What is Yelp's operating margin?

Yelp (YELP) reported operating margin of 12.4% in Q1 2026.

How has Yelp's operating margin changed year-over-year?

Yelp's operating margin increased by 5.5% year-over-year, from 11.8% to 12.4%.

What is the long-term trend for Yelp's operating margin?

Over 4 years (2021 to 2025), Yelp's operating margin has grown at a 42.5% compound annual growth rate (CAGR), from 3.1% to 12.6%.

What does operating margin mean?

Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.

Yelp YELP Operating margin

Operating margin at other companies

Meta Platforms, Inc.META

41.2%-1.7pp

Nextdoor Holdings, Inc.NXDR

-22.7%-7.6pp

RedditRDDT

25.1%+23.8pp

CarGurus, Inc.CARG

25.4%+3.4pp

Booking Holdings Inc.BKNG

32.6%+0.1pp

Alphabet Inc.GOOGL

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Other financials

Income statement

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Revenue$361.5M+0.8%

Gross profit$323.0M-0.2%

Operating income$27.3M-7.3%

Net income$17.7M-27.3%

EPS (diluted)$0.30-16.7%

Balance sheet

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Cash & equivalents$110.4M-0.6%

Total debt$24.9M-25.6%

Total equity$631.1M-13.3%

Total assets$1.0B+2.9%

Cash flow

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Operating cash flow$57.8M-41.0%

CapEx$12.7M+20.2%

Free cash flow$45.2M-48.4%

Valuation

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Market cap$1.28B-41.6%

Enterprise value$1.2B-43.5%

P/E9.3×-6.1×

P/S0.9×-0.7×

Profitability

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Gross margin90%-0.8pp

Net margin9.5%-0.5pp

FCF margin19.2%+0.4pp

Returns & leverage

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Return on equity20.4%+0.7pp

Debt / equity0×0.0×

Current ratio1.7×-1.2×

Where this comes from

Calculated from Yelp’s reported figures.

operating income/total revenue=12.4%

Based on trailing twelve months.

The official record: Yelp’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Yelp's operating margin?: Yelp (YELP) reported operating margin of 12.4% in Q1 2026.
How has Yelp's operating margin changed year-over-year?: Yelp's operating margin increased by 5.5% year-over-year, from 11.8% to 12.4%.
What is the long-term trend for Yelp's operating margin?: Over 4 years (2021 to 2025), Yelp's operating margin has grown at a 42.5% compound annual growth rate (CAGR), from 3.1% to 12.6%.
What does operating margin mean?: Operating income as a percentage of revenue (trailing twelve months). Captures profitability from core operations after both cost of revenue and operating expenses, but before interest and taxes.