Xpel Inc (XPEL)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| Operating income | US$ in thousands | 66,972 | 53,937 | 40,116 | 23,370 | 17,087 |
| Revenue | US$ in thousands | 395,365 | 322,029 | 258,624 | 158,362 | 129,807 |
| Operating profit margin | 16.94% | 16.75% | 15.51% | 14.76% | 13.16% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $66,972K ÷ $395,365K
= 16.94%
The operating profit margin of XPEL Inc has shown a positive trend over the past five years, increasing from 13.15% in 2019 to 16.90% in 2023. This indicates that the company has been able to generate a higher percentage of operating profit relative to its revenue during this period. The year-on-year improvement in operating profit margin suggests that XPEL Inc has been effectively managing its operating expenses and increasing operational efficiency. Overall, the consistent growth in operating profit margin reflects the company's ability to generate profits from its core business activities and is a positive signal for its financial health and performance.