Zkh (ZKH) Operating Margin (2022 - 2026)
Zkh's Operating Margin was 0.16% in the quarter ended Jun 30, 2026, up 3.48 percentage points from -3.32% a year earlier and up 1.23 percentage points from the prior quarter.
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Analysis
Zkh (ZKH) Operating Margin (2022 - 2026) Analysis & Trends
On a trailing twelve-month basis, Zkh's Operating Margin was -0.83% through Jun 30, 2026, up 2.51 percentage points year-over-year; for the year ended Dec 31, 2025, it was -2.37%, up 1.49 percentage points from the prior year.
- Operating Margin has now increased for four consecutive years, with a four-year change of +12.13 percentage points (years ended Dec 2021 to Dec 2025).
- In earlier years, Operating Margin was -3.87% in the year ended Dec 31, 2024 (+0.71 pp), -4.57% in the year ended Dec 31, 2023 (+3.67 pp), -8.25% in the year ended Dec 31, 2022 (+6.26 pp) and -14.51% in the year ended Dec 31, 2021.
- The figure for the quarter ended Jun 30, 2026 marks the highest quarterly Operating Margin in data going back to the quarter ended Dec 31, 2022.
- Compared with a year earlier, Operating Margin has increased for four straight quarters, with an average year-over-year change of +1.55 percentage points over the last eight quarters.
- The best year-over-year quarter for Operating Margin over five years was the quarter ended Dec 31, 2023 (a gain of 3.66 percentage points); the worst was the quarter ended Dec 31, 2024 (a drop of 1.10 percentage points).
- Per Business Quant data, ZKH's Operating Margin in the three quarters before the quarter ended Jun 30, 2026 was -1.06% (quarter ended Mar 31, 2026), -1.10% (quarter ended Dec 31, 2025) and -1.39% (quarter ended Sep 30, 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,071.44 Bn | 3,828.96 Bn | 73.85 Bn | 34.03% |
| 2 | Meta Platforms | 1,777.07 Bn | 1,479.59 Bn | 49.47 Bn | 30.88% |
| 3 | Netflix | 272.74 Bn | 232.94 Bn | 6.52 Bn | 33.38% |
| 4 | Alibaba Group Holding | 242.17 Bn | 55.95 Bn | 15.11 Bn | 5.64% |
| 5 | Shopify | 225.98 Bn | 203.16 Bn | 1.71 Bn | 13.62% |
| 6 | Uber Technologies | 137.80 Bn | 109.60 Bn | 6.38 Bn | 13.32% |
| 7 | Booking Holdings | 121.57 Bn | 54.62 Bn | - | 34.00% |
| 8 | PDD Holdings | 110.14 Bn | -133.64 Bn | 9.45 Bn | 24.71% |
| 9 | Spotify Technology | 107.49 Bn | 64.99 Bn | 1.86 Bn | 13.71% |
| 10 | Zkh | 285.93 Mn | -734.19 Mn | 63.09 Mn | 0.16% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.16% |
| Mar 31, 2026 | -1.06% |
| Dec 31, 2025 | -1.10% |
| Sep 30, 2025 | -1.39% |
| Jun 30, 2025 | -3.32% |
| Mar 31, 2025 | -4.18% |
| Dec 31, 2024 | -1.37% |
| Sep 30, 2024 | -4.62% |
| Jun 30, 2024 | -3.17% |
| Mar 31, 2024 | -6.97% |
| Dec 31, 2023 | -0.28% |
| Sep 30, 2023 | -5.36% |
| Jun 30, 2023 | -5.94% |
| Mar 31, 2023 | -7.60% |
| Dec 31, 2022 | -3.94% |
API Access
Zkh Operating 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=operating-margin&ticker=ZKH&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "ZKH", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=ZKH&period=max&api_key=YOUR_API_KEY");
const data = await res.json();