Myers Industries Inc (MYE)

Net profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	48,867	60,267	33,538	36,769	24,333
Revenue	US$ in thousands	812,949	899,773	762,817	505,469	510,807
Net profit margin		6.01%	6.70%	4.40%	7.27%	4.76%

December 31, 2023 calculation

Net profit margin = Net income ÷ Revenue
= $48,867K ÷ $812,949K
= 6.01%

Myers Industries Inc.'s net profit margin has fluctuated over the past five years, ranging from 4.40% in 2021 to 7.20% in 2020. The company's net profit margin decreased to 6.01% in 2023 from 6.70% in 2022.

The declining trend in net profit margin from 2020 to 2021 followed by a slight improvement in 2022 suggests some volatility in the company's profitability. The 2023 figure indicates that while the company's profitability decreased slightly, it remains relatively stable compared to previous years.

Further investigation is necessary to determine the underlying reasons for these fluctuations in net profit margin, including assessing the company's cost structure, pricing strategies, operational efficiency, and overall financial performance.