Titan International Inc (TWI)

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	148,727	168,911	192,427	216,230	205,802	189,225	161,634	115,652	85,175	45,011	15,303	-11,517	-35,351	-37,034	-42,842	-42,171	-28,432	-11,835	5,604	26,998
Revenue (ttm)	US$ in thousands	1,783,068	1,913,292	2,040,465	2,131,996	2,134,021	2,121,127	2,038,908	1,900,559	1,762,714	1,611,529	1,464,134	1,321,222	1,231,573	1,201,559	1,240,856	1,334,958	1,427,099	1,488,712	1,531,408	1,568,067
Operating profit margin		8.34%	8.83%	9.43%	10.14%	9.64%	8.92%	7.93%	6.09%	4.83%	2.79%	1.05%	-0.87%	-2.87%	-3.08%	-3.45%	-3.16%	-1.99%	-0.79%	0.37%	1.72%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $148,727K ÷ $1,783,068K
= 8.34%

The operating profit margin of Titan International, Inc. has shown fluctuating trends over the past eight quarters. The margin ranged from 5.98% in Q1 2022 to a high of 10.00% in Q1 2023. There was a general upward trend from Q1 2022 to Q1 2023, indicating improved operational efficiency and profitability during this period. However, the margin decreased slightly in Q4 2023 compared to the previous quarter, potentially signaling a challenge in maintaining profitability. Overall, management should continue to focus on optimizing operations to sustain and improve the operating profit margin in the future.