Novanta Inc (NOVT)
Operating profit margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | Dec 31, 2019 | Sep 30, 2019 | Jun 30, 2019 | Mar 31, 2019 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating income (ttm) | US$ in thousands | 110,496 | 115,663 | 114,015 | 105,108 | 103,079 | 97,923 | 84,537 | 77,238 | 64,054 | 59,437 | 56,028 | 53,737 | 55,888 | 51,800 | 52,735 | 54,139 | 55,282 | 57,975 | 66,169 | 68,179 |
| Revenue (ttm) | US$ in thousands | 879,785 | 884,432 | 888,334 | 874,295 | 859,523 | 842,387 | 795,095 | 747,026 | 705,060 | 652,770 | 617,780 | 594,757 | 588,129 | 599,132 | 610,790 | 621,523 | 623,138 | 622,024 | 628,541 | 624,047 |
| Operating profit margin | 12.56% | 13.08% | 12.83% | 12.02% | 11.99% | 11.62% | 10.63% | 10.34% | 9.08% | 9.11% | 9.07% | 9.04% | 9.50% | 8.65% | 8.63% | 8.71% | 8.87% | 9.32% | 10.53% | 10.93% |
December 31, 2023 calculation
Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $110,496K ÷ $879,785K
= 12.56%
Novanta Inc's operating profit margin has shown a consistent upward trend over the past eight quarters. From Q1 2022 to Q4 2023, there has been a gradual improvement in the operating profit margin, with Q4 2023 recording the highest value at 13.99%. This indicates that Novanta Inc has been able to effectively manage its operating expenses relative to its revenue, resulting in a higher percentage of each dollar of revenue being converted into operating profit. Overall, the increasing trend in operating profit margin reflects the company's efficiency in controlling costs and optimizing its operations to generate higher profits.
Peer comparison
Dec 31, 2023