Operating Profit Margin
since 2005
Calculation
Hubbell Inc., operating profit margin, long-term trends, calculation
| Operating profit margin | = | 100 | × | Operating income1 | ÷ | Net sales1 | |
|---|---|---|---|---|---|---|---|
| Dec 31, 2022 | 14.33% | = | 100 | × | 709,100) | ÷ | 4,947,900) |
| Dec 31, 2021 | 12.69% | = | 100 | × | 532,300) | ÷ | 4,194,100) |
| Dec 31, 2020 | 12.73% | = | 100 | × | 533,000) | ÷ | 4,186,000) |
| Dec 31, 2019 | 12.99% | = | 100 | × | 596,600) | ÷ | 4,591,000) |
| Dec 31, 2018 | 12.43% | = | 100 | × | 556,900) | ÷ | 4,481,700) |
| Dec 31, 2017 | 13.73% | = | 100 | × | 503,700) | ÷ | 3,668,800) |
| Dec 31, 2016 | 13.63% | = | 100 | × | 477,800) | ÷ | 3,505,200) |
| Dec 31, 2015 | 14.00% | = | 100 | × | 474,600) | ÷ | 3,390,400) |
| Dec 31, 2014 | 15.40% | = | 100 | × | 517,400) | ÷ | 3,359,400) |
| Dec 31, 2013 | 15.94% | = | 100 | × | 507,600) | ÷ | 3,183,900) |
| Dec 31, 2012 | 15.50% | = | 100 | × | 471,800) | ÷ | 3,044,400) |
| Dec 31, 2011 | 14.76% | = | 100 | × | 423,800) | ÷ | 2,871,600) |
| Dec 31, 2010 | 14.47% | = | 100 | × | 367,800) | ÷ | 2,541,200) |
| Dec 31, 2009 | 12.51% | = | 100 | × | 294,700) | ÷ | 2,355,600) |
| Dec 31, 2008 | 12.79% | = | 100 | × | 346,000) | ÷ | 2,704,400) |
| Dec 31, 2007 | 11.82% | = | 100 | × | 299,400) | ÷ | 2,533,900) |
| Dec 31, 2006 | 9.69% | = | 100 | × | 233,900) | ÷ | 2,414,300) |
| Dec 31, 2005 | 10.77% | = | 100 | × | 226,800) | ÷ | 2,104,900) |
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), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The operational performance from 2005 to 2022 is characterized by a long-term increase in scale and a cyclical fluctuation in profitability margins. While net sales and operating income grew substantially over the period, the operating profit margin experienced distinct phases of expansion and contraction.
- Margin Expansion Phase (2007–2013)
- A period of consistent growth in operational efficiency is observed starting in 2007, where the operating profit margin rose from 11.82% to a peak of 15.94% in 2013. This growth occurred alongside a steady increase in net sales, indicating that operating income grew at a faster rate than revenue during this interval.
- Margin Compression and Stabilization (2014–2021)
- Following the 2013 peak, a downward trend in margins began, declining to 14.00% in 2014 and further to 12.43% by 2018. Between 2018 and 2021, the margin remained relatively stagnant, fluctuating within a narrow band between 12.43% and 12.99%, despite variations in total sales volume.
- Recent Recovery and Scale (2022)
- A significant recovery in profitability is evident in 2022, with the operating profit margin increasing to 14.33%. This improvement coincided with a substantial jump in operating income to $709.1 million and net sales to $4.95 billion, marking the highest absolute values recorded in the analyzed period.
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Comparison to Competitors
Hubbell Inc., operating profit margin, long-term trends, comparison to competitors
| Hubbell Inc. | Boeing Co. | Caterpillar Inc. | Lockheed Martin Corp. | RTX Corp. | |
|---|---|---|---|---|---|
| Dec 31, 2022 | 14.33% | -5.33% | 13.97% | 12.65% | 8.07% |
| Dec 31, 2021 | 12.69% | -4.66% | 14.27% | 13.61% | 7.70% |
| Dec 31, 2020 | 12.73% | -21.95% | 11.67% | 13.22% | -3.34% |
| Dec 31, 2019 | 12.99% | -2.58% | 16.33% | 14.29% | 11.64% |
| Dec 31, 2018 | 12.43% | 11.85% | 16.00% | 13.64% | 12.86% |
| Dec 31, 2017 | 13.73% | 11.01% | 10.32% | 11.60% | 14.49% |
| Dec 31, 2016 | 13.63% | 6.17% | 1.39% | 11.74% | 14.28% |
| Dec 31, 2015 | 14.00% | 7.74% | 7.38% | 11.78% | 13.00% |
| Dec 31, 2014 | 15.40% | 8.23% | 10.22% | 12.26% | 15.01% |
| Dec 31, 2013 | 15.94% | 7.58% | 10.68% | 9.93% | 14.70% |
| Dec 31, 2012 | 15.50% | 7.72% | 13.59% | 9.40% | 13.32% |
| Dec 31, 2011 | 14.76% | 8.50% | 12.46% | 8.56% | 13.92% |
| Dec 31, 2010 | 14.47% | 7.73% | 9.94% | 8.94% | 13.23% |
| Dec 31, 2009 | 12.51% | 3.07% | 1.95% | 9.88% | 12.33% |
| Dec 31, 2008 | 12.79% | 6.49% | 9.26% | 12.01% | 13.14% |
| Dec 31, 2007 | 11.82% | 8.78% | 11.73% | 10.81% | 13.08% |
| Dec 31, 2006 | 9.69% | 4.90% | 12.66% | 9.98% | 12.94% |
| Dec 31, 2005 | 10.77% | 5.13% | 11.13% | 8.02% | 12.26% |
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), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).