Resideo Technologies Inc (REZI)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 210,000 | 283,000 | 242,000 | 37,000 | 36,000 |
| Revenue | US$ in thousands | 6,177,000 | 6,308,000 | 5,786,000 | 10,080,000 | 9,917,000 |
| Net profit margin | 3.40% | 4.49% | 4.18% | 0.37% | 0.36% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $210,000K ÷ $6,177,000K
= 3.40%
The net profit margin of Resideo Technologies Inc has shown variability over the past five years. In 2023, the net profit margin decreased to 3.36% from 4.44% in 2022, indicating that the company's profitability decreased. However, when compared to 2021, the net profit margin increased slightly from 4.14% to 3.36%. It is worth noting that there was a significant improvement in profitability from 2020 to 2021 when the net profit margin more than doubled from 0.73% to 4.14%.
Despite the fluctuations in the net profit margin, it generally remained at low levels below 5% in the past five years. This suggests that Resideo Technologies Inc has been operating with relatively thin profit margins, which could be due to factors such as competitive pressures, pricing strategies, or operating inefficiencies.
Overall, the trend in the net profit margin of Resideo Technologies Inc indicates some volatility in profitability, and the company may need to focus on improving operational efficiency and cost management to enhance its profitability in the future.