, 2022 | -32.76% |
| Jun 30, 2022 | -44.55% |
| Mar 31, 2022 | -85.07% |
| Dec 31, 2021 | -57.18% |
| Sep 30, 2021 | -48.03% |