Quest Diagnostics Incorporated (DGX)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 1,262,000 | 1,428,000 | 2,381,000 | 1,971,000 | 1,231,000 |
| Revenue | US$ in thousands | 9,100,000 | 9,745,000 | 10,628,000 | 9,437,000 | 7,726,000 |
| Operating profit margin | 13.87% | 14.65% | 22.40% | 20.89% | 15.93% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $1,262,000K ÷ $9,100,000K
= 13.87%
The operating profit margin of Quest Diagnostics, Inc. has shown some fluctuations over the past five years. In 2023, the operating profit margin was 14.08%, slightly lower than the previous year's margin of 14.56%. However, it is worth noting that the operating profit margin in 2023 remains within a relatively stable range compared to historical data.
Looking back at the trends over the past five years, there was a significant decline in the operating profit margin in 2021 compared to 2020, dropping from 22.05% to 20.89%. This was followed by a slight recovery in 2022 to 14.56%. The operating profit margin in 2019 was 14.70%, showing a similar level to the most recent operating profit margin in 2023.
Overall, while there have been fluctuations in Quest Diagnostics' operating profit margin over the years, the company has generally maintained a healthy level of profitability. Further analysis would be required to understand the specific factors contributing to these changes and their implications for the company's financial performance and strategic direction.
Peer comparison
Dec 31, 2023