Allete Inc (ALE)

Net profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	247,100	189,300	169,200	165,400	185,600
Revenue	US$ in thousands	1,879,800	1,570,700	1,419,200	1,169,100	1,240,500
Net profit margin		13.15%	12.05%	11.92%	14.15%	14.96%

December 31, 2023 calculation

Net profit margin = Net income ÷ Revenue
= $247,100K ÷ $1,879,800K
= 13.15%

The net profit margin of Allete, Inc. has shown fluctuations over the past five years. In 2023, the net profit margin increased to 13.15% from 12.05% in 2022. This improvement indicates that the company was able to generate more profit per dollar of revenue in 2023 compared to the previous year.

However, when compared to 2021, the net profit margin in 2023 was slightly higher. This suggests that the company maintained its profitability levels despite potential challenges or changes in the business environment.

In 2020, there was a notable decrease in the net profit margin to 14.90% from 14.96% in 2019. This decline could signal a decrease in profitability, although the margin remained relatively high, indicating that the company was still generating healthy profits.

Overall, Allete, Inc. has shown varying levels of net profit margin over the past five years, with fluctuations that reflect the company's ability to manage costs, pricing, and other factors impacting profitability.