Vulcan Materials Company (VMC)

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	1,427,300	1,248,700	1,135,200	991,700	951,500	971,400	928,400	908,300	1,010,800	995,830	1,021,534	1,032,930	895,731	892,876	908,148	885,326	877,458	870,374	816,182	770,951
Revenue (ttm)	US$ in thousands	7,782,000	7,679,600	7,582,100	7,423,500	7,315,200	7,189,600	6,617,800	6,024,500	5,552,100	5,120,920	4,914,310	4,875,890	4,856,830	4,867,860	4,976,730	4,981,830	4,929,101	4,831,001	4,652,441	4,524,911
Operating profit margin		18.34%	16.26%	14.97%	13.36%	13.01%	13.51%	14.03%	15.08%	18.21%	19.45%	20.79%	21.18%	18.44%	18.34%	18.25%	17.77%	17.80%	18.02%	17.54%	17.04%

December 31, 2023 calculation

Operating profit margin = Operating income (ttm) ÷ Revenue (ttm)
= $1,427,300K ÷ $7,782,000K
= 18.34%

The operating profit margin for Vulcan Materials Co has exhibited a generally positive trend over the past eight quarters, increasing from 13.79% in Q4 2022 to 17.72% in Q4 2023. This indicates that the company has been effectively managing its operating expenses relative to its revenue, resulting in higher profitability. The margins have fluctuated slightly from quarter to quarter, with some quarters showing more significant increases or decreases than others. Overall, the upward trend in operating profit margins suggests improving operational efficiency and potentially better cost management by Vulcan Materials Co.