PNM Resources Inc (PNM)

Net profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	88,346	170,058	196,357	172,775	77,362
Revenue	US$ in thousands	1,939,200	2,249,560	1,779,870	1,523,010	1,457,600
Net profit margin		4.56%	7.56%	11.03%	11.34%	5.31%

December 31, 2023 calculation

Net profit margin = Net income ÷ Revenue
= $88,346K ÷ $1,939,200K
= 4.56%

The net profit margin of PNM Resources Inc has shown fluctuations over the past five years. In 2023, the net profit margin decreased to 4.53% from 7.54% in 2022, representing a significant decline. This downward trend is consistent with a decrease from 11.00% in 2021 and 11.34% in 2020. However, compared to 2019 when the net profit margin was 5.31%, the company still demonstrated improved profitability in 2023. The declining net profit margin could indicate increasing costs or declining revenue relative to sales. Further analysis of the company's financial performance and operational efficiency would be needed to understand the factors driving these changes in profitability.