NewMarket Corporation (NEU)

Net profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	388,864	279,538	190,908	270,568	254,286
Revenue	US$ in thousands	2,657,060	2,718,050	2,315,890	1,998,090	2,157,050
Net profit margin		14.64%	10.28%	8.24%	13.54%	11.79%

December 31, 2023 calculation

Net profit margin = Net income ÷ Revenue
= $388,864K ÷ $2,657,060K
= 14.64%

The net profit margin of NewMarket Corp. has shown fluctuations over the past five years. It experienced a decrease from 2019 to 2021, followed by an increase in 2022, and another increase in 2023. The company's net profit margin was 14.36% in 2023, which indicates that for each dollar of revenue generated, the company retained $0.1436 as net profit after accounting for all expenses. This improvement in the net profit margin in 2023 compared to the previous years suggests that the company was more effective in managing its expenses relative to its revenue, resulting in higher profitability. Further analysis of the factors contributing to these changes in the net profit margin would provide valuable insights into the company's financial performance.