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Asset Utilization RatioAssets AverageDebt RatioDebt to EquityEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioGross MarginInventory AverageInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on Sales

So-Young International (SY) Gross Margin (2018 - 2025)

So-Young International has reported Gross Margin over the past 8 years, most recently at 44.45% for Q4 2025.

  • For Q4 2025, Gross Margin fell 1410.0% year-over-year to 44.45%; the TTM value through Dec 2025 reached 47.74%, down 1357.0%, while the annual FY2025 figure was 47.77%, 1354.0% down from the prior year.
  • Gross Margin for Q4 2025 was 44.45% at So-Young International, down from 47.29% in the prior quarter.
  • Over five years, Gross Margin peaked at 86.99% in Q2 2021 and troughed at 44.45% in Q4 2025.
  • A 5-year average of 64.5% and a median of 63.42% in 2023 define the central range for Gross Margin.
  • Biggest five-year swings in Gross Margin: surged 905bps in 2021 and later plummeted -2093bps in 2022.
  • Year by year, Gross Margin stood at 71.73% in 2021, then increased by 2bps to 72.87% in 2022, then decreased by -11bps to 64.76% in 2023, then decreased by -10bps to 58.55% in 2024, then fell by -24bps to 44.45% in 2025.
  • Business Quant data shows Gross Margin for SY at 44.45% in Q4 2025, 47.29% in Q3 2025, and 51.27% in Q2 2025.