Xpel Inc (XPEL)
Net profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Net income | US$ in thousands | 52,800 | 41,381 | 31,567 | 18,282 | 13,978 |
| Revenue | US$ in thousands | 395,365 | 322,029 | 258,624 | 158,362 | 129,807 |
| Net profit margin | 13.35% | 12.85% | 12.21% | 11.54% | 10.77% |
December 31, 2023 calculation
Net profit margin = Net income ÷ Revenue
= $52,800K ÷ $395,365K
= 13.35%
The net profit margin of XPEL Inc has shown a consistent increasing trend over the past five years, reflecting the company's improved efficiency in generating profit from its revenue. The margin has increased from 10.76% in 2019 to 13.32% in 2023. This indicates that the company has been able to control its expenses effectively and/or increase its revenue generation capabilities. The steady improvement in net profit margin demonstrates XPEL Inc's ability to translate its sales into higher profitability over the years. This upward trend is a positive indication of the company's overall financial health and operational performance.