Balchem Corporation (BCPC)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	159,193	145,186	127,502	111,147	102,553
Revenue	US$ in thousands	922,439	942,358	799,023	703,644	643,705
Operating profit margin		17.26%	15.41%	15.96%	15.80%	15.93%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $159,193K ÷ $922,439K
= 17.26%

Balchem Corp.'s operating profit margin has shown a fluctuating trend over the past five years. In 2023, the operating profit margin reached 17.26%, marking an improvement from the previous year. This indicates that the company was able to generate more profit from its core business operations relative to its revenue.

While the operating profit margin dipped slightly in 2022 to 15.41%, it remained relatively stable compared to the margins in 2021 and 2020, which were 15.96% and 15.80% respectively. Despite these fluctuations, the company maintained a consistently healthy operating profit margin above 15% over this period.

In 2019, Balchem Corp. reported an operating profit margin of 15.93%, which was similar to the margins in the following years. This stability suggests that the company has been effectively managing its operating expenses and maximizing profitability from its operations.

Overall, Balchem Corp.'s operating profit margin indicates that the company has been performing well in terms of generating profits from its core business activities, with a positive upward trend in 2023.