Yelp (YELP) Operating Margin (2011 - 2026)

Yelp has disclosed Operating Margin across 15 years of filings, most recently posting 7.55% for Q1 2026.

• Operating Margin for Q1 2026 came in at 7.55%, down 66.0% year-over-year; the trailing twelve-month figure through Mar 2026 was 12.42% (up 65.0% YoY), and the FY2025 annual result was 12.6%, up 190.0% from the prior year.
• Operating Margin came in at 7.55% for Q1 2026 at Yelp, down from 13.58% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 14.76% in Q4 2024 to a low of 2.11% in Q1 2023.
• The 5-year median for Operating Margin is 8.22% (2025), against an average of 8.34%.
• Across the five-year window, Operating Margin plunged 370 bps in 2022 and soared 779 bps in 2023, its largest moves.
• Yelp's Operating Margin stood at 10.8% in 2022, then sank by 32 bps to 7.31% in 2023, then jumped by 102 bps to 14.76% in 2024, then decreased by 8 bps to 13.58% in 2025, then sank by 44 bps to 7.55% in 2026.
• The last three Operating Margin figures came in at 7.55% (Q1 2026), 13.58% (Q4 2025), and 14.06% (Q3 2025), per Business Quant data.