ThredUp (TDUP) Operating Margin (2020 - 2026)
ThredUp (TDUP) posted quarterly Operating Margin of 8.07% for Q1 2026, down 45.0% year-over-year from 14.67% in Q1 2025, and up 3.72% quarter-over-quarter from 8.38% in Q4 2025.
ThredUp (TDUP) Operating Margin (2020 - 2026) Analysis & Trends
ThredUp (TDUP) has reported Operating Margin for 7 consecutive years, with 8.07% the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Margin fell 45.0% year-over-year to 8.07%; the TTM figure through Mar 2026 stood at 7.13% (up 549.0% YoY), while the FY2025 annual figure was 7.0%, up 862.0% from the prior year.
- Operating Margin rose to 8.07% in Q1 2026 per TDUP's latest filing, from 8.38% in the prior quarter.
- Across five years, Operating Margin topped out at 22.88% in Q4 2023 and bottomed at 37.07% in Q2 2022.
- Historically, Operating Margin has averaged 15.96% across 5 years, with a median of 17.01% in 2024.
- Annual changes were most pronounced in 2023 — Operating Margin surged 4586 bps — and 2024, when it slumped 3500 bps.
- ThredUp's Operating Margin stood at 22.98% in 2022, then jumped by 200 bps to 22.88% in 2023, then sank by 153 bps to 12.12% in 2024, then jumped by 31 bps to 8.38% in 2025, then advanced by 4 bps to 8.07% in 2026.
- Business Quant data shows TDUP's Operating Margin at 8.07% in Q1 2026, 8.38% in Q4 2025, and 5.34% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Amazon Com | 2,942.52 Bn | 2,819.53 Bn | 198.88 Bn | 13.43% |
| 2 | PDD Holdings | 506.40 Bn | 446.86 Bn | 9.83 Bn | 22.37% |
| 3 | Mercadolibre | 98.49 Bn | 83.30 Bn | 4.16 Bn | 6.72% |
| 4 | DoorDash | 92.97 Bn | 87.62 Bn | 2.35 Bn | 3.50% |
| 5 | JD.com | 87.31 Bn | 58.13 Bn | 7.66 Bn | 1.21% |
| 6 | Sea | 78.18 Bn | 69.66 Bn | 3.15 Bn | 80.28% |
| 7 | Ebay | 47.28 Bn | 43.97 Bn | 2.30 Bn | 21.57% |
| 8 | Coupang | 29.61 Bn | 23.50 Bn | 2.49 Bn | -6.28% |
| 9 | Zkh | 16.42 Bn | 16.42 Bn | 51.11 Mn | -1.06% |
| 10 | ThredUp | 406.44 Mn | 354.01 Mn | 72.52 Mn | -6.73% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | -6.73% |
| Mar 31, 2026 | -8.07% |
| Dec 31, 2025 | -8.38% |
| Sep 30, 2025 | -5.34% |
| Jun 30, 2025 | -6.75% |
| Mar 31, 2025 | -7.62% |
| Dec 31, 2024 | -12.12% |
| Sep 30, 2024 | -17.01% |
| Jun 30, 2024 | -14.40% |
| Mar 31, 2024 | -19.21% |
| Dec 31, 2023 | 22.88% |
| Sep 30, 2023 | -22.17% |
| Jun 30, 2023 | -22.64% |
| Mar 31, 2023 | -26.58% |
| Dec 31, 2022 | -22.98% |
| Sep 30, 2022 | -35.60% |
| Jun 30, 2022 | -37.07% |
| Mar 31, 2022 | -28.30% |
| Dec 31, 2021 | -25.14% |
| Sep 30, 2021 | -24.49% |