IPG Photonics Corporation (IPGP)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	231,973	169,500	367,883	198,659	233,793
Revenue	US$ in thousands	1,287,440	1,429,550	1,460,860	1,200,720	1,314,580
Operating profit margin		18.02%	11.86%	25.18%	16.54%	17.78%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $231,973K ÷ $1,287,440K
= 18.02%

The operating profit margin of IPG Photonics Corp has varied over the past five years. In 2023, the operating profit margin was 17.99%, showing a slight increase compared to 16.19% in 2022 but still lower than the margins recorded in 2021 (24.15%), 2020 (19.28%), and 2019 (22.13%). This indicates a certain level of fluctuation in the company's ability to generate profits from its core operations. Further analysis would be needed to understand the factors driving these changes and to assess the company's overall operational efficiency and profitability.