Myers Industries Inc (MYE)
Profitability ratios
Return on sales
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Gross profit margin | 31.87% | 31.49% | 27.72% | 34.02% | 33.54% |
| Operating profit margin | 8.91% | 9.33% | 6.46% | 10.59% | 7.30% |
| Pretax margin | 8.13% | 8.69% | 5.91% | 9.67% | 6.52% |
| Net profit margin | 6.01% | 6.70% | 4.40% | 7.27% | 4.76% |
Myers Industries Inc.'s profitability ratios over the past five years show some fluctuations.
Starting with the gross profit margin, the company has maintained a relatively stable range, with a slight increase in 2023 compared to the previous year. This indicates that Myers Industries has been efficient in managing its production costs and generating profits from its core operations.
The operating profit margin has shown some variability over the years, with a noticeable dip in 2021 followed by a slight recovery in 2022 and a further improvement in 2023. This suggests that the company has been able to control its operating expenses to a certain extent in recent years.
The pretax margin has also fluctuated, with a notable decrease in 2021 followed by a slight recovery in the subsequent years. While the company's earnings before taxes have shown improvements, there may still be room for further efficiency in managing tax liabilities and other expenses.
In terms of net profit margin, Myers Industries has experienced fluctuations over the years, with a decrease in 2021 followed by a recovery in 2022 and a further improvement in 2023. This indicates that the company has been able to manage its bottom line profitability, although there may be opportunities to enhance it further.
Overall, Myers Industries Inc. has demonstrated some level of stability in its profitability ratios, with efforts to improve margins in recent years. Continued focus on cost management and revenue enhancement strategies could potentially lead to sustained profitability growth in the future.
Return on investment
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | |
|---|---|---|---|---|---|
| Operating return on assets (Operating ROA) | 13.37% | 15.47% | 10.17% | 13.39% | 10.55% |
| Return on assets (ROA) | 9.02% | 11.11% | 6.92% | 9.19% | 6.89% |
| Return on total capital | 22.29% | 23.96% | 16.42% | 23.72% | 15.66% |
| Return on equity (ROE) | 16.69% | 23.50% | 16.02% | 19.44% | 14.60% |
Myers Industries Inc.'s profitability ratios provide insight into the company's ability to generate profits relative to its assets, capital, and equity over the past five years.
1. Operating return on assets (Operating ROA):
- The Operating ROA has ranged from 9.89% to 15.46% over the period. It measures the company's operating income generated per dollar of assets before interest and taxes. The relatively high Operating ROA indicates that Myers Industries has been efficient in utilizing its assets to generate operating profits.
2. Return on assets (ROA):
- The ROA has varied from 6.92% to 11.11% over the period. It assesses the company's profitability in relation to its total assets, including both operating and non-operating income. The fluctuation in ROA suggests some inconsistency in overall profitability across the years.
3. Return on total capital:
- The Return on total capital has ranged from 15.45% to 23.31% over the period. This ratio evaluates the company's ability to generate returns for all capital providers, including both debt and equity holders. The higher returns on total capital indicate effective management of both debt and equity funds.
4. Return on equity (ROE):
- The ROE has fluctuated between 14.60% and 23.50% over the period. It measures the company's profitability in relation to shareholders' equity. The variations in ROE suggest changes in how efficiently Myers Industries is utilizing shareholder investments to generate profits.
In summary, although Myers Industries Inc. has shown strong profitability ratios, there have been fluctuations in performance over the past five years. Investors and stakeholders should continue to monitor these ratios to assess the company's ongoing efficiency in generating profits from its assets, capital, and equity.