Advance Auto Parts Inc (AAP)
Gross profit margin
| Dec 31, 2023 | Oct 7, 2023 | Jul 15, 2023 | Apr 22, 2023 | Dec 31, 2022 | Oct 8, 2022 | Apr 23, 2022 | Dec 31, 2021 | Oct 9, 2021 | Jul 17, 2021 | Apr 24, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jul 11, 2020 | Apr 18, 2020 | Dec 31, 2019 | Oct 5, 2019 | Jul 13, 2019 | Apr 20, 2019 | Dec 31, 2018 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 4,523,511 | 4,674,830 | 4,883,800 | 5,249,860 | 4,860,050 | 4,940,340 | 4,950,340 | 4,928,750 | 4,940,330 | 4,886,350 | 4,793,810 | 4,481,610 | 4,326,679 | 4,210,139 | 4,122,869 | 4,254,749 | 4,254,623 | 4,249,623 | 4,251,743 | 4,219,413 |
| Revenue (ttm) | US$ in thousands | 11,284,210 | 11,292,080 | 11,214,340 | 11,895,070 | 10,872,760 | 11,024,650 | 11,032,730 | 10,996,300 | 10,959,250 | 10,879,950 | 10,731,910 | 10,099,420 | 9,853,800 | 9,623,980 | 9,454,850 | 9,709,010 | 9,701,470 | 9,664,340 | 9,658,740 | 9,580,550 |
| Gross profit margin | 40.09% | 41.40% | 43.55% | 44.13% | 44.70% | 44.81% | 44.87% | 44.82% | 45.08% | 44.91% | 44.67% | 44.37% | 43.91% | 43.75% | 43.61% | 43.82% | 43.86% | 43.97% | 44.02% | 44.04% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $4,523,511K ÷ $11,284,210K
= 40.09%
The gross profit margin of Advance Auto Parts Inc has shown fluctuations over the past several quarters. From December 31, 2018, to December 31, 2023, the gross profit margin ranged from 40.09% to 45.08%.
In recent quarters, there appears to be a decreasing trend in the gross profit margin, starting from 45.08% on October 9, 2021, to 40.09% on December 31, 2023. This decline may indicate potential challenges in managing costs related to the cost of goods sold or pricing strategies.
It is crucial for Advance Auto Parts Inc to closely monitor and address the factors impacting their gross profit margin to ensure sustained profitability and operational efficiency. Further analysis of the company's cost structure and pricing strategies may be necessary to improve and stabilize the gross profit margin.
Peer comparison
Dec 31, 2023