While revenue growth reached 12.3% in 2026Q3, operating margins remain compressed at 5.9%, significantly trailing the 11.7% peak observed in 2024Q2.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Jun'07 | Jun'06 | Jun'05 | Jun'04 | Jun'03 |
|---|
| Sales/Revenue | 3.66B | 3.4B | 3.29B | 3.08B | 2.89B | 2.58B | 2.48B | 2.75B | 2.59B | 2.14B | 1.79B | 1.49B | 1.27B | 1.17B | 1.02B | 817.01M | 670.03M | 515.83M | 400.66M | 255.93M | 152.15M | 90.89M | 58.78M | 35.43M |
| Revenue Growth % | 8.76% | 3.38% | 6.89% | 6.65% | 12.1% | 3.81% | -9.8% | 6.12% | 21.41% | 19.43% | 19.67% | 17.63% | 8.8% | 14.43% | 24.88% | 21.94% | 29.9% | 28.74% | 56.55% | 68.21% | 67.41% | 54.61% | 65.91% | - |
| Cost of Goods Sold | 1.95B | 1.79B | 1.7B | 1.64B | 1.49B | 1.3B | 1.25B | 1.4B | 1.28B | 1.04B | 762.66M | 568.57M | 451.09M | 400.29M | 355.2M | 287.81M | 240.19M | 191.94M | 154.12M | 89.97M | 49.86M | 36.53M | 23.84M | 15.02M |
| COGS % of Revenue | - | 52.47% | 51.49% | 53.27% | 51.7% | 50.46% | 50.33% | 50.94% | 49.36% | 48.51% | 42.65% | 38.05% | 35.51% | 34.29% | 34.81% | 35.23% | 35.85% | 37.21% | 38.47% | 35.15% | 32.77% | 40.19% | 40.55% | 42.4% |
| Gross Profit | 1.71B | 1.62B | 1.6B | 1.44B | 1.39B | 1.28B | 1.23B | 1.35B | 1.31B | 1.1B | 1.03B | 925.63M | 819.14M | 767.18M | 665.06M | 529.2M | 429.84M | 323.88M | 246.53M | 165.96M | 102.29M | 54.36M | 34.95M | 20.41M |
| Gross Margin % | 46.78% | 47.53% | 48.51% | 46.73% | 48.3% | 49.54% | 49.67% | 49.06% | 50.64% | 51.49% | 57.35% | 61.95% | 64.49% | 65.71% | 65.19% | 64.77% | 64.15% | 62.79% | 61.53% | 64.85% | 67.23% | 59.81% | 59.45% | 57.6% |
| Gross Profit Growth % | - | 1.29% | 10.97% | 3.17% | 9.31% | 3.54% | -8.69% | 2.82% | 19.39% | 7.23% | 10.78% | 13% | 6.77% | 15.36% | 25.67% | 23.12% | 32.71% | 31.37% | 48.55% | 62.24% | 88.18% | 55.54% | 71.25% | - |
| Operating Expenses | 1.46B | 1.39B | 1.35B | 1.38B | 1.35B | 1.15B | 1.18B | 1.19B | 1.15B | 1.15B | 947.19M | 829.31M | 733.23M | 723.03M | 609.89M | 436.12M | 352.99M | 262.3M | 205.38M | 138.76M | 83.43M | 70.02M | 31.62M | 19.28M |
| OpEx % of Revenue | - | 40.88% | 40.99% | 44.87% | 46.67% | 44.74% | 47.41% | 43.11% | 44.55% | 53.63% | 52.97% | 55.5% | 57.72% | 61.93% | 59.78% | 53.38% | 52.68% | 50.85% | 51.26% | 54.22% | 54.83% | 77.05% | 53.79% | 54.42% |
| Selling, General & Admin | 1.09B | 1.03B | 995.61M | 983.22M | 985.7M | 822.98M | 757.1M | 876.51M | 891.61M | 776.11M | 651.1M | 597.61M | 549.77M | 556.79M | 480.73M | 342.5M | 274.61M | 201.38M | 160.55M | 111.58M | 67.8M | 38.19M | 23.11M | 14.39M |
| SG&A % of Revenue | - | 30.34% | 30.24% | 31.93% | 34.14% | 31.95% | 30.51% | 31.86% | 34.39% | 36.34% | 36.41% | 40% | 43.28% | 47.69% | 47.12% | 41.92% | 40.98% | 39.04% | 40.07% | 43.6% | 44.56% | 42.01% | 39.31% | 40.6% |
| Research & Development | 347.04M | 334.04M | 321.97M | 302.26M | 292.85M | 253.06M | 253.25M | 236.8M | 245.76M | 243.23M | 210.08M | 186.77M | 176.34M | 164.86M | 129.16M | 93.63M | 78.39M | 60.92M | 44.83M | 27.18M | 15.63M | 10.84M | 8.52M | 4.9M |
| R&D % of Revenue | - | 9.82% | 9.78% | 9.81% | 10.14% | 9.82% | 10.21% | 8.61% | 9.48% | 11.39% | 11.75% | 12.5% | 13.88% | 14.12% | 12.66% | 11.46% | 11.7% | 11.81% | 11.19% | 10.62% | 10.27% | 11.93% | 14.49% | 13.82% |
| Other Operating Expenses | 4M | 24.59M | 31.87M | 96.22M | 68.99M | 76.52M | 166.17M | 72.81M | 17.57M | 125.91M | 86.01M | 44.93M | 7.12M | 0 | 2.35M | -2.2M | -1.49M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | 256.09M | 226.27M | 247.35M | 57.31M | 47.3M | 123.51M | 55.97M | 163.61M | 157.8M | -45.7M | 78.19M | 96.32M | 85.91M | 45.54M | 55.17M | 93.08M | 76.85M | 61.58M | 41.16M | 27.2M | 18.86M | -15.67M | 3.33M | 1.12M |
| Operating Margin % | 6.99% | 6.65% | 7.51% | 1.86% | 1.64% | 4.79% | 2.26% | 5.95% | 6.09% | -2.14% | 4.37% | 6.45% | 6.76% | 3.9% | 5.41% | 11.39% | 11.47% | 11.94% | 10.27% | 10.63% | 12.4% | -17.24% | 5.66% | 3.17% |
| Operating Income Growth % | - | -8.52% | 331.61% | 21.17% | -61.71% | 120.68% | -65.79% | 3.68% | 445.28% | -158.45% | -18.82% | 12.12% | 88.67% | -17.47% | -40.72% | 21.12% | 24.79% | 49.62% | 51.3% | 44.21% | 220.41% | -571.05% | 195.91% | - |
| EBITDA | 402.81M | 367.4M | 399.12M | 219.74M | 222.98M | 296.72M | 223.91M | 337.38M | 326.81M | 112.7M | 210.11M | 193.82M | 158.2M | 109.86M | 114.6M | 143.71M | 121.22M | 97.3M | 66.35M | 42.08M | 26.65M | -9.77M | 7.54M | 3.23M |
| EBITDA Margin % | 11% | 10.8% | 12.12% | 7.14% | 7.72% | 11.52% | 9.02% | 12.26% | 12.61% | 5.28% | 11.75% | 12.97% | 12.45% | 9.41% | 11.23% | 17.59% | 18.09% | 18.86% | 16.56% | 16.44% | 17.52% | -10.74% | 12.82% | 9.11% |
| EBITDA Growth % | 9.49% | -7.95% | 81.63% | -1.45% | -24.85% | 32.52% | -33.63% | 3.24% | 189.98% | -46.36% | 8.4% | 22.52% | 44% | -4.14% | -20.25% | 18.56% | 24.59% | 46.63% | 57.69% | 57.89% | 372.92% | -229.6% | 133.5% | - |
| D&A (Non-Cash Add-back) | 146.72M | 141.13M | 151.76M | 162.43M | 175.68M | 173.21M | 167.94M | 173.77M | 169M | 158.4M | 131.92M | 97.5M | 72.28M | 64.33M | 59.43M | 50.63M | 44.37M | 35.71M | 25.19M | 14.87M | 7.79M | 5.9M | 4.21M | 2.1M |
| EBIT | 235.11M | 212.19M | 248.27M | 82.57M | 108.76M | 55.81M | 78.84M | 190.08M | 119.41M | -35.34M | 104.29M | 116.46M | 64.28M | 46.06M | 57.52M | 90.88M | 75.8M | 62.5M | 41.16M | 27.2M | 18.86M | -15.67M | 3.33M | 1.12M |
| Net Interest Income | -108.12M | -115.23M | -119.82M | -112.79M | -99.43M | -119.37M | -75.84M | -63.17M | -53.04M | -43.98M | -38.2M | -16.7M | -7.67M | -5.33M | -1.68M | 239K | -343K | 324K | 2.5M | 2.86M | 0 | 0 | 0 | 0 |
| Interest Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 192K | 435K | 441K | 1.73M | 4.16M | 4.69M | 0 | 0 | 0 | 0 |
| Interest Expense | 108.12M | 115.23M | 119.82M | 112.79M | 99.43M | 119.37M | 75.84M | 63.17M | 53.04M | 43.98M | 38.2M | 16.7M | 7.67M | 5.33M | 1.87M | 196K | 784K | 1.4M | 1.66M | 1.83M | 1.26M | 0 | 0 | 0 |
| Other Income/Expense | -129.1M | -129.31M | -118.91M | -87.53M | -37.97M | -187.06M | -52.97M | -36.7M | -91.43M | -33.62M | -12.1M | 3.43M | -32.01M | -6.71M | 671K | -1.96M | -1.83M | -479K | 2.93M | 2.82M | 1.15M | -468K | -36K | 96K |
| Pretax Income | 127M | 96.96M | 128.45M | -30.22M | 9.33M | -63.55M | 3M | 126.91M | 66.37M | -79.32M | 66.09M | 99.75M | 53.91M | 38.82M | 55.84M | 91.12M | 75.01M | 61.1M | 44.09M | 30.02M | 20.02M | -16.14M | 3.29M | 1.22M |
| Pretax Margin % | 3.47% | 2.85% | 3.9% | -0.98% | 0.32% | -2.47% | 0.12% | 4.61% | 2.56% | -3.71% | 3.7% | 6.68% | 4.24% | 3.33% | 5.47% | 11.15% | 11.2% | 11.85% | 11% | 11.73% | 13.16% | -17.75% | 5.6% | 3.44% |
| Income Tax | 84.7M | 84.11M | -49.36M | 155.49M | 59.9M | 18.9M | -80.99M | 33.43M | 19.58M | -7.12M | 15.68M | 10.44M | 10.59M | 9.39M | 11.85M | 9.01M | 7.27M | 5.42M | 4.26M | 2.88M | 783K | 84K | -150K | 747K |
| Effective Tax Rate % | 66.7% | 86.74% | -38.43% | -514.5% | 641.96% | -29.74% | -2697.04% | 26.34% | 29.5% | 8.97% | 23.73% | 10.47% | 19.65% | 24.18% | 21.22% | 9.89% | 9.7% | 8.87% | 9.66% | 9.59% | 3.91% | -0.52% | -4.56% | 61.23% |
| Net Income | 45.5M | 14.95M | 173.68M | -185.98M | -54.33M | -85.23M | 83.36M | 95.05M | 43.73M | -71.71M | 54.35M | 92.21M | 43.7M | 29.43M | 43.99M | 82.11M | 67.74M | 55.69M | 39.83M | 27.14M | 19.23M | -16.22M | 3.44M | 473K |
| Net Margin % | 1.24% | 0.44% | 5.28% | -6.04% | -1.88% | -3.31% | 3.36% | 3.46% | 1.69% | -3.36% | 3.04% | 6.17% | 3.44% | 2.52% | 4.31% | 10.05% | 10.11% | 10.8% | 9.94% | 10.61% | 12.64% | -17.85% | 5.85% | 1.33% |
| Net Income Growth % | -70.7% | -91.39% | 193.39% | -242.31% | 36.25% | -202.24% | -12.3% | 117.35% | 160.99% | -231.95% | -41.06% | 111.03% | 48.45% | -33.09% | -46.42% | 21.21% | 21.65% | 39.81% | 46.74% | 41.11% | 218.6% | -571.48% | 627.27% | - |
| Net Income (Continuing) | 42.29M | 12.85M | 177.81M | -185.72M | -50.57M | -82.46M | 84M | 93.48M | 46.79M | -72.2M | 50.41M | 89.31M | 43.32M | 0 | 43.99M | 82.11M | 67.74M | 55.69M | 39.83M | 27.14M | 19.23M | -16.22M | 3.44M | 473K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 70.2M | 20.04M | 33.24M | 11.35M | 131.48M | 71.12M | 69.11M | 63.18M | 86.44M | 45.63M | 65.65M | 58.25M | 11.16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 1.81 | 0.58 | 6.43 | -7.08 | -2.08 | -3.28 | 3.00 | 3.00 | 1.36 | -2.29 | 1.64 | 2.73 | 1.28 | 0.85 | 1.13 | 1.83 | 1.49 | 1.25 | 0.87 | 0.60 | 0.45 | -1.43 | 0.03 | 0.04 |
| EPS Growth % | -69.62% | -90.98% | 190.82% | -240.38% | 36.59% | -209.33% | 0% | 120.59% | 159.39% | -239.63% | -39.93% | 113.28% | 50.59% | -24.78% | -38.25% | 22.82% | 19.2% | 43.68% | 45% | 33.33% | 131.47% | -4866.67% | -22.68% | - |
| EPS (Basic) | - | 0.60 | 6.64 | -7.08 | -2.08 | -3.28 | 3.07 | 3.09 | 1.41 | -2.29 | 1.72 | 2.82 | 1.33 | 0.89 | 1.16 | 1.89 | 1.56 | 1.29 | 0.91 | 0.64 | 0.51 | -1.43 | 0.03 | 0.04 |
| Diluted Shares Outstanding | 25.19M | 25.64M | 27M | 26.25M | 26.09M | 26M | 27.77M | 31.66M | 32.22M | 31.29M | 33.05M | 33.82M | 34.24M | 34.47M | 38.95M | 44.95M | 45.34M | 44.63M | 46.02M | 45.36M | 42.62M | 11.36M | 12.54M | 12.18M |
| Basic Shares Outstanding | 24.26M | 25.78M | 27.01M | 26.25M | 26.09M | 26M | 27.79M | 31.68M | 32.16M | 31.29M | 33.14M | 33.78M | 34.14M | 34.63M | 37.81M | 43.43M | 43.37M | 43.33M | 43.91M | 42.45M | 33.15M | 11.36M | 11.01M | 11.61M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | 0.13% | - | - | - | - | - | - | - | - | - | - | - | - |
Thin operating margin volatility
According to the most recent quarterly filings, Cimpress achieved a 12.3% year-over-year revenue growth rate in 2026Q3, marking a notable acceleration from the 1.1% growth observed in 2025Q3 and suggesting that the company's strategic pivot toward a broader marketing services platform is gaining traction with its core customer base.
The recent uptick in top-line performance indicates that the company's integration of design-focused acquisitions is successfully driving higher transaction volumes. Investors should monitor whether this growth is sustainable or merely a reflection of seasonal promotional activity, as the company's historical revenue patterns remain sensitive to cyclical marketing spend.
As reported in financial statements, the company's gross margin has compressed from 49.7% in 2024Q2 to 46.2% in 2026Q3, reflecting the ongoing challenge of maintaining pricing power while navigating inflationary pressures on raw materials and shipping costs within its high-volume, mass-customization manufacturing model.
The inability to consistently expand gross margins despite revenue growth suggests that the company's manufacturing efficiencies are being offset by rising input costs. This trend warrants further investigation into whether the Mass Customization Platform can achieve sufficient scale to decouple unit costs from broader inflationary headwinds.
Based on reported figures, operating income scaled to $52.0M in 2026Q3, yet the operating margin of 5.9% remains significantly below the 11.7% peak seen in 2024Q2, indicating that SG&A and R&D expenses are currently growing at a pace that outstrips the company's ability to drive incremental operating profit.
The lack of consistent operating leverage suggests that the company is heavily reinvesting in its technology stack and customer acquisition, which may be necessary for long-term growth but currently suppresses bottom-line profitability. Analysts should watch for a stabilization in SG&A as a percentage of revenue to confirm if the platform is reaching a mature efficiency phase.
Analysis of the income statement reveals that net income has fluctuated wildly, ranging from a $115.0M profit in 2024Q4 to a $25.3M loss in 2025Q4, largely due to non-operating items and restructuring charges that frequently obscure the underlying cash-generating capability of the core business segments.
The significant variance between net income and operating performance suggests that investors should prioritize Adjusted EBITDA or free cash flow metrics over GAAP EPS. The recurring nature of these adjustments implies that the company's earnings quality remains sensitive to management's ongoing restructuring and capital allocation decisions.
While revenue growth has accelerated, the company's TTM net margin of 0.44% highlights a precarious profitability profile, suggesting that any minor disruption in customer acquisition costs or manufacturing throughput could quickly push the firm into a sustained period of negative earnings, as evidenced by recent quarterly losses.
Short-term investors may focus on the high sensitivity of the bottom line to even modest changes in revenue, which underscores the company's limited margin of safety. The reliance on high-volume, low-margin transactions makes the business model particularly vulnerable to any sustained downturn in small business marketing budgets.
Quick answers to the most common questions about buying CMPR stock.
For fiscal year 2025, Cimpress plc (CMPR) reported total revenue of $3.40B. This represents a 9504.8% increase compared to $35.4M in 2003.
Cimpress plc (CMPR) is profitable, generating $15.0M in net income for the fiscal year ending 2025 with a net profit margin of 0.4%.
Cimpress plc (CMPR) reported an operating income of $226.3M, resulting in an operating profit margin of 6.6%. This margin reflects the operational efficiency of the business before interest and taxes.
Cimpress plc (CMPR) generated $1.62B in gross profit for the year, representing a gross profit margin of 47.5%. This demonstrates the company's core pricing power and production efficiency.