HNI Corp (HNI)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 49,200 | 123,900 | 59,800 | 41,900 | 110,505 |
| Revenue | US$ in thousands | 2,434,000 | 2,361,800 | 2,184,400 | 1,948,370 | 2,238,500 |
| Net profit margin | 2.02% | 5.25% | 2.74% | 2.15% | 4.94% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $49,200K ÷ $2,434,000K
= 2.02%
To analyze HNI Corp's net profit margin over the past five years, we observe fluctuations in the company's profitability. The net profit margin indicates the percentage of revenue that translates into net income after accounting for all expenses.
In 2023, the net profit margin stands at 2.02%, showing a decrease from the previous year's 5.25%. This decline suggests that the company's bottom line profitability weakened in 2023 compared to 2022. However, it is important to note that the net profit margin in 2023 is still higher than the levels seen in 2020 and 2021.
The significant drop in net profit margin from 5.25% in 2022 to 2.02% in 2023 could be attributed to various factors such as changes in revenue, cost structures, or other macroeconomic conditions affecting the business operations of HNI Corp. These fluctuations highlight the importance of closely monitoring and analyzing the company's financial performance over time to understand the underlying factors driving profitability trends.
Overall, while the net profit margin of HNI Corp has shown variability in recent years, further analysis of the company's financial statements and operations would be necessary to gain a deeper insight into the factors influencing its profitability.