Waterdrop (WDH) Net Margin (2020 - 2026)
Waterdrop's Net Margin was 5.83% in Q2 2026, down 4.69 percentage points from 10.52% a year earlier but up 1.15 percentage points from the prior quarter.
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Analysis
Waterdrop (WDH) Net Margin (2020 - 2026) Analysis & Trends
On a trailing twelve-month basis, Waterdrop's Net Margin was 7.74% through Jun 30, 2026, down 2.08 percentage points year-over-year; for FY2025, it came in at 11.39%, down 1.47 percentage points from FY2024.
- Net Margin shows a five-year change of +47.97 percentage points (FY2020 to FY2025).
- In earlier years, Net Margin was 12.86% in FY2024 (+6.61 pp), 6.25% in FY2023 (-15.44 pp), 21.69% in FY2022 (+75.54 pp) and -53.85% in FY2021 (-17.26 pp).
- Quarterly Net Margin has moved between -61.21% (Q3 2021) and 29.50% (Q2 2022) over five years.
- Compared with a year earlier, Net Margin has declined for three straight quarters, with an average year-over-year change of +0.13 percentage points over the last eight quarters.
- The best year-over-year quarter for Net Margin over five years was Q2 2022 (a gain of 103.78 percentage points); the worst was Q3 2021 (a drop of 54.34 percentage points).
- Per Business Quant data, WDH's Net Margin in the three quarters before Q2 2026 was 4.68% (Q1 2026), 7.11% (Q4 2025) and 15.67% (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Chubb | 140.65 Bn | 87.23 Bn | 9.13 Bn | 18.05% |
| 2 | Progressive | 133.70 Bn | 109.53 Bn | 9.04 Bn | 14.02% |
| 3 | Marsh & Mclennan Companies | 94.75 Bn | 86.91 Bn | - | 11.77% |
| 4 | Travelers Companies | 85.38 Bn | 61.63 Bn | 6.23 Bn | 18.17% |
| 5 | Manulife Financial | 77.63 Bn | -17.25 Bn | - | 10.52% |
| 6 | Arthur J. Gallagher | 69.27 Bn | 63.67 Bn | - | 8.09% |
| 7 | Metlife | 66.42 Bn | -40.36 Bn | 7.82 Bn | 3.68% |
| 8 | Allstate | 66.13 Bn | 27.40 Bn | 8.73 Bn | 17.43% |
| 9 | Aon | 65.25 Bn | 58.47 Bn | - | 12.98% |
| 10 | Waterdrop | 361.53 Mn | -300.08 Mn | - | 5.86% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 5.86% |
| Mar 31, 2026 | 4.65% |
| Dec 31, 2025 | 7.01% |
| Sep 30, 2025 | 16.25% |
| Jun 30, 2025 | 10.42% |
| Mar 31, 2025 | 14.83% |
| Dec 31, 2024 | 22.39% |
| Sep 30, 2024 | 1.68% |
| Jun 30, 2024 | 15.05% |
| Mar 31, 2024 | 15.01% |
| Dec 31, 2023 | 2.47% |
| Sep 30, 2023 | 5.35% |
| Jun 30, 2023 | 3.20% |
| Mar 31, 2023 | 8.20% |
| Dec 31, 2022 | 18.57% |
| Sep 30, 2022 | 21.97% |
| Jun 30, 2022 | 29.50% |
| Mar 31, 2022 | 16.18% |
| Dec 31, 2021 | -62.02% |
| Sep 30, 2021 | -61.21% |
API Access
Waterdrop Net Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=net-margin&ticker=WDH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-margin", "ticker": "WDH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=net-margin&ticker=WDH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();