So-Young International (SY) Operating Margin (2018 - 2026)
So-Young International (SY) posted Operating Margin of 8.64% for Q2 2026, up 35.44% on a QoQ basis from 13.38% in Q1 2026, and up 380.0% year-over-year from 1.8% in Q2 2025.
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Analysis
So-Young International (SY) Operating Margin (2018 - 2026) Analysis & Trends
So-Young International has reported Operating Margin for 9 years, with the latest figure at 8.64% in Q2 2026.
- On a quarterly basis, Operating Margin rose 380.0% year-over-year to 8.64% in Q2 2026; TTM through Jun 2026 was 16.56%, a 3104.0% increase from a year earlier, with the FY2025 full-year figure at 18.79%, up 2379.0% from the prior year.
- Operating Margin was 8.64% for Q2 2026 at So-Young International, up from 13.38% 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.
- Average Operating Margin over 5 years is 17.63%, with a median of 11.18% recorded in 2023.
- The sharpest annual moves came in 2024 and 2025: Operating Margin sank 16100 bps in 2024, then soared 13557 bps in 2025.
- Over 5 years, 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 jumped by 84 bps to 26.69% in 2025, then surged by 68 bps to 8.64% in 2026.
- The last three Operating Margin figures came in at 8.64% (Q2 2026), 13.38% (Q1 2026), and 26.69% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Davita | 11.76 Bn | 12.64 Bn | 1.16 Bn | 16.29% |
| 2 | RadNet | 5.80 Bn | 5.37 Bn | 88.08 Mn | 6.34% |
| 3 | Concentra Group Holdings Parent | 4.40 Bn | 4.26 Bn | 192.10 Mn | 18.99% |
| 4 | Privia Health | 2.61 Bn | 2.25 Bn | - | 1.86% |
| 5 | Pediatrix Medical | 2.20 Bn | 1.79 Bn | - | 11.67% |
| 6 | Fresenius Medical Care AG | 2.11 Bn | 1.41 Bn | 1.52 Bn | 9.58% |
| 7 | Progyny | 2.01 Bn | 1.77 Bn | 89.30 Mn | 11.41% |
| 8 | Surgery Partners | 1.87 Bn | 3.08 Bn | 622.10 Mn | 12.03% |
| 9 | U S Physical Therapy | 1.18 Bn | 1.47 Bn | 41.94 Mn | 10.25% |
| 10 | So-Young International | 42.55 Mn | -72.69 Mn | 32.84 Mn | -8.64% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | -8.64% |
| 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% |