So-Young International (SY) Operating Margin (2018 - 2026)
So-Young International (SY) recorded quarterly Operating Margin of 13.38% in Q1 2026, up 49.87% quarter-over-quarter from 26.69% in Q4 2025, and up 122.0% on a YoY basis from 6.03% in Q1 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 was 13.38% for Q1 2026 at So-Young International, up from 26.69% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 7.49% in Q4 2022 to a low of 162.25% in Q4 2024.
- Historically, Operating Margin has averaged 18.16% across 5 years, with a median of 11.57% in 2024.
- The sharpest annual moves came in 2024 and 2025: Operating Margin slumped 16100 bps in 2024, then surged 13557 bps in 2025.
- A 5-year view of Operating Margin shows it stood at 7.49% in 2022, then plunged by 117 bps to 1.26% in 2023, then slumped by 12817 bps to 162.25% in 2024, then soared by 84 bps to 26.69% in 2025, then surged by 50 bps to 13.38% in 2026.
- The last three Operating Margin figures came in at 13.38% (Q1 2026), 26.69% (Q4 2025), and 18.8% (Q3 2025), per Business Quant data.
Powered by 
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Veeva Systems | 24.83 Bn | 17.52 Bn | 662.02 Mn | 30.93% |
| 2 | BrightSpring Health Services | 13.57 Bn | 12.69 Bn | 482.22 Mn | 3.36% |
| 3 | Healthequity | 7.20 Bn | 6.93 Bn | 256.31 Mn | 29.03% |
| 4 | Hinge Health | 5.42 Bn | 5.11 Bn | 154.23 Mn | 17.59% |
| 5 | 10x Genomics | 4.46 Bn | 3.92 Bn | 106.18 Mn | -11.30% |
| 6 | Doximity | 3.81 Bn | 3.06 Bn | 125.97 Mn | 17.08% |
| 7 | Waystar Holding | 3.52 Bn | 3.36 Bn | 268.04 Mn | 25.64% |
| 8 | Privia Health | 2.94 Bn | 2.57 Bn | 595.71 Mn | 1.23% |
| 9 | Omnicell | 1.76 Bn | 1.59 Bn | 140.36 Mn | 5.44% |
| 10 | So-Young International | 28.43 Mn | -78.18 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% |