Yelp (YELP) Operating Margin (2011 - 2026)

Yelp (YELP) posted Operating Margin of 7.55% for Q1 2026, down 44.39% sequentially from 13.58% in Q4 2025, and down 66.0% YoY from 22.21% in Q1 2025.

Yelp (YELP) Operating Margin (2011 - 2026) Analysis & Trends

Yelp has reported Operating Margin for 15 years, with the latest figure at 7.55% in Q1 2026.

Quarterly Operating Margin fell 66.0% year-over-year to 7.55% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 12.42% (up 65.0% YoY) and the FY2025 annual result came in at 12.6%, up 190.0% from the prior year.
Operating Margin fell to 7.55% in Q1 2026 per YELP's latest filing, from 13.58% in the prior quarter.
Over five years, Operating Margin peaked at 14.76% in Q4 2024 and troughed at 2.11% in Q1 2023.
A 5-year average of 8.34% and a median of 8.22% in 2025 frame the typical range for Operating Margin.
The sharpest annual moves came in 2022 and 2023: Operating Margin plunged 370 bps in 2022, then surged 779 bps in 2023.
Over 5 years, Operating Margin stood at 10.8% in 2022, then sank by 32 bps to 7.31% in 2023, then soared by 102 bps to 14.76% in 2024, then dropped by 8 bps to 13.58% in 2025, then sank by 44 bps to 7.55% in 2026.
According to Business Quant data, Operating Margin over the past three periods registered 7.55%, 13.58%, and 14.06% for Q1 2026, Q4 2025, and Q3 2025 respectively.

#	Company	Market Cap	Enterprise Value	Gross Profit (Qtr)	Operating Margin (Qtr)
1	Alphabet	4,165.61 Bn	3,736.57 Bn	73.85 Bn	34.03%
2	Meta Platforms	1,523.46 Bn	1,433.20 Bn	49.47 Bn	30.88%
3	Taboola.com	1,141.85 Bn	1,141.71 Bn	139.48 Mn	1.52%
4	Baidu	288.34 Bn	283.85 Bn	1.88 Mn	10.65%
5	Spotify Technology	103.44 Bn	93.20 Bn	1.75 Bn	23.32%
6	Joyy	77.39 Bn	76.50 Bn	205.64 Mn	3.14%
7	BILI Social International	60.58 Bn	60.58 Bn	405,933.00	18.99%
8	Nebius	50.20 Bn	40.57 Bn	295.20 Mn	-32.08%
9	Reddit	30.00 Bn	27.22 Bn	734.60 Mn	28.79%
10	Yelp	1.31 Bn	1.21 Bn	333.74 Mn	11.65%

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