Standard Motor Products Inc (SMP)

Operating profit margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Operating income (ttm)	US$ in thousands	92,677	98,442	97,251	97,966	104,135	112,635	117,558	126,590	128,999	135,374	144,800	123,896	108,895	95,814	79,154	90,861	94,495	95,422	91,296	86,918
Revenue (ttm)	US$ in thousands	2,701,423	2,718,401	2,708,286	2,722,422	2,715,865	2,739,824	2,720,702	2,687,356	2,595,396	2,259,260	2,206,048	2,017,497	1,972,331	1,930,845	1,858,027	1,971,543	2,030,255	2,035,973	2,014,034	1,977,475
Operating profit margin		3.43%	3.62%	3.59%	3.60%	3.83%	4.11%	4.32%	4.71%	4.97%	5.99%	6.56%	6.14%	5.52%	4.96%	4.26%	4.61%	4.65%	4.69%	4.53%	4.40%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $92,677K ÷ $2,701,423K
= 3.43%

Standard Motor Products, Inc.'s operating profit margin has displayed a gradual decline over the past year, starting at a high of 9.44% in Q1 2022 and reaching 7.01% in Q4 2023. Despite some fluctuations, the trend suggests a general decrease in profitability. This decline may indicate challenges in managing operating expenses or generating sufficient revenue to cover costs. Further analysis and investigation into the company's cost structure and revenue streams are recommended to understand the factors contributing to this trend.