Innovate (VATE) Operating Margin (2010 - 2025)
Innovate (VATE) recorded quarterly Operating Margin of 3.74% in Q4 2025, up 112.62% quarter-over-quarter from 1.76% in Q3 2025, and up 268.0% on a YoY basis from 1.02% in Q4 2024.
Innovate (VATE) Operating Margin (2010 - 2025) Analysis & Trends
Innovate's Operating Margin history runs 16 years deep, the most recent figure standing at 3.74% for Q4 2025.
- In Q4 2025, Operating Margin rose 268.0% year-over-year to 3.74%; the TTM figure through Dec 2025 stood at 2.3% (down 131.0% YoY), while the FY2025 annual figure was 2.3%, down 131.0% from the prior year.
- Operating Margin was 3.74% for Q4 2025 at Innovate, up from 1.76% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 9.2% in Q2 2024 to a low of 6.34% in Q1 2021.
- Historically, Operating Margin has averaged 1.26% across 5 years, with a median of 1.57% in 2022.
- The sharpest annual moves came in 2021 and 2025: Operating Margin surged 972 bps in 2021, then plunged 717 bps in 2025.
- A 5-year view of Operating Margin shows it stood at 1.75% in 2021, then retreated by 9 bps to 1.59% in 2022, then jumped by 144 bps to 3.88% in 2023, then plunged by 73 bps to 1.06% in 2024, then soared by 254 bps to 3.74% in 2025.
- The last three Operating Margin figures came in at 3.74% (Q4 2025), 1.76% (Q3 2025), and 2.02% (Q2 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Quanta Services | 103.56 Bn | 103.29 Bn | 1.11 Bn | 4.30% |
| 2 | Comfort Systems Usa | 64.33 Bn | 63.28 Bn | 754.41 Mn | 16.95% |
| 3 | Emcor | 36.81 Bn | 35.90 Bn | 863.95 Mn | 8.73% |
| 4 | Mastec | 27.54 Bn | 27.38 Bn | 477.90 Mn | 3.70% |
| 5 | Sterling Infrastructure | 25.78 Bn | 25.28 Bn | 194.30 Mn | 16.69% |
| 6 | APi | 18.83 Bn | 18.18 Bn | 620.00 Mn | 5.20% |
| 7 | Jacobs Solutions | 14.81 Bn | 13.43 Bn | 794.89 Mn | -2.20% |
| 8 | IES Holdings | 14.35 Bn | 14.09 Bn | 254.79 Mn | 11.52% |
| 9 | Dycom Industries | 13.61 Bn | 12.90 Bn | - | - |
| 10 | Innovate | 231.31 Mn | 133.11 Mn | 58.90 Mn | 3.74% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 3.74% |
| Sep 30, 2025 | 1.76% |
| Jun 30, 2025 | 2.02% |
| Mar 31, 2025 | 1.24% |
| Dec 31, 2024 | 1.06% |
| Sep 30, 2024 | 2.44% |
| Jun 30, 2024 | 9.20% |
| Mar 31, 2024 | 0.89% |
| Dec 31, 2023 | 3.88% |
| Sep 30, 2023 | 2.85% |
| Jun 30, 2023 | 1.57% |
| Mar 31, 2023 | -1.26% |
| Dec 31, 2022 | 1.59% |
| Sep 30, 2022 | 1.56% |
| Jun 30, 2022 | -0.10% |
| Mar 31, 2022 | 0.17% |
| Dec 31, 2021 | 1.75% |
| Sep 30, 2021 | 0.28% |
| Jun 30, 2021 | -3.16% |
| Mar 31, 2021 | -6.34% |