AAON Inc (AAON)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 227,494 | 126,761 | 69,253 | 101,836 | 67,011 |
| Revenue | US$ in thousands | 1,163,700 | 891,921 | 538,159 | 524,604 | 469,090 |
| Operating profit margin | 19.55% | 14.21% | 12.87% | 19.41% | 14.29% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $227,494K ÷ $1,163,700K
= 19.55%
The operating profit margin of AAON Inc. has demonstrated a fluctuating trend over the past five years. In 2023, the operating profit margin reached 19.47%, indicating an improvement from the previous year's 14.26%. This increase suggests that the company has been able to enhance its operational efficiency and control costs effectively to generate a higher level of operating profit relative to its revenue.
Comparing with 2021 and 2020, where the operating profit margins were 12.95% and 18.53% respectively, the 2023 figure represents a notable improvement over those years. The decrease in 2021 potentially reflects challenges faced by the company in maintaining profitability amidst economic uncertainties or cost pressures. The relatively higher margin in 2020 could indicate a more favorable operating environment or strategic decisions that led to exceptional profitability that year.
Looking further back to 2019, the operating profit margin was 14.35%, which is slightly lower than 2023 but still within a comparable range. This suggests that AAON Inc. has been able to sustain its profitability levels over the years, with fluctuations likely influenced by various internal and external factors.
Overall, the upward trend in the operating profit margin in 2023 indicates a positive performance for AAON Inc., showcasing its ability to efficiently manage costs and generate profits from its operations. Further analysis of the company's strategies and market conditions would provide deeper insights into the factors driving these margin changes.
Peer comparison
Dec 31, 2023