Standard Motor Products Inc (SMP)

Net profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	34,148	55,351	90,886	57,393	57,917
Revenue	US$ in thousands	2,674,000	2,675,860	2,595,400	2,254,610	2,270,140
Net profit margin		1.28%	2.07%	3.50%	2.55%	2.55%

December 31, 2023 calculation

Net profit margin = Net income ÷ Revenue
= $34,148K ÷ $2,674,000K
= 1.28%

Standard Motor Products, Inc.'s net profit margin has exhibited some fluctuations over the past five years. In 2023, the net profit margin decreased to 2.51%, down from 4.03% in 2022. This decline indicates that the company's profitability relative to its revenue has weakened. However, comparing the 2023 margin to the 2021 and 2020 figures of 7.00% and 5.09% respectively, it is clear that the company's profitability has not yet reached those levels. Notably, the net profit margin remained consistent between 2019 and 2020 at 5.09%. Overall, the decreasing trend in net profit margin from 2022 to 2023 suggests potential challenges in managing costs or generating revenue efficiently.