Net Profit Margin
since 2008
Calculation
Activision Blizzard Inc., net profit margin, long-term trends, calculation
| Net profit margin | = | 100 | × | Net income (loss)1 | ÷ | Net revenues1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 20.10% | = | 100 | × | 1,513) | ÷ | 7,528) |
| Dec 31, 2021 | 30.66% | = | 100 | × | 2,699) | ÷ | 8,803) |
| Dec 31, 2020 | 27.17% | = | 100 | × | 2,197) | ÷ | 8,086) |
| Dec 31, 2019 | 23.16% | = | 100 | × | 1,503) | ÷ | 6,489) |
| Dec 31, 2018 | 24.17% | = | 100 | × | 1,813) | ÷ | 7,500) |
| Dec 31, 2017 | 3.89% | = | 100 | × | 273) | ÷ | 7,017) |
| Dec 31, 2016 | 14.62% | = | 100 | × | 966) | ÷ | 6,608) |
| Dec 31, 2015 | 19.13% | = | 100 | × | 892) | ÷ | 4,664) |
| Dec 31, 2014 | 18.94% | = | 100 | × | 835) | ÷ | 4,408) |
| Dec 31, 2013 | 22.04% | = | 100 | × | 1,010) | ÷ | 4,583) |
| Dec 31, 2012 | 23.66% | = | 100 | × | 1,149) | ÷ | 4,856) |
| Dec 31, 2011 | 22.82% | = | 100 | × | 1,085) | ÷ | 4,755) |
| Dec 31, 2010 | 9.40% | = | 100 | × | 418) | ÷ | 4,447) |
| Dec 31, 2009 | 2.64% | = | 100 | × | 113) | ÷ | 4,279) |
| Dec 31, 2008 | -3.54% | = | 100 | × | (107) | ÷ | 3,026) |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31).
1 US$ in millions
The financial performance from 2008 to 2022 is characterized by a transition from initial net losses to a period of sustained high profitability, punctuated by specific intervals of volatility. Net profit margins evolved from a deficit in 2008 to a historical peak in 2021, indicating a long-term improvement in the conversion of revenue into actual profit.
- Initial Recovery and Growth Phase (2008–2012)
- A sharp reversal in profitability is observed starting in 2009, as the net profit margin shifted from -3.54% to 2.64%. This upward trajectory accelerated rapidly, reaching 23.66% by 2012. This period coincides with a steady increase in net revenues, rising from 3,026 million USD to 4,856 million USD.
- Stability and Intermediate Decline (2013–2017)
- Between 2013 and 2016, margins remained relatively stable, fluctuating between 14.62% and 22.04%. However, a significant contraction occurred in 2017, where the net profit margin dropped to 3.89%, despite net revenues reaching a then-record 7,017 million USD. This suggests a substantial increase in expenses or one-time charges during that fiscal year that disproportionately impacted net income.
- Peak Profitability and Recent Trends (2018–2022)
- A strong resurgence began in 2018, with margins returning to 24.17% and climbing steadily to a peak of 30.66% in 2021. This peak represents the highest efficiency in profit generation across the entire analyzed period, supported by record revenues of 8,803 million USD. A subsequent correction is observed in 2022, with the net profit margin moderating to 20.10%.
Overall, the data reveals a cyclical but generally ascending trend in profitability. While revenue growth has been consistent over the long term, the net profit margin has shown higher sensitivity to internal or external shocks, most notably in 2017, before achieving a period of maximized efficiency toward the end of the sequence.
AI Ask an analyst for more
Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.
How can I help you?
Comparison to Competitors
Activision Blizzard Inc., net profit margin, long-term trends, comparison to competitors
| Activision Blizzard Inc. | Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Netflix Inc. | Walt Disney Co. | |
|---|---|---|---|---|---|---|
| Dec 31, 2022 | 20.10% | 21.20% | 4.42% | 19.90% | 14.21% | 3.80% |
| Dec 31, 2021 | 30.66% | 29.51% | 12.17% | 33.38% | 17.23% | 2.96% |
| Dec 31, 2020 | 27.17% | 22.06% | 10.17% | 33.90% | 11.05% | -4.38% |
| Dec 31, 2019 | 23.16% | 21.22% | 11.99% | 26.15% | 9.26% | 15.89% |
| Dec 31, 2018 | 24.17% | 22.46% | 12.41% | 39.60% | 7.67% | 21.20% |
| Dec 31, 2017 | 3.89% | 11.42% | 26.87% | 39.20% | 4.78% | 16.29% |
| Dec 31, 2016 | 14.62% | 21.58% | 10.81% | 36.97% | 2.11% | 16.88% |
| Dec 31, 2015 | 19.13% | 21.80% | 10.96% | 20.57% | 1.81% | 15.98% |
| Dec 31, 2014 | 18.94% | 21.88% | 12.18% | 23.58% | 4.85% | 15.37% |
| Dec 31, 2013 | 22.04% | 21.60% | 10.54% | 19.05% | 2.57% | 13.62% |
| Dec 31, 2012 | 23.66% | 21.40% | 9.91% | 1.04% | 0.48% | 13.44% |
| Dec 31, 2011 | 22.82% | 25.69% | 7.45% | — | 7.06% | 11.76% |
| Dec 31, 2010 | 9.40% | 29.01% | 9.58% | — | 7.44% | 10.41% |
| Dec 31, 2009 | 2.64% | 27.57% | 10.17% | — | 6.94% | 9.15% |
| Dec 31, 2008 | -3.54% | 19.39% | 7.44% | — | 6.08% | 11.70% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31).
Comparison to Sector (Media & Entertainment)
Activision Blizzard Inc., net profit margin, long-term trends, comparison to sector (media & entertainment)
| Activision Blizzard Inc. | Media & Entertainment | |
|---|---|---|
| Dec 31, 2022 | 20.10% | 15.14% |
| Dec 31, 2021 | 30.66% | 23.20% |
| Dec 31, 2020 | 27.17% | 17.27% |
| Dec 31, 2019 | 23.16% | 18.28% |
| Dec 31, 2018 | 24.17% | 21.63% |
| Dec 31, 2017 | 3.89% | 20.09% |
| Dec 31, 2016 | 14.62% | 18.25% |
| Dec 31, 2015 | 19.13% | 16.19% |
| Dec 31, 2014 | 18.94% | 16.64% |
| Dec 31, 2013 | 22.04% | 15.12% |
| Dec 31, 2012 | 23.66% | 13.86% |
| Dec 31, 2011 | 22.82% | 13.73% |
| Dec 31, 2010 | 9.40% | 15.13% |
| Dec 31, 2009 | 2.64% | 13.97% |
| Dec 31, 2008 | -3.54% | 11.85% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31).
Comparison to Industry (Communication Services)
Activision Blizzard Inc., net profit margin, long-term trends, comparison to industry (communication services)
| Activision Blizzard Inc. | Communication Services | |
|---|---|---|
| Dec 31, 2022 | 20.10% | 11.47% |
| Dec 31, 2021 | 30.66% | 18.71% |
| Dec 31, 2020 | 27.17% | 11.50% |
| Dec 31, 2019 | 23.16% | 14.63% |
| Dec 31, 2018 | 24.17% | 16.42% |
| Dec 31, 2017 | 3.89% | 19.83% |
| Dec 31, 2016 | 14.62% | 12.81% |
| Dec 31, 2015 | 19.13% | 12.78% |
| Dec 31, 2014 | 18.94% | 10.11% |
| Dec 31, 2013 | 22.04% | 12.57% |
| Dec 31, 2012 | 23.66% | 7.58% |
| Dec 31, 2011 | 22.82% | 6.73% |
| Dec 31, 2010 | 9.40% | 11.43% |
| Dec 31, 2009 | 2.64% | 9.07% |
| Dec 31, 2008 | -3.54% | 9.66% |
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31).