Goodyear Tire & Rubber Co (GT)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | -689,000 | 202,000 | 764,000 | -1,254,000 | -311,000 |
| Revenue | US$ in thousands | 19,457,000 | 20,353,000 | 17,073,000 | 11,987,000 | 14,442,000 |
| Net profit margin | -3.54% | 0.99% | 4.47% | -10.46% | -2.15% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $-689,000K ÷ $19,457,000K
= -3.54%
The net profit margin of Goodyear Tire & Rubber Co. has been fluctuating over the past five years. In 2023, the net profit margin was negative at -3.43%, indicating that the company had a net loss relative to its revenue. This is a concerning sign as it implies that the company's expenses exceeded its revenue.
In 2022, the net profit margin improved to 0.97%, indicating that the company's profitability increased compared to the previous year. However, the margin was still relatively low, suggesting that the company had limited profitability relative to its revenue.
In 2021, the net profit margin further improved to 4.37%, showing a significant increase in profitability compared to the previous years. This is a positive sign as it indicates that the company was able to generate higher profits relative to its revenue.
In 2020, the net profit margin was negative at -10.18%, which indicates that the company experienced a significant net loss relative to its revenue. This suggests that the company faced financial challenges or incurred exceptional expenses during the year.
In 2019, the net profit margin was also negative at -2.11%, indicating that the company's expenses exceeded its revenue, leading to a net loss. Overall, the trend in Goodyear Tire & Rubber Co.'s net profit margin highlights varying levels of profitability and financial performance over the past five years.