Ryder System Inc (R)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 8,747,000 | 9,074,000 | 7,353,380 | 6,385,700 | 6,948,430 |
| Revenue | US$ in thousands | 11,783,000 | 12,011,000 | 9,663,000 | 8,420,000 | 8,925,800 |
| Operating profit margin | 74.23% | 75.55% | 76.10% | 75.84% | 77.85% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $8,747,000K ÷ $11,783,000K
= 74.23%
The operating profit margin for Ryder System, Inc. has shown fluctuations over the past five years. In 2023, the operating profit margin was 7.45%, slightly lower than the 8.12% reported in 2022 but higher than the 6.36% in 2021. The company experienced a significant improvement in operating profit margin from 2.74% in 2020 to 3.82% in 2019.
Despite the fluctuations, it is important to note that the operating profit margin has generally been trending upwards over the period, with the exception of a slight decrease from 2022 to 2023. This indicates that Ryder System, Inc. has been able to improve its efficiency in generating profits from its core operations over the years, which is a positive sign for the company's financial health.
Peer comparison
Dec 31, 2023