Industry financial benchmarks help in budgeting, making strategic decisions, and finding a path to improve performance. So, we are excited for the April 2024 “Printing Industry Performance & Insights” survey, provided by Dr. Ralph Williams and the Jones College of Business at Middle Tennessee State University. This survey will build financial benchmarks to help your business.
We aim to provide company leaders with comparable and relevant financial benchmarks. To make our financial benchmarks credible and valid, we need a bunch of completed surveys. Help us develop knowledge that will help you by completing our survey!
The survey will close on April 19.
You will find industry financial benchmarks and ratios helpful in assessing your firm’s performance. Our data can open your eyes to a path for improving your firm’s performance. That’s why we are committed to annually providing regional printing association members with financial benchmarking and ratio knowledge.
Although comparing your firm’s financial numbers to the data below may point to areas you need to sharpen, this assessment is about more than “budgeting.” From the financial data we pulled from the March 2023 PIPI survey, you may discover areas in your firm that need more or less resources applied. This reflects one strategic benefit of financial benchmarking and ratio analysis. Strategic planning includes deciding in what areas we need to invest more and in what areas we need to invest less; this is planning as opposed to reactive resource allocation – planning how much we need to spend where. With our benchmarks and ratios, we provide actionable thoughts you might consider.
We sought to provide this knowledge for specific industry segments, such as different types of commercial printing companies, label companies, and others. We also sought to provide averages for all firms and high performers in printing industry segments. We do provide some findings categorized in that manner. However, as our survey responses are limited, we do not offer the scope of industry segments we desire, nor do we provide numbers for high performers in all industry segments. However, our report includes helpful numbers.
Hopefully, this report will motivate more survey participation when we conduct the PIPI-Financial Benchmarking study again next spring.
Our report contains four sections:
The report includes income statements and cost categories as a percentage of revenue, balance sheets and related ratios, and cash management indicators. We had enough surveys to generate numbers for high performers and a few industry segments. In addition to the financial numbers, we provide actionable thoughts for you and your management team.
Thanks to all who participated in the survey. We hope this report prompts interest in participating in next year’s survey.