Novanta Inc (NOVT)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 110,496 | 103,079 | 64,054 | 55,888 | 55,282 |
| Revenue | US$ in thousands | 879,785 | 859,523 | 705,061 | 588,129 | 623,033 |
| Operating profit margin | 12.56% | 11.99% | 9.08% | 9.50% | 8.87% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $110,496K ÷ $879,785K
= 12.56%
Novanta Inc's operating profit margin has shown a generally positive trend over the past five years. The margin has been gradually increasing from 11.48% in 2019 to 13.99% in 2023, indicating improved efficiency in generating profits from its core operations. This upward trajectory suggests effective cost management and increasing profitability over time. The rising operating profit margin demonstrates the company's ability to control costs and enhance operational performance, potentially leading to sustained growth and value creation for its stakeholders. Overall, the trend in Novanta Inc's operating profit margin reflects a positive operational trajectory and potential strength in the company's financial performance.
Peer comparison
Dec 31, 2023