So-Young International (SY) Net Margin (2018 - 2026)
So-Young International (SY) recorded quarterly Net Margin of 11.9% in Q1 2026, up 52.47% quarter-over-quarter from 25.04% in Q4 2025, and up 33.0% on a YoY basis from 8.95% in Q1 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 15.75% (up 2517.0% YoY), while the FY2025 annual figure was 15.48%, up 2537.0% from the prior year.
- Net Margin was 11.9% for Q1 2026 at So-Young International, up from 25.04% in the prior quarter.
- In the past five years, Net Margin ranged from a high of 8.31% in Q4 2022 to a low of 163.51% in Q4 2024.
- Historically, Net Margin has averaged 16.15% across 5 years, with a median of 8.12% in 2025.
- The sharpest annual moves came in 2024 and 2025: Net Margin slumped 16289 bps in 2024, then surged 13848 bps in 2025.
- A 5-year view of Net Margin shows it stood at 8.31% in 2022, then slumped by 108 bps to 0.63% in 2023, then slumped by 25972 bps to 163.51% in 2024, then surged by 85 bps to 25.04% in 2025, then surged by 52 bps to 11.9% in 2026.
- The last three Net Margin figures came in at 11.9% (Q1 2026), 25.04% (Q4 2025), and 16.38% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 24.83 Bn | 17.52 Bn | 662.02 Mn | 29.55% |
| 2 | BrightSpring Health Services | 13.57 Bn | 12.69 Bn | 482.22 Mn | 2.06% |
| 3 | Healthequity | 7.20 Bn | 6.93 Bn | 256.31 Mn | 19.57% |
| 4 | Hinge Health | 5.42 Bn | 5.11 Bn | 154.23 Mn | 18.66% |
| 5 | 10x Genomics | 4.46 Bn | 3.92 Bn | 106.18 Mn | -8.93% |
| 6 | Doximity | 3.81 Bn | 3.06 Bn | 125.97 Mn | 13.15% |
| 7 | Waystar Holding | 3.52 Bn | 3.36 Bn | 268.04 Mn | 13.80% |
| 8 | Privia Health | 2.94 Bn | 2.57 Bn | 595.71 Mn | 0.61% |
| 9 | Omnicell | 1.76 Bn | 1.59 Bn | 140.36 Mn | 3.68% |
| 10 | So-Young International | 28.43 Mn | -78.18 Mn | 26.35 Mn | -11.90% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -11.90% |
| Dec 31, 2025 | -25.04% |
| Sep 30, 2025 | -16.38% |
| Jun 30, 2025 | -8.12% |
| Mar 31, 2025 | -12.23% |
| Dec 31, 2024 | -163.51% |
| Sep 30, 2024 | 6.73% |
| 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 | 8.31% |
| Sep 30, 2022 | -9.82% |
| Jun 30, 2022 | -10.74% |
| Mar 31, 2022 | -23.70% |
| Dec 31, 2021 | -7.40% |
| Sep 30, 2021 | 3.34% |
| Jun 30, 2021 | 17.37% |