Tootsie Roll Industries Inc (TR)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 101,828 | 110,755 | 67,133 | 58,244 | 69,214 |
| Revenue | US$ in thousands | 766,225 | 688,173 | 571,397 | 472,151 | 529,311 |
| Operating profit margin | 13.29% | 16.09% | 11.75% | 12.34% | 13.08% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $101,828K ÷ $766,225K
= 13.29%
Tootsie Roll Industries, Inc.'s operating profit margin has experienced some fluctuations over the past five years. In 2023, the operating profit margin decreased to 13.24% from 16.12% in 2022. This decline suggests that the company's profitability from core operations may have declined compared to the previous year.
When comparing the current operating profit margin to the margins in 2021 and 2020, it is higher than the 11.76% in 2021 and 12.36% in 2020. This indicates an improvement in profitability in 2023 compared to those two years.
However, the operating profit margin in 2023 is slightly lower than the 13.13% recorded in 2019. This suggests that the company's profitability from operations in 2023 was not as high as it was in 2019.
Overall, the operating profit margin for Tootsie Roll Industries, Inc. has shown variability over the past five years, with a slight decrease in 2023 compared to 2022 but an improvement compared to 2021 and 2020.
Peer comparison
Dec 31, 2023