Yatsen Holding (YSG) Operating Expenses (2019 - 2025)
Yatsen Holding (YSG) posted quarterly Operating Expenses of -$155.0 million for Q4 2025, up 11.85% year-over-year from -$138.6 million in Q4 2024, and down 27.72% quarter-over-quarter from -$121.4 million in Q3 2025.
Yatsen Holding (YSG) Operating Expenses (2019 - 2025) Analysis & Trends
Yatsen Holding's Operating Expenses history runs 7 years deep, the most recent figure standing at -$155.0 million for Q4 2025.
- In Q4 2025, Operating Expenses rose 11.85% year-over-year to -$155.0 million; the TTM figure through Dec 2025 stood at -$498.4 million (down 4.53% YoY), while the FY2025 annual figure was $507.2 million, up 7.56% from the prior year.
- Operating Expenses for Q4 2025 stood at -$155.0 million, down from -$121.4 million in the prior quarter.
- The five-year high for Operating Expenses was -$83.9 million in Q1 2023, with the low at -$234.6 million in Q4 2021.
- The 5-year median for Operating Expenses is -$123.9 million (2025), against an average of -$141.1 million.
- The sharpest annual moves came in 2021 and 2022: Operating Expenses plunged 77.66% in 2021, then jumped 50.99% in 2022.
- Yatsen Holding's Operating Expenses stood at -$234.6 million in 2021, then surged by 50.99% to -$115.0 million in 2022, then plunged by 62.93% to -$187.3 million in 2023, then climbed by 6.11% to -$175.9 million in 2024, then increased by 11.85% to -$155.0 million in 2025.
- Business Quant data shows YSG's Operating Expenses at -$155.0 million in Q4 2025, -$121.4 million in Q3 2025, and -$126.5 million in Q2 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Procter & Gamble | 334.68 Bn | 324.73 Bn | 10.28 Bn | 6.33 Bn |
| 2 | Unilever | 135.06 Bn | 122.54 Bn | - | - |
| 3 | Colgate Palmolive | 73.11 Bn | 71.74 Bn | 3.30 Bn | 2.13 Bn |
| 4 | Kenvue | 36.14 Bn | 35.03 Bn | 2.30 Bn | 1.60 Bn |
| 5 | Kimberly Clark | 35.84 Bn | 34.89 Bn | 1.60 Bn | - |
| 6 | Estee Lauder Companies | 30.63 Bn | 27.51 Bn | 2.84 Bn | 2.59 Bn |
| 7 | Church & Dwight | 23.49 Bn | 23.23 Bn | 693.90 Mn | 252.20 Mn |
| 8 | Clorox | 12.90 Bn | 12.75 Bn | 804.00 Mn | 330.00 Mn |
| 9 | Yatsen Holding | 5.79 Bn | 5.65 Bn | 153.20 Mn | -155.01 Mn |
| 10 | e.l.f. Beauty | 5.48 Bn | 5.13 Bn | 398.84 Mn | 280.32 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -155.01 Mn |
| Sep 30, 2025 | -121.37 Mn |
| Jun 30, 2025 | -126.46 Mn |
| Mar 31, 2025 | -95.52 Mn |
| Dec 31, 2024 | -175.86 Mn |
| Sep 30, 2024 | -93.36 Mn |
| Jun 30, 2024 | -102.46 Mn |
| Mar 31, 2024 | -105.07 Mn |
| Dec 31, 2023 | -187.30 Mn |
| Sep 30, 2023 | -102.02 Mn |
| Jun 30, 2023 | -107.11 Mn |
| Mar 31, 2023 | -83.86 Mn |
| Dec 31, 2022 | -114.95 Mn |
| Sep 30, 2022 | -120.47 Mn |
| Jun 30, 2022 | -130.68 Mn |
| Mar 31, 2022 | -145.53 Mn |
| Dec 31, 2021 | -234.57 Mn |
| Sep 30, 2021 | -198.83 Mn |
| Jun 30, 2021 | -218.73 Mn |
| Mar 31, 2021 | -203.74 Mn |