So-Young International (SY) Operating Margin (2018 - 2026)
So-Young International (SY) posted quarterly Operating Margin of 13.38% for Q1 2026, up 122.0% year-over-year from 6.03% in Q1 2025, and up 49.87% quarter-over-quarter from 26.69% in Q4 2025.
So-Young International (SY) Operating Margin (2018 - 2026) Analysis & Trends
So-Young International's Operating Margin history runs 9 years deep, the most recent figure standing at 13.38% for Q1 2026.
- In Q1 2026, Operating Margin rose 122.0% year-over-year to 13.38%; the TTM figure through Mar 2026 stood at 18.13% (up 2497.0% YoY), while the FY2025 annual figure was 18.79%, up 2379.0% from the prior year.
- Operating Margin for Q1 2026 stood at 13.38%, up from 26.69% in the prior quarter.
- The five-year high for Operating Margin was 7.49% in Q4 2022, with the low at 162.25% in Q4 2024.
- The 5-year median for Operating Margin is 11.57% (2024), against an average of 18.16%.
- The sharpest annual moves came in 2024 and 2025: Operating Margin sank 16100 bps in 2024, then jumped 13557 bps in 2025.
- So-Young International's Operating Margin stood at 7.49% in 2022, then tumbled by 117 bps to 1.26% in 2023, then sank by 12817 bps to 162.25% in 2024, then surged by 84 bps to 26.69% in 2025, then jumped by 50 bps to 13.38% in 2026.
- Business Quant data shows SY's Operating Margin at 13.38% in Q1 2026, 26.69% in Q4 2025, and 18.8% in Q3 2025.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 39.72 Bn | 32.40 Bn | 662.02 Mn | 30.93% |
| 2 | BrightSpring Health Services | 12.19 Bn | 11.64 Bn | 492.75 Mn | 3.37% |
| 3 | Healthequity | 8.79 Bn | 8.52 Bn | 256.31 Mn | 29.03% |
| 4 | 10x Genomics | 7.31 Bn | 6.76 Bn | 112.50 Mn | -12.95% |
| 5 | Hinge Health | 7.10 Bn | 6.71 Bn | 183.95 Mn | 19.00% |
| 6 | MiniMed | 5.66 Bn | 5.36 Bn | 480.00 Mn | -11.11% |
| 7 | Waystar Holding | 4.76 Bn | 4.56 Bn | 221.99 Mn | 23.79% |
| 8 | Doximity | 4.46 Bn | 3.77 Bn | 132.93 Mn | 21.48% |
| 9 | Heartflow | 3.66 Bn | 3.28 Bn | 53.19 Mn | -27.93% |
| 10 | So-Young International | 37.66 Mn | -77.47 Mn | 26.35 Mn | -13.38% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -13.38% |
| Dec 31, 2025 | -26.69% |
| Sep 30, 2025 | -18.80% |
| Jun 30, 2025 | -12.44% |
| Mar 31, 2025 | -14.60% |
| Dec 31, 2024 | -162.25% |
| Sep 30, 2024 | 1.26% |
| Jun 30, 2024 | 1.65% |
| Mar 31, 2024 | -11.57% |
| Dec 31, 2023 | -1.26% |
| Sep 30, 2023 | -0.52% |
| Jun 30, 2023 | -5.03% |
| Mar 31, 2023 | -10.78% |
| Dec 31, 2022 | 7.49% |
| Sep 30, 2022 | -2.27% |
| Jun 30, 2022 | -13.59% |
| Mar 31, 2022 | -25.89% |
| Dec 31, 2021 | -11.01% |
| Sep 30, 2021 | 4.47% |
| Jun 30, 2021 | 12.77% |