MGP Ingredients Inc (MGPI)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 107,475 | 109,462 | 91,307 | 40,345 | 38,793 |
| Revenue | US$ in thousands | 829,876 | 776,907 | 622,687 | 393,353 | 361,687 |
| Net profit margin | 12.95% | 14.09% | 14.66% | 10.26% | 10.73% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $107,475K ÷ $829,876K
= 12.95%
The net profit margin of MGP Ingredients, Inc. has shown some fluctuations over the past five years. The company's net profit margin was 12.72% in 2023, lower than the previous year's margin of 13.88% and also lower than the 5-year high of 14.46% in 2021. Despite this decrease, the company has generally maintained a healthy profit margin above 10% in recent years, indicating efficient management of operating expenses in relation to revenue. It is important for MGP Ingredients, Inc. to continue monitoring and managing its costs effectively to sustain profitability and potentially improve its net profit margin in the future.