Stock Analysis on Net
Stock Analysis on Net

Activision Blizzard Inc. (NASDAQ:ATVI)

$22.49

This company has been moved to the archive! The financial data has not been updated since July 31, 2023.

Operating Profit Margin
since 2008

Microsoft Excel

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Calculation

Activision Blizzard Inc., operating profit margin, long-term trends, calculation

Microsoft Excel
Operating profit margin = 100 × Operating income (loss)1 ÷ Net revenues1
Dec 31, 2022 = 100 × ÷
Dec 31, 2021 = 100 × ÷
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Dec 31, 2016 = 100 × ÷
Dec 31, 2015 = 100 × ÷
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Dec 31, 2009 = 100 × ÷
Dec 31, 2008 = 100 × ÷

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

Operating Income (Loss) Trend
The operating income transitioned from a significant loss of US$233 million in 2008 to a positive value by 2010, reaching US$469 million. This upward trajectory continued, peaking at US$3,259 million in 2021. However, in 2022, the operating income decreased substantially to US$1,670 million. Overall, the data exhibits strong growth in operating income over the period, with notable volatility in the most recent year.
Net Revenues Pattern
Net revenues showed a general upward trend from US$3,026 million in 2008 to a peak of US$8,803 million in 2021. There was a consistent increase especially from 2015 onwards, indicating expanding sales or service income. Nevertheless, 2022 saw a decline to US$7,528 million, representing a reversal after several years of revenue growth.
Operating Profit Margin Evolution
The operating profit margin improved dramatically from a negative margin of -7.7% in 2008 to positive double digits by 2010, hitting 10.55%. It further increased to consistently exceed 20% from 2010 onward, reaching an all-time high of 37.02% in 2021. The margin dropped to 22.18% in 2022, indicating reduced profitability relative to revenue in that year compared to previous peaks.
Overall Observations
The company demonstrated significant operational improvement over the analyzed period, transitioning from losses to strong profitability. Revenue growth was steady with notable acceleration post-2015. Operating margins reflected improved efficiency and cost control but exhibited sensitivity to recent market or operational conditions as seen in the declines in 2022 figures. The dip in 2022 across operating income, revenues, and margins suggests potential challenges or a market contraction during that year.

Comparison to Competitors

Activision Blizzard Inc., operating profit margin, long-term trends, comparison to competitors

Microsoft Excel
Activision Blizzard Inc. Alphabet Inc. Comcast Corp. Meta Platforms Inc. Netflix Inc. Take-Two Interactive Software Inc.
Dec 31, 2022
Dec 31, 2021
Dec 31, 2020
Dec 31, 2019
Dec 31, 2018
Dec 31, 2017
Dec 31, 2016
Dec 31, 2015
Dec 31, 2014
Dec 31, 2013
Dec 31, 2012
Dec 31, 2011
Dec 31, 2010
Dec 31, 2009
Dec 31, 2008

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).