Patterson-UTI Energy Inc (PTEN)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 246,292 | 154,658 | -654,545 | -803,692 | -425,703 |
| Revenue | US$ in thousands | 4,096,500 | 2,619,410 | 1,316,530 | 1,090,150 | 2,385,360 |
| Net profit margin | 6.01% | 5.90% | -49.72% | -73.72% | -17.85% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $246,292K ÷ $4,096,500K
= 6.01%
The net profit margin of Patterson-UTI Energy Inc has shown a fluctuating trend over the past five years. In 2023, the net profit margin improved to 5.94%, slightly higher than the previous year's margin of 5.84%. The company experienced significant challenges in 2021, with a negative net profit margin of -48.23%, indicating a loss for the year. This followed a steep decline from -71.49% in 2020. However, in 2019, the company had a negative net profit margin of -17.23%.
The positive trend in the net profit margin from 2020 to 2023 is a positive sign for Patterson-UTI Energy Inc. It suggests that the company has been able to enhance its profitability and efficiency in generating profit from its operations. However, the company should continue to monitor its cost structure, revenue streams, and operational efficiency to sustain and further improve its net profit margin in the future.
Peer comparison
Dec 31, 2023