MGP Ingredients Inc (MGPI)

Operating profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	148,613	135,256	149,281	140,444	148,965	164,566	163,586	155,943	126,363	96,590	77,358	61,033	54,241	54,949	52,901	52,437	47,242	47,603	48,014	48,272
Revenue (ttm)	US$ in thousands	829,876	812,630	802,152	788,133	782,358	758,210	733,675	713,632	626,720	560,788	486,732	404,055	394,172	385,352	373,217	371,159	361,563	374,318	378,595	376,354
Operating profit margin		17.91%	16.64%	18.61%	17.82%	19.04%	21.70%	22.30%	21.85%	20.16%	17.22%	15.89%	15.11%	13.76%	14.26%	14.17%	14.13%	13.07%	12.72%	12.68%	12.83%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $148,613K ÷ $829,876K
= 17.91%

The operating profit margin of MGP Ingredients, Inc. has shown a slightly increasing trend over the past four quarters. In Q4 2023, the operating profit margin reached 20.89%, compared to 19.15% in Q3 2023, indicating an improvement in the company's ability to generate profit from its core operations. This trend is consistent with the performance in Q2 2023 and Q1 2023, where the operating profit margins were 18.34% and 17.54%, respectively.

Comparing these figures to the same quarters in the previous year, the company's operating profit margin in Q4 2023 outperformed Q4 2022, which stood at 18.76%. However, the operating profit margin in Q4 2023 was slightly lower than the levels seen in Q3 2022 (19.33%) and Q2 2022 (19.85%).

Overall, the gradual improvement in operating profit margin over the past year demonstrates the company's efforts to enhance operational efficiency and profitability. It suggests that MGP Ingredients, Inc. has been effectively managing its costs and increasing its profitability relative to its revenue.