Snap-On Inc (SNA)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 1,310,400 | 1,207,200 | 1,123,500 | 880,500 | 962,300 |
| Revenue | US$ in thousands | 5,108,300 | 4,842,500 | 4,601,700 | 3,942,200 | 4,067,700 |
| Operating profit margin | 25.65% | 24.93% | 24.41% | 22.34% | 23.66% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $1,310,400K ÷ $5,108,300K
= 25.65%
Snap-On Inc's operating profit margin has shown a generally increasing trend over the past five years. From 2019 to 2022, the company experienced year-over-year improvements in its operating profit margin. The margin peaked in 2023 at 25.65%, reflecting the company's ability to effectively manage its operating expenses relative to its revenue. This indicates that Snap-On Inc has been efficient in generating profit from its core business operations. The consistent improvement in operating profit margin suggests that the company has been successful in enhancing operational efficiency and/or pricing strategies, which could positively impact its overall financial performance.
Peer comparison
Dec 31, 2023