PUBLISHER: Bishop & Associates, Inc. | PRODUCT CODE: 1304595
PUBLISHER: Bishop & Associates, Inc. | PRODUCT CODE: 1304595
Each year, Bishop & Associates prepares the “Connector Industry Yearbook ” based on annual reports provided by publicly traded connector companies.
Income statements and balance sheets are consolidated for the past 10 years, five years, and most current year, providing benchmarks on the industry and the overall performance of the public connector companies. Featured in each issue are: consolidated history of the public companies, fifteen-year history of performance by company (including industry averages), and a chronological description of important 2021 industry events.
Each year, Bishop & Associates prepares the “Connector Industry Yearbook ” based on annual reports provided by publicly traded connector companies. Income statements and balance sheets are consolidated for the past 10 years, five years, and most current year, providing benchmarks on the industry and the overall performance of the public connector companies.
In addition, the report provides a review of the connector industry for the period 2012-2022 for sales by region, end-use equipment sector and our current forecast for 2023 and 2028 by region and end-use equipment sector.
Consolidated history of the public companies including:
Fifteen-year history of performance by company, with industry averages for the following financial measurements:
The following table provides Net Income as a percent of sales from 2012-2022 for public companies included in the 2023 Connector Industry Yearbook.
In 2022 the connector industry had an average net income of 11.8% of sales, compared with 11.1% in 2021 and 4.2% in 2020. The reduction in profits in 2020 can largely to attributed to COVID-19 pandemic that slowed sales worldwide. 2018 was a significant year in United States which passed the Tax Cuts and Jobs Act which reduced the federal corporate income tax from 35% to 21%.
As a result of the worldwide economic downturn in 2009, the lowest net income as a percent of sales occurred in 2009 at -12.6%. This was the first time that net income had been a negative number for the consolidated public companies. Between 2013 and 2017, net income increased from 8.6% of sales in 2013 to 9.2% of sales in 2017. Between 2018 and 2022, net income decreased from 12.0 % in 2018 to 11.8% in 2022.
The following chart provides a history of net income for the Connector Industry from 2008-2022.