MSA Safety (MSA)

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	231,320	199,690	169,880	136,408	239,137	79,678	47,767	21,366	22,781	135,302	144,049	157,208	171,907	190,220	208,685	214,869	188,247	188,496	168,885	161,204
Revenue (ttm)	US$ in thousands	1,787,646	1,708,559	1,648,578	1,586,762	1,527,954	1,483,509	1,447,089	1,415,368	1,400,181	1,370,674	1,338,733	1,315,694	1,348,223	1,335,229	1,381,851	1,417,088	1,401,981	1,388,510	1,368,592	1,358,248
Operating profit margin		12.94%	11.69%	10.30%	8.60%	15.65%	5.37%	3.30%	1.51%	1.63%	9.87%	10.76%	11.95%	12.75%	14.25%	15.10%	15.16%	13.43%	13.58%	12.34%	11.87%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $231,320K ÷ $1,787,646K
= 12.94%

Over the past eight quarters, MSA Safety Inc has demonstrated a gradually improving trend in its operating profit margin. The operating profit margin, a key profitability metric, measures the company's ability to generate profit from its core operations before interest and taxes.

In particular, from Q1 2022 to Q4 2023, MSA Safety Inc's operating profit margin has increased from 3.11% to 21.68%. This substantial improvement indicates that the company has been able to effectively control its operating expenses and costs over the quarters, leading to higher profitability with each passing period.

Overall, the consistent growth in the operating profit margin reflects positively on MSA Safety Inc's operational efficiency and indicates that the company is on a path towards stronger financial performance. It suggests that the company is effectively managing its costs while maximizing revenue generation, which is a good sign for investors and stakeholders.