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I agree with you 100%, although the issue with your statement is that you mentioned profit ratio, which is the correct metric to look at, whereas 99% of the art

I agree with you 100%, although the issue with your statement is that you mentioned profit ratio, which is the correct metric to look at, whereas 99% of the articles on this topic only look at raw profit numbers, not profit ratio. Article upon article upon article is posted with the same headlines about "company X had record profit numbers this year", but none of these articles ever look at profit ratio. By definition, in times of inflation, even if a company maintains the same exact profit ratio, their raw profit numbers will increase.

octobus2021 3y ago
The only way profit would increase without increasing profit margins is if the volume increased. While I don't have the data I think it would be safe to say that volume did not increase but actually went down due to all craziness in 2020/2021, so it makes sense to assume that the profit margins went up. Which can be easily seen in corporate reports where they report not only on net profit but on profit margins as well.