Zkh (ZKH) Operating Margin (2022 - 2026)

Zkh (ZKH) has 5 years of Operating Margin data on file, last reported at 1.06% in Q1 2026.

• Quarterly Operating Margin rose 311.0% year-over-year to 1.06% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 1.68% (up 161.0% YoY) and the FY2025 annual result came in at 2.37%, up 149.0% from the prior year.
• Operating Margin grew to 1.06% in Q1 2026, from 1.1% in the prior quarter.
• In the past five years, Operating Margin ranged from a high of 0.28% in Q4 2023 to a low of 7.6% in Q1 2023.
• A 5-year average of 3.59% and a median of 3.63% in 2025 frame the typical range for Operating Margin.
• Annual changes were most pronounced in 2023 — Operating Margin surged 366 bps — and 2024, when it slumped 110 bps.
• Tracing ZKH's Operating Margin over 5 years: stood at 3.94% in 2022, then jumped by 93 bps to 0.28% in 2023, then tumbled by 395 bps to 1.38% in 2024, then grew by 20 bps to 1.1% in 2025, then rose by 4 bps to 1.06% in 2026.
• The last three Operating Margin figures came in at 1.06% (Q1 2026), 1.1% (Q4 2025), and 1.39% (Q3 2025), per Business Quant data.