UFP Technologies Inc (UFPT)

Net profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Net income	US$ in thousands	44,924	41,789	15,886	13,369	19,750
Revenue	US$ in thousands	398,082	374,929	206,246	178,831	197,707
Net profit margin		11.29%	11.15%	7.70%	7.48%	9.99%

December 31, 2023 calculation

Net profit margin = Net income ÷ Revenue
= $44,924K ÷ $398,082K
= 11.29%

The net profit margin of UFP Technologies Inc has shown a generally positive trend over the past five years, with the margin increasing from 9.99% in 2019 to 11.29% in 2023. This indicates that the company's profitability relative to its revenues has improved steadily over this period. The consistent growth in net profit margin suggests that UFP Technologies Inc has been effectively managing its operating expenses and generating higher profits from its revenue streams. An increasing net profit margin is a positive sign for investors, as it demonstrates the company's ability to convert revenues into profits efficiently. Overall, the improving net profit margin trend indicates a strong financial performance for UFP Technologies Inc in recent years.