Gates Industrial Corporation plc (GTES)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 232,900 | 220,800 | 297,100 | 79,400 | 690,100 |
| Revenue | US$ in thousands | 3,570,200 | 3,554,200 | 3,474,400 | 2,793,000 | 3,087,100 |
| Net profit margin | 6.52% | 6.21% | 8.55% | 2.84% | 22.35% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $232,900K ÷ $3,570,200K
= 6.52%
The net profit margin of Gates Industrial Corporation plc has shown some variability over the past five years. In 2019, the company achieved a significantly high net profit margin of 22.35%, which experienced a sharp decline to 2.84% in 2020. However, the company's net profit margin improved in the following years, reaching 8.55% in 2021, 6.21% in 2022, and 6.52% in 2023.
Despite the fluctuations, it is worth noting that Gates Industrial Corporation plc has been able to maintain positive net profit margins each year, indicating the company's ability to generate profit after considering all expenses. The upward trend in net profit margin from 2020 to 2021 and 2023 suggests an improvement in the company's profitability performance over the recent years. However, further analysis and consideration of other financial metrics are necessary to understand the factors driving these changes in net profit margin.
Peer comparison
Dec 31, 2023