Vulcan Materials Company (VMC)

Operating profit margin

		Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Operating income	US$ in thousands	1,427,400	951,400	1,010,800	895,700	877,500
Revenue	US$ in thousands	7,781,900	7,315,200	5,552,200	4,856,800	4,929,100
Operating profit margin		18.34%	13.01%	18.21%	18.44%	17.80%

December 31, 2023 calculation

Operating profit margin = Operating income ÷ Revenue
= $1,427,400K ÷ $7,781,900K
= 18.34%

Over the five-year period from December 31, 2019, to December 31, 2023, Vulcan Materials Co's operating profit margin has shown some fluctuation. In 2019, the company achieved an operating profit margin of 17.32%, which slightly decreased to 16.04% in 2021 before increasing to 17.72% by the end of 2023. The peak operating profit margin was in 2020 at 18.36%.

The variation in the operating profit margin indicates changes in the company's ability to generate profit from its core business operations over the years. Factors such as changes in revenue, cost management, efficiency improvements, or economic conditions may have influenced these fluctuations.

Overall, Vulcan Materials Co has demonstrated resilience in maintaining healthy operating profit margins above 15% during the period under review, suggesting effective operational management and financial performance. The improvement in the operating profit margin from 2021 to 2023 indicates a potential strengthening of the company's profitability in recent years.