Myers Industries Inc (MYE)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 72,405 | 83,941 | 49,301 | 53,550 | 37,266 |
| Revenue | US$ in thousands | 812,949 | 899,773 | 762,817 | 505,469 | 510,807 |
| Operating profit margin | 8.91% | 9.33% | 6.46% | 10.59% | 7.30% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $72,405K ÷ $812,949K
= 8.91%
The operating profit margin for Myers Industries Inc. has shown fluctuations over the past five years. In 2023, the operating profit margin decreased to 8.88% from 9.32% in 2022, indicating a slight decline in the company's profitability from the previous year. However, when compared to the margins in 2021 and 2019, the 2023 margin is higher, showing improved profitability over those years.
Overall, the operating profit margin has demonstrated variability, with some years experiencing increases and others showing decreases. The company may benefit from further analysis to understand the factors driving these fluctuations and consider strategies to maintain or improve profitability in the future.
Peer comparison
Dec 31, 2023