Goodyear Tire & Rubber Co (GT)
Net profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 60,000 | -689,000 | 202,000 | 764,000 | -1,250,000 |
| Revenue | US$ in thousands | 18,878,000 | 20,066,000 | 20,805,000 | 17,478,000 | 12,321,000 |
| Net profit margin | 0.32% | -3.43% | 0.97% | 4.37% | -10.15% |
December 31, 2024 calculation
Net profit margin = Net income ÷ Revenue
= $60,000K ÷ $18,878,000K
= 0.32%
Based on the data provided, the net profit margin of Goodyear Tire & Rubber Co has varied over the years. In December 2020, the company recorded a net profit margin of -10.15%, indicating that it incurred a net loss relative to its revenue. However, the situation improved in December 2021, with a net profit margin of 4.37%, signifying that the company earned a profit equivalent to 4.37% of its total revenue.
In the following years, Goodyear's net profit margins fluctuated. By December 2022, the net profit margin decreased to 0.97%, indicating a lower level of profitability. Subsequently, in December 2023, the company's net profit margin declined further to -3.43%, implying a loss compared to the revenue generated. Nonetheless, by December 2024, the net profit margin slightly improved to 0.32%, albeit remaining relatively low.
The fluctuating trend in Goodyear's net profit margin suggests varying levels of profitability and efficiency in managing costs and operations over the years. It is essential for the company to assess and address factors impacting profitability to ensure sustainable financial performance in the future.