Stem (STEM) Tax Rate (2023 - 2025)
Stem (STEM) recorded Tax Rate of -0.09% in Q2 2026, down 0.34 percentage points from 0.25% a year earlier but up 0.50 percentage points from the prior quarter.
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Analysis
Stem (STEM) Tax Rate (2023 - 2025) Analysis & Trends
On a TTM basis, Stem's Tax Rate came in at -0.16% as of Jun 30, 2026, up 3.21 percentage points year-over-year; for FY2025, it was 0.39%, up 0.43 percentage points from FY2024.
- Annual Tax Rate has a five-year change of +0.39 percentage points (FY2020 to FY2025).
- Across earlier years, Tax Rate came in at -0.04% in FY2024 (+0.27 pp), -0.31% in FY2023 (-11.20 pp) and 10.89% in FY2022.
- Quarterly Tax Rate has ranged from -0.86% in Q4 2025 to 40.36% in Q1 2022 over the past five years.
- On a year-over-year basis, Tax Rate has declined for three consecutive quarters, with an average year-over-year change of -0.08 percentage points over the last eight quarters.
- Peak year-over-year performance for Tax Rate in the last five years was a gain of 2.53 percentage points in Q2 2023, against a drop of 40.13 percentage points in Q1 2023 at the low end.
- Per Business Quant, the preceding three quarters came in at -0.60% (Q1 2026), -0.86% (Q4 2025) and 0.59% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Tax Rate (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 319.55 Bn | 304.63 Bn | 2.30 Bn | - |
| 2 | CrowdStrike Holdings | 265.46 Bn | 245.90 Bn | 1.10 Bn | - |
| 3 | Fortinet | 129.36 Bn | 115.29 Bn | 1.64 Bn | 15.97% |
| 4 | Snowflake | 115.65 Bn | 102.97 Bn | 1.04 Bn | - |
| 5 | Datadog | 96.45 Bn | 78.09 Bn | 881.34 Mn | 13.92% |
| 6 | Axon Enterprise | 34.50 Bn | 29.03 Bn | 546.45 Mn | 9.97% |
| 7 | Okta | 33.79 Bn | 23.89 Bn | 641.00 Mn | 7.94% |
| 8 | Zscaler | 32.51 Bn | 18.63 Bn | - | - |
| 9 | Baidu | 29.59 Bn | -44.04 Bn | 1.47 Mn | 31.08% |
| 10 | Stem | 43.72 Mn | -123.76 Mn | 13.89 Mn | - |
API Access
Stem Tax Rate 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=tax-rate&ticker=STEM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-rate", "ticker": "STEM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=tax-rate&ticker=STEM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();