IPG Photonics Corporation (IPGP)

Net profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	218,878	109,909	278,416	159,572	180,234
Revenue	US$ in thousands	1,287,440	1,429,550	1,460,860	1,200,720	1,314,580
Net profit margin		17.00%	7.69%	19.06%	13.29%	13.71%

December 31, 2023 calculation

Net profit margin = Net income ÷ Revenue
= $218,878K ÷ $1,287,440K
= 17.00%

The net profit margin of IPG Photonics Corp has fluctuated over the past five years. In 2023, the net profit margin significantly improved to 17.00% compared to 7.69% in 2022. This substantial increase indicates that the company was able to control its expenses and improve its profitability in the most recent year. However, this improvement followed a decline in the net profit margin from 19.06% in 2021 to 13.29% in 2020. Despite the fluctuations, the net profit margin has generally remained above 10% in the period under review, indicating that IPG Photonics Corp has maintained a healthy level of profitability relative to its revenue.