Patrick Industries Inc (PATK)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 142,897 | 328,196 | 224,915 | 97,061 | 89,566 |
| Revenue | US$ in thousands | 3,466,390 | 4,885,580 | 4,070,100 | 2,470,640 | 2,330,060 |
| Net profit margin | 4.12% | 6.72% | 5.53% | 3.93% | 3.84% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $142,897K ÷ $3,466,390K
= 4.12%
Patrick Industries, Inc.'s net profit margin has exhibited variability over the past five years. The margin declined from 6.72% in 2022 to 4.12% in 2023, representing a significant decrease. This reduction suggests that the company may have experienced challenges in controlling costs or generating sufficient revenue to maintain profitability. However, it is worth noting that the net profit margin in 2023 is still higher than that of 2020 and 2019, indicating some level of improvement compared to prior years. Overall, the trend in net profit margin for Patrick Industries, Inc. demonstrates fluctuations, which may warrant further examination into the company's financial performance and efficiency in managing its bottom line.
Peer comparison
Dec 31, 2023