Novanta Inc (NOVT)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 72,878 | 74,051 | 50,331 | 44,521 | 40,773 |
| Revenue | US$ in thousands | 879,785 | 859,523 | 705,061 | 588,129 | 623,033 |
| Net profit margin | 8.28% | 8.62% | 7.14% | 7.57% | 6.54% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $72,878K ÷ $879,785K
= 8.28%
The net profit margin of Novanta Inc has shown a relatively stable trend over the past five years, ranging from 6.51% in 2019 to 8.60% in 2022. In 2023, the net profit margin decreased slightly to 8.27%.
The consistent positive net profit margins indicate that Novanta Inc has been able to effectively control its expenses relative to its revenue. This reflects operational efficiency and effective cost management within the company.
Although there was a slight dip in the net profit margin in 2023, it remains within a healthy range, suggesting that Novanta Inc continues to generate a reasonable level of profit for each dollar of revenue generated.
Overall, the net profit margin analysis indicates that Novanta Inc has been able to maintain profitability and efficiency in its operations over the years.
Peer comparison
Dec 31, 2023