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HubSpot HUBS Operating margin

Operating margin at other companies

Microsoft logo
MicrosoftMSFT
46.8%+1.6pp
Adobe logo
AdobeADBE
36.1%-0.3pp
Salesforce logo
SalesforceCRM
20.4%+1.1pp
Manhattan Associates logo
Manhattan AssociatesMANH
25.6%+0.2pp
Accenture logo
AccentureACN
14.5%-0.9pp
SS&C Technologies logo
SS&C TechnologiesSSNC
23.1%+0.1pp

Other financials

Income statement

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Revenue$881.0M+23.4%
Gross profit$735.3M+22.7%
Operating income$27.9M+202%
Net income$32.6M+249%
EPS (diluted)$0.62+248%

Balance sheet

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Cash & equivalents$943.9M+51.0%
Total debt$247.3M-13.6%
Total equity$2.0B-0.4%
Total assets$3.8B-1.7%

Cash flow

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Operating cash flow$198.8M+23.1%
CapEx$15.4M+15.6%
Free cash flow$183.4M+23.7%

Valuation

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Market cap$9.01B-56.8%
Enterprise value$8.31B-58.7%
P/E89.9×
P/S2.7×-4.9×

Profitability

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Gross margin83.7%-1.2pp
Net margin3%+2.5pp
FCF margin22.5%+0.9pp

Returns & leverage

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Return on equity5%+4.1pp
Debt / equity0.1×0.0×
Current ratio1.6×0.0×

Where this comes from

Calculated from HubSpot’s reported figures.

Based on trailing twelve months.

The official record: HubSpot’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is HubSpot's operating margin?
HubSpot (HUBS) reported operating margin of 1.9% in Q1 2026.
How has HubSpot's operating margin changed year-over-year?
HubSpot's operating margin increased by 172.2% year-over-year, from -2.6% to 1.9%.
What is the long-term trend for HubSpot's operating margin?
Over 5 years (2020 to 2025), HubSpot's operating margin has grown at a -47.2% compound annual growth rate (CAGR), from -5.8% to 0.2%.
What does operating margin mean?
The profit left from core operations for every dollar of sales, before interest and taxes.
How do you interpret operating margin?
Expanding operating margin shows operating leverage — revenue growing faster than the cost base. Compression points to rising overhead, pricing pressure, or investment ahead of revenue.
How does operating margin compare across companies?
Strong cross-company signal within a sector. Capital-light businesses sustain higher operating margins than capital-intensive ones.