So-Young International (SY) Net Margin (2018 - 2026)

So-Young International's (SY) quarterly Net Margin came in at 11.9% in Q1 2026, up 33.0% year-on-year from 8.95% in Q1 2025, and up 52.21% quarter-over-quarter from 24.9% in Q4 2025.

So-Young International (SY) Net Margin (2018 - 2026) Analysis & Trends

So-Young International's Net Margin history runs 9 years deep, the most recent figure standing at 11.9% for Q1 2026.

  • On a quarterly basis, Net Margin rose 33.0% year-over-year to 11.9% in Q1 2026; TTM through Mar 2026 was 10.12%, a 762.0% decrease from a year earlier, with the FY2025 full-year figure at 15.68%, up 2515.0% from the prior year.
  • Net Margin improved to 11.9% in Q1 2026 per SY's latest filing, from 24.9% in the prior quarter.
  • Across five years, Net Margin topped out at 0.0% in Q4 2022 and bottomed at 24.9% in Q4 2025.
  • The 5-year median for Net Margin is 0.0% (2024), against an average of 3.06%.
  • Across the five-year window, Net Margin sank 2490 bps in 2025 and soared 33 bps in 2026, its largest moves.
  • Year by year, Net Margin stood at 0.0% in 2022, then sank by 57 bps to 0.0% in 2023, then slumped by 3906 bps to 0.0% in 2024, then sank by 1199563898 bps to 24.9% in 2025, then soared by 52 bps to 11.9% in 2026.
  • Per Business Quant, the three latest SY Net Margin figures stand at 11.9% (Q1 2026), 24.9% (Q4 2025), and 0.0% (Q3 2025).

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Net Margin (Qtr)
1 Veeva Systems 29.34 Bn 22.03 Bn 662.02 Mn 29.55%
2 BrightSpring Health Services 13.49 Bn 12.59 Bn 482.22 Mn 4.12%
3 Healthequity 7.96 Bn 7.70 Bn 256.31 Mn 19.57%
4 10x Genomics 6.17 Bn 5.63 Bn 106.18 Mn -8.93%
5 Hinge Health 6.02 Bn 5.70 Bn 154.23 Mn 18.66%
6 MiniMed 4.19 Bn 3.89 Bn 480.00 Mn -22.10%
7 Waystar Holding 4.14 Bn 4.07 Bn 216.84 Mn 13.79%
8 Doximity 3.82 Bn 3.08 Bn 125.97 Mn 13.15%
9 Privia Health 3.10 Bn 2.73 Bn - 0.61%
10 So-Young International 149.13 Mn 34.00 Mn 26.35 Mn -11.90%

Historic Data

Download Data
DateValue
Mar 31, 2026 -11.90%
Dec 31, 2025 -24.90%
Sep 30, 2025 0.00%
Jun 30, 2025 0.00%
Mar 31, 2025 -12.23%
Dec 31, 2024 0.00%
Sep 30, 2024 0.00%
Jun 30, 2024 0.00%
Mar 31, 2024 0.00%
Dec 31, 2023 0.00%
Sep 30, 2023 0.00%
Jun 30, 2023 0.00%
Mar 31, 2023 0.00%
Dec 31, 2022 0.00%
Jun 30, 2022 0.00%
Mar 31, 2022 0.00%
Dec 31, 2021 0.00%
Sep 30, 2021 0.00%
Jun 30, 2021 0.00%
Mar 31, 2021 0.00%