So-Young International (SY) Net Margin (2018 - 2026)
So-Young International (SY) posted quarterly Net Margin of 11.9% for Q1 2026, up 33.0% year-over-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.
- In Q1 2026, Net Margin rose 33.0% year-over-year to 11.9%; the TTM figure through Mar 2026 stood at 15.78% (up 2543.0% YoY), while the FY2025 annual figure was 15.68%, up 2515.0% from the prior year.
- Net Margin for Q1 2026 stood at 11.9%, up from 24.9% in the prior quarter.
- The five-year high for Net Margin was 9.05% in Q4 2022, with the low at 164.1% in Q4 2024.
- The 5-year median for Net Margin is 8.03% (2024), against an average of 15.89%.
- The sharpest annual moves came in 2024 and 2025: Net Margin plunged 16347 bps in 2024, then surged 13920 bps in 2025.
- So-Young International's Net Margin stood at 9.05% in 2022, then plunged by 107 bps to 0.63% in 2023, then sank by 26066 bps to 164.1% in 2024, then soared by 85 bps to 24.9% in 2025, then surged by 52 bps to 11.9% in 2026.
- Business Quant data shows SY's Net Margin at 11.9% in Q1 2026, 24.9% in Q4 2025, and 16.68% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 39.72 Bn | 32.40 Bn | 662.02 Mn | 29.55% |
| 2 | BrightSpring Health Services | 12.19 Bn | 11.64 Bn | 492.75 Mn | 2.18% |
| 3 | Healthequity | 8.79 Bn | 8.52 Bn | 256.31 Mn | 19.57% |
| 4 | 10x Genomics | 7.31 Bn | 6.76 Bn | 112.50 Mn | -11.87% |
| 5 | Hinge Health | 7.10 Bn | 6.71 Bn | 183.95 Mn | 20.25% |
| 6 | MiniMed | 5.66 Bn | 5.36 Bn | 480.00 Mn | -22.10% |
| 7 | Waystar Holding | 4.76 Bn | 4.56 Bn | 221.99 Mn | 12.78% |
| 8 | Doximity | 4.46 Bn | 3.77 Bn | 132.93 Mn | 15.53% |
| 9 | Heartflow | 3.66 Bn | 3.28 Bn | 53.19 Mn | -24.57% |
| 10 | So-Young International | 37.66 Mn | -77.47 Mn | 26.35 Mn | -11.90% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -11.90% |
| Dec 31, 2025 | -24.90% |
| Sep 30, 2025 | -16.68% |
| Jun 30, 2025 | -8.12% |
| Mar 31, 2025 | -12.23% |
| Dec 31, 2024 | -164.10% |
| Sep 30, 2024 | 6.18% |
| Jun 30, 2024 | 3.68% |
| Mar 31, 2024 | -8.03% |
| Dec 31, 2023 | -0.63% |
| Sep 30, 2023 | 3.86% |
| Jun 30, 2023 | -0.72% |
| Mar 31, 2023 | -6.36% |
| Dec 31, 2022 | 9.05% |
| Sep 30, 2022 | -4.72% |
| Jun 30, 2022 | -10.74% |
| Mar 31, 2022 | -23.70% |
| Dec 31, 2021 | -9.65% |
| Sep 30, 2021 | 2.36% |
| Jun 30, 2021 | 17.38% |